Online gambling operator Tipico has further extended its reach in the US by rolling out its sports betting offering in Iowa.
After securing approval from the Iowa Racing and Gaming Commission, Tipico launched in the state via its Tipico USA Technology business and is now accepting online wagers from Iowa consumers.
The launch means Tipico is live in four states across the US, with the operator having also gone live in New Jersey, Colorado and, more recently, Ohio after the state opened its legal online sports betting market earlier this month.
“Iowa betters will be able to use a very simple product with fast deposits and withdrawals, experience cutting edge functionality in Live betting, SGP+ with wide coverage on player props, and can cash out anytime— including partial cash out capabilities,” Tipico USA chief executive Adrian Vella said.
“To top it off, Tipico’s functionality is run from within the US with customer service based in New Jersey.”
The launch comes after the Iowa Racing and Gaming Commission this week announced the latest set of monthly figures for the state’s sports betting market.
Revenue for December reached $20.4m, which was 52.2% up from $13.4m in December of 2021 and 251.7% higher than $5.8m in November 2022 when Iowa suffered a sharp decline following multi-million-dollar winning bet payouts to US businessman Jim ‘Mattress Mack’ McIngvale.
Of the total revenue posted in December, $17.6m came from online sports betting, while a further $3.1m was attributed to retail sportsbook activity.
In terms of handle, players wagered some $229.9m on sports during December, which was down 13.7% from $266.5m in the same month in 2021 and also 7.1% behind $247.5m in November of 2022.
Some $206.9m was spent betting on sports online, while the remaining $23.0m was wagered at retail sportsbooks in Iowa.