Indiana’s sports betting market continues to grow, and another sportsbook is on its way.
On Thursday, the Indiana Gaming Commission announced that Betway, a sports betting app and website from the Malta-based Betway Group, was approved to launch in the state on Friday, May 28. Betway partnered with Boyd Gaming’s Belterra Casino Resort to gain access to the Indiana gambling market.
On April 6, the IGC approved the entity dubbed Digital Gaming Corporation, which is Betway, for a conditional vendor license. It took less than two months since the license approval for the platform to be approved by gaming regulators to go live.
It’s been a busy spring and early summer for Betway. On May 14, Betway, which primarily operates in Europe, announced a sponsorship deal with the National Hockey League, in what was the brand’s first North American sports league agreement. The NHL has similar deals with other gambling operators.
In March, Betway signed deals with five NBA teams for marketing purposes (Brooklyn Nets, Chicago Bulls, Cleveland Cavaliers, Los Angeles Clippers, and Golden State Warriors). Only the Bulls play in a state market (Illinois) that currently has online sports betting.
Indiana is Betway’s second U.S. market. It’s also live in Colorado.
Boyd continuing success with another skin
For Boyd Gaming, Betway is its third affiliated brand to launch in the state, following previous launches of Boyd partners FanDuel and BetMGM. Betway will have a long way to go to catch up with rivals.
In April, the most recent month of Indiana sports betting figures, the state’s sportsbooks handled $236.4 million and kept $20.1 million collectively on a 8.49% win rate . DraftKings handled nearly $80 million of that pie, followed by FanDuel with just a tick over $67 million. BetMGM was third with just under $31 million.
While Betway will have a ways to go to make a meaningful dent into the market share of the leading competitors in the market, it could quickly move up from the bottom of the leader board. Rising Star Casino partner Churchill Downs and its TwinSpires branded sports betting platform handled just $158,000 in April. WynnBet, which launched April 1, was in second-to-last place with about $400,000 in handle.