BetMGM Online Sportsbook Launching In Indiana Feb. 25

At last, BetMGM is going online across Indiana.

The Indiana Gaming Commission approved the launch of the sportsbook this morning. This signifies that BetMGM will commence its online operations tomorrow, Feb. 25.

The IGC approved BetMGM, BetIndiana, and PointsBet as new licensees last month.

Thus far, out of the three, BetMGM Indiana is the only one that has managed to penetrate the market.

Belterra Casino is partnering with BetMGM.

BetMGM’s land-based partner is Belterra Casino in Florence, Indiana.

The casino, being close to both Ohio and Kentucky, will surely aim to attract business from these neighboring states.

Progress has come to a standstill in Ohio, with the state’s legislature grappling to streamline its possible route to legalization. While Kentucky appeared to be on the verge of legalization, it is now dealing with its own set of obstacles.

Casinos near state lines, like Belterra, will continue to profit from out-of-state visitors from neighboring areas until those states have established legalized sports betting for themselves.

Belterra is within an hour’s reach for residents of both Louisville and Cincinnati.

However, if bettors do not wish to, they won’t have to visit the casino in person.

It is possible for anyone to cross into Indiana and place their BetMGM bets from their phones. The online traffic from both local Hoosiers and out-of-state bettors will play a significant role in BetMGM’s handle.

Belterra anticipates a boost from online betting.

BetMGM is set to become the fifth online sportsbook in the Hoosier State, following DraftKings, FanDuel, BetRivers, and BetAmerica.

Thus far, Belterra has had difficulty attracting as many bets as its competitors.

In January, the casino managed to accumulate only $930,000 for its handle, marking it as the second-lowest in the state, only ahead of Rising Star Casino with its $300,000 earnings.

The leading entities in Indiana greatly exceeded those figures. Ameristar Casino recorded a handle exceeding $70 million in January, while the runner-up, Blue Chip Casino, surpassed the $50 million threshold.

Admittedly, both of those casinos significantly benefit from their online partners, DraftKings and FanDuel. The majority of the revenue is generated by these online partners.

Belterra is optimistic that BetMGM will provide a comparable boost. However, this might be more challenging than it sounds due to the intense competition.

BetMGM is facing a challenging task in Indiana.

Indiana’s sportsbook market is becoming increasingly saturated, making it progressively challenging for new sportsbooks to establish a stake in the state’s handle.

BetAmerica is the latest sportsbook to launch in Indiana, however, the new entrant has been facing challenges since its inception.

Last month, BetAmerica earned a mere $89,000, marking the lowest revenue among all online sportsbooks in the state.

As BetMGM joined the competition relatively late, it may be jostling with its rivals for a while. Similar to BetAmerica, BetMGM might experience a challenging initiation due to the high level of competition.

However, starting late isn’t the only issue. BetRivers has been underperforming when compared to DraftKings and FanDuel, even though it’s been in operation since the start.

The operator is being hindered by brand recognition and the accessibility of its app, but BetRivers’ case demonstrates that being the first to enter the market isn’t the only important factor.

Similar to BetRivers, BetMGM will also face challenges such as raising brand awareness. However, unlike BetRivers, BetMGM won’t have the benefit of early access.

BetMGM will need to effectively manage numerous post-launch elements if it intends to set itself apart from its competitors.