Global exchange platform Smarkets and omnichannel gaming brand Affinity Interactive announced a new agreement for sports betting market access in the state of Iowa, where Smarkets will launch its SBK sportsbook app, which draws prices from the Smarkets betting exchange.
The product is expected to be launched in Iowa later this year. In 2019, the company signed an agreement with Full House Resorts, and the SBK app has been live in Colorado since June 2020, with an additional launch planned in Indiana prior to SBK’s introduction in Iowa.
In an official press release, Jason Trost, CEO/Founder of Smarkets, spoke about this new jurisdiction where the company will commence its operations and said: “I’m incredibly excited about this deal. The potential for SBK is huge in America, so adding our third licensed state is key as we move to our next stage of growth. It is particularly meaningful for me as my family is from Iowa, and so I have always wanted the opportunity to launch there. I can’t wait for bettors in Iowa to enjoy SBK’s market-leading odds.”
Mary Beth Higgins, CEO of Affinity Interactive, added: “We are pleased to help Smarkets add SBK to another U.S. marketplace, and look forward to welcoming them to Iowa.”
Affinity Interactive is the owner of Daily Racing Form, and DRF Bets online and mobile wagering platform, which launched its first online sportsbook in Iowa in January.
The state of Iowa legalized sports betting in May 2019, and wagers totaled more than $2 billion in 2021.