Betting News

Fanatics’ sportsbook supersedes PointsBet in Iowa

Fanatics Betting and Gaming (FBG) is set to launch its sportsbook in Iowa, replacing PointsBet. Iowa-based players will be granted the opportunity to obtain and place bets via the Fanatics sportsbook mobile application. The existing confidential information of PointsBet users will be transferred to the Fanatics Sportsbook.

The PointsBet retail sportsbook that will be accessible at Catfish Bend Casino will be branded as a Fanatics Sportsbook. This undertaking will involve the installation of new Suzohapp self-service betting kiosks.

Iowa will mark the twelfth state from which the Fanatics Sportsbook will be accessible. As a result, this signifies the concluding phase of FBG’s nationwide acquisition of PointsBet, which commenced in August 2023.

In addition to Colorado, Connecticut, and Kentucky, the Fanatics Sportsbook maintains an online presence in the following states: Maryland, Ohio, Massachusetts, Pennsylvania, Vermont, Tennessee, Virginia, and West Virginia. Additionally, retail betting locations of the establishment can be found in West Virginia and Pennsylvania.

FBG provides casino wagering through the Fanatics Casino, in addition to sports betting. This becomes available exclusively in West Virginia and Pennsylvania at this time. Recent statements from FBG indicate that their strategy for expanding into additional states is proceeding as intended.

According to its most recent monthly results, the company recorded a transaction of $282.7 million in December. In contrast, the December 2022 figure for Iowa amounted to $229.9 million. This represented an increase of 23%. This represented a decrease of 2.4% compared to the November 2023 total of $289.7 million. Online betting contributed an estimated $258.3 million, while retail sportsbooks contributed $24.4 million.

In terms of income, December generated $26.3 million, an increase of 28.9% from the previous year’s $20.4 million and an even more substantial 86.5% over November’s $14.1 million. Revenue was generated by online wagering at $23.6 million, facilitated through sports betting sites, and retail wagering at $2.7 million.

In December, the highest-ranked participants were Diamond Jo Dubuque and FanDuel. A total of $7.2 million in revenue was generated, of which $68.7 million was derived from betting.

DraftKings and Wild Rose in Jefferson came in second place with a combined revenue of $4.0 million and a handle of $43.3 million. The third place finisher was Wild Rose in Emmetsburg, which is another DraftKings affiliate. They brought in $3 million in income from $27.5 million in wagers. During the month of December, PointsBet’s partnership with Catfish Bend Casino resulted in a total of $331,818 in revenue, which was generated from wagering totaling $4.6 million.

Edna Boykin

Edna Boykin started her career as a financial news writer. And, she was withal active in stock trading. From the commencement of her vocation, she is passionate about online poker games. As she likes to play poker and roulette, she knows the casino industry exhaustively. She recently joined Times of Casino as a news writer. She regularly contributes in-depth breaking stories and news updates of the casino industry.

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