UK based bookmaker BetFred has announced a partnership with Elite Casino Resorts for sports wagering at Grand Falls Casino Resort in Iowa.
Once the partnership receives regulatory approval from the state regulators, BetFred will offer patrons at Grand Falls access to land-based sports betting as well as online and mobile betting.
According to a press release, BetFred will also provide the venue with a full suite of managed products including BI/Analytics, Anti-Fraud, Trading, Compliance/GDPR, Customer Support, Payments, Marketing, and trading operations support.
The partnership was made possible after the Iowa Racing and Gaming Commission approved BetFred Sports Iowa LLC as an Out of State Vendor on 11 July 2019.
Dan Kehl, CEO of Elite Casino Resorts said, “We are excited to offer our guests another world-class product. With Betfred, Grand Falls Casino and Resort will be the best place in Iowa for sports betting at our casino and on a safe and secure platform.”
Fred Done, Chief Executive and co-founder of Betfred said: “I’m delighted to partner with Elite Casino Resorts in Iowa and we look forward to working with our new partners and sharing our joint expertise in what is a very exciting opportunity and market for Betfred.”
BetFred, founded in 1967, is one of the largest bookmakers in the UK. What began as a single betting shop has now grown into one of the UK’s biggest names in betting, with over 1,600 retail betting shops across the country.
This partnership is the first of its kind for BetFred in the US and could help to boost revenues for the company. Last month, the British bookie reported a £40.7m ($51.8m) loss after tax for the 12-month period that ended on 30 September 2018.
In April, BetFred also partnered with SCCG Management in Las Vegas Nevada in order to represent the company in the development of the US tribal and commercial gambling market.
Yet another partnership in Iowa
In recent months several companies have forged sports betting agreements in the Hawkeye State.
In April, the Australian sports betting operator PointsBet inked a multi-year deal with Catfish Bend Casino for sports betting in Iowa. The deal will see PointsBet offer land-based, online and mobile sports betting in Iowa. The two companies will also work together to create a “multi-faceted sports entertainment venue.”
In January, William Hill US partnered with Prairie Meadows for a potential sportsbook in the event that the state legalized sports betting. Under the deal, William Hill will become the casino’s official sportsbook operator.
Sports betting in Iowa
On 14 May, Iowa became the third state to legalize sports betting in 2019.
The state’s law legalizes land-based and state-wide online and mobile sports wagering. Once sports betting goes live, bettors hoping to create an online account will be required to register in person at a land-based sportsbook up until 1 January 2021. After this date, punters will be able to register accounts remotely from anywhere within the state.
Sports betting laws in Iowa prohibit wagering on sporting events that involve Iowa’s college teams.
Elsewhere in the US, sports betting went live in New York, making it the ninth state to launch sports betting in the US.