The latest regulatory approval

Caesars is set to be the seventh licensed sports betting app to go live in Indiana, with the Indiana Gaming Commission giving its approval for Caesars Entertainment to launch the app on Tuesday. 

the seventh licensed sports betting app to go live in Indiana

There was no indication from Caesars regarding when the app will go live in the state. The authorization notes from the gaming commission cited May 19 as the launch date that had been requested by the operator. Scientific Games will be the technology provider for the sportsbook. 

The app will be operating through the Horseshoe Hammond Casino’s license. Each casino in Indiana is able to partner with three different online sports betting operators. 

Slow launch times

While Caesars was one of the first significant online sportsbooks to launch in the US market, it has been taking a slower approach to expansion.

The Nevada mobile sportsbook entered the scene in 2017, while its New Jersey presence came in time for the beginning of the 2018 NFL season. Caesars’ third sports betting app offering went live in Pennsylvania in March 2020. 

Caesars had gotten approval for a temporary sportsbook license back in August 2019, and has only now received a full permit. 

Recent sports betting struggles

The first mobile sportsbooks in Indiana enjoyed considerable success on going live in September 2019. Revenues rose steadily month after month as more entrants launched.

Once the global coronavirus pandemic set in, major sporting events across the world got canceled. Sportsbook operators in Indiana have been struggling since, having to rely on more obscure types of betting markets. As per Indiana state law, sportsbooks cannot offer bets on esports, an area that has become more popular in other states.  

sportsbook revenues were just $1.6m in April, showing a 71.6% loss compared to March

The total betting handle in April 2020 for the state was $26.3m, indicating a drop of 64.8% compared to March figures. Sportsbook revenues were just $1.6m in April, showing a 71.6% loss compared to March. 

Returning to normality

There is hope that sportsbook fortunes will improve in May as numerous sports organizations are looking to resume activity. The likes of the UFC, NASCAR, and the Bundesliga German soccer league have all returned to action in recent weeks. 

Horse racing in Indiana has also been given the all-clear to resume behind closed doors from June 14 by the Indiana Horse Racing Commission. There will be strict health and safety protocols in place. As a result of the pandemic, there have been no horse racing meets in the state so far in 2020. 

According to the state’s gaming commission, physical casino facilities will likely remain closed until June 14. Reopening would be part of phase four of Governor Eric Holcomb’s reopening plan.