BlueBet plans to enter U.S. sports betting market with Iowa launch
Australian-owned bookmaker BlueBet has entered a skin agreement with Dubuque (Iowa) Racing Association, which would mark the company’s entrance into the U.S. online sports betting market.
The agreement is pending regulatory approval and licensing.
If approved, BlueBet would operate its online mobile sportsbook in partnership with the racing association, which operates Q Casino. The license is for an initial five-year term and would be automatically renewed for a further five years if BlueBet elects to do so.
BlueBet said it is in negotiations with skin holders in other states and awaits the results of its pending license application in Virginia.
BlueBet CEO Bill Richmond (pictured, left) said, “This is a significant milestone in BlueBet’s entry to the USA market. We are taking a very considered, staged approach to market entry in the USA, and we are tremendously excited to be announcing this agreement with the Dubuque Racing Association.
“We are initially launching a B2C business to demonstrate both the capability of our technology and our team, both of which have been honed by years of successful operation in Australia, ahead of moving to our Sportsbook-as-a-solution offering in the USA. This strategy allows us to access
the tremendous USA opportunity without large ongoing capital expenditure.”
Richmond said Iowa is an appealing market, noting 85% of the state’s wagers are placed through mobile or online.
Iowa has seen mobile and online wagering grow after the state authorized mobile sportsbook registration at the start of 2021. Iowa, which launched legalized sports betting in August 2019, previously required customers to register at a retail sportsbook.
BlueBet is a mobile-first, online bookmaker offering wagering products on 31 sports in Australia and internationally.
“We look forward to growing our online sports book in partnership with Dubuque and expect our mobile first online offering to resonate strongly with customers who have demonstrated a strong affinity for mobile wagering,” Richmond said.
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