BlueBet, via the online wagering provider’s Indiana subsidiary, has signed a market access agreement with Horseshoe Hammond Casino to secure access to The Hoosier State.
The alliance, which comes with an initial ten-year term, with the Caesars Entertainment property represents the group’s fourth across the US and will permit the group to operate a digital sports wagering entity under its ClutchBet B2C brand.
“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 US’ major sporting markets,” commented Bill Richmond, BlueBet Chief Executive Officer.
“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 US.
“There is no shortage of opportunities for further B2C expansion in the US, 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.
“The size of the opportunity in the US continues to grow with Americans having bet $125bn on sports in the four years since legalisation. With many more states still to come online we could not be more convinced that our differentiated B2B offer is the best approach to access this opportunity in a disciplined and purposeful manner.
“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.”
BlueBet states that its focus and capital will now be directed towards executing in each of its four initial states, alongside seeking partners nationwide for the launch of its white-labelled sportsbook-as-a-solution B2B offer.
The company expects to take its maiden bets in Iowa during the coming weeks, which it says will be followed by Colorado, Louisiana and Indiana during the first half of 2023.
