BlueBet signs online market access deal with Caesars’ Horseshoe Casino in Indiana

BlueBet will run an online sportsbook under its ClutchBet brand.

US.- BlueBet Holdings has announced that its wholly-owned subsidiary BlueBet Indiana has signed an online market access agreement with Caesars’ Horseshoe Casino in Hammond, Indiana. The 10-year deal will enable the company to run a new online sportsbook in Indiana under its ClutchBet consumer brand, pending regulatory approval and licensing.

The market access agreement is BlueBet’s fourth in the US. The company expects to launch in Iowa in July, followed by Colorado, Louisiana and Indiana in 2023. With access in four states now secure, BlueBet believes it has a platform to successfully launch its Capital Lite U.S. entry strategy.

BlueBet chief executive officer, Bill Richmond, said: “We are excited to announce our agreement with Horseshoe Hammond, part of the Caesars Entertainment stable, to secure market access in Indiana, one of the U.S.’s major sporting markets.

“BlueBet now has market access in four U.S. states, which provides a strong platform to roll out our B2C brand, ClutchBet, and demonstrate the capability of our technology and team to run profitable sportsbooks in the U.S. There is no shortage of opportunities for further B2C expansion in the U.S., but our focus and capital are pointed firmly towards executing in our initial four states as we seek partners for our Sportsbook-as-a-Solution B2B offer.

“We are well funded to execute our Capital Lite US market entry strategy and remain highly confident in our ability to capture this huge market opportunity.”

In April, BlueBet gained entry to Louisiana after securing a market access agreement with Rubico Acquisition, owner of Bossier City casino and racetrack operator Louisiana Downs.

Indiana sports betting handle falls to $308.4m in May

Indiana’s sports betting handle came in at $308.4m in May, 14.3 per cent lower than April’s $360m, but 21.2 per cent higher year-on-year. May’s figures marked the second consecutive month of decline.

Basketball was again the most popular sport according to figures from the Indiana Gaming Commission. It accounted for $84.4m in bets. Baseball wagers reached $69.1m and football $2.3m, while parlay betting amounted to $73.1m and other sports $77.2m.

See also: Caesars Racebook expands to Indiana