Churchill Downs Lines up SBTech as Strategic Partner
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The lifting of the long-standing ban on betting by the US Supreme Court is set to bring significant changes within the entire industry, both in the US and on a global basis. News and speculation are already coming through, just days after the ruling and the Churchill Downs organisation are among the first to take advantage.
The Churchill Downs company are behind the annual Kentucky Derby; one of the most famous and richest sporting events in the world, the horse race is held on the eponymously named Churchill Downs track in Louisville each May and has a huge $2million purse up for grabs.
On a wider scale, the organisation is heavily behind US Sport in general so perhaps they are a logical choice to provide one of the first online betting platforms in the wake of this new announcement.
Regular punters may not be aware of their existence but SBTech are one of the most important players in the industry. A software provider, the company provides platforms for sportsbooks right across the world and they have been chosen to partner in with Churchill Downs Inc (CDI) as the company makes its first foray into the world of online gambling.
The report states that SBTech will be the ones to produce a US-facing Sportsbook and, more specifically, it is being reported that CDI will initially be offering products in New Jersey, Pennsylvania and Mississippi, subject to licenses being approved in each of those states.
Churchill Downs’ CEO Bill Carstanjen stated:
We have the unique opportunity to leverage our knowledge and experience operating the largest legal online horse racing wagering business in the US as we enter the iGaming and sports betting markets.
In reply, Richard Carter, chief executive officer of SBTech said
We both share a deep commitment to technological innovation and excellence, and we look forward to working with them during this exciting time in the history of the US gaming market.
Mr Carter also said that SBTech were thrilled to be partnering in with the Churchill Downs organisation and why wouldn’t they be? This is huge breaking news and both sides have moved quickly to get in at the ‘ground floor’ and take full advantage of the new ruling.
Land of Opportunity
The Supreme Court’s decision in regards to the previously strict US gambling laws is one of the biggest landmarks in the history of betting and news regarding this deal and proposed mergers on both sides of the Atlantic are just the tip of a very big iceberg.
As one of the biggest and most recognisable horse racing companies in the US, it should be no surprise to see Churchill Downs Inc as one of the first names to take advantage of the new ruling as they are a perfect fit to provide markets not just for horse racing but for sport in general both in the US and possibly beyond.
It will be fascinating to keep tabs on this particular story and to follow the continuing news surrounding online betting in the United States.