Get ready because BetMGM is ready to get the ball rolling in Indiana on Feb. 25.
Roar Digital, which is a joint venture between MGM Resorts International and GVC Holdings, offers not only an online sports betting app through BetMGM but also livestreaming of sporting events in-app.
Last month, the Indiana Gaming Commission (IGC) conditionally approved BetMGM, BetIndiana, and PointsBet for Indiana sports betting licenses. Accordingly, the IGC officially signed off on only BetMGM’s launch this morning, clearing the way for its imminent launch.
BetMGM partners with Belterra Casino
According to the regulations set forth by the IGC, all Indiana online sportsbooks are required to have a land-based partner. In this case, BetMGM’s partner is Belterra Casino located in Florence, Indiana.
Belterra is conveniently located in close proximity to both Ohio and Kentucky. Louisville and Cincinnati are both less than an hour away. Obviously, the location is pivotal to draw in customers from these other states.
What’s more, Ohio and Kentucky have not legalized sports betting. This means Indiana casinos near the state line, such as Belterra, profit from visitors from these other states.
With the launch of BetMGM and other online sportsbooks in the Hoosier State, interested sports bettors do not even have to be physically located in the casino. Rather, they can simply cross state lines to place wagers on their mobile devices.
BetMGM’s expected impact on Indiana’s sportsbook market
The launch of BetMGM makes it the fifth online sportsbook in Indiana. It joins DraftKings, FanDuel, BetRivers, and BetAmerica. The Indiana market is becoming even more saturated with various competitors looking to capture the lion’s share of the marketplace.
For example, before BetMGM’s launch, BetAmerica is the newest online sportsbook to launch. However, the numbers reported by BetAmerica are sluggish at best. In January, the newcomer reported a discouraging $89,000 which is the smallest amount reported by all the online sportsbooks in the Hoosier State.
Also, BetMGM’s partner Belterra also struggles against its competitors. In January, the casino took in $930,000, putting it in second-to-the-last place in front of Rising Star Casino with $300,000. Compared to Ameristar Casino’s $70 million and Blue Chip Casino’s $50 million, Belterra’s numbers are a paltry sum.
It could be said that this is because of BetMGM’s late start in the state. Unfortunately, this is not just about a later launch. For instance, BetRivers was one of the first online sportsbooks to launch in Indiana. Nonetheless, it struggles compared to the heavy hitters DraftKings and FanDuel.
Brand recognition is a huge factor in obtaining and keeping customers. Therefore, BetMGM needs to build brand awareness and differentiation to really compete in the Hoosier State.