Caesars has introduced its popular Racebook product to consumers in New York, enabling them to engage in pari-mutuel betting on races from over 300 tracks around the world.
The Caesars Racebook, which is tied to the Caesars Rewards loyalty program, allows players to accumulate points with each wager they place. These points can be converted into various experiences at Caesars locations across the United States and Canada.
Caesars Racebook expands its market in the US
Having already seen success in multiple states, including California, Colorado, Florida, and others, Caesars plans to extend the availability of its Racebook to additional regions across the United States.
This expansion into New York is a joint effort with NYRA Bets, the online betting platform associated with the New York Racing Association. The collaboration aims to provide a premier mobile wagering experience for horse racing enthusiasts.
Caesars Digital’s Senior Vice President, Dan Shapiro, emphasized their commitment to horse racing and expressed excitement about partnering with NYRA Bets to offer horse racing fans an exceptional betting experience.
Tony Allevato, President of NYRA Bets, highlighted the significance of this expansion, stressing that it will contribute to the ongoing success of horse racing in New York State.
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How Caesars aims to dominate the racebook market
The introduction of Caesars Racebook to New York is a strategic move that solidifies the operator’s foothold in the state’s wagering market. Caesars was among the earliest operators to launch in New York’s regulated online market following the commencement of mobile betting in January 2022.
While Caesars has made commendable progress over the past 18 months, DraftKings and FanDuel remain dominant players in New York’s wagering landscape. In July, Caesars recorded $10.6 million in online sports betting revenue from a handle of $111.1 million, positioning it as the third highest earner among the nine licensed operators in New York.
However, Caesars still trails behind the leading contenders. FanDuel reported $41.09 million in revenue and $384.6 million in online sports bets for July, while DraftKings closely followed with $41.09 million in revenue and a handle of $340.4 million.
As the horse racing scene in New York gains momentum with Caesars’ Racebook introduction, the operator’s commitment to expanding its influence in the state’s wagering market remains evident. For now, the figures look good and it’s only a matter of time until Caesars gets the whole US market in its services.
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