Caesars Sportsbook Announces Major Partnership

Caesars Sportsbook Announces Major Partnership

Caesars Sportsbook is a name that is synonymous with legal sports betting, and now the name is synonymous with racing. Caesars recently announced that it has reached a deal to become the official sports betting partner of the Indianapolis 500 and of the Indianapolis Motor Speedway. 

 

The timing of this partnership could not have been any better for Caesars as the 2022 Indy 500 is set to take place on May 29. Caesars Sportsbook will actually be the sponsor of the entire 2022 race season at Indianapolis Motor Speedway.

 

The Caesars Sportsbook Lounge is set to open up at the race track, and it will be open for business when cars are on the track. Food and drink will be provided to everyone in the Caesars Sportsbook Lounge, and there will also be plenty of giveaways. 

 

Indianapolis Motor Speedway will allow Caesars to use official logos and data and the sportsbook will then use that to create unique experiences. Reward members at the site will be eligible to win VIP experiences during the Indy 500, and other races at the speedway. 

 

This will be the 106th running of the Indianapolis 500, and new customers at Caesars can receive $106 in free bets when signing up. 

Sports Betting Dips in April

Indiana was among the first wave of states to announce April sports betting numbers, and they were about as what was expected. The total sports betting handle for the month was right around $360 million, but that was a decrease of $110 million from a massive March. 

 

April is typically a slow month in the sports betting industry, but basketball was still a popular sport to wager on in Indiana. The total handle on basketball games was over $129.2 million, and parlay betting came in second with $91.3 million. 

 

Despite less action during the month of April, sportsbooks in the state still had a profitable month. The total sports betting revenue was up more than $28 million, and the state was able to bring in $2.7 million in revenue. 

 

These sports betting numbers should remain low over the next couple of months as bettors are gearing up for football. 

FanDuel, DraftKings Still on Top

Caesars Sportsbook had the fourth-highest handle total for the month of April as it brought in $37 million in wagers. While that is a solid number, it doesn’t even come close to challenging the biggest operators in the state.

 

FanDuel Sportsbook continues to set the tone in Indiana and it had a total betting handle of $112.4 million last month. DraftKings came in second at $101.5 million, and BetMGM was a distant third at $46.7 million.

 

Even though Caesars should see a significant boost in action during the Indianapolis 500, it still won’t be enough to allow it to challenge the top two sportsbooks on the list.