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In the near future, Michigan will lack an online sports betting and online casino alternative.
Churchill Downs Incorporated has made an announcement on Thursday morning, stating that TwinSpires will be discontinuing its online sports and casino wagering venture.
TwinSpires, which has been a part of the online industry in Michigan since its launch in January 2021, will now concentrate exclusively on horse racing.
Questions remain about timeline of TwinsSpires exit
CDI conducted an earnings call on Tuesday morning, during which it disclosed its plans to implement a significant change.
Bill Carstanjen, the CEO of CDI, announced that they will be pulling out of the online wagering space targeted towards consumers. Although this outcome wasn’t what they desired, it is considered the sensible next move. Nonetheless, their enthusiasm for TwinSpires horse racing remains unchanged.
Despite not being one of the leading online sportsbooks & casinos in Michigan, TwinSpires managed to maintain a loyal following throughout the past year.
Following the announcement of the partnership with Island Resort & Casino, concerns persist among current users regarding the potential implications of this development.
Playinmichigan raised questions to both Island Resort & Casino and TwinSpires.
- When is the expected timeframe for the exit?
- What is the fate of the existing accounts?
- Will someone else be assuming control of the license?
As of now, TwinSpires has not provided a response to our inquiry. Island Resort & Casino has released a statement stating that they currently do not have any comments or information regarding TwinSpires.
History of TwinSpires in Michigan
TwinSpires is relatively new to the online sports betting & casino industry.
CDI made an announcement on January 5th, 2021 about rebranding BetAmerica to TwinSpires.
“In our pursuit of a lucrative sports betting and iGaming venture, we are committed to creating an integrated experience for our customers in addition to our horse racing wagering platform,” stated Bill Mudd, president and chief operating officer of CDI, in a press release. “By transitioning to TwinSpires, we not only achieve marketing efficiencies but also enhance our ability to provide a comprehensive overall experience to our expanding online wagering customer base.”
In September 2020, BetAmerica Sportsbook had already formed a partnership with Island Resort & Casino.
Ever since online sports betting became legal in Michigan on January 22, 2021, TwinSpires has consistently ranked among the least preferred sportsbook choices in the state.
As of January 2022, the total online sports betting handle amounted to $22,193,228, resulting in a gross revenue of only $1,432,880.
In January 2022, TwinSpires generated a total revenue of $18,029,942 from its online casino.
TwinSpires staying in horse racing game
Even though TwinSpires has decided to discontinue its online sports betting and casino activities, it will continue to be one of the limited choices available for Michiganders who want to engage in online horse racing.
The online horse racing betting app of TwinSpires was launched in March 2021.
TwinSpires faced a complication as it had separate apps for horse racing betting and its online sportsbook & casino, which was inconvenient for potential users. Despite reported efforts to streamline the process, they were unsuccessful in bringing them to fruition.
Users of the TwinSpires horse racing app can place bets on races taking place in more than 30 states.
Some of the popular tracks that can be found on the TwinSpires app include:
- Aqueduct
- Belmont Park
- Churchill Downs
- Del Mar
- Monmouth Park
- Pimlico
- Santa Anita
- Saratoga
- Tampa Bay Downs
In the local area, Northville Downs has established partnerships with both TwinSpires and TVG.
