In a short series of articles, Wedge Index takes a look at some of the less well-known brands populating the space right now and assesses their hopes.
There is understandably a lot of focus on the top-tier brands at present.
Indeed, the sportsbook weightings featured in the Wedge Index place great emphasis on the larger entities.
Each of the top names – DraftKings, FanDuel, BetMGM, FOXbet, Barstool Sportsbook – adds four points to any state tally.
However, beneath them lies a whole ecosystem of operators that could potentially breakthrough.
Either in individual states or in multiple jurisdictions, these smaller brands are vitally important and add to the competitive nature of each state.
Carousel in Colorado
We start our assessment of some of the lesser but no less important names with Sportsbetting.com in Colorado.
The most recent data from the Colorado authorities showed handle rose 61% in September to $207m. October’s revenue figures are due later this week.
Carousel Group’s SportsBetting.com is aiming for a slice of that pie. The offering launched in September and marked the debut of the brand in the U.S.
The group’s CEO Daniel Graetzer says the market in Colorado is “quickly surpassing any predictions” for both consumer interest and handle.
“This gives us huge confidence that there will be more than enough liquidity in the market to allow for healthy competition,” he says.
A class apart
The SportsBetting.com site has been built on Carousel Group’s proprietary software and in-house elements such as the trading and risk management team.
“It means that our flagship brand SportsBetting.com can stand apart from the competition with a unique user experience and product offering.
“We offer some of the highest limits and best odds in the market, all the way down to 5c lines on NFL,” Graetzer adds.
“Our welcome offer is by far the best in the Colorado market – with a player’s entire first week risk-free up to $1,000.”
As for the choice of launch state, Graetzer says it was strategically chosen for a number of reasons.
Number one, the regulator is “pragmatic” and is leading the way in striking a balance between player protection and fostering a competitive market.
“It is also full of sports fans and has some great local teams across all major sports, meaning there are always hometown heroes to keep our marketing team busy.”
Taking on the big boys
Graetzer is determined that SportsBetting.com can do more than just make up the numbers in Colorado.
“We can do more than compete, we have the flexibility and agility to take a very different route to acquiring customers,” he says.
Looking to some of the money being spent by his larger rivals, he suggests that smaller players can focus on providing “smart sportsbook management”.
That means a hyper-localized offering and excellent customer service.
He adds that SportsBetting.com will be live in five states by the end of 2021, but the approach will not change.
“Carousel Group will always focus on its customer-centric and localized approach – this will be the key to our success.”
