Earlier this week, a first-of-its-kind partnership was unveiled when Caesars Sports and the Indianapolis Colts revealed a deal offering fans a $500 rebate for season tickets to next year’s Colts games in exchange for opening an account with the sports wagering operator.
Colts fans must first buy or renew season tickets for the 2022 season, with new season ticket-holding agreeing to purchase at least two tickets per game to qualify for the rebate. From there, they will require to download the Caesars Sportsbook application on their smartphones, open an account, make a deposit, and place a $50 bet.
In return, those new Caesars users would receive the $500 as a rebate. Specific terms and conditions apply. More information is available at the Colts website.
On Thursday, a check of the Colts tickets page showed one season ticket available for $470. Many more are available, starting at $530 per ticket. In addition, there is a $10 service charge for the purchase.
“Sports bettors promos and offers that treat them like royalty,”
Chris Holden, Caesars Digital co-president, said in a statement.
“Our partnership with the Colts enables us to deliver on that promise and continue to reward loyal Colts fans.”
Although existing Caesars Sportsbook clients cannot qualify for the rebate, the Colts and Caesars are giving a $100 free bet on the January 2 Colt game against the Las Vegas Raiders for any current client who renews or buy their season ticket package.
Caesars acquiring market share in Indiana
The season ticket offer comes as sportsbooks seek to expand their influence into current legal markets and grow their client base. That is particularly true in Indiana, which legalized gambling in 2019 and has emerged as one of the best markets in the country.
In October, the state’s licensed sportsbook registered a handle of $461.1 million, the highest amount ever.
By giving a rebate on season tickets to new users, the deal is created to attract Colts fans who might not already be into sports wagering or have a relationship with Caesars Entertainment, the largest casino operator in Indiana.
Since rebranding the William Hill Sportsbook application under the company’s showcase brand in August, Caesars has experienced considerable growth in traffic from Indiana online wagers.
According to the Indiana Gaming Commission statistics, in July, the William Hill application registered a handle of $7.9 million. From August to October, Caesars has recorded monthly handles of $16.9 million, $30.7 million, and $40.2 million, respectively.
However, while the handle has surged exponentially in just three months, adjusted gross receipts (AGR) have not initially balanced. Apart from a $3 million month in June, no other month has surpassed $1 million in revenue this year. In October, online revenues were just $435,658.
Aggressive national campaign
Caesars is not just focusing on Indiana for its sportsbook growth. Since the rebranding campaign started just before football season, the Las Vegas-based firm has nationally embarked on a determined marketing campaign. In July, the firm acquired naming rights to the Superdome, which will host the Final Four next April and the Super Bowl in 2024.
In addition, the campaign involves television commercials that some have criticized. Nevertheless, Caesars has also looked to partner with sports teams, famous athletes, and others linked to the sporting world, including former ESPN anchor Kenny Mayne to promote the sports wagering app.
In commercial and live events, Caesars announced an ambassador deal earlier this month with the Manning family, including Archie Manning and his sons Eli, Copper, and Peyton. Peyton is a heroic NFL quarterback who spent most of his career with the Colts and led them to a Super Bowl victory in the 2006 season.
The season ticket deal with the Colts is the latest business between the two firms. Earlier this year, the Colts unveiled Caesars would be the team’s official casino partner. Caesars runs the two closest casinos to Indiana’s biggest city.
Last Updated on by Ryan