A new sportsbook is coming to Iowa, and it’s the parent company’s first splash into the American market.
On Aug. 28, BlueBet announced that it received a license from the Iowa Racing and Gaming Commission for its ClutchBet site.
BlueBet CEO Bill Richmond said in a statement:
“This is a huge moment in BlueBet’s history, and we are thrilled to bring our sportsbook to Iowa sports fans who we are confident will respond well to our first mobile online offering and differentiated market positioning.”
BlueBet is now Iowa’s 18th sports wagering operator.
BlueBet signed a five-year market access deal with the Dubuque Racing Association with the option to extend its agreement by an additional five years.
What is BlueBet and what is ClutchBet?
BlueBet is a wagering operator, established in 2015 out of Australia. BlueBet has produced strong financial results, grabbing around a 1.2% market share, according to its website.
ClutchBet is a new American sportsbook – the company’s lone US sportsbook brand. ClutchBet’s headquarters are located in Henderson, Nevada.
The ClutchBet sportsbook allows Iowans to bet on football – just in time for the NFL season. Other North American sports and international sports are available, too.
Paysafe will facilitate payments for customers, and it’s been used in the Iowa market since 2020, according to Business Wire.
The sportsbook will also feature the Skrill USA digital wallet, letting customers cash out in real-time. With winnings in their digital wallets, customers can then transfer funds to their linked bank accounts.
“We’re delighted to support BlueBet USA, Inc.’s entry into the States with the new ClutchBet brand, starting in Iowa, an iGaming market where we have significant experience,” Paysafe President of Global Gaming Zak Cutler said in a statement.
“We share ClutchBet’s player-centric approach and look forward to ensuring the brand’s customers, including VIP players, enjoy a fast and frictionless payments experience whether wagering with our Skrill wallet or Paysafecash.”
What’s next for BlueBet?
BlueBet has sportsbook operations planned for Colorado, Louisiana, and Indiana, in addition to Iowa.
According to Gambling News, BlueBet is not planning, at this time, to expand outside of the four current states.
Richmond noted that the opening in these four states marks BlueBet’s completion of the first phase of the US entry strategy.
Next up: BlueBet aims to launch a business-to-business sportsbook-as-a-solution offering. This will be marketed toward companies looking to run their own sportsbook in the fiscal year 2023.
Richmond said in a release:
“The size of the opportunity in the US continues to grow with Americans having bet $125 billion on sports in the four years since legalization. With many more states still to come online, we could not be more convinced that our differentiated B2B offer is the best approach to access this opportunity in a disciplined and purposeful manner.”