April 14, 2022
Sports Betting Guru
Sports Betting Guru
Facing heavy competition in the newly legal New York state sports betting marketplace, Caesars took a step forward in expanding their reach by entering into a multi-year partnership agreement with the New York Mets.
Since New York state opened up legal sports betting, it has been crowded at the top end of the marketplace. FanDuel has held a decent lead in handle, with Caesars and DraftKings neck-and-neck for second place. Caesars took a major step forward in the battle by inking a multi-year deal that will make them an official sports betting partner of the New York Mets. The move gives Caesars an edge over their competitors, especially with excitement for the Mets running high and baseball season just getting underway.
New York has quickly proven itself to be a worthwhile market to invest in. Caesars alone took over $700 million in bets in their first month of legal New York sports betting and have amassed over $1.2 billion in total handle as of the end of March. Caesars knows that partnerships like this one can be beneficial, as they have similar arrangements with the Arizona Diamondbacks, Buffalo Bills, and Las Vegas Golden Knights as well as some high profile college teams. Co-President of Caesars Digital Chris Holdren said:
“New York is a key state for us following the successful launch of our Caesars Sportsbook app in January. The Mets’ fanbase is one of the most loyal in baseball and this partnership offers us the chance to treat those passionate fans like Caesars. We look forward to opening our space at Citi Field during an exciting time for the franchise.”
A key part of the partnership revolves around the creation of a 13,000 square foot upscale lounge area at Citi Field. The lounge features a multi-level dining room as well as an outdoor patio that overlooks left field. It will not include a retail sportsbook, rather it will be a comfortable place for fans to utilize the Caesars online sports betting app for wagering. The lounge is expected to be completed and opened for fans to enjoy at some point during the 2022 baseball season.
In addition to the new lounge, Caesars will also gain access to official New York Mets logos, TV-visible in-game signage, and broadcast and digital content across various Mets’ properties. Mets fans will be encouraged to join the Caesars Rewards loyalty program which will feature VIP packages and hospitality assets related to the Mets. The array of perks should be effective in enticing Mets fans to join the program, giving Caesars the opportunity to increase their audience and market directly to interested fans without the large expenditure of TV ads and other types of traditional marketing efforts.
On the surface, this partnership gives Caesars a significant edge over their competitors in terms of exposure, and they also have some name recognition with New York residents due to their high profile retail sports books at destination casinos Turning Stone, Point Place Casino, and Yellow Brick Road. Caesars recently announced that they are nearly eliminating their TV advertising after a huge initial push in an effort to cut expenses. With FanDuel and DraftKings still doing the full court press with traditional ads, it will be interesting to see how effective this partnership will be compared to their main competitors’ efforts.
In addition to benefits for fans and Caesars, the Mets have high hopes of increasing fan engagement. Major League Baseball teams are just beginning to embrace these types of partnership as the legal landscape has changed. The team is hoping that in addition to the loyal fans who live ad with the team’s hopes, that they will be able to garner interest from a new and younger audience of gamblers. The hope of course is that gambling will function as the “gateway” to help new fans fall in love with the game, or fall in love with it again.