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Churchill Downs Inc. Moves Into Sports Betting Arena

09/13/2019

With retail sports betting opportunities opening up all over the US, Churchill Downs Inc. has made the decision to jump in and participate at the highest levels possible. From the company's headquarters in Louisville, Kentucky, Churchill Downs Inc. has been a stalwart in the horse racing industry for decades. Among its primary business ventures are ownership in the Churchill Downs racing facility (home to the Kentucky Derby), ownership and management of the TwinSpires.com online horse racing betting site and ownership in the Derby City gaming facility in Louisville.

In partnership with Full House Resorts, Churchill Downs Inc. will now be seeking to run sports betting operation in Southern Indiana and Colorado. Using the BetAmerica online sports wagering platform, the company is seeking licensing to run sports betting operations at the Rising Star Casino Resort ("Rising Star") in Southern Indiana while also seeking approval to provide the same services at the Bronco Billy's Casino and Hotel in Cripple Creek, Colorado.

To date, the Indiana state legislature has already legalize sports betting for its residence. Wagers are currently being accepted by other Indiana casino operations on American pro and college sports, as well as popular sports from other parts of the world. This will essentially make Churchill Downs a late player to the party, though the company carries the most recognizable brand in the Kentucky/Illinois/Indiana tri-state area.

There's a bigger challenge that faces Churchill Downs on the Colorado front. To date, the state has yet to pass the necessary sports betting legislation. That is expected to take place in November when Colorado voters are expected to vote for and get Colorado's sports betting bill, HB 19-1327 ratified. This will immediately open the door for both Full House Resorts and Churchill Downs Inc. to secure the appropriate licensing. In the process, both companies could distinguish themselves by opening the first legal sports betting operation in the state.

In both states, bettors will be able to bet on all US professional sports leagues, NCAAFB, NCAABB and major sports from other parts of the world. The BetAmerica platform accepts straight bets, parlays, teasers, prop bets and future odds betting.

According to Bill Carstanjen, CEO of CDI: "We believe our innovative, state-of-the-art products and deep experience as the leader in online horse racing wagering enable us to introduce a premier sports betting platform in Indiana. We look forward to the opportunity to provide our BetAmerica Sportsbook to the residents of Colorado in the future as well."

 
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