Tipico launches mobile sportsbook in Iowa as company continues US expansion
“We are thrilled to grow our footprint and give Iowa customers access to our propriety product and competitive offering,” said Adrian Vella, CEO of Tipico USA, in a statement.
Tipco features “cutting edge functionality in live betting” along with “wide coverage on player props” to go along with full and anytime cash out options, according to a release announcing the Iowa launch. Tipico also offers single-game parlays, an increasingly popular betting option that allows bettors to string together multiple bets from an individual game into a solitary wager.
Tipico looks for US breakthrough
Though it has doubled its US footprint in less than two weeks, Tipico still has a long road to gaining sizable market share in the US.
A leading European operator, particularly in Germany, Tipico is largely unknown to most US bettors. In New Jersey and Colorado, where it houses its tech operations and customer service center, respectively, Tipico has struggled to break single-digit market share. Both markets have more than 20 live operators apiece, including US market leaders FanDuel, DraftKings, BetMGM and Caesars.
This months’ Ohio launch was Tipico’s first in which it started taking bets on the same date as most of its competitors. Sixteen Ohio sportsbooks started taking bets Jan. 1, including the aforementioned market leaders.
Tipico hopes to stand out in the Buckeye State through partnerships with a diverse range of organizations.Tipico is the official sportsbook of MLS’ Columbus Crew and also has a first-of-its-kind deal with live entertainment organizer AEG presents. The sportsbook also has a media partnership with USA Today owner Gannet, which uses its odds within its publications.
The Iowa launch as well as the pending Indiana launch come through Tipico’s partnership with Caesars, which operates casinos in both states. Tipico hasn’t announced any further expansion plans, but an extended Caesars partnership could lead to similar market access deals in additional online sports betting markets such as Louisiana.
Iowa betting shift continues
In Iowa, Tipico joins one of the largest – and most dynamic – rosters of legal betting options.
One of the first states to legalize online sports betting, Iowa’s market structure and business-friendly tax rates have made it a target of most major US operators and a launching pad for upstart companies. Along with the quartet of US market leaders, other major brands including PointsBet, Barstool, Hard Rock and BetRivers have gone live in the Hawkeye State, some since as early as 2019.
The TwinSpires mobile app also stopped taking sports bets in the state after parent company Churchill Downs closed its online sportsbook offerings early last year.
Along with most major national brands, Iowa also is one of just a handful of states with the Circa online sportsbook, which has been lauded by sports bettors for its high betting limits for “sharps.” Iowa has several additional national brands including Bally Bet, Betfred, Betway and SuperBook.
Iowa’s regulatory structure has provided an entry point for several smaller and regional brands. That includes ELITE, Q Sportsbook and ClutchBet, a subsidiary of Australia’s BlueBet sportsbook.