The Indianapolis Colts are playing Thursday night and Indiana sports betting fans now have another place to tail or fade their team.
SBK is partnered with Full House Resorts, who helped facilitate their current arrangement with the Rising Star Casino in Southwest Indiana. Full House Resorts also assisted SBK’s debut in the U.S. when it launched its app in Colorado two years ago.
"As one of the only smaller, private operators to have successfully launched in the US, I'm thrilled to go live in a second state with SBK," said Smarkets CEO Jason Trost. "We are simply not like other operators; our focus is on providing the best odds possible and in-house product excellence, and we believe this ethos will win out in the long run."
The launch could not happen soon enough. SBK has offered legal sports betting in Indiana since March — but it was only through a retail location at Rising Star and has been at the bottom of the success pile every single month.
August's revenue numbers for Indiana showed of the 13 operators in Indiana, SBK generated just $3,111 in handle — falling well short of the second-last place Betway (which generated $183,294 in tickets).
It will still be an uphill climb, however, as the Top 4 online sportsbooks in Indiana account for about 80% of the market share, while Indiana also just gained another competitor with MaximBet entering into the fold.
The timing of the app, however, should get SBK plenty of traffic.
To get users on the SBK sportsbook, Smarkets will be eliminating their house cut (aka juice) for both the spread and total of Thursday’s Colts v.s Broncos game.
On top of that SBK will also offer a "Bet $20, Get $100" sports betting promotion for new customers.
More moves ahead
After opening in Colorado in 2020, SBK is now fully operational in a second state with Indiana.
But there are plans for further expansion, as next up on the docket will be launching in Iowa.
"We have a lot of momentum as a company right now," said Trost. "The launch in Indiana is just one of many more exciting milestones on the horizon."