bet365 Iowa Bonus Code TOPACTION: Choice of 2 Sign-Up Offers

bet365 Iowa Bonus Code TOPACTION: Choice of 2 Sign-Up Offers article feature image

Douglas P. DeFelice/Getty Images. Pictured: Sam LaPorta #84 of the Iowa Hawkeyes.

bet365 entered its fifth U.S. state when it launched in Iowa on June 5, 2023. Sources said the company originally targeted a March launch but had to delay several months. With bet365 bonus code TOPACTION, you'll get either $150 in bonus bets with a $5 wager or a $1,000 first bet safety net.

The world's favorite sportsbook, among the biggest globally, has slowplayed its entrance into the United States a bit. But just in 2023, it's expanded to Ohio and Virginia. Those states joined New Jersey and Colorado as live bet365 states. It also secured licensing in Pennsylvania but did drop out of Massachusetts at the last minute.

bet365 offers arguably the best same game parlay product on the market, a long menu of props, and a terrific user experience. It will be a welcome addition to the Iowa market, which is already crowded but not with many innovative products.

bet365 Iowa bonus code offer

bet365 has two offers available:

  • Bet $5, Get $150 in bonus bets
  • A $1,000 first bet safety net, meaning if your first wager on the platform loses, you'll be refunded in bonus bets equal to what you lost.

When is bet365 launching in Iowa?

bet365 is live in Iowa as of June 5.

The barrier to entry Iowa is fairly low for sportsbooks, with reasonable licensing and tax rates. Operators must pay a $45,000 license fee and $10,000 annual renewal fee, plus 6.75% on sports betting revenue. In Pennsylvania and Illinois, it costs north of 8-figures to get licensed, and in New York, books must pay 51% of revenue in taxes.

That's allowed single-state operators like Elite Sportsbook and Q Sportsbook to open operations there, along with popular Las Vegas books like Circa and SuperBook, which haven't made a huge dent in the rest of the country.

How do bet365's bonus bets work?

Bonus bets work like they do at most other sportsbooks. Say you have $150 in bonus bets and want to bet $10 of that on the Chicago Cubs at +120 against the Milwaukee Brewers.

  • If the Cubs win, you profit $12, but you don't keep your $10 bonus bet. So you'll now have $12 in cash, plus $140 in bonus bets remaining.
  • If the Cubs lose, you just lose the bonus bets, and will have $140 remaining.

bet365 also doesn't have aggressive expirations on their bonus bets. The only way they'll expire is if your account is inactive for 90 days. You’ll get the bonus bets will be issued one hour after your first $1 or more bet settles, and you must make your first bet within 30 days of account creation. All pretty easy marks to hit.

Unsure what +120 means? Check out our 12 beginner tips for sports betting or Action Network Director of Audio Matt Mitchell on how to read American odds.

Where is bet365 available?

bet365 is available in many countries around the world, but in the U.S., it's available in five states.

  1. New Jersey
  2. Colorado
  3. Ohio
  4. Virginia
  5. Iowa
  6. Pennsylvania (coming soon)

What other sportsbooks operate in Iowa?

As we covered, Iowa is home to a number of smaller sportsbooks given the licensing cost and sports betting laws. It's even home to the only sportsbook owned by a municipality in the nation — Q Sportsbook in Dubuque.

Here are the licensing requirements to know:

  • $45,000 license fee, $10,000 annual renewal fee. Quite reasonable compared to 8-figure licenses in Pennsylvania, and 51% tax rate in New York.
  • 6.75% tax rate on sports betting revenue
  • Sports betting regulated by the Iowa Racing and Gaming Commission
  • Two skins per license allowed

And here are the sportsbooks operating in Iowa as of March 2023:

  1. DraftKings
  2. Caesars
  3. FanDuel
  4. BetRivers
  5. BetMGM
  6. PointsBet
  7. Circa Sports
  8. Betway
  9. SuperBook
  10. Betfred
  11. Barstool Sportsbook
  12. Hard Rock
  13. Bally Bet
  14. Elite Sportsbook
  15. Q Sportsbook
  16. DRF Sportsbook
  17. ClutchBet

By our count, there are also three sportsbooks that shuttered operations in Iowa — Unibet, which continues to operate in other states, Fubo Sportsbook, which shut down all together, and theScore Bet, which was acquired by Penn National Gaming and is focusing on its operation in Canada.

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