Tipico Sportsbook officially received the green light to expand into Iowa. The sportsbook, which already calls four other states home, received the nod from the Iowa Racing and Gaming Commission on Wednesday.
Tipico, the exclusive sports betting partner with USA Today Sports, is a growing name in the industry. And an expansion into the Iowa sports betting market that saw a handle of $229.95 million last month is the latest step.
“We are thrilled to grow our footprint and give Iowa customers access to our propriety product and competitive offering,” said Adrian Vella, CEO of Tipico USA, said in a release.
What to know about the Tipico Sportsbook
Tipico has been around for nearly 20 years after it was founded in Europe in 2004. After cementing itself as a player in the European market, it set its eyes on the United States.
The sportsbook also possesses market access in:
- New Jersey
Thanks to an agreement with Caesars Entertainment, Tipico gained access to Iowa and Indiana. In addition to its various sportsbooks, Tipico operates an online casino in New Jersey, where its US headquarters resides.
In addition to its ties to USA Today Sports, Tipico is the official sports betting partner of the Columbus Crew of Major League Soccer.
When can I bet with Tipico Sportsbook in Iowa?
Iowans won’t have to wait. According to a release, Tipico Sportsbook is already accepting bets within state lines.
Vella commented in a release:
“Iowa betters will be able to use a very simple product with fast deposits and withdrawals, experience cutting edge functionality in Live betting, SGP+ with wide coverage on player props, and can cash out anytime— including partial cash out capabilities. To top it off, Tipico’s functionality is run from within the US with customer service based in New Jersey.”
Tipico Sportsbook gives bettors their usual favorites to bet on: football, basketball, baseball, hockey, college sports and more. The app features live betting options, as well as:
- Multi-sport parlays
- Future and round-robin bets
- Player prop bets
To start, new users must download the sportsbook app and create an account. You can find the app on both the Apple and Google Play stores.
Tipico Sportsbook’s website shares that new customers will receive a 100% deposit match of up to $250. Additionally, the sportsbook gives customers a free $10 bet.
Tipico’s arrival comes after some sportsbooks left Iowa
It’s tough for up-and-coming sportsbooks to plant their feet and anchor themselves amongst the industry’s household names.
Fubo’s decision, according to Iowa Racing and Gaming Commission administrator Brian Ohorilko, was “due to economic conditions.” Additionally, MaximBet – which commanded plans to expand to Iowa – completely shut down its sports betting operation in November, too.
Big sports betting names dominate the market across the country. Looking at Fiscal Year 2023 so far, Iowa’s online sportsbooks produced a handle of $1,029,252,224.01.
Nearly 88% of that handle (roughly $898.77 million) came from DraftKings, FanDuel, Caesars and BetMGM.
The four sportsbooks combine for a revenue total of $83,791,847.43 so far in this fiscal year. The Barstool Sportsbook and Pointsbet saw FY23 revenue totals at $2.37 and $2.15 million, respectively.
Outside of those six, no other sportsbook in Iowa had a revenue total of more than $900,000 so far this fiscal year.
Just this past month in December, DraftKings dominated, with customers betting $69.82 million through that sportsbook. FanDuel had a handle of $50.41 million and Caesars grabbed $39.61.