Caesars Sportsbook has made some big moves over the past couple of years in the legal online sports betting industry. Caesars isn’t satisfied with simply offering sports betting though as it is also getting into horse race betting.
Through a partnership with NYRA Bets LLC, Caesars Sportsbook has launched its racebook in Oregon and Montana. These are now the fourth and fifth states in the U.S. that have this racebook, and more markets are planned for the future.
This has been a pretty aggressive expansion from Caesars as this partnership with NYRA Bets only began earlier this year. Florida, Indiana, and Ohio are the other three states that already have a Caesars Racebook available, and this list could double by the end of 2022.
Getting Around the App
The Caesars Racebook can be accessed online, but there is also a mobile app that can be downloaded on an Android or iPhone device. Just like with the sportsbook option, Caesars has a substantial welcome offer for all new customers that download the app.
All new customers are eligible to receive a 100% first deposit bonus of up to $500 when signing up before even placing a wager. It’s unclear how long this offer will last in Oregon and Montana and users are encouraged to sign up quickly to take advantage of the offer.
Caesars Racebook will offer pari-mutuel wagering from over 250 race tracks, including all of the most popular race tracks in the United States. These events take place throughout the year, and there will be a number of different wagering options for each event.
Competition in Horse Race Betting
Horse race betting doesn’t get as much attention as legal online sports betting, but it’s actually been around much longer. Betting at horse racing tracks is obviously still popular throughout the United States, but this action can also now be done online as well.
TwinSpires and BetAmerica are two of the biggest competitors in this industry, and that is who Caesars Racebook will be looking to compete with. These two companies are now available in nearly every state in the U.S. and it will take Caesars some time before that is the case.
When it comes to horse race betting, bettors can not only wager on U.S. events, but there are also simulcasts available for events taking place throughout the world. Most states allow this type of action as it was grandfathered in before any laws preventing online gambling were put into place.
Small Sports Betting Markets
Betting online is not new to residents of Montana and Oregon as both states already offer online sports betting. This industry has become massive throughout the country, but these two states are not keeping up with some of the other competition.
Montana launched online sports betting back in 2020 through Intralot, and it has seen very small numbers since that time. States that don’t have competition with online sportsbooks struggle to bring in a ton of handle or revenue, and the population of Montana doesn’t help either.
Oregon got off to a rough start in the sports betting industry as the Scoreboard app was not bringing in many customers. That has changed a bit since DraftKings has since taken over as the online sports betting operator in the state.
