In a move with significant implications for the expansion of TwinSpires, Churchill Downs Inc. has reached a five-year partnership agreement with Sportsradar.
The TwinSpires offer code promotes the online horse racing arm of Churchill Downs Inc. The company decided to move away from BetAmerica as its online sports betting entity and combine both online gambling verticals under the more popular TwinSpires brand.
This announcement was rather timely with the 2021 Kentucky Derby back on the schedule for the traditional first Saturday in May at Churchill Downs in Louisville.
The goal of this partnership is to enhance the sports betting experience through the TwinSpires sportsbook app. Sportsradar has built its business by providing timely sports betting data. This includes pre-game information as well as real time live betting statistics.
Sportsradar currently offers this service to sportsbooks in the US as well as on an international scale. Adding this feature to the TwinSpires betting app will allow the company to compete with the major players in the rapidly expanding US sports betting market.
The changeover from BetAmerica to TwinSpires for Churchill Downs’ sports betting business took place early in the year and it is already paying some big dividends. The brand was launched in Michigan back in January as one of the newest markets for legal mobile sports betting.
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As the online betting brand of Churchill Downs Inc, TwinSpires is still recognized nationally for horse racing. However, the brand has been gaining traction in both online sports betting and casino gambling.
Expansion of the mobile TwinSpires Sportsbook app has recently reached two key betting markets. It went live in Pennsylvania on April 20 while also rolling out its mobile casino games app in the Keystone State.
The sports betting app was launched in Indiana on the same day. In a company press release, President of TwinSpires, Ian Williams commented:
“We’re based just across the Indiana/Kentucky border in Louisville, so are thrilled to be launching our state-of-the-art sports betting app so close to home.”
Sportsradar has also been expanding its reach with a deal in March to acquire Synergy Sports in an effort to reach new markets. The main emphasis has been expanded within the US sports betting industry.
However, this global entity has already partnered with more than 1000 different companies around the world. It also created strategic partnerships with major sports leagues such as the NBA, NHL, MLB, NASCAR and FIFA.
Sportsradar was founded in 2001 and it is based in St. Gallen, Switzerland. Most of its significant growth has taken place in the past few years with the emergence of the legal sports betting industry in the US since 2018. The company currently employs more than 2,200 worldwide.
Earlier in March, the company struck a deal to go public with the help of the Horizon Acquisition Corp. as a SPAC (Special Purpose Acquisition Company).
At that time, Sportsradar was valued at $10 billion. Interestingly enough, this SPAC is headed up by Todd Boehly as a minority owner of the MLB’s Los Angeles Dodgers.