Carousel Group has entered a multi-state, 10-year partnership with Caesars Entertainment that will see its SportsBetting.com brand become available to customers in three new states.
Through the agreement, Carousel’s flagship betting site will operate in New Jersey, Indiana and Iowa, with online casino also offered in New Jersey, pending obtaining all necessary gaming licenses.
Carousel said the agreement will increase its addressable market in the US from $109m to an estimated $1.8bn, with 24.5 million people residing in the target states. SportsBetting.com began operating in Colorado last year through a partnership with local licensee Johnny Nolon’s Casino.
“We closed out 2020 with the launch of SportsBetting.com in Colorado and we are thrilled to start 2021 with the announcement of our multi-state agreement with Caesars, a giant in the casino industry and the perfect strategic partner to help us aggressively expand our market access in the US,” said Daniel Graetzer, president and chief executive of Carousel.
“We look forward to working with both Caesars and the regulators to launch SportsBetting.com in New Jersey, Indiana and Iowa.
“We are also finalising 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.”
Carousel, which has offices in New Jersey, Malta and Spain, recently obtained a B2C online sports betting and casino gaming licence from the Malta Gaming Authority (MGA). With its Malta licence in place, SportsBetting.com in November said it aims to expand into new markets such as the Canadian province of Ontario, and other European jurisdictions.
SportsBetting.com is powered by Carousel’s proprietary platform and in-house trading and risk teams.