BlueBet Kicks Off US Journey with Iowa Launch
Iowa now hosts BlueBet's inaugural ClutchBet Sportsbook, a new sports betting platform
In a thrilling turn of events, Australian mobile sports betting operator BlueBet has finally stepped into the bustling U.S. market, all thanks to a sports betting license from the Iowa Racing and Gaming Commission (IRGC). The exchange happened on Monday afternoon, making Iowa the first state to witness BlueBet's operations, marking a monumental moment in the company's history.
Commencing the American Adventure
With the license in hand, BlueBet launched its ClutchBet brand in Iowa, initiating the first stage of its "Capital Lite" U.S. entry strategy. Bill Richmond, BlueBet's CEO, expressed his jubilation, expressing his confidence that Iowa sports fans will embrace this new sportsbook offering and its unique market positioning.
BlueBet successfully managed its technology's verification and testing process with Gaming Laboratories International (GLI), ensuring a smooth entry into the U.S. market. The launch in Iowa was facilitated by a five-year market access deal with the Dubuque Racing Association, signed last July, which includes an option for extension for another five years.
Expansion Plans Afoot
Following Iowa, BlueBet plans to bring its ClutchBet brand to Colorado, Indiana, and Louisiana, where market access has already been secured. The company's strategy is to demonstrate the success of its tech-backed approach to sportsbook operations in these states before focusing on the second stage of its U.S. entry strategy – launching its Sportsbook-as-a-Solution offer, which requires B2B partnerships.
Growth Trajectory
Prior to its U.S. debut, BlueBet revealed that its FY22 financial results displayed a remarkable growth trajectory, with turnover and wagering revenue skyrocketing by 48.5% and 53% year-over-year, respectively.
Despite the initial success, the exact launch dates for Colorado, Indiana, and Louisiana remain undisclosed, but BlueBet is undeterred in its multi-state expansion plans, with their ClutchBet brand at the forefront of its U.S. operation strategy.
- Bill Richmond, CEO of BlueBet, is confident that Iowa sports fans will embrace the new sportsbook offering, ClutchBet, due to its unique market positioning.
- BlueBet successfully passed the technology's verification and testing process with Gaming Laboratories International (GLI), ensuring a smooth entry into the U.S. market.
- Following Iowa, BlueBet plans to bring the ClutchBet brand to Colorado, Indiana, and Louisiana, where market access has been secured.
- The company aims to demonstrate the success of its tech-backed approach to sportsbook operations in these states before launching its Sportsbook-as-a-Solution offer.
- Prior to its U.S. debut, BlueBet revealed a remarkable growth trajectory, with turnover and wagering revenue skyrocketing by 48.5% and 53% year-over-year, respectively.
