Caesars Sportsbook is offering new customers a risk-free initial bet of up to $5,000 as a way to increase the market's share. The parent company Caesars Entertainment completed its $4 billion acquisition of William Hill earlier this year. It is now transitioning the majority of William Hill customers over to a Caesars Sportsbook application and is now ready to launch an ambitious expansion plan.
The new Caesars Sportsbook app is basically a rebranded copy of the William Hill app, with minor changes to the color scheme. The app now includes a variety of additional sports however the most significant modification is in the form of bonuses. The offer of a risk-free bet worth $5,000 is five times more 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 existing customers, including free bets, profit boosts and odds increases as well as risk-free parlays. Friday Doubles on Thursdays as well as Thursday Dingers.
Customers can now take part in the Caesars Rewards loyalty programme too. The program allows them to earn points for placing bets, and these points can be exchanged for free bets, hotel visits eating out shopping, spa treatments and more. "We are very excited to unveil our new extensive promotional campaign in support of Caesars Sportsbook," said the chief of staff Tom Reeg. "The new and improved features of our Caesars Sportsbook will offer custom-designed services, with adjustable limits, a vast range of betting lines, and an intuitive user experience. Caesars Sportsbook will also bring players into a world of games where, whether you winning or losing, every wager gives them more through our highly acclaimed Caesars Rewards."
Putting the Bettor at the Center of Everything
The Caesars Sportsbook app is in operation across eight states: Colorado, Indiana, Iowa, Michigan, New Jersey, Tennessee, Virginia and West Virginia. It is set to launch the app in Arizona, Maryland and Louisiana soon, as those states are preparing to roll out legal sports betting businesses. The state of Arizona, Caesars has a market access agreement with the Arizona Diamondbacks, and it is constructing a retail sportsbook at Chase Field, the MLB team's home. The three markets of Illinois, Nevada, and Washington, DC, markets where gamblers must be in or near a Caesars Sportsbook retail store in order to register, players can now access the latest Caesars Sportsbook from William Hill application. This Caesars Sportsbook by William Hill app offers an upgraded look and link to Caesars Rewards.
William Hill owned a large collection of sportsbooks that retail in Nevada and businesses in Mississippi as well as New Mexico, along with retail books in lots of other states. The company also served as the risk manager for sports betting in Delaware as well as Rhode Island. Caesars has since taken over all of these companies. It is phasing out all William Hill brand online, in the hopes of selling all assets that are not US-based and may also keep it's William Hill name on some of its online sportsbooks.
"Caesars Sportsbook puts the bet at the heart of everything," said Eric Hession, Co-President of Caesars Digital. "We recognize that we have to be flexible and we must give gamblers what they want in terms of the depth of odds as well as the range of sports, and we must make our application easy and fun to navigate. However, beyond that, we'd like to make each Caesars Sportsbook player like a Caesar. And that means generous offers and the opportunity to earn through Caesars Rewards."
Nationwide Advertising Campaign
Caesars is investing in a nationwide advertising campaign that features actor-comedian JB Smoove in the role of Caesar and Patton Olswalt as one the most ardent fans of the brand. Caesars is the official casino sponsor and a official betting partner for the NFL. It also has partnerships with MLB, NHL, the NBA, NHL, MLB, and several individual teams. Caesars recently announced an expanded collaboration with The New Orleans Saints, resulting in the stadium of the team changing its name to the Caesars Superdome. Caesars Sportsbook will continue to collaborate with celebrities and respected voices within the sports industry as well as other partnerships and content champions to be announced in the near future.
"Sports bettors deserve a betting experience that is treated like royals," said Chris Holdren the co-president and CEO of Caesars Digital. "In our time, everyone's an emperor. The Caesars Sportsbook app delivers an experience worthy of them. We invite people to join us online, join us at our resorts , and take part in their favourite sports in exciting ways through our unparalleled partnerships."
Caesars had previously launched the sports book of its own in New Jersey, Pennsylvania, Indiana and Nevada However, it has struggled to keep up with competitors like FanDuel, DraftKings and BetMGM. There is no news yet on what will happen to the Pennsylvania heritage brand, since it was the only state in which William Hill did not operate due to the high cost of licensing and tax on revenue. The brand now has a better chance of becoming major player in the legal sports betting industry, having absorbed William Hill's customer base as well as its staff and technology. William Hill was already the market leader for Nevada and Iowa as well as one of the top five sportsbooks in several other states. The issue for Caesars is now to create progress into states with large populations like New Jersey and Illinois.
Caesars Reports Huge Revenue Growth for Q2
Caesars Entertainment has revealed that revenues grew by $2.5 billion for the three months ending June 30. This is a huge increase on the $127 million it took in Q2 2020. The company reported net earnings of $71 million, which is compared to the loss of $100 million during the same period the previous year. Adjusted EBITDA hit a record. Caesars Digital, the sports betting and online gaming segment reported net revenues of $117 million and an adjusted EBITDA of $2 million, but that is likely to rise in the coming months ahead.
The company's shares have risen by over 8% in the past week and have grown by 10 times since the start in the outbreak. "Our second quarter operating results improved significantly versus that of the beginning quarter in 2021 fueled by our continued strength in the regional markets we operate in and an impressive improvement in performance in the Las Vegas segment," Reeg said. Reeg. "With this William Hill acquisition now closed and we have officially changed the name of our sports betting operations under Caesars and we began our new complete marketing campaign on August 2nd, 2021."