SportsBetting.com has secured its place in the New Jersey, Indiana, and Iowa sports betting markets.
The parent company of SportsBetting.com, Carousel Group, has reached a 10-year partnership agreement with Caesars Entertainment Inc. for market access to offer online sports betting in the named states plus online casino gaming in New Jersey.
Here’s Carousel Group President and CEO Daniel Graetzer on the agreement:
“We look forward to working with both Caesars and the regulators to launch SportsBetting.com in New Jersey, Indiana and Iowa. We are also finalizing major updates to our products, including new mobile apps and a cutting-edge casino platform.
“Bettors continue to be more product savvy, which is why we built a user-centric tech company with full control over the user experience. Our design principles along with our in-house tech and operations will be the key to our long-term success in the US.”
Four States Unlocked for SportsBetting.com
The Carousel Group made its US debut in September 2020 with the launch of SportsBetting.com in Colorado and will significantly expand its reach with the additions of New Jersey, Indiana, and Iowa.
As the Carousel Group noted in its press release, the deal with Caesars expands SportsBetting.com’s total reach to 24.5 million people across its target states. According to Carousel Group, the additions increase SportsBetting.com’s reachable market value from $109 million to an estimated $1.8 billion.
SportsBetting.com faces intense competition as a late entrant to the sports betting market in all of its target states. The press release highlights SportsBetting.com software being user-centric, but two of its biggest draws are its lines and treatment of sharp bettors.
CEO Daniel Graetzer has noted on multiple occasions that SportsBetting.com aims to beat the competition in line pricing and offering “some of the best odds in the market.” Graetzer has also committed to not cutting off or limiting winning bettors.
SportsBetting.com relies on propriety technology and an in-house trading team, which gives it unique flexibility in an industry primarily dominated by recreational sportsbooks powered by a handful of third-party service providers. As such, SportsBetting.com aims to react quickly to customer feedback, keep its lines sharp, and provide unique tools and features.
NJ Online Gambling Market a Prize for Carousel Group
Carousel Group dedicated a couple of lines in its press release to highlight its ability to offer online gambling in New Jersey, which it describes as “an extremely attractive US online casino market.”
The press release notes New Jersey’s online gambling revenue has grown significantly over the past year alone, from $483 million in gross gaming revenue in 2019 to $961 million in 2020.
2020 was not a typical year with coronavirus-related casino closures pushing players online, but NJ’s online gambling market is strong nonetheless. As BettingUSA’s Steve Ruddock recently noted, the NJ online casino industry was in a period of sustained growth even before COVID-19 closed the state’s land-based casinos for months on end.