On Tuesday, Churchill Downs Incorporated announced a BetAmerica brand overhaul. According to the CDI press release, BetAmerica will be rebranded as TwinSpires, previously the name of the company’s online horse betting platform. The rebrand will take place during the first half of 2021.
TwinSpires will first launch in Michigan, where online sports betting is expected to launch in January. As the year progresses, TwinSpiers will also look to launch in New Jersey, Colorado, Indiana, Mississippi, and Pennsylvania.
Now that the sportsbook is also being renamed TwinSpires, a newly developed all-in-one product should yield a higher marketing opportunity. The purpose of this rebranding is to make Churchill Downs’ product more marketable and grab more users in high volume states.
Churchill Downs President and CEO Bill Mudd confirmed that BetAmerica was not giving them the brand power that they had hope to.
Mudd cited “marketing efficiencies” as the reason for the name change. Mudd stated that TwinSpires will help them “deliver a more complete overall experience to our growing online wagering customer base.”
Slow BetAmerica Growth The Main Reason For TwinSpire Rebrand
Sports betting as a whole has seen huge growth over the past twelve months. However, BetAmerica had struggled to put its best foot forward. The rebranding is a fresh start for CDI as they push to become an industry leader.
2021 will be a crucial year for Churchill Downs who needs to make up for lost time due to the COVID-19 pandemic. Ideally, their gambling platform will give them much needed revenue while their casinos and racecourses reopen as local laws allow.
Moreover, online casino and sports betting products were extremely important to companies in 2020. During the pandemic, companies were able to use their apps to help bridge the gap when casino locations were forced to close.
Undoubtedly, the expectation is that Churchill Downs will invest strong resources into their new gambling platform to increase profitability and customer acquisition.
TwinSpires Hopes To Develop An All-In-One Sportsbook And Horse Racing Powerhouse
Headquartered in Lousiville, Kentucky, Churchill Downs Incorporated has always had roots in horse racing. The Kentucky Derby takes place yearly at Churchill Downs Racecourse.
TwinSpires online is well known for its online horse racing product. They have been in business taking horse racing wagers for over thirteen years. The loyalty that their brand has garnered is something that CDI President hopes will bring their product to prominence.
Mudd said, “Our TwinSpires brand has consistently delivered over 13 years and is associated with more than a century of wagering experience. That history and heritage offers a unique point of difference in a competitive space,”
Furthermore, Churchill Downs’ quarter 3 results show that TwinSpires accounted for a whopping 64% of all online wagers. BetAmerica’s product has not been yielding the results needed compared to TwinSpries horse betting opportunity.
TwinSpires online has developed a strong brand loyalty that they hope to parlay into the sports betting world. Tuesday’s announcement is just the beginning of a new era for Churchill Downs Incorporated.