Indy 500 Signs Caesars Sportsbook as Its Official Sports Betting Partner

Posted on: May 15, 2022, 08:24h. 

Last updated on: May 16, 2022, 12:28h.

Steve Bittenbender Read More
Expertise: Legislation, Sports Betting, Horse Racing.

The Indianapolis 500 is two weeks away, and on Saturday, owners of the famed Brickyard announced a partnership with Caesars Entertainment for this year’s race.

Indy 500
Cars race out of the fourth turn at the Indianapolis Motor Speedway during last year’s Indianapolis 500. This year, the speedway announced a partnership with Caesars Entertainment to make the Caesars Sportsbook the Official Sports Betting Partner for the track and the May 29 race. (Image: Doug Mathews/Indianapolis Motor Speedway)

Caesars Sportsbook will serve as the Official Sports Betting Partner for the race and the Indianapolis Motor Speedway (IMS). The agreement also allows the Las Vegas-based sports betting operator and division of America’s biggest casino company to sponsor remaining IMS races. That included Saturday’s GMR Grand Prix.

The partnership allows Caesars to use the speedway’s logos and branding assets. IMS will also provide Caesars with video board placements, public address announcements, and advertising space in race programs.

“Partnering with one of racing’s most iconic venues and ‘The Greatest Spectacle in Racing’ provides our customers with unique experiences through Caesars Rewards,” Caesars Digital Co-President Eric Hession said in a statement. “This will be an impactful partnership for us that builds upon our commitment to the state of Indiana, alongside the investments into our resorts and the communities they serve.”

IMS to host Caesars Sports Betting Lounge

Another perk of the partnership for Caesars is the first sports betting lounge at the racetrack.

The Caesars Sportsbook Lounge will be located on the Pagoda Plaza. It will be open during practice and race days at the track and give Caesars app users an elevated view of the 2.5-mile oval course. Caesars will also be able to giveaway special “VIP experiences” to users through its Caesars Rewards loyalty program.

First-time users will be able to gain access to the lounge if they download the app and make a $20 deposit. Besides access to the lounge, those new account-holders will also receive $106 in free bets – a special in honor of the 106th running of the race on May 29.

We’re extremely excited about this partnership with Caesars and believe their on-site presence – which is a first for our storied facility – will give fans a new opportunity to engage with the on-track action at the Racing Capital of the World,” said Indianapolis Motor Speedway President J. Douglas Boles in a statement.

The IMS partnership is just the latest agreement Caesars has established in Indiana. Last year, the sports betting operator became a partner with the Indianapolis Colts. As part of the arrangement, Caesars offers its users a $500 rebate toward the purchase of season tickets for the 2022 season.

Caesars Plays a Big Role in Indiana Gaming

Caesars is the top gaming company in Indiana, according to information from the Indiana Gaming Commission. Besides the sports betting app, the company operates three casinos in the state – Harrah’s Hoosier Park in Anderson, Horseshoe Hammond, and Horseshoe Indianapolis in Shelbyville.

The three account for 31.4% of the 14,789 slot machines or electronic gaming devices in the state, and 36.9% of the 656 live-dealer table games. In April, those three casinos combined to generate $83.4 million in adjusted gross revenues. That represents 37.6% of the revenues the state’s 12 casinos reported for the month.

As sportsbooks go, Caesars isn’t as big as FanDuel and DraftKings in the state, which accounted for more than 58% of the state’s $360 million handle in April. Still, the company’s app and retail sportsbooks produced $47.8 million in handle for the month. That ranked third in the state.