Circa Sports, the renowned sportsbook operator, recently celebrated the inauguration of its first retail sportsbook in Illinois. Established in the heart of Vegas, Circa Sports has gained acclaim over the years for its inclusive strategy, welcoming even the sharpest punters that other competitors tend to decline or limit.
This reputation has helped cement Circa Sports’ position as one of the most recognized sports betting brands in Vegas, a feat that isn’t easy to achieve considering the size of the betting market in Vegas. However, with its great standing in Vegas, Circa Sports hasn’t rushed into expanding for the sake of competition or reach.
Instead, the brand has adopted a thoughtful and strategic approach, carefully assessing each possible market entry. Circa’s presence in Las Vegas isn’t confined to just one location; it extends to other celebrated casino resorts such as the D and Golden Gate casinos, both nestled in the vibrant downtown area.
Additionally, Circa Sports’ influence touches Henderson, with sportsbooks at the Tuscany Suites & Casino and the Pass Casino. This presence in various parts of Las Vegas has ensured that punters across Las Vegas have easy access to the Circa Sports experience. Circa Sports first debuted operations in 2019 and now houses more than 5 locations in Southern Nevada, including the world’s biggest sportsbook inside Circa Resort.
Circa Sports is maintained by casino owner and well-known developer Derek Stevens. According to Stevens, the Circa brand is looking to break a new path in the country’s gambling sector by combining a business approach with some of the most popular odds makers.
What we cover
Circa Sports’ mobile expansion
Beyond the glitz of Vegas, Circa Sports finally announced that it would be embarking on a digital journey. Circa launched its mobile sports betting app in Colorado in July 2020. This expansion was facilitated by Circa’s 15-year agreement with Century Casinos. This agreement included a market access fee, a share of the net gambling profits, as well as a minimum revenue guarantee payable to Century each year.
Colorado was Circa’s first venture outside the confined of Vegas. However, it quickly expanded its reach in Iowa as a result of a strategic deal with Wild Rose Casino and Resort. Iowa was the first Midwest market for Circa and the 3rd state of operations for the sports betting app after establishing a strong presence in Nevada and Colorado.
Recent expansion into Illinois
Circa announced last year that it had secured market access to the sports betting market in Illinois thanks to a partnership with Full House. As a result of this deal, Circa will operate a brick-and-mortar sportsbook at Full House’s American Place Resort, which has been under construction for a while now in Waukegan.
Before the temporary casino is completed, Circa will operate an online and mobile sportsbook on the Full House license. Illinois now marks the 4th state in which Circa Sports has a presence. The operator intends to utilize IGT Technology, as opposed to the Stadium Technology that the platform has been using in both Colorado and Iowa.
Like Circa’s sports apps and sportsbooks in Nevada, Circa Sports in Illinois will also feature creative prop wagers, higher and fairer gambling limits, as well as lower holds on future markets compared to competitors’ sportsbooks and sports betting apps.
The Circa Sports Illinois app also allows punters in Illinois to browse a comprehensive odds menu, as well as live odds. Circa boasts the highest limits and lowest hold percentages compared to any other similar offering in the state, a unique selling point that is sure to attract users.
To gain market access to Illinois, Circa has to part with a $5 million market access fee repaid over the 8 years of the deal. Circa Sports will also pay Full House a minimum of $5 million each year in revenue share after the online casino product has been debuted. Circa also has the option of 2 extra 4-year extension deals on the partnership.
Can Circa Sports crack the Illinois sports betting market?
Circa has now joined an elite and extremely competitive market in Illinois. Some of the big-name brands that Circa Sports is up against in the state include:
- FanDuel
- Caesars Sportsbook
- BetMGM
- DraftKings
- Barstool Sportsbook
- PointsBet
- BetRivers
Since Illinois legalized its sports betting market, the revenue numbers have grown steadily. For instance, July 2023 marked yet another milestone as the state became the 3rd in the country to surpass the $2 billion threshold adjusted growth income. Another achievement was marked in August 2023 when the state surpassed $25 million in combined handle after reporting just a little over $675 million for the month.
Usually, August is a notoriously slow month for sports betting operators as gamblers only have access to pre-season games to wager on. September, with the kickoff of the NFL regular season, typically sees a surge that is sure to boost Illinois’ revenue even higher.
In addition to all the existing competition, more might soon be on the way. Not too long ago, Mexican sportsbook Caliente announced that it was considering vying for one of the $20 million iGaming only licenses in Illinois.
As the landscape of legal sports wagering in the country keeps expanding, Circa Sports’ thorough approach stands out. The company’s owner, Derek Stevens, emphasized the importance of strategic assessment when considering entry into new markets. Tax policies in the different states are one of the major considerations that Circa Sports makes before entering a new market.
States such as Pennsylvania and New York, though extremely profitable, are known for imposing high tax rates on sports betting. By carefully assessing its expansion strategy, Circa Sports ensures that it only makes expansion moves that will benefit the company long term.
Final Thoughts
As Circa Sports continues its journey, embracing the possibility of expanding into new territories and captivating bettors with its innovative offerings, the brand has set a standard for thoughtful expansion, where each move is calculated, and every step taken with precision. As Circa Sports unfolds its wings in Illinois, it brings not just betting opportunities but also a seamless blend of entertainment, sportsmanship, and unforgettable experiences.
