Indiana’s retail sports betting is just a few days old, but online/mobile betting is on the horizon.
In preparation for online gambling on sports in the Hoosier State, Full House Resorts, owner of the Rising Star Casino located about 40 miles from Cincinnati, on Wednesday announced a partnership with sports betting operator Smarkets. The deal gives the U.K.-based firm, operator of one of the world’s largest betting exchanges, access to the potential Colorado market as well. Voters in Colorado will decide in November whether the state should legalize and regulate sports wagering.
Smarkets, which has its U.S. headquarters in Los Angeles, said in a presser that the deal is a “multimillion-dollar, long-term partnership” with Full House Resorts.
In August, Smarkets announced the launch of its new sportsbook app called “SBK.” The company said that the app will be available for download in Indiana, on both iOS and Android, in late 2019.
‘Landmark day’ for Smarkets
The deal with Full House Resorts is the company’s first foray into the American U.S. sports betting market.
“This is a landmark day for Smarkets,” the company’s CEO and founder Jason Trost said. “As an American myself, I’m thrilled to bring our world-leading technology to Indiana and Colorado, as well as more states across the country. I truly believe that an agile company like ours can make a huge impact against some of the bigger players thanks to our superior technology and focus on providing the best prices.”
Full House Resorts SVP and Chief Development Officer Alex Stolyar added: “This is a very exciting time for sports betting in Indiana and Colorado, and we are delighted to partner with Smarkets. The SBK sportsbook platform that Jason and his team have built brings many new innovations to the industry, including a unique social network to heighten the customer experience.”
Smarkets said that it also “sees an opportunity in the future” to introduce its betting exchange, which has processed more than $15.6 billion in trading volume, “as more states adopt online sports betting.”
Other partnerships in Indiana
Smarkets joins a handful of other linkages in Indiana for online sports wagering.
The following firms have already received temporary vendor licenses for sports betting by the Indiana Gaming Commission.
- William Hill (Tropicana Evansville)
- FanDuel (Belterra and Blue Chip)
- DraftKings (Ameristar East Chicago)
- Rush Street Interactive (French Lick Resort)
Smarkets will have to compete with the aforementioned online betting firms, who all have experience in the established New Jersey market, where about 85% of the total sports betting handle comes through the internet. Each Indiana casino is allowed three “skins” for online/mobile sports wagering.
Thanks to a blockbuster skins deal from Penn National gaming just a handful of weeks ago, the likes of PointsBet, theScore, and The Stars Group also have access to the Indiana market. TSG this week retired its BetStars sports betting brand, under its own blockbuster deal that lead to the creation of FoxBet.
The first Indiana online/mobile sports betting platform is expected to launch this fall. Companies are tight-lipped about their respective plans.
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