There has been a lot of hype about Fubo TV Inc. since they chose to enter the sports betting market. Now, the wait is over as Fubo Sportsbook is Live after receiving approval from the Iowa Racing and Gaming Commission. The approval of the sportsbook was done via a market agreement with Casino Queen.
According to gambling software news, Fubo sportsbook is now available on its mobile apps and sports betting shops within Iowa. The approval from the IRGC was given in August but Fubo did not expect to launch until the fourth quarter. As per their expectation, they are now the 14th sportsbook to operate in Iowa.
Even though it is a late start in the football betting season, November is still a good month for bookies. While the number of new players drop, the new signups are still high in comparison to the slow season. However, what makes Fubo sportsbook different from the competition is that they already have access to potential customers. This is because area a subsidiary of Fubo TV, a popular sports streaming platform with a large client base. Needless to say, they hope to convert their live sports streaming client to sports betting clients.
FUBO Sportsbook is Live in Iowa with Plans to Expand
For Fubo sportsbook, Iowa is just the first stop on their way to expand into other states. According to Pay Per Head Blogs, they have made a few deals to give them access to 4 other states. These include
- Pennsylvania via the Cordish Companies
- Indiana via Caesars Entertainment)
- New Jersey via Caesars Entertainment
- Arizona via Ak-Chin Indian Community
While no specific date has been made, Fubo expects to open in these markets this year or sometimes in 2022. In addition, Fubo now holds a Management Services Provider Certification from the Arizona Department on Gaming (ADG). Such a certification will allow them to branch out even more in Arizona.
According to gambling analysts, the cost of expanding their bookie business should be minimal for Fubo. This is because they do not have to worry as much about advertising and getting new customers. Thus, they can increase their sports betting market share converting their sports viewers into betting clients.