Fanatics Betting and Gaming (FBG) is rapidly expanding across the US, and the most recent state where its services will be offered is Iowa. The company will replace the popular PointsBet brand and strengthen its position in the States.
Iowa fans welcome Fanatics Sportsbook:
The Fanatics Sportsbook mobile application is now available in Iowa, so the players can download it and place their bets. However, if they have already used the PointsBet app, all of their data will be transferred to the new app, including username, password, account balance, rewards points, and all settings related to responsible gaming.
But changes aren’t related only to the online betting industry. The retail sportsbook located at Catfish Bend Casino that was operated by PointsBet also became a Fanatics Sportsbook. The property will see new Suzohapp’s self-service betting kiosks.
Fanatics Sportsbook is already very popular in the US, so Iowa is the 12th state to welcome it, following Colorado, Connecticut, Kentucky, Maryland, Massachusetts, Ohio, Pennsylvania, Tennessee, Vermont, Virginia, and West Virginia. In Pennsylvania and West Virginia, the players are also able to enjoy various casino games through Fanatics Casino.
Fanatics is working towards replacing PointsBet sportsbooks all over the country after it acquired PointBet’s US operations in August 2023.
According to the source, it is unknown yet when all the changes will be completed, but according to Fanatics, everything is progressing as planned.
Revenue report:
Iowa’s sports betting market is rapidly growing. In December, the handle was $282.7 million, which represents 23% annual growth. However, compared to November 2023, a decrease of 2.4% is recorded, since November’s handle was $289.7 million. From that amount, $258.3 million was spent on online gaming, while $24.4 million on retail sportsbooks.
The revenue in December was $26.3 million, which is 28.9% more than in the same month 2022. In November the revenue was $14.1 million, so an increase of 86.5% is recorded. Online betting brought $23.6 million in revenue, while retail operations earned $2.7 million.
In December, the most successful sportsbooks in the state were Diamond Jo Dubuque and FanDuel with $7.2 million in revenue and a handle of $68.7 million. Wild Rose in Jefferson and DraftKings took the second place, with a revenue of $4.0 million and a handle of $43.3 million. Another partner of DraftKings, Wild Rose in Emmetsburg, finished a month in third place, with revenue of $3.0 million from $27.5 million in bets.
Catfish Bend Casino and PointsBet earned $331.818 in revenue from $4.6 million generated in bets.
Will Fanatics’ sportsbook be more successful than PointsBet’s one? It remains to be seen in 2024.
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