TwinSpires Shuts Down Online Gambling, Paves Way For New Michigan Online Casino

TwinSpires is shutting down its online sports betting and casino platforms. This includes the company’s Michigan sportsbook and online casino site, although it will retain its horse betting offerings. The announcement and subsequent shutdown opens up the opportunity for a new Michigan online casino to join the market. No word yet on which operators will vie for the license, but the Michigan online gambling space is highly competitive. It’s likely a few operators will be gunning for the license to operate in the state.

The news broke in a tweet from Horse Racing Nation:

TwinSpires Tumultuous Online Gambling Journey

TwinSpires online casino began its life as BetAmerica, though the company pivoted to the TwinSpires brand in January of 2021. Across online sports betting and online casino gaming, the company launched in multiple states besides Michigan: New Jersey, Pennsylvania, Indiana, Colorado, Arizona, and Tennessee.

All of these operations will be shut down as TwinSpires steps back to focus on its online horse race betting business.

Multiple factors could’ve contributed to TwinSpires’ downfall. Most likely, the competitive marketplace made the business operations untenable long term. It’s hard for a newcomer to compete with the likes of DraftKings, Caesars, FanDuel, and BetMGM, and the massive ad spends that accompany those industry juggernauts when they enter a market.

New Michigan Online Casino On The Way?

There’s already a new Michigan online casino slated for launch this year. Soaring Eagle Casino is expected to join the fray sometime in 2024, though a specific launch date is unclear.

But Soaring Eagle already has its license, so the exit of TwinSpires from the market means a new Michigan online casino could join the competitive and thriving market. Check back at MichiganSharp for more as we learn about the possible contenders for Michigan’s vacant license.

About the Author

Cole Rush

Cole Rush is a Chicago-based freelance writer in the gambling, media, and entertainment space. His work has been showcased in various gaming industry magazines and online columns. Prior to freelance writing, Cole spent seven years in communications at a gambling and lottery supplier.