Last updated on July 17th, 2021 at 09:56 pm
An Australian online sportsbook operator secured a deal in Iowa. BlueBet signed a contract with Q Casino to launch an online betting service in the state. Also, the casino has been operating in Dubuque since 1985.
The deal is still waiting for approval from the regulator. According to DiscountPayPerHead.com, it is the first American deal the Australian sportsbook has reached. The partnership deal will be for five years. Also, BlueBet will have the chance to reestablish for an additional five years at its decision. The arrangement is a skin deal. Thus, BlueBet will operate the casino’s online sports wagering endeavors.
BlueBet said that Iowa’s sports betting market opens a massive opportunity for the company. Also, it is a significant milestone for the Australian sportsbook. According to the best sportsbook software, it was a timely move for BlueBet. Hopefully, the company will get more deals and penetrate other states.
Australian Online Sportsbook Operator Enters Iowa
According to sportsbook pay per head reviews, BlueBet is initially launching a business-to-consumer business to show what their technology can do. Also, they want to demonstrate the capability of their team. They plan to access the US market without the need for an item of significant capital expenditure.
In the fiscal year 2021, the Iowa sports betting market grew to a $1 billion market. Sports betting has been legal in the state since 2019. Also, its growth rate increased when Iowa removed the requirement for in-person registration.
After Iowa, BlueBet wants to venture into other states with legal mobile sports betting. It suits the company’s goal of low capital expenditure while expanding across the nation. Also, sports are slow in July and August. However, it will pick up in September in time for the start of the NFL season.