Bet365 Launches Mobile Sports Betting Operations In Indiana
Bet365 announced Tuesday that it had entered the Indiana sports betting space, the eighth state where the England-based operator is accepting wagers.
“At bet365, we don’t do ordinary, and as the home of the country’s first professional baseball game, ‘The Greatest Spectacle in Racing’ and a rich basketball history, neither does Indiana,” said a bet365 spokesperson. “New and eligible sports fans in the Hoosier State, renowned for their passion and loyalty, can enjoy the bet365 experience featuring market leading offerings like amazing Bet Boosts, the fastest In-Game product and unique Same Game Parlays.”
It is the first true launch of a betting app in Indiana since Hard Rock Bet launched in September 2022 following the opening of the Hard Rock Northern Indiana casino in May of that year. ESPN BET launched in mid-November as part of PENN Entertainment’s rebranding from Barstool Sportsbook.
Bet365 Indiana is tethered to French Lick Resort and will be the casino’s second skin with BetRivers. Indiana sports bettors wagered more than $4.3 billion in 2023, with nearly 95% of that handle originating from digital wagers. Bet365 will be one of 14 mobile betting apps available to Hoosier State bettors.
Introductory offers
Bet365 is offering new customers two choices for introductory offers.
The first option is to have a first bet safety net of $2,000 in bonus bets. Bettors who sign up and make a minimum $10 deposit can place a qualifying bet of up to $2,000 and become eligible for a matched refund in Bonus Bets if the qualifying wager loses. The offer applies to the first straight wager, parlay, same-game parlay, or Same Game Parlay+ after the offer is claimed and must be made with cash — not Bonus Bets.
The second option for new bettors who sign up with a $10 deposit is to receive $150 in Bonus Bets with a $5 wager. The qualifying bet must settle within 30 days in order to release the Bonus Bets. Additionally, one bet must have odds of -500 or greater and only the largest cumulative wager on an individual selection within a market will count toward the settled bets requirement.
Will bet365 continue aggressive spend?
One thing that has stood out about bet365 in launching across the United States has been its aggressive courtship of new bettors, regardless of its ability to deduct promotional credits and bonuses against gross revenue.
In states that provide such information, bet365 has made notable outlays to acquire business.
In Ohio, where there was a simultaneous launch to ring in 2023, bet365 has furnished bettors with close to $74 million worth of credits for the calendar year — trailing only FanDuel and DraftKings — and reached a high point of $16.9 million in March after an initial $16 million spend in January. In Kentucky, $16.5 million of its $21.4 million outlay came in the first full month of betting in October, and bet365 has accounted for more than 20% of the overall $99.8 million the seven mobile operators have spent drumming up business.
The Indiana Gaming Commission does not provide promotional spend by mobile operator, but ESPN BET’s first full month of action in December in Indiana resulted in $33 million handle that was 6.8% of the mobile market share. That was nearly a five-fold increase from Barstool Sportsbook’s final full month of $7.7 million worth of wagers in October, and it put ESPN BET within $600,000 of BetMGM for third among mobile operators while finishing in the top five.
