888 Holdings announced on Wednesday that its sports betting arm, 888 Sport, would be entering three new markets in the United States in 2021. The company is targeting Colorado, Indiana, and Iowa to launch a new sportsbook in the coming year.
888 Holdings is a company based in Gibraltar, but it already has established a presence in three states in the US. 888 Sport offers online casino gambling in Delaware, New Jersey, and Nevada, but this will take the company to new heights.
888 Holdings reached an agreement with Harrah’s Hoosier Park in Indiana, Grande Casino in Colorado, and Catfish Bend Casinos in Iowa to enter the sports betting markets in each state. This company has plenty of experience in the international industry, but it is looking to become a leader in the US.
New Jersey Now Clear Leader
Nevada has long been considered the sports betting capital of the United States, but that is no longer the case. That title now belongs to New Jersey, and the gap between the two states continues to grow.
In October, New Jersey reported a sports betting handle of more than $800 million, which easily shattered the previous record. That record was also set by New Jersey, and it doesn’t appear as if Nevada will be able to close the gap anytime soon.
888 has already played a role in New Jersey taking over the title from Nevada, and it will look to do the same in the new markets. States that have mobile registration will give 888 a better shot to succeed, and all three new markets will have that in place as of January 1, 2021.
Midwest Taking Over Industry
The Midwest portion of the United States has seen tremendous growth in the sports betting industry over the last 12 months, and 2021 is set to become a huge year as well. Indiana and Iowa both launched sports betting in 2019, and Illinois and Michigan joined the industry in 2020.
Tennessee recently launched sports betting in November, and Ohio is currently exploring the industry as well. This has created some great competition in this part of the country, which has been a huge plus for sports bettors.
Along with Iowa and Indiana, Colorado is another growing sports betting industry. 888 has strategically targeted these three states, and it should lead to enormous dividends for the growing company.
United States Over $3 Billion
The state of Illinois has not yet reported sports betting numbers from October, but those figures should be in sometime this month. When that happens, it is expected that the United States sports betting industry will go over the $3 billion mark for the first time in any single month.
Illinois reported more than $305 million in sports betting in September, and even half of that number would push the US market to a new record. Out of the 15 states that have already reported sports betting numbers in October, 13 states have already set new records.