German-based sports betting provider giant Tipico is looking to take advantage of the ever-growing US legal sports betting scene and this week took a major step toward gaining a reasonable market share. On Monday, Tipico announced a 10-year partnership with Caesars Entertainment for access into two Heavyweight US states, after which it could be renewed for another 10 years.
Tipico has been a big player in the global sports betting scene but has been a middling brand so far in the US market. Hopes are that a tie-up with Caesars, which is currently dominating the headlines in the US industry will aid in their goal of becoming a more prominent figure in the broad US scene. Through the deal, Tipico gains access to Indiana and Iowa’s mobile betting markets, with the hope of expanding beyond that in the future.
“We are excited to announce Tipico’s multi-state market access partnership with Caesars Entertainment, which marks an important step as we continue to expand our US footprint,” Adrian Vella, chief executive of Tipico US, said. “We look forward to establishing our brand presence in the Midwest, and introducing our highly scalable, proprietary multi-state sports betting experience to players in Indiana and Iowa.”
“Captivating users and elevating their betting experience is at the core of Tipico’s development and growth plan, and we’re proud of the capabilities that our app and our proprietary technology stack offer,” Vella said.
What It All Means
Tipico will gain immediate market access into two of the more reliable sports betting states in the nation, Indiana and Iowa thanks to licenses currently being held by the juggernaut Caesars brand. It gets the German-based brand more valuable exposure and into two more states as it attempts to grow its presence in the US market. Tipico will operate sports betting in Indiana under a license held by Harrah’s Hoosier Park Racing & Casino, while in Iowa it will operate on Isle Casino Hotel Bettendorf’s license.
“This new market access agreement with Caesars Entertainment is another exciting step forward for Tipico as we continue to connect with more US bettors,” Tipico’s vice president of business development and strategy Stephen Krombolz, added. “Indiana and Iowa are key states in our early expansion plans but there is certainly more to come, and we look forward to announcing additional partnerships later this year.”
Tipico’s Subtle Moves
Tipico hasn’t exactly dominated headlines in the US legal sports betting scene, but they have quietly been active in trying to expand their brand. This summer, Tipico became exclusive sports betting and iGaming provider with publisher Gannett, which gives them valuable exposure through Gannett’s USA Today Network and its USA Today Sports Media Group.
Tipico is also an active member of two top-tier markets within the US legal sports betting universe. Currently, Colorado and New Jersey host Tipico sportsbooks. A relationship with Caesars and a presence in some of the biggest markets in the country will surely give the provider a leg up on other markets it hopes to gain access to in the near future.
We Know the What, but What About the When
Tipico hopes to be live in Iowa in Q4 2021 and in Indiana in Q1 2022. As always, launches are pending regulatory approvals. The sportsbook debuted its product in Colorado on Thursday, just in time for the kickoff of the bread-and-butter NFL season.
Online casinos New Jersey, Colorado, Iowa, and Indiana could be on the table as well, as long as those jurisdictions welcome in the expansion of their wagering offerings. Tipico is lining up to become a recognizable name within the US market, but they will have some work to do in order to catch the dominant providers already present in the markets they are about to penetrate. A relationship with Caesars is a good start for the company as Tipico attempts to navigate an already competitive US market.