Tipico now has access to the online sports betting markets in Iowa and Indiana after entering a deal with Caesars. [Image: Shutterstock.com]
A ten-year deal
Tipico has gained market access to the online sports betting markets in Indiana and Iowa after striking a deal with Caesars Entertainment. The global betting giant also plans to expand its presence into other states in the future. Its sports betting offering in Indiana operates through the Harrah’s Hoosier Park Racing & Casino master license. Its online sportsbook in Iowa will be through the Isle Casino Hotel Bettendorf license.
The deal with Caesars will be in place for ten years, with the option to renew it for another decade.
The deal with Caesars will be in place for ten years, with the option to renew it for another decade. Tipico is hoping to have its Iowa online sportsbook up and running in the final quarter of this year; the launch in Indiana is penciled in for the first quarter of next year. Both of these launches are pending the relevant regulatory approvals.
Further deals on the horizon
If online casino gaming becomes legal in these two states in the future, Tipico might also have market access through this Caesars partnership. Indiana lawmakers introduced a proposal in January that seeks to legalize online casinos, but it remains in the committee stage.
Tipico US chief executive Adrian Vella welcomed this deal with Caesars, saying: “We look forward to establishing our brand presence in the midwest, and introducing our highly scalable, proprietary multi-state sports betting experience to players in Indiana and Iowa.”
Tipico vice president of business development and strategy Stephen Krombolz spoke about how market access deals in other states are on their way, with Tipico ready to announce new ones before the end of 2021.
Growing its presence in the US market
Tipico currently has online sportsbooks live in Colorado and New Jersey. It also has plans to build a sports betting technology hub in Denver, which could generate as many as 441 jobs over the coming eight years. A Tipico online casino will soon be live in New Jersey, with NetEnt being one of the casino games studios that will contribute titles to the offering.
Tipico already has an extensive presence in the global betting market, including reigning as a market leader in Germany.
One of its notable deals in the US is with the USA Today publisher Gannett. This five-year agreement sees odds from Tipico sportsbooks displayed on sites across the USA Today network. BetMGM had previously partnered with USA Today.