BettHouse is planting its first seeds in Iowa this spring, and the emerging sportsbook hopes to grow a national profile from there.
The company announced a new funding round on March 9 ahead of a roll-out in Iowa. It has a market-access agreement with Rhythm City Casino Resort in Davenport.
BettHouse CEO Steve Berman said during an interview with PlayIA.com:
“Well, right now we’re expected to be in Iowa live — I would say — sometime in May. It could be the end of April or May.”
Iowa is first up, but BettHouse plans on going live “in multiple states in the coming months.”
Iowa Racing and Gaming Commission Administrator Brian Ohorilko said:
“At this point, we don’t have any casinos that have three. Rhythm City is a casino that has agreements with three, but they aren’t live yet.”
Iowans can expect to see several new sports betting apps launching in 2021.
BettHouse touts ‘non-legacy’ roots
The tech-focused startup considers itself the first non-legacy sportsbook to gain market access in the US, according to Berman:
“What I mean by non-legacy is, we didn’t come over here from Europe. We did not branch out from being a media company. We didn’t branch out from being a fantasy company and we certainly didn’t branch out from being a brick-and-mortar operator in Nevada. What we’re building is coming from a fresh perspective for fans — all sports fans.”
Plans call for BettHouse to bring Bet.Works and Simplebet micro-betting systems to four states by the end of 2021. The Vegas-based company was formed in October with a focus on fan engagement.
BettHouse CEO wants ‘social,’ simple sportsbook
The company designed the BettHouse sportsbook and mobile app to make wagers a social and simplified experience. Berman said:
“I think the market is craving something different — something that isn’t just for existing sports bettors but sports fans who may not be as sophisticated. They want to be able to engage with a game on a platform that is a bit simpler and gives them more opportunities to win money. They don’t have to be a ‘sharp’ or an educated sports better. … Our product is going to be more catered toward Generation Z — more social. We’ll have more opportunities for them to wager in the moment within a game, and be less complicated — less intimidating.”
In its March 9 statement, BettHouse said it will focus investment on IP development and market access. The tech-sportsbook is also eyeing Canada, where it wants to be in a position if the federal government lifts restrictions on single-event sports wagering.
BettHouse president and founder Nitin Jain said:
“The US betting market is projected to be worth $15 billion by 2025. But, such projections are based on the current product landscape. BettHouse will focus on the micro-markets, which will expand revenue and handle above traditional offerings via more betting opportunities for customers.”