bet365 Goes Live in Iowa

On Monday, June 5th, bet365 introduced its sports betting and top-rated online casino in Iowa, thanks to a partnership with Casino Queen Marquette in 2021, granting bet365 one of their two permitted skins.

Originally scheduled to launch in May, bet365’s debut in the Hawkeye State was postponed until early June.

bet365 has recently joined four other sportsbooks in Iowa, contributing to the success of sports betting in the state since it was legalized in 2019. With a well-established name in wagering and a top-notch online betting app, bet365 offers an exceptional experience for bettors. The brand also brings with it a vast customer base of around 63 million worldwide.

Iowa joins…

bet365 operates in New Jersey, Ohio, Colorado, and West Virginia, as well as being a significant player in the Ontario legal sports betting market. Although originally planning to launch in Massachusetts, their bid was unexpectedly withdrawn in January.

Starting in Iowa during the typically quiet summer season may be viewed as a gamble, but some believe it will give the company a chance to work out any issues before the state’s industry picks up momentum in September with the return of football season.

Why Iowa?

Iowa is considered a desirable market for new sportsbook providers due to its consistently strong handle figures and low annual tax rate of just 6.75% for providers in the state.

Compared to other jurisdictions in the U.S. market, Iowa has a simple licensing process and low fees. The Iowa Racing and Gaming Commission charges a licensing fee of $45,000 and a renewal fee of $10,000.

With its top-tier sportsbook and elite online casino, bet365’s entry into the Iowa market will bring a unique and highly anticipated option for sports betting enthusiasts. Despite the lack of competition among the best sports betting apps in Iowa, bet365’s experience and offerings are sure to make a significant impact.

Iowa market under scrutiny

In May, the Iowa legal sports betting industry made headlines nationwide after reports surfaced alleging that members of the University of Iowa baseball team were involved in sports betting.

After conducting an investigation, the Iowa Racing and Gaming Commission suspended several players from the team mentioned. As a result, betting on the University of Iowa baseball team was halted in various states nationwide.

That investigation is ongoing.

Moving forward

Bet365 may consider entering new markets to launch or expand their legal sports betting operations. The reasons for withdrawing their bid in Massachusetts are currently unknown, but it is possible that bet365 is still exploring opportunities in the Bay State market.

With its strong financial support, stellar reputation, and top-notch sports betting offerings, bet365 is well-equipped to rival the top sportsbooks worldwide. All eyes are on the company to see how it will navigate the competitive North American legal sports betting market. If you’re in Iowa, be sure to take advantage of a bet365 promo code for an Iowa sportsbook promotion.