Two New Sportsbooks Enter Iowa Market
- Iowa sees growing interest towards their regulated sports betting market
- Two more casino operators announce the launch of sportsbooks at their venues
- The new entries launch operations at Grand Falls Casino and the Diamond Jo casino in Northwood
This week Iowans saw two more sportsbooks launch on state territory making for a total of 10 regulated operations since the enactment of legalized sports betting in the beginning of August.
Northwood’s Diamond Jo
Thursday, August 28, marks the date of Diamond Jo’s sportsbook launch in both online and retail options available to sports lovers with an inclination towards strong persuasions. Powered by FanDuel’s sportsbook solutions, the online service is presumed flawless, while the retail sportsbook welcomes bettors with three betting windows, 11 self-service kiosks, a massive ticker and a generous amount of video displays.
To celebrate the launch, Diamond Jo held a ceremony where former Minnesota Vikings defender, John Randle, placed the first legal sports wager on the said date.
The Grand Falls Casino near Larchwood
Strategically positioned in close proximity to the South Dakota border and not too far away from its largest city; not to dismiss their other neighbors in Minnesota, as well, the Grand Falls Casino makes for an alluring location for launching a sportsbook, now that regulations have stepped into play.
On Friday, 30 August, the Grand Falls Casino launched its Bet.Works powered sportsbook, joining the tidal wave in Iowa. Plans for this weekend involve the start of retail betting. The operator hasn’t fallen short of utilizing online betting services, as well.
Although the Grand Falls casino saw a slight delay of its online sports betting start, having intended a partnership with Betfred at first, the South Dakota’s daily news provider – The Argus Leader – reported that the latter had not followed up with their license application in time, having done so just this week.
This left the Grand Falls Casino little choice but to embrace Bet.Works’ software solutions at least until their partner of choice makes the grade for a license.
Iowa’s Newly Integrated Legislation at a Glance
Governor Kim Reynolds paved the way for a regulated sports betting market in Iowa earlier in May this year. Having gone over all the necessary details, the state proceeded with a full-blown launch on the 8th of August when eight other sportsbooks held ceremonies in order to welcome the new market perspective.
At this point, the new legislation requires bookies to pay a 6.75% tax on revenue generated through sports wagers. Licensed entities offering such services will be required to pay an additional federal tax of 0.25%.
Mike made his mark on the industry at a young age as a consultant to companies that would grow to become regulators. Now he dedicates his weekdays to his new project a the lead editor of GamblingNews.com, aiming to educate the masses on the latest developments in the gambling circuit.
