Author: Joe Kizlauskas
Last Updated: 6th April 2022
As Iowa’s sports gambling scene continues to grow, it’s keen to compete with the revenue generated by Nevada and New Jersey leaders. Legalising online sportsbooks in this race should help, and just added two more to the list. PointsBet and Q Casino have now officially launched their state applications for sports gambling.
PointsBet, based in Australia, has just opened its retail sportsbook at tNevadahe Catfish Bend Casino in Iowa last August. Since receiving approval from the Iowa Racing and Gaming Commission (IRGC), it has now pushed into the digital realm with the introduction of its online operations. Those state residents who want to take advantage of the opportunity must first register for registration at the casino, according to a state law that is expected to remain in place until January 2021.
On November 8, Q Casino opened its online sportsbook after IRGC approval. It is in Dubuque, which owns the casino of the same name. IGT has been chosen as the vendor for the application, but Q Casino will be running everything. As with PointsBet and any other state-owned online sports gambling operation, gamblers will need to visit the venue for registration first.
The sports gambling industry in Iowa is gaining strength and a lot of attention. William Hill now has four state-owned operations and Elite Sportsbook has three retail locations and a mobile app. A new retail sportsbook will now be added as the IRGC allowed Casino Queen Marquette to flip the switch on its operations last Thursday. It was the last to join the group in the region, and now all 19 Iowa licenced casinos have their own sportsbooks.
The market continues to find greater participation since sport wagers were first offered in Iowa last August. Just as in most states, as people adjust to the new offering, there is a ramp-up period, but things got off to a good start. The IRGC estimates that the 18 retail sportsbooks in service (before Casino Queen Marquette was included) reported $42.2 million in retail handling and $7.7 million in net revenue since the business opened in August.
However, online sports gambling has indeed taken the lead and reported a $51.4 million cumulative handle with net revenue of $5.1 million through October. Give a further year to the local market, and all the figures will be much higher than they are presently.