Betway Sportsbook will bring same-game parlays, partial bet cash-outs and other online wagering options to the Iowa sports betting market.
It became the state’s 15th sportsbook operator with a soft launch on Friday.
Iowa Racing and Gaming Commission (IRGC) administrator Brian Ohorilko said the parent company Digital Gaming Corp. (DGC) received its temporary “go live” license earlier in the week.
Betway IA fifth launch in US
The European online gambling company has a contract with Diamond Jo Casino. Betway is the second “skin” at the Dubuque venue, which also hosts the FanDuel online and retail sportsbook.
Betway has a presence in Colorado, Indiana, New Jersey and Pennsylvania, in addition to Iowa. They used a soft-launch approach in each of the early states as well.
Iowa’s commissioners received and approved DGC’s contract at the IRGC meeting in October 2020.
“It’s kind of a situation where they have been working on getting licensed off-and-on in our state,” Ohorilko said.
“They do have some experience in iGaming, But obviously, in Iowa, they would be limited to just sports betting.”
Iowa code requires casinos to pay an initial $45,000 licensing fee the first time a sportsbook wants to operate in the state.
Betway Iowa launch part of larger plans
DGC Betway said it has market access agreements in 10 states as it grows in the US market. On its website, the company points to “pre-match and in-play sports betting across all major US and European sports leagues.”
Customers can access the Betway Iowa Sportsbook on its website or through the iOS and Android app. Betway mentions a desire to “provide a safe, responsible, fair and transparent gaming platform for all US operations.”
In the regulated sports betting market, every operator must keep players’ accounts safe and secure.
Sports betting apps and geolocation functions also must be certified by an independent lab.
Finally, sportsbook operators must meet standards to address problem gambling, including self-exclusion.
Why is the Iowa sports betting market growing?
On May 14, 2018, the US Supreme Court decision overturned PASPA, the 1992 Professional and Amateur Sports Protection Act. The ruling ended Nevada’s monopoly on sports betting.
Geoff Freeman was president and CEO of the American Gaming Association (AGA) at the time of the ruling. He called the decision “a victory for the millions of Americans” who want to bet on sports safely.
Iowa became the 11th state to allow sports wagering on Aug. 15, 2019. Sports betting operators partner with Iowa casinos to take wagers in the state — 13 of the state’s 19 states were ready to do that in the first month.
Up until Jan. 1, customers had to visit a casino to register for an online sportsbook in Iowa. Now it’s possible to set up a sportsbook account from anywhere within the state.
Sports betting operators have agreements at all 19 Iowa casinos.
They, in turn, have agreements with some of the top wagering companies in the world. Look for more launches as operators try to catch as much of the football betting market as possible.