Yet another major international online sportsbook and casino platform is expanding in the US. 888 Holdings has recently announced a partnership with Authentic Brands Group in June of this year and the two are planning on releasing their Sports Illustrated online sportsbook in Virginia.
888 Holdings recently received their provisional license from the state of Virginia which has paved the way for them to further expand their business in the US.
The partnership that has been established is most certainly mutually beneficial as the SI Sportsbook gets the power of 888 Holdings behind them and 888 Holdings have found a partnership that works for them to expand their brand into the Virginia betting industry. As it stands, 888 are currently operating with a sports betting license in 9 different US states that includes: Colorado, New Jersey, Nevada, Indiana, Iowa, Michigan, Pennsylvania, Delaware and now Virginia.
Naturally, the goal is to rake in profits if you are 888 Holdings, however, there are far more philanthropic schemes in place with this partnership as well. Firstly, 888 have partnered with an all-female led sports betting data company in Virtual Entertainment Partners LLC. The company also comprises 100% African-American females which is quite frankly a major step in the right direction for the betting industry as a whole in the US.
In addition to this, 888 are looking to advance one of their main goals with this partnership which is to make major contributions to the communities as a whole in Virginia. With VEP at their side, 888 will be able to pay far more attention to the minority communities which will create far more opportunities and commercial value for these communities. This partnership and the queried sports betting license in Virginia is another major step for 888 continuing their rising presence in the US sports betting markets. They now have a solid foothold from which they can continue to expand and grow into more and more states. With the backing of VEP and the Sports Illustrated sportsbook, there is no ceiling for 888 and what can be achieved in the eastern bloc of the US.
Virginia is of course one of the newer states that have legalized sports betting and so you would expect their numbers to be fairly low for now. On the contrary, though, interest in sports betting seems to be very high in the Old Dominion. There has already been as much as $2 billion in sports bets, with September being one of the stand out months with a total revenue of $293 million. When you really take a look at how long Virginia has actually been in the online sports betting industry, these numbers are pretty astonishing. Its been a rapidly growing market in the state which gives you an idea why 888 Holdings were so eager to make their mark in the state. The popularity of online sports betting will likely only continue to grow, especially with the likes of 888 Holdings providing a new and exciting platform for residents to sign up for.
With their spot now firmly secured in Virginia, it begs the question, where will 888 Holdings look to expand to next. They are currently only invested in 9 states in the US but with over 30 states that now allow legal online sports betting, we can’t imagine 888 are planning on slowing down. There are a number of enticing options for them to expand into, provided they are given a provisional sports betting license. With their reputation and resources, it’s difficult to see why any state would not want this juggernaut of the online sports betting industry to take up residence in their state.
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