Can TwinSpires Outperform Predecessor BetAmerica Following Relaunch In PA and IN?

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Churchill Downs continued the rollout of its TwinSpires sportsbook brand with launches into two new markets last week.

TwinSpires went live in Pennsylvania and Indiana, the company said in a press release.

In both markets, it rebranded from the old BetAmerica name and moved onto a new technology platform.

What Churchill Downs said

“As the official betting partner of the Kentucky Derby, Pennsylvanians already know us as the home of online horse wagering,” said Ian Williams, president of TwinSpires.

“We’re now excited to expand our product into online sports betting and casino games, and look forward to serving those in the Keystone State with the best in market online and mobile product, promotions and offers.”

Williams gave a similar statement around the Indiana launch, highlighting the fact the company is based just over the border in Louisville.

“We thrilled to be launching our state-of-the-art sports betting app so close to home,” Williams added.

Why the rebrand?

Churchill Downs said previously it was rebranding because of the name recognition around TwinSpires. That is the name it uses for its online horse racing product.

A single brand also reduces marketing costs and helps cross-sell from horse racing, CD said.

As part of the overhaul, the company moved from SBTech technology to GAN and Kambi.

Indeed, a shakeup was needed. BetAmerica previously had less than a 1% share of handle in PA.

Shaky start for TwinSpires in MI

The new states mark the second and third markets for TwinSpires since the brand overhaul.

It first launched in Michigan, where the initial returns have been a little underwhelming. The sportsbook accounted for 0.8% of handle in March. It also generated negative net revenue thanks to its bonusing efforts.

Of course it is early days, and the company still has plenty of market left to switch over before it can start focusing more heavily on product.

Other markets to be switched over in H1 2021 includes: