Launching In Indiana Is A ‘No-Brainer’ For 888Sport

888Sport, a fresh online sportsbook, plans to debut in Indiana in 2021. Should it succeed, it will become the 11th online betting app in the state.

The sportsbook is well-established in Europe, but it is still undergoing expansion in the US.

Yaniv Sherman, the head of commercial development at 888, has been focusing on US expansion since the sportsbook’s New Jersey launch in 2018.

Earlier this week, Play Indiana discussed the future of 888 in Indiana with Sherman.

888Sport's multi-state expansion includes Indiana

Indiana isn’t the sole state where 888 has plans for expansion next year. The company is also set to launch in Colorado and Iowa, where it already has new market agreements established.

What prompted the company to select Indiana? Which aspects rendered the state an attractive new market for them?

Sherman expresses that the deep-seated passion for sports is what it’s all about for Hoosiers.

Indiana’s sports culture is exceptionally strong and unparalleled by most states in the scope and intensity of their sports betting culture. Once we began working towards it, the decision to pursue this seemed like a natural choice.

Indiana, after all, is one of the bigger sports betting markets in the U.S. In the single month of October, Hoosiers staked over $230 million on sports bets.

Harrah's Hoosier Park sportsbook

Online sportsbooks in Indiana are mandated to form a partnership with a retail casino.

For example, Ameristar East Chicago collaborates with DraftKings, whereas FanDuel is partnered with Blue Chip Casino in Michigan City, Indiana.

888Sport is aligning with Harrah’s Hoosier Park.

888Sport will be Hoosier Park’s first partner, even though some casinos in the state already have multiple partners.

Having never previously had an online partner, Hoosier Park has been ready to explore the online side of the business for quite a while. The Indiana Grand Casino is in a similar position.

Both “Racinos” are properties of Caesars.

In the process of merging with Eldorado, Caesars is selling off Tropicana Evansville, Caesars Southern Indiana, and Horseshoe Hammond.

However, the company will keep Hoosier Park. This means that both the casino and 888Sport will work together with Caesars in the upcoming years.

At present, the company is the platform provider for Caesars’ online poker product, WSOP.com.

888’s expansion into Indiana is not solely focused on sports, but also significantly involves online casinos. While sports are a major component of the company’s plans for the Hoosier State, they do not comprise the entirety of their focus.

888 wants in on Indiana online casinos

Indiana has yet to establish a legal and regulated online casino market.

However, this might change in the near future.

888 aims to be at the center of the anticipated internet gaming legislative effort in 2021, given everything proceeds as planned.

Sherman suggests that 888 has substantial plans for Indiana, as the company aims to lead the forthcoming online casino market in the state.

“We already have a significant passion for sports, but it’s essential to set up an iGaming platform for profit-making. We especially excel in table games like blackjack and poker. I hope that soon, players in Indiana will have the opportunity to enjoy iGaming. This won’t just offer entertainment, but also contribute significantly to the state’s tax revenue.”

The tax revenue generated by online casinos is a substantial benefit, making them more lucrative than sports betting.

Indiana’s online casino bill, led by Sen. Jon Ford, could potentially generate $45-$60 million in annual tax revenue for the state from iGaming, according to his estimates.

For comparison, since its start in September 2019, sports betting has only generated $12.3 million in tax revenue.

Whether Indiana will introduce online casinos next year or not, having a sportsbook in the state will secure a strong position for 888.

This also gives Hoosiers the chance to familiarize themselves with the company. Given the fierce competition in the online casino industry, 888 will be keen to build as much brand awareness as possible before the launch of internet gaming.