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Australian-based BlueBet has signed a “skin” agreement with Dubuque Racing Association Ltd., with the potential to launch a sportsbook in Iowa in the near future.
Dubuque Racing Association Ltd. (DRA) is a licensed wagering operator in Iowa, and they own Q Casino. Should state regulators approve their application, BlueBet would launch a sportsbook in the state in conjunction with DRA. The terms of the agreement between BlueBet and DRA are for an initial five years, with the Australian company having the option to renew for another term of the same length.
This agreement marks the first official foray into the United States market for BlueBet, who offer online sports wagering with an emphasis on mobile platforms in Australia as well as more than thirty other countries worldwide. The company has created a subsidiary, BlueBet Iowa LLC to serve in the skin agreement with DRA, under the parent company BlueBet Holdings Ltd.
Iowa Sports Betting
Sports betting was approved in Iowa in August of 2019, and sportsbooks were launched shortly after, marking the 11th state to legalize. In the nearly two years of operation, sports gaming in the Hawkeye State has grown to a more than $1 billion industry. According to reports from the Iowa Racing and Gaming Commission, 85 percent of the activity in the state is mobile.
BlueBet Expansion Into the U.S. Market
According to a release announcing the arrangement in Iowa, BlueBet has marked five states for their first entry to the U.S. sports gaming market: Colorado, Iowa, Maryland, Tennessee, and Virginia. The company wants to focus on mobile sports betting applications and platforms, seeking relationships with licensed operators who need a partner to supply scalable solutions in that area.
“We are continuing to explore opportunities with existing license holders in numerous jurisdictions and also await a decision on e pending license application for Virginia,” says BlueBet CEO Bill Richmond.
