Bally Bet Launches Mobile Sports Betting in Iowa

By Jacob Wayne | Jun 30, 2021, 9:32am

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iowa flag 160 The Iowa sports betting market is rapidly expanding, and Bally Bet, the online sports betting platform for Bally’s Interactive (NYSE: BALY), has launched its mobile platform in Iowa. Elite Casino Resorts will partner with Bally’s to provide market access tie-in through their Rhythm City Casino Resorts. In addition, Grand Falls Casino and Resort will also provide market access through their location in Larchwood.

Adi Dhandhania, Bally’s Corporation’s Senior Vice President of Strategy and Interactive, recently said, “we are very excited to have achieved yet another milestone with the expansion of our mobile sports betting platform in Iowa. As a state that has embraced legalized sports betting since 2019, Iowa was an attractive market for Bally Bet. Bally’s currently owns and manages 14 casinos across 10 states, and Bally Bet will be linked to an awesome loyalty program with rewards at these casinos and affiliated hotels and restaurants.

What is Bally’s Interactive?

Bally 150x150 1 Bally’s Interactive is a division of Bally’s Corporation headquartered in Las Vegas, NV. Established in 2021, Bally’s Interactive powers Bally’s Corporation’s omnichannel platform for sports betting, iGaming, free-to-play games, and Daily Fantasy Sports. Bally’s Interactive has also acquired Monkey Knife Fight, the third-largest and fastest-growing DFS company globally. In addition, SportCaller is also a part of Bally’s Interactive, and it provides free-to-play games, including trivia, quizzes, bespoke, and turnkey app games.

Bally’s Being Aggressive with Sports Gambling

Bally’s Corporation is embarking on an aggressive push into a rapidly-growing sports gambling industry. In October 2020, Twin River rebranded itself as Bally’s to provide more casino and sports betting resources. In November 2020, Bally’s acquired Bet.Works, an in-house betting platform, for $125 million. Bet.Works will provide the interface for Bally Bet in Iowa. In addition, 21 different FOX Sports regional networks rebranded as Bally’s Sports to integrate television broadcasting and sports betting. Bally’s also has exposure on Sinclair Broadcast Group’s local CBS and Fox television affiliates. Bally’s hopes to add two more states in 2021 and more in 2022.

Iowa Sports Betting Overview

On August 15, 2019, Iowa was the 11th state to begin offering sports gambling. The initial agreement stated that casinos could have up to three individually branded agreements or skins with different sportsbooks. At the start of 2021, Iowa began offering online registration for sportsbooks to remove barriers to entry for new players. This transition was significant for increasing betting revenue and opened the door for more operators to join an increasingly crowded market. However, the introduction of more operators in Iowa is great for bettors in the long run, with better value on odds.

From January to May 2021, there was $589.8 million wagered online, which represented 85.7% of the $687.8 million total handle. From August 2019 to December 2020, there was $523.7 million wagered online, 66.5% of a $787.5 million total handle. Thus, in every month of 2021, the mobile handle has represented at least 80% of Iowa’s total betting handle – that did not happen in any month unaffected by the COVID-19 pandemic. For example, in March 2021, Iowa saw a record handle of $161.4 million, which included about $139.4 million in mobile bets.

Jacob Wayne

I've been a huge sports fan for as long as I can remember and I've always loved writing. In 2020, I joined the Lineups team, and I've been producing written and video content on football and basketball ever since. In May 2021, I graduated from the University of Michigan with a degree in sport management. My goal is to tell enthralling stories and provide meaningful insight on the sports I write about while helping you cash some bets along the way.