Iowa bettors have two more online sport betting apps to choose from following the debut of PointsBet and Q Casino online sportsbooks this month.
The PointsBet online betting product launched officially on Tuesday after getting the green light from the Iowa Racing and Gaming Commission last week. The brand, which is owned by PointsBet Holdings Ltd., began its Iowa operations with a retail offering at Catfish Bend Casino in Burlington.
The book is known for its unique offering, PointsBetting, which allows bettors to cash in big-time on point spread wagers. In this market, the players’ winnings or losses depend on the margin of the victory in the final score.
For example, if you place a $50 wager on a favored team to win by seven points, and they win by 15, the book would pay out $50 for every additional point covered.
Iowa is the second US state for the PointsBet betting app after New Jersey. The operator began accepting bets in the Garden State on Jan. 17 under a Meadowlands Racetrack license.
PointsBet has also revealed plans to launch retail and online sportsbooks in Colorado and Illinois when regulated wagering kicks off in the two states. In addition, the company has an online sports betting deal with Tioga Downs Casino in Upstate New York that will see the operator offer mobile betting services in the jurisdiction should the state legislature legalize the market.
The sportsbook is welcoming its new Iowa customers with a $100 bonus on the first deposit of $50 or more. The bonus is awarded in the form of free bets, and it does not have playthrough requirements.
Q Casino Also Offering Mobile Betting
The City of Dubuque-owned Q casino in Dubuque is also operating a mobile sportsbook after a successful launch earlier this month.
The casino received clearance from the IGRC to roll out its online sports betting website and app on Nov. 8, joining William Hill and Elite Sportsbook in the market.
The app runs on the IGT PlaySports platform.
IRGC Approves Casino Queen For Sports Betting
The Iowa Racing and Gaming Commission has approved Casino Queen in Marquette for sports betting operations in the Hawkeye State. The CQ Holdings-owned and operated casino received clearance at the Commission’s meeting held on Thursday last week.
The property is the last of Iowa’s 19 commercial casinos to obtain a sports betting permit. The other 18 casinos got their licenses approved before August, and they have begun operations.
The timeline for the opening of the physical sportsbook at Casino Queen is currently unknown since the property is yet to select a partner to power the offering.
Iowa Regulator Projects Strong Revenue Numbers In November
Iowa sports betting began on Aug. 15, and the state regulator is pleased with the growth registered by the industry this far.
The market handled $8.576 million in its first two weeks of operation, with only 13 sportsbooks taking wagers. The figures jumped to $38.5 million in September and $46.5 million in October, which was the second full month of regulation.
The sportsbook revenue has grown from $2.2 million in August to $5.7 million in October.
According to the regulator, the growth in the industry has been fuelled by the launch of more retail and online sportsbooks and the start of the football season.
At the moment, there are 18 physical wagering venues in the state, and nine of them have a mobile offering. The IRGC expects more action and higher revenue figures in November now that there are more operators in the market.