BlueBet exits Indiana after scrapping market-access deal 

ClutchBet parent company BlueBet has left the Indiana sports betting market after mutually terminating its market-access agreement with Horseshoe Hammond casino.  

The deal was scrapped effective June 30, 2024, just over two years after the operator first reached the agreement to enter the Hoosier State.  

Following the confirmation of its merger with Australian operator Betr in April, BlueBet underwent a strategic review into its US operations.  

This led to the company focusing its immediate efforts on B2C markets in Iowa, Colorado, and Louisiana — where it runs the ClutchBet brand — as well as continuing the rollout of its B2B sportsbook-as-a-solution offer.  

BlueBet first entered the Iowa market in July 2021 via a skin agreement with Dubuque Racing Association, while expansion into both Colorado and Louisiana followed later in 2023. 

The firm has also decided to put a greater focus on the Australia market after completing the Betr merger, which fully completed today (July 1). 

The integration of the BlueBet and Betr business is expected to complete prior to the Australian Spring Racing Carnival, which is due to be held on November 9.

Betr CEO Andrew Menz is set to become the CEO of the combined business, which will still be known as BlueBet, while BlueBet CEO Bill Richmond will serve as COO.

Menz is due to be paid A$600,000 ($399,084) per year for his services while he will be subject to a 12-month notice period and a 12-month non-compete clause.

A BlueBet statement said: “BlueBet remains committed to maximizing value for shareholders.  

“The company believes focusing its efforts on and capital on its outperforming Australian business, while continuing to scale in the US with its ‘Capital Lite’ market entry strategy, will deliver the best returns on capital.”