- FanDuel has launched a mobile app in the state of Iowa.
- FanDuel opened a retail sportsbook in Iowa in August 2019.
- FanDuel has partnered with the Diamond Jo Casino in Dubuque and Northwood.
FanDuel has gone live with a mobile app and online betting in the state of Iowa. The daily fantasy sports pioneer was one of the first entrants into the nascent US sports betting market following the demise of PASPA and has quickly become a market leader. In addition to Iowa, FanDuel offers online betting in Colorado, Illinois, Indiana, New Jersey, Pennsylvania and West Virginia. The company has a ‘retail only’ presence in New York, Michigan and Mississippi.
FanDuel becomes the ninth mobile sports betting option in the state joining PointsBet, William Hill, BetRivers, Q Casino Sportsbook, Elite Sportsbook, Betfred Sports, DraftKings and Hard Rock. There are 18 casinos in Iowa that offer retail sports betting with ten different line originators. Iowa did a solid job setting up their regulatory framework–a marked contrast to neighboring Illinois which has one of the most dysfunctional sports betting markets in the US. The licensing fee is very reasonable ($75k) and the tax rate is 6.75%–the lowest in the country and the same as Nevada. The state’s primary liability is the in-person registration for mobile sports betting but that will only remain in place until January 2021. Overall, Iowa is easily a top five sports betting state.
For now, Iowa bettors that wish to play at FanDuel online will have to visit one of the two Diamond Jo Casinos located in Worth and Dubuque. The properties are operated by Boyd Gaming–they quickly formed an alliance with FanDuel shortly after the US Supreme Court opened the door for US sports betting. FanDuel has operated a retail sportsbook at both of the Diamond Jo properties since August 2019.
Sports betting revenues in Iowa were looking good prior to the COVID-19 pandemic. In February–the last full month prior to the pandemic forced gaming shutdowns across the nation–Iowa did nearly $57 million in handle. The sports betting industry has recovered slowly but steadily–the state did $12.7 million in handle in June with a nice increase in July to $22.9 million. The mobile sports betting handle was $17.8 million representing 78% of total handle in July.