Mobile-first online wagering provider, BlueBet Holdings Ltd. announced that its wholly-owned subsidiary BlueBet Indiana LLC has signed an online market access agreement with Horseshoe Hammond, LLC, a 400,000 sq. ft casino located in Hammond, Indiana owned by global casino giant Caesars Entertainment. The market access agreement is BlueBet's fourth in the US and will enable BlueBet to operate a new online sportsbook in Indiana under its ClutchBet B2C brand (pending regulatory approval and licencing).

The agreement has an initial 10-year term. Indiana, a state of ~6.8 million people, first legalised online sports betting in October 2019 and has generated $4.5 billion in wagering handle in the last 12 months. It is a major sporting state in the US, home to well-known professional sports teams such as the Indiana Pacers and Indianapolis Colts as well as many college and pro league teams. With market access now secure in four US states, BlueBet now has the platform to complete the first stage of its differentiated "Capital Lite" US entry strategy, being to launch its US B2C brand ClutchBet and demonstrate the capability of its technology and team to run profitable sportsbooks in the US.

While there remains significant opportunity for B2C expansion into other target US states, BlueBet's focus and capital will now be directed towards executing in each of the four initial states, alongside seeking partners nationwide for the launch of its white-labelled Sportsbook-as- a-Solution B2B offer, the second stage of its US entry strategy. BlueBet expects to take first bets in its first US state, Iowa, in the coming weeks, followed by Colorado and Louisiana in Second Quarter FY23 and Indiana in H2 FY23.