The launch comes as residents of the Buckeye and Sunshine states are eagerly awaiting the launch (or re-launch) of online sports betting, and as Caesars is looking to broaden its wagering menu.
Caesars Sportsbook is diving deeper into the world of horse racing as part of the operator’s ongoing expansion of online gaming in the United States.
In conjunction with NYRA Bets, the official online betting platform of the New York Racing Association, Caesars Sportsbook has launched a new horse racing account wagering app, Caesars Racebook, in Florida and Ohio, “with plans to add additional states throughout the year,” a press release noted.
The app relies on NYRA Bets' user interface and technology, which will provide bettors with handicapping insights and race replays, among other things.
"The launch of Caesars Racebook is an important milestone as we continue to add wagering opportunities for our customers and livestreaming content for the first time," said Dan Shapiro, senior vice president and chief development officer of Caesars Digital, in the release. "We look forward to welcoming new horse racing customers and existing fans onto our platform and to working with NYRA Bets to grow horse racing as we deploy Caesars Racebook with plans to launch in about 30 states across the country."
The expansion into Florida and Ohio allows Caesars to tap into the still-significant market for horse-race betting, which generated $12.2 billion in pari-mutuel wagering in 2021.
Caesars' entry into the Florida market is likely welcome news for bettors in the Sunshine State's otherwise paralyzed sports-betting industry. At present, retail casino gaming, pari-mutuel horse racing, and the Florida state lottery are the only forms of legal gambling in Florida.
A brief attempt by Hard Rock Sportsbook to introduce online sports betting into Florida via its sportsbook app in November 2021 was halted barely one month later after a federal judge shot down a gaming compact between the state and the Seminole Tribe. While the matter is still before the courts, it has effectively shut down sports betting in the Sunshine State for the foreseeable future.
(However, the judge’s rejection proved too late for Atlanta Falcons wide receiver Calvin Ridley, who was given an indefinite suspension for the 2022 season for reportedly betting on NFL games with Hard Rock during a five-day period in late November 2021 while on the non-football illness list.)
Meanwhile, Ohio sports bettors will at least have horse racing to wager on, as they still have months to go before they can start legally using Caesars Sportsbook. Although the bill legalizing sports betting in the Buckeye State was signed into law in December, regulators have set Jan. 1, 2023, as the start date for wagering, owing to the need to properly prepare for the "largest expansion of gaming in Ohio's history."
Horseplayers can now download the official Caesars Racebook app on iOS, which offers pari-mutuel horse-race wagering on more than 250 tracks in the U.S. and around the world. New customers registering for Caesars Racebook will also be eligible for a 100% first deposit match up to $500.
According to Matt Feig, General Manager of NYRA Bets, the joint venture with Caesars "will expand access to world-class horse racing now and in the future… and is a win for horse racing, its stakeholders, and countless racetracks around the world."
The Caesars Racebook app launch also comes on the heels of a series of major partnerships struck with Caesars Sportsbook, which is currently active in more than 20 states. For instance, in January, Caesars and NYRA announced the former would be the official sports betting marketing partner in New York and the title sponsor of the NYRA Turf Triple Series at Belmont Park and Saratoga Race Course.
Caesars Sportsbook is dabbling in other forms of racing as well, as it announced last month that it had become the official sports betting partner of the Indy 500 and the Indianapolis Motor Speedway (IMS) organization. Caesars Sportsbook will be sponsoring all of the remaining IMS races in 2022, including the Brickyard Vintage Racing Invitational on June 18-19, the Indycar Gallagher Grand Prix on July 30, and NASCAR’s Verizon 200 at the Brickyard held on July 31.
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