Mobile sports betting is coming to Kentucky, and Caesars Entertainment announced that its flagship sports wagering app, Caesars Sportsbook, is now available for download and registration. Sports fans who want to prepare for the launch of mobile sports wagering can download the Caesars Sportsbook app on iOS and Android or visit caesars.com/sportsbook on desktop to register and take advantage of a special early deposit offer when depositing between September 7 and 27.

“Launching Caesars Sportsbook for pre-registration in Kentucky is an exciting step as we prepare to bring customers in the Commonwealth a sports wagering experience that treats them like royalty this fall. Whether in-person at our conveniently located sportsbook at Red Mile Gaming & Racing in Lexington that will take its first bets on September 7, or on mobile devices anywhere in the state from Pikeville to Paducah, Caesars Sportsbook will allow fans to engage with their favorite sports and teams through an array of wagering options,” Eric Hession, President of Caesars Digital, said.

The Caesars Sportsbook app offers an unmatched sports wagering experience where customers can enjoy a variety of deposit options, quick payouts, and user-friendly features that make betting easy and fun. In addition, Caesars Sportsbook features lightning-fast scoreboards, livestreaming of marquee sporting events, and expanded in-play betting options, including live same-game parlays, and next-play and player prop markets.

New customers in Kentucky are eligible for a special offer when they register and deposit early, including registering using promo code CZRKY, depositing $20 or more between September 7 and 27, and receiving $100 in Bonus Bets (one $25 bet on the day mobile wagering goes live and three subsequent $25 Bonus Bets every week thereafter).

In addition to the Caesars Sportsbook app, Caesars previously announced plans for a retail sportsbook at Red Mile Gaming & Racing in Lexington, which is set to open and accept its first sports bets on Thursday, September 7. The Company’s partnerships with both Red Mile and Keeneland further reinforce Caesars’ commitment to horse racing and the continuous expansion of the Caesars Racebook app, which is live in 17 states, including Kentucky.

When sports betting launches in the Bluegrass State, Kentucky sports fans can enjoy mobile sports betting tied to unmatched rewards via the industry-leading customer loyalty program, Caesars Rewards. Every wager placed in-person or via the Caesars Sportsbook mobile app earns Tier Credits that contribute to status and Reward Credits that can result in extraordinary Caesars Rewards experiences, discounted getaways at various Caesars destinations across the US, bonus cash in the Caesars Sportsbook app, and world-class culinary experiences.

Caesars Entertainment has reported operating results for the second quarter ended June 30, 2023.

Second Quarter 2023 and Recent Highlights:

• GAAP net revenues of $2.9 billion versus $2.8 billion for the comparable prior-year period.
• GAAP net income of $920 million compared to net loss of $123 million for the comparable prior-year period, with the increase primarily driven by a release of $940 million of valuation allowance against deferred tax assets associated with REIT leases.
• Same-store Adjusted EBITDA of $1.0 billion versus $978 million for the comparable prior-year period.
  • Same-store Adjusted EBITDA, excluding Caesars Digital segment, of $996 million versus $1.0 billion for the comparable prior-year period.
  • Caesars Digital same-store Adjusted EBITDA of $11 million versus $(69) million for the comparable prior-year period.

Tom Reeg, CEO of Caesars Entertainment, said: “The second quarter of 2023 reflected continued strength in our business. Demand remains strong in both Las Vegas and our regional markets. Caesars Digital posted its first quarter of positive adjusted EBITDA since our rebranding to Caesars Sportsbook in the third quarter of 2021. Our capital investments are generating stronger than expected returns based on recent new property openings.”

Bret Yunker, Chief Financial Officer of Caesars Entertainment, said: “On July 17th we permanently repaid the $250.0 million Baltimore Term Loan, priced at SOFR plus 4.0%, due July 2024, following our acquisition of the remaining 24% equity ownership in the property. Total net leverage under our bank credit facility was 4.2x as of June 30, 2023, and we expect to continue reducing debt and leverage in the second half of 2023.”

The global sports betting market size is expected to reach $182.12 billion by 2030 and exhibit a CAGR of 10.3% in the forecast period (2023-2030), according to SkyQuest’s latest research report. The growing popularity and acceptance of sports betting, increasing legalization and regulatory reforms, technological advancements and mobile betting platforms, wide accessibility and convenience of online betting, rising sports fan engagement and spectatorship, the introduction of live and in-play betting options, expansion of sports betting markets and options, integration of artificial intelligence and data analytics, partnerships with sports leagues and teams is fuelling the market’s growth.

According to SkyQuest’s latest global research of the sports betting market, the shift towards online and mobile betting platforms, growth of in-play and live betting options, rise of eSports betting, integration of social media and user engagement, expansion into new and emerging markets, emphasis on responsible gambling and player protection measures, use of data analytics and artificial intelligence in betting strategies, increasing adoption of cryptocurrency and blockchain technology, the emergence of virtual sports and fantasy betting are the trends that aid in the market’s growth.

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Browse in-depth TOC on Sports Betting Market:

* Pages – 157
* Tables – 64
* Figures -75

Sports betting is the activity of predicting the outcome of a sporting event and placing a wager on that outcome. The wager can be made with a bookmaker, a person or organization accepting bets on sporting events or with another individual. The bettor can win or lose money depending on the event’s outcome.

Prominent Players in Sports Betting Market:

* DraftKings
* FanDuel
* BetMGM
* Caesars
* PointsBet
* BetRivers
* WynnBET
* TwinSpires
* Unibet
* 888Sport
* Pinnacle
* Betway
* Barstool Sportsbook
* Fox Bet
* Score Bet
* SugarHouse
* TheScore Bet
* RushStreet Interactive
* Golden Nugget
* Betfred

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Report Scope & Segmentation:

Odds Betting Demand to Grow Substantially in the Forecast Period:

Odds betting dominated the global online market due to its wide popularity and familiarity. It covers a wide range of sports including popular ones like football, basketball, tennis and horse racing. Bookmakers offer a comprehensive selection of events, matches and tournaments, ensuring a diverse and extensive market coverage for fixed odds betting.

Football (Soccer) is the Leading Application Segment:

In terms of application, football (soccer) is the leading segment due to its wide popularity. In addition, it has a high frequency of matches throughout the year including domestic leagues, international tournaments and continental championships. This provides ample opportunities for sports bettors to engage and place bets regularly.

North America is the leading Market Due to the Large Consumer Base:

Region-wise, North America is one of the largest growing markets with a huge consumer base. The region, particularly the United States, is often seen as a dominant market due to its large population, high levels of consumer spending and advanced technology and innovation. Many multinational companies are headquartered in the United States, which gives the region a significant advantage in terms of market dominance.

A recent report thoroughly analyzes the major players operating within the sports betting market. This comprehensive evaluation has considered several crucial factors such as collaborations, mergers, innovative business policies and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for sports betting.

Key Developments in Sports Betting Market:

In March of 2023, Caesars Entertainment announced that it would acquire William Hill, a British bookmaker, for $3.7 billion. The acquisition is expected to help Caesars expand its sports betting offerings in the United States.

In April of 2023, Penn National Gaming announced that it would acquire Barstool Sports, a digital media company, for $1.6 billion. The acquisition is expected to help Penn National Gaming expand its sports betting offerings and reach new customers.

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Key Questions Answered in Sports Betting Market Report

* What specific growth drivers will impact the market during the forecast period?
* Can you list the top companies in the market and explain how they have achieved their positions of influence?
* In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?

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