The new, upgraded Caesars Sportsbook is coming to Pennsylvania just in time for college football and NFL betting. The new version of the app is preparing to launch on August 30. However, Caesars Sportsbook has been live Pennsylvania since March 2020 but has done little to establish more than .1% of market share despite strong brand recognition.
Will the upgrade help Caesars make Pennsylvania its empire for sports betting?
New Caesars Sportsbook in PA
Caesars Entertainment acquired William Hill in early 2021, In August 2021, Caesars unveiled a rebranded and upgraded Caesars Sportsbook in some states with:
- Customized offers
- Flexible limits
- A wide range of betting lines
- Liberty, the company’s owned and integrated tech stack that was acquired in the William Hill deal.
When is the new Caesars Sportsbook coming to PA?
When logging into the Caesars Sportsbook app in PA recently, users are greeted with a message headlined “Tropicana rebrand and sportsbook wind down.” It then details when users can expect the new Caesars sports betting app and what’s ahead. Here are the key points:
- The new Caesars sportsbook and online casino app in PA will launch on August 30.
- Do I already have an account on the new Caesars sportsbook app? No. You need to create a new one.
Caesars Sportsbooks links with Caesars Rewards loyalty program and bets earn Caesars Rewards Tier Credits and Reward Credits. Reward Credits earned within the Caesars Rewards network can be redeemed at over fifty destinations across states for things such as bonus play, dining, getaways and more.
Caesars sports betting app in Washington, D.C.
What can sports bettors in Pennsylvania expect from the new Caesars online sportsbook? Washington D.C. might offer a hint.
Caesars online sportsbook launched in Washington, D.C. on August 10. Caesars called it the “most advanced version” of its sports betting platform and a “substantial upgrade.”
It features:
- Additional ways to deposit funds and faster payouts,
- Live scoreboards
- Expanded in-play betting options
- Same-game parlays
- Expanded ways to wager and thousands of additional markets.
- Cleaner and more user-friendly interface
Sportsbooks in Pennsylvania and Caesars market share
There are currently 14 legal, regulated sports betting apps live in Pennsylvania. FanDuel Sportsbook has dominated since arrival and has about a 36-40% monthly market share.
Online handle in Pennsylvania in the slow sports month of July 2022 was $336.5 million. Caesars sportsbook only accounted for .25 (less than 1%) of all online bets.
Caesars online casino and sportsbook operate in PA through its partnership with Harrah’s Casino Philadelphia.
Pennsylvania online sports betting fiscal year totals for 2021/2022
Handle: $6.5 billion
Revenue: 461.5 million
Caesars online sportsbook
Handle: $32.9 million
Revenue: – $69,655
No other sportsbook finished in the red for net revenue. Betfred (WindCreek) ended the FY in the red for gross revenue.
When asked during the Q1 call about building market share in states where the app is not migrated yet, CEO Tom Reeg answered in part:
“One of the states that still needs to come on Liberty is Nevada which is obviously a big one for us. In terms of building share, these are states where we’re undeniably late to the game. We’re going to be smart about how much resources we throw at them, but roll in tying them into our brick-and-mortar business. Obviously, we’ve got a lot of customers out of Pennsylvania, both in Chester and in Atlantic City. We’d expect to continue to grind higher in market share.”
