Australian racing and sports betting operator BlueBet (BBT) announced Monday it has received the license required to operate its online sportsbook ClutchBet in Iowa. The state's Racing and Gaming Commission granted the permit, allowing the brand to take its first US bets.
ClutchBet was launched earlier this year as part of BBT’s two-stage capital-light entry strategy to launch a B2C business to access the US market before launching a white-labeled Sportsbook-as-a-Solution offering. With market access in Colorado, Louisiana and Indiana, BlueBet said launching in Iowa provided a platform to execute the first stage of its strategy.
BlueBet CEO Bill Richmond said BlueBet was now officially live in the US, marking a “huge moment” in the company’s history: “We are thrilled to bring our sportsbook to Iowa sports fans who we are confident will respond well to our mobile-first online offering and differentiated market positioning."
“This continues our ‘Capital Lite’ US market entry strategy, as we initially launch our ClutchBet sportsbook into our initial four states while now also focusing on securing B2B partners for the second stage, being our white-labelled Sportsbook-as-a-Solution offer," he noted.
BlueBet describes itself as a mobile-first online bookmaker "with a vision to provide more innovative wagering products to customers of Australian and international racing and sports." The company currently offers wagering products on 31 sports both in its home market of Australia and internationally, plus entertainment and politics wagering markets.