Fanatics Betting and Gaming (FBG) has announced the launch of its sportsbook in Iowa, replacing the PointsBet brand in the Hawkeye State.
Players in Iowa can now download and place bets on the Fanatics Sportsbook mobile app. Existing PointsBet customers’ usernames, passwords, account balances, rewards points and responsible gaming settings will automatically migrate to the Fanatics Sportsbook.
The existing PointsBet retail sportsbook at Catfish Bend Casino will also be rebranded as a Fanatics Sportsbook. This project will include installing new self-service betting kiosks from Suzohapp.
Iowa marks the 12th state for the Fanatics Sportsbook. It is also the latest phase of FBG phasing out the PointsBet brand across the US following its acquisition of PointsBet US in August 2023.
The Fanatics Sportsbook is also online in Colorado, Connecticut. Kentucky, Maryland, Massachusetts, Ohio, Pennsylvania, Tennessee, Vermont, Virginia and West Virginia. In addition, retail betting venues operate in both Pennsylvania and West Virginia.
Aside from sports betting, FBG also offers casino gaming via the Fanatics Casino. At present, this is only available in Pennsylvania and West Virginia.
FBG previously stated that subsequent completions in other US markets are tracking as planned. The operator has not put a timescale on when it expects further acquisition and subsequent launches to be finalised.
Expanding sports betting market in Iowa
FBG takes over from PointsBet in Iowa with the state’s sports betting market continuing to expand.
The most recent monthly results in December showed a $282.7m (£224.0m/€262.5m) handle. This was 23.0% up from $229.9m in Iowa in December 2022 but 2.4% behind $289.7m in November 2023. Some $258.3m was spent betting online and $24.4m at retail sportsbooks.
As for revenue, this reached $26.3m in December, up 28.9% from $20.4m in the previous year and also 86.5% ahead of November’s $14.1m. Online betting accounted for $23.6m of all revenue and retail wagering $2.7m.
Diamond Jo Dubuque and FanDuel were the December market leaders, reporting revenue of $7.2m from $68.7m in bets.
Wild Rose in Jefferson and DraftKings were second with revenue of $4.0m and a $43.3m handle. Wild Rose in Emmetsburg, another DraftKings partner, was third with $3.0m worth of revenue from $27.5m in wagers.
As for the legacy PointsBet brand, its partnership with Catfish Bend Casino generated $331,818 in revenue from $4.6m in bets during December.
