- Covers Media Group gained a license from the Indiana Gaming Commission.
- The group can now create a business partnership with local sportsbooks.
- Sports betting was launched in Indiana on September 1.
INDIANAPOLIS – Early this week, Covers Media Group was licensed to expand its operations in Indiana.
Partnering With Indiana’s Sportsbooks
Covers Media Group petitioned to the Indiana Gaming Commission for a Sports Wagering Registrant certificate. This certificate allows Covers Media Group to expand its business in Indiana.
Covers Media Group will now be allowed to forge partnerships with sportsbooks based in the state. The certificate does not limit how many partnerships Covers Media Group can have. The group can work with retail sportsbooks, or online and mobile sportsbooks. The Group is already working towards making those partnerships.
“On the back of the news that we are approved to operate the Covers sports betting products in Indiana, we are set to complete several partnerships with in-state operators,” said Mark Harper, general manager of Covers Media Group.
Entering An Exploding Market
Indiana sportsbooks launched on September 1 earlier this year. Since then, the market for Indiana sports betting have only increased.
In the month of October alone, there was over $91.7 million wagered by people in the state. That allowed the sportsbooks to collect a total of $11.5 million in revenue.
With this new certificate that the Covers Media Group received, they will gain a piece of that revenue share. The group will refer customers to the sportsbook operators that they are partnered with. This will allow the group to receive shares from revenue generated and fees from the referred customers. As sports betting expands in Indiana, the market revenue shares will only increase over time.
Daniel is a writer that enjoys writing to inform readers. When Daniel was writing for The Borgen Project, he liked informing the world about victories in global poverty issues. Daniel is also an avid horse racing fan who has been going to the track with his father for over a decade betting the ponies. When he is not writing about sports betting or at the track, Daniel loves playing video games and watching sports in his spare time.