Caesars Sportsbook and the Indianapolis Colts have formed an exclusive partnership. The two parties announced a deal earlier this week in which Colts fans would receive a $500 discount on season tickets to Colts games the following year if they opened an account with sports betting operator Caesars Sportsbook.
Players for the Indianapolis Colts
During a game between the Indianapolis Colts and the Jacksonville Jaguars in January 2021, Indianapolis Colts running back Jonathan Taylor gave Chris Claybrooks a stiff arm. Following the announcement of a partnership between the Indianapolis Colts and Caesars Sportsbook, new Caesars customers will be eligible for a $500 discount when they make their first purchase or renew their membership for the 2022-2023 season. (Photo courtesy of Trevor Ruszkowski / USA TODAY Sports)
Colts fans must first renew or purchase new season tickets for the upcoming 2022 season to be eligible. In addition, new season ticket holders are required to purchase at least two tickets for each game. The next step would be for them to download the Caesars Sportsbook app onto their mobile device, create an account, make a deposit, and place a $50 bet.
These new Caesars customers would receive a $500 reimbursement in exchange for their business. This offer is subject to some conditions and restrictions. The Colts’ official website has a wealth of additional information.
A check of the Colts’ official website’s tickets page on Thursday night revealed that a season ticket could be purchased for $ 470. There are many more tickets available, with prices starting at $530. In addition, the purchase is subject to a ten-dollar service charge.
According to Chris Holdren, co-president of Caesars Digital, sports bettors deserve promotions and incentives that treat them like kings. “Because we have a partnership with the Colts, we can keep that promise and continue to reward loyal Colts fans.”
Current Caesars Sportsbook customers will not be eligible for the discount; however, the Colts and Caesars are offering a free $100 bet on the Colts’ game against the Las Vegas Raiders on January 2 to any current Caesars customer who purchases or renews a season pass. This promotion is only valid for the game between the Colts and the Raiders.
Caesars expands its market share in Indiana
The subscription offer is being made available as the sports betting industry strives to expand its presence in today’s legal marketplaces and grow its customer base. This is especially true in Indiana, which became one of the leading markets in the United States in 2019 after passing legislation to legalize sports betting. In October, revenue from state-licensed sports betting reached a new all-time high of $ 461.1 million.
This agreement is intended to attract Colts fans who are not already involved in sports betting or who do not have a relationship with Caesars Entertainment, the state’s largest casino operator. To accomplish this, new users of the service will be given a discount on season tickets.
Since the William Hill Sportsbook app was rebranded as the company’s flagship brand in August, Caesars has seen a significant increase in the number of online gamblers from Indiana. According to Indiana Gaming Commission data, the William Hill app generated a total of $7.9 million in revenue during July. From August to October, Caesars reported monthly sales of $16.9 million, $30.7 million, and $40.2 million, respectively.
AGR, on the other hand, did not initially keep pace with the handle, which refers to the total amount wagered, despite the handle expanding dramatically in just three months. The only month this year that has brought in more than one million dollars in June, which brought in three million. In October, the total amount of money earned online was only $435,658.
In-person sports betting at Caesars provides the best potential returns for the customer. Caesars Entertainment Corporation operates the state’s three casinos, three off-track betting houses, and two former Caesars facilities that still host retail sports betting operations. The corporation’s total revenue for October was $63.8 million, with an annualized growth rate of approximately $2.3 million for its online book.
The average gross revenue (AGR) in Indiana is calculated by subtracting the total amount of prizes awarded from the total amount of the handful. This includes both bad debts and “the cash equivalent of any commodity of value assigned as a reward.” The IGC processes futures bets in the month in which they are placed; however, income from futures bets is only recorded in the month in which they are cashed.
Nationally aggressive campaign
Caesars isn’t just interested in expanding its sports betting business to Indiana. Since the rebranding effort began just before the start of the football season, the Las Vegas-based corporation has launched an ambitious marketing campaign that will span the country. In July, the corporation was successful in acquiring the name rights to the Superdome. The Superdome will host the Final Four in April 2019, as well as the Super Bowl in 2024.
Many people have grown tired of watching television commercials as part of the campaign. However, Caesars has attempted to promote the app by forming partnerships not only with sports teams but also with notable athletes and other individuals associated with the sports industry, such as former ESPN host Kenny Mayne.
At the beginning of this month, Caesars Entertainment Corporation announced an ambassadorial partnership with the Manning family. Archie Manning and his children Peyton, Eli, and Cooper will appear in commercials and live events as part of the agreement. Peyton Manning is widely regarded as one of the all-time great quarterbacks in NFL history. He is best remembered for his time with the Indianapolis Colts, with whom he won a Super Bowl in 2006.
The two companies have previously worked together on several projects, the most recent of which was the subscription agreement with the Colts. The Colts announced at the start of this year that Caesars would be the team’s official casino partner. Caesars Entertainment Corporation operates the casinos in the two closest locations to Indiana’s most populous city.