PlayUp has made some moves to expand their market reach in the US. Their latest moves completed a series of three strategic locations in conjunction with Caesars Entertainment.
The company will now be able to offer sports betting in Iowa and Indiana. In addition, they will also be able to extend their iGaming platform in New Jersey, once it is approved.
PlayUp has been itching to extend their market presence in the US. This gives them the perfect opportunity to have a positive strike in the betting industry.
What PlayUp Brings to the Table
PlayUp is a leading provider of top quality betting entertainment and technology. They have already begun their licensure in the states to help expedite this process.
With their online cloud based betting technology, they provide the following opportunities to customers:
- Fixed Odds Sports Betting
- Fixed-Odds Racing (Horses and Greyhounds)
In addition, their Daily Fantasy Sports sector is quite popular in Australia. It has become one of the largest prize pools in the globe.
PlayUp has expanded their market share through many markets. These include the US, Australia, New
Zealand and even India.
How the New Markets Benefit PlayUp
The addition of these three markets will pair up nicely with what PlayUp has in their existing portfolio, such as the licensed location in Colorado and their soon to be New Jersey market. The company is well respected among other markets outside the US too, in Australia and New Zealand.
PlayUp USA CEO, Dr. Laila Mintas, has stated that the new markets will be a crucial part of their continued growth and success. The addition of the iGaming space that is through New Jersey will definitely compliment what the company can do and look forward to doing so.
Looking at sports betting as a whole, the company provides an intriguing foothold on the competition. Their technology and what they can provide to the iGaming space poses a real threat to other companies.
Details of the New Markets
The new markets will generate some cash, or at least expected figures, to PlayUp. The newest additions have estimated market ranges of $500 million by looking at just a few months.
These markets, a few locations specifically, have recently posted just under $500 million a few months ago. The following were from these states:
- Indiana $236M in April
- Iowa $118M in April
- New Jersey iGaming $113M in March
These figures have been estimated to grow each month. With continued market success and popularity among sports betting, these numbers will surely increase over time.
Upon completion of regulatory procedures, PlayUp will be within the top 15 percent of US operators to have access through size states. This is an excellent first step leading to positive growth.
Moving forward, PlayUp has strategically made the right moves to set up their future in the US market. As the betting market continues to grow, then you could definitely see PlayUp take the market to a new competitive advantage.