iGaming Operator BlueBet Terminates Partnership With Indiana’s Horseshoe Hammond

BlueBet, an Australian bookmaker and online gambling operator, has officially decided to terminate its market access agreement with Horseshoe Hammond in Indiana. This decision was publicly announced on Monday, marking a significant shift in BlueBet's strategic approach to its US operations.

Strategic Withdrawal from Indiana

The termination of the agreement means that BlueBet will no longer pursue the launch of its sports betting services in Indiana, commonly known as the Hoosier State. The decision to withdraw from the Indiana market was made following an in-depth strategic review of BlueBet's US operations, which concluded on June 30.

The review aimed to optimize the company’s focus and resources by prioritizing markets where it already has an established presence and better growth prospects. As a result of this review, BlueBet has decided to concentrate its efforts on enhancing and expanding its business-to-consumer markets, specifically in the states of:

• Colorado

• Louisiana

• Iowa

In these states, BlueBet provides sports betting operations under its ClutchBet subsidiary.

Expansion of B2B Operations in the U.S.

ClutchBet is responsible for delivering a range of sports betting services, leveraging BlueBet’s proprietary technology to offer a competitive and user-friendly experience for sports bettors in these regions. The focus on these states reflects BlueBet’s strategy to build stronger market positions where it has already established regulatory and operational foundations.

Despite withdrawing from Indiana, BlueBet is actively growing its business-to-business (B2B) operations in the Midwest, demonstrating a diversified approach to its expansion strategy. Earlier in the year, BlueBet announced its first US B2B sportsbook deal with Green Savoree Mid-Ohio, a notable development for the company.

The partnership aims to launch online sports betting operations in Ohio, contingent on securing the necessary regulatory licensing and approvals.

• Green Savoree Mid-Ohio is a professional motorsports facility located in Lexington, Ohio.

• The venue opened in 1962 and has a seating capacity of more than 75,000.

• It represents a strategic partner for BlueBet’s B2B ambitions.

The collaboration will see the development and launch of “Mid-Ohio Sportsbook” using BlueBet’s proprietary technology, designed to deliver a robust and reliable sports betting platform.

Domestic Growth and Betr Acquisition

The agreement between BlueBet and Green Savoree Mid-Ohio is initially set for a five-year term. During this period, BlueBet will receive an annual fee based on a comprehensive range of sportsbook-as-a-solution features provided by the company. As business revenue grows and reaches a specified threshold, the deal will transition to a revenue share model, aligning both parties’ interests.

BlueBet is also focusing on bolstering its domestic presence in Australia through a binding sales agreement to acquire Betr, a strategic move aimed at creating a leading Australian wagering operator.

• The acquisition involves issuing approximately $265.4 million in fully paid shares to Betr shareholders.

• The merger will combine both companies’ strengths, leveraging shared expertise and resources.

• The goal is to capture a larger share of the Australian wagering market.

The merger with Betr was a key factor prompting BlueBet’s comprehensive strategic review, which ultimately led to the decision to exit the Indiana market — a move that positions the company for more focused and sustainable growth across its most profitable regions.