The parent company of Unibet is pulling the brand out of Iowa by the end of the year, which could be a bigger indicator for US sports betting in general.
Kindred launched Unibet in Iowa last September, commenting on Iowans’ “unparalleled” passion for football in its news release.
The brand failed to grab a substantial spot in the market, though, with just 0.2% of handle and 0.5% of revenue for the 13 months it has been live. Those figures of $5.3 million in handle and $1.4 million in revenue are a bit inflated as they include a $1 million futures bet on the Houston Astros to win the World Series from Mattress Mack.
Kindred is now focused on states that include online casino as well, CEO Henrik Tjärnström said during the third-quarter call.