Caesars Sportsbook has partnered with the New York Racing Association to create an app called NYRA Bets, and it has launched in Florida and Ohio. Now the platform will be available in Indiana ahead of Saturday’s Belmont Stakes.
Caesars is Expanding its Reach in Horse Racing with the Addition of Indiana
The app has expanded into three jurisdictions in just two weeks, which is a big step in terms of marketing and expanding its reach to new consumers.
The platform is available on IOS devices as the goal is to “Utilizes the NYRA Bets platform providing bettors with pari-mutuel wagering on premier horse racing content from more than 250 tracks around the world with betting on marquee tracks in the United States and internationally.”
This is a strategic move for Caesars Sportsbook as the operator owns the two race tracks in the Hoosier State, which feature Harrah’s Hoosier Park and Horseshoe Indianapolis. Horseshoe Indianapolis went through a name change as it was rebranded from what it was previously known as Indiana Grand.
Indiana is one of the prominent sports betting markets in the sports betting industry as the bookmakers in the state combined to bring in a total of $308.3 million in wagers for May.
Despite the slowdown as summer approaches, Indiana sportsbooks brought in at least $300 million in bets for the ninth straight month. It has become the fifth state to reach the $8 billion handle mark in the post-PASPA era.
Both of the racino locations that Caesars owns offer its visitors casino gaming and sports betting. Caesars also offers features where users of their platforms can accumulate points so they can redeem them for prizes.
Why Horse Racing Will Become the Next Big Draw in the Industry
Caesars could have a huge advantage in this sector moving forward as the company offers its customers the Caesars Rewards loyalty program. Caesars Digital’s Senior Vice President and Chief Development Officer, Dan Shapiro, stated in a press release;
“We look forward to welcoming new horse racing customers and existing fans onto the platform and to working with NYRA Bets to grow horse racing as we deploy Caesars Racebook with plans to launch in about 30 states across the country.”
The partnership allows Caesars to reach more people through the Racebook platform as the market brought in a stunning total of over $12 billion in pari-mutuel wagering in 2021. Caesars also made some big adjustments and upgrades to the two racino properties in the state.
With the conditions stated by the state’s Horse Racing Commission, Caesars made $60 million in upgrades to the racino locations. The Commission also approved its $17 billion merger with Eldorado Properties in 2020.
Horse racing is certainly a big draw, especially in some jurisdictions throughout the country. New users that sign up for the app are eligible to receive a special welcome bonus promotion that allows them to receive a 100 percent deposit match bonus of up to $500.
Caesars Sports Betting Push is Still a Huge Part of the Business Plans
Caesars Sportsbook is a reputable platform in the sports betting industry but has struggled at times as competitors like FanDuel, DraftKings, and BetMGM are bigger handles across several different states on the monthly reports.
In Indiana, Caesars’ monthly handle for May was situated at $30.4 million, which rounded out the top four.
Still, Caesars has many well-known brand ambassadors and continues to extend partnerships across several different sports leagues.
Just to name a few, Caesars Sportsbook became the official sports betting partner of the New York Mets and Chicago White Sox not too long ago.