bet365 Goes Live in Iowa

bet365 launched its sports betting brand and top-rated online casino in the state of Iowa on Monday, June 5. The launch was made possible by a 2021 agreement with the Casino Queen Marquette, which has given bet365 one of their two allotted skins. 

bet365 was originally slated to go live in the Hawkeye State in May, but that launch was delayed until early June.

bet365 joins four other sportsbooks to make up sports betting in Iowa, a state that has been a success since legalizing retail and online sports betting in 2019. The betting brand brings a well-established wagering name and a stellar online betting app to the Iowa scene. They also bring an almost unparalleled experience catering to bettors, boasting about 63 million customers worldwide.

Iowa joins...

New Jersey, Ohio, Colorado, and West Virginia all have bet365 platforms operating in their states. bet365 is also a big part of the Ontario legal sports betting market. The sportsbook did have plans to launch in the new and exciting Massachusetts market, but their bid was mysteriously withdrawn in January.

Launching in Iowa during the typically slow summer months could be seen as a risk, but the other school of thought is that the company will have time to iron out a lot of kinks before the Hawkeye State's industry explodes once again in September and the start of the football season.

Why Iowa?

Iowa is seen to be an attractive market for new sportsbook providers. Not only have their handle figures consistently punched above their weight, but the annual tax rate for the state's providers is a very low 6.75%.

Iowa also requires an easy path to licensing as compared to other jurisdictions operating in the U.S. market. The Iowa Racing and Gaming Commission also has a very low licensing fee of $45,000 and a $10,000 renewal fee.

bet365's experience and a terrific combination of a top-tier sportsbook and elite online casino will be a welcome addition to the Iowa market - one that has surprisingly little competition for market share among the best sports betting apps.

Iowa market under scrutiny

The Iowa legal sports betting industry gained national attention in May when it was alleged that players on the University of Iowa baseball team had been involved in sports betting activities.

The Iowa Racing and Gaming Commission investigated, and the result was the suspension of a few players on the aforementioned team. Betting on the University of Iowa baseball team was suspended in other states across the nation following the news of the investigation.

That investigation is ongoing.

Moving forward

There is a chance that bet365 gets in on some other markets hoping to launch or expand their legal sports betting markets. There was no comment at the time surrounding the reasons for withdrawing their Massachusetts bid and it appears as though bet365's existence in the Bay State market hasn't yet been totally ruled out.

bet365 has the financial backing, the reputation, and the elite-level sports betting product to compete with the best sportsbooks anywhere. Eyes will be on the company to see what their next move will be in the bustling North American legal sports betting market. And if you're in Iowa don't miss out on a bet365 promo code to get an Iowa sportsbook promo.