Australian Sportsbook BlueBet to Make US Debut in Iowa
The Australian company BlueBet Sportsbook has reached a five-year agreement with Dubuque Racing Association to offer online betting in Iowa.
Under the deal announced Wednesday, BlutBet could have its American debut following a sportsbook model agreement with the Dubuque Racing Association, which operates Q Casino.
Q Casino – operational since 1985 – is a combination greyhound racetrack and casino situated near the Mississippi River in Dubuque, Iowa.
BlueBet’s First American Agreement
The latest deal is the maiden settlement of the Australian-based bookmaker to launch in the US sports betting market under which BlueBet will function one of the casino’s skins for a cellular sportsbook pending regulatory approval.
The deal will initially be for five years with the Dubuque Racing Association but may be renewed for one more five years.
The BlueBet Holdings’ CEO Bill Richmond stated in a release that Iowa suits the Australian company’s criteria as a formidable wagering market with huge potential.
“This is a key milestone in BlueBet’s entry to the US market. We’re taking a really thought-about, staged approach to market entry within the US,” mentioned Richmond.
BlueBet Follows a Cautious Approach
The news launch clearly suggested a careful strategy by BlueBet before launching a full-scale operation in the US market, which has been uncharted territory for the Australian firm. A considered and staged approach to entering the US market will comply with launches in different states quickly.
But for now, Richmond stated, the corporate is going ahead with a business to client (B2C) approach to show both the capability of BlueBet’s technology and its team, which he said “have been honed by years of successful operating in Australia,” before shifting to its sportsbook-as-a-solution offering in the American market.
Richmond mentioned the B2C strategy would enable the corporate to entry super US alternatives without significant ongoing capital expenditure.
BlueBet – already awaiting a nod for Virginia sports activities betting – is initially concentrating on five states. The different three are Colorado, Tennessee, and Maryland, the most recent state to legalize sports betting.
When Will BlueBet App Go Live?
Many questions concerning BlueBet’s deal for the Iowa market stay unanswered. When asked when will the Australian sportsbook go live for its American debut, there was no clear answer. However, the state’s new sports betting apps wish to launch in time for the 2021 NFL season.
Other questions associated to the character of the deal also went unanswered by each Q Casino and the BlueBet officers. As of now, it remains unclear whether the Australian sportsbook shall be a rebrand of the existing Q Sportsbook or will serve as a second pores and skin as an independent entity. However, BlueBet’s Wednesday announcement suggests it’s going to function an extension of the prevailing casino license in the metropolis.
BlueBet Chooses a Booming Market
BlueBet has taken a sensible transfer by choosing a booming market with enough growth potential. The company’s CEO liked that Iowa sports betting advertising – which allows three cellular skin to every on line casino operator – is generally done on-line. Richmond mentioned the state’s mobile sports activities betting – which accounts for 85% of the total market share – has grown to a $1 billion market in the fiscal year 2021.
According to BlueBet, the corporate selected the Hawkeye State for a debut because of the low capital expenditure requirements, acceptable taxation, and regulatory requirements, and a significant inhabitants base.
The state legislation calls for an preliminary $45,000 licensing fee each time a sportsbook desires to operate in the state.
250% up to $1,500
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