Caesars Sportsbook is offering new customers a risk-free first bet up to $5,000, in an effort to boost its market share. Parent company Caesars Entertainment completed its $4 billion acquisition from William Hill earlier this year. It is now transitioning all William Hill customers over to the Caesars Sportsbook app and is now able to launch an ambitious expansion plan.
The new Caesars Sportsbook application is basically a rebranded version from the William Hill app, with a slight change to the color scheme. The app now includes a variety of additional sports and the most noticeable change comes with bonuses. The offer of a risk-free bet worth $5,000 is five times larger than other offers in the market, surpassing the risk-free bet of $1000 that is offered by FanDuel. Caesars Sportsbook has also launched a range of promos for its existing customers, which include free bets, profit boosts, odds boosts and risk-free parlays. They also offer Friday Doubles on Thursdays and Thursdays.
Customers can now take part of the Caesars Rewards rewards programme too. The program allows them to earn points when placing bets, and these points can be redeemed for free bets, hotel stays, dining, shopping, spa treatments and much more. "We are excited to launch our latest complete advertising campaign to promote Caesars Sportsbook," said chief of staff Tom Reeg. "The updated and rebranded offerings for our Caesars Sportsbook will feature custom-designed offers, flexible limits, a wide selection of betting lines and a user-friendly experience. Caesars Sportsbook is also able to bring players into an empire of betting where, winning or losing, every bet is worth more thanks to our highly acclaimed Caesars Rewards program."
Putting the Bettor at the Center of Everything
The Caesars Sportsbook app is currently live across eight states, Colorado, Indiana, Iowa, Michigan, New Jersey, Tennessee, Virginia and West Virginia. It plans to launch the app in Arizona, Maryland and Louisiana soon, as those states are preparing to roll out legal sports betting markets. The state of Arizona, Caesars has a market access agreement with the Arizona Diamondbacks as well as is building a sportsbook retail store at Chase Field, the MLB team's home. The three markets of Illinois, Nevada, and Washington, DC, markets where bettors are required to be near or at a Caesars Sportsbook retail store to sign up, customers can now access the latest Caesars Sportsbook from William Hill application. It is a Caesars Sportsbook by William Hill app has a new look and link to Caesars Rewards.
William Hill owned a large collection of sportsbooks for sale in Nevada as well as businesses in Mississippi and New Mexico, along with retail books in lots of other states. It also served as the managing the risk for betting on sports across Delaware and Rhode Island. Caesars has since taken over all of these companies. It is currently phasing out the William Hill brand online, in the hopes of selling all non-US assets however, it could retain the William Hill name on some of its online sportsbooks.
"Caesars Sportsbook puts the bettor in the middle all things," said Eric Hession, Co-President of Caesars Digital. "We recognize that we have to be agile, we need to give bettors what they want in terms of depth of odds as well as the range of sports, and we have to make our apps easy and fun to navigate. Beyond this, we'd like to give each Caesars Sportsbook player like a Caesar. And that means generous offers as well as a chance to earn Caesars Rewards."
Nationwide Advertising Campaign
Caesars is investing in a national advertising campaign that features actor-comedian JB Smoove as Caesar and Patton Olswalt as one the biggest brand fans. Caesars is the official casino sponsor and a official sports betting partner of the NFL. It also has agreements to teams like the NBA, NHL, MLB as well as a number of individual teams. Caesars just announced an expanded partnership with the New Orleans Saints, resulting in the stadium's changing its name to"the Caesars Superdome. Caesars Sportsbook will continue to work with celebrity ambassadors as well as trusted voices in the sports industry with additional partnerships and content champions to be announced shortly.
"Sports bettors deserve a sports betting experience that treats them like royals," said Chris Holdren, the co-president and CEO of Caesars Digital. "In our society, everyone is an emperor and the Caesars Sportsbook app delivers an experience worthy of the title. We invite people to play with us on the internet, or join us in our resorts and take part in their sports of choice in fresh ways through our unparalleled partnership with our partners."
Caesars had previously launched their own online sportsbook, which is available across New Jersey, Pennsylvania, Indiana and Nevada However, it has struggled to keep up with competitors like FanDuel, DraftKings and BetMGM. There's no word yet about what happens to the Pennsylvania legacy brand, given it was the only state in which William Hill did not operate, citing high licensing fees and tax on revenue. The brand now has a better chance of becoming a major player in the legal world of sports betting by absorbing William Hill's client base as well as its staff and technology. William Hill was already the market leading player in Nevada and Iowa as well as a top five sportsbook in other states. The challenge for Caesars is to now make inroads into large states like New Jersey and Illinois.
Caesars Reports Huge Revenue Growth for Q2
Caesars Entertainment has revealed that revenues grew by $2.5 billion during the three months that ended June 30. This is a huge increase on the $127 million it earned in Q2 2020. It reported net income of $71 million, compared to the profit of just $100m for the same period the previous year. Adjusted EBITDA reached a record high. Caesars Digital, the sports betting and online gaming segment, reported net revenue of $117 million and adjusted EBITDA of $2 million but that is likely to rise in the coming months ahead.
The company's shares have risen by more than 8% this week, and they have grown by 10 times since the beginning in the outbreak. "Our second quarter results were significantly better than that of the beginning quarter in 2021, driven by our continued strength in our regional markets and significant improvement in the performance in the Las Vegas segment," stated Reeg. "With William Hill's acquisition William Hill acquisition now closed and we have officially changed the name of our sports betting operations to Caesars and launched our brand new, extensive marketing campaign on August 2nd 2021."