BlueBet Withdraws from Indiana Market

Refocusing Efforts on Other States

The company, which had initially entered the Indiana wagering sector through a partnership with Caesar Entertainment’s Horseshoe Hammond property, terminated the agreement effective June 30. Both parties mutually agreed to this termination, marking the end of BlueBet’s operations in the state.

With its exit from Indiana, BlueBet is redirecting its focus towards other US jurisdictions where it already has a significant presence, such as Colorado, Iowa, and Louisiana.

These states are noted for their rapidly growing wagering markets, which BlueBet aims to capitalize on. The company’s strategy involves targeting promising markets while steering clear of highly competitive states like Pennsylvania and New York.

Challenges in the Competitive US Market

The US market presents considerable challenges for smaller operators like BlueBet, particularly due to the dominance of major players such as DraftKings and FanDuel. Often referred to as a “duopoly,” these two giants have made it difficult for smaller companies to establish a foothold. In light of these challenges, BlueBet has initiated a strategic review of its US operations to assess potential opportunities and refine its approach.

Despite the setbacks in the consumer-facing segment, BlueBet plans to continue its B2B Sportsbook-as-a-Solution business without any changes. This segment of their operations remains a key component of their strategy in the US market.

BlueBet is not alone in facing difficulties within the US market. Other Australian operators, such as PointsBet, have also struggled. PointsBet notably sold its US assets to Fanatics, exiting the American market altogether. This transaction provided Fanatics with access to established operations and entry into new markets, including New York.