Caesars Entertainment is looking to capitalize on its omnichannel potential by connecting its Las Vegas cachet with its online betting experience.
Caesars has launched a new universal digital wallet on the Caesars Sportsbook app in Nevada. Users in the state can now manage their funds and Caesars Rewards credits all in one place across the 18 U.S. states plus D.C. in which the company offers mobile sports wagering.
Caesars said in a release that it plans to expand the universal wallet functionality to additional North American markets in the future.
In effect, having a universal digit wallet allows Caesars to connect its renowned brick-and-mortar properties in Vegas with its online brand across the U.S. by providing universal login credentials, and lets Nevada customers use their retail funds across Caesars’ mobile markets throughout the U.S. Registrants from other states can also use the wallet at any in-person Caesars Sportsbook location in Nevada.
Eric Hession, president of Caesars Digital, called the launch “a significant step forward and a long-anticipated enhancement that brings greater convenience and connectivity to our mobile app.”
“With this update, sports bettors who visit Nevada and our world-class destinations on the Las Vegas Strip or beyond can enjoy a consistent experience wherever they go, with their account, funds and rewards all in one place, just as it should be,” added Hession.
The move comes two months after Caesars accepted its first wager at its new retail sportsbook in Oregon.
BetMGM shows what’s possible
Caesars’ introduction of a universal digital wallet in Nevada follows a similar move from another Las Vegas casinio staple, MGM.
Last August, BetMGM became the first licensed sportsbook to provide Silver State gamblers with a single digital wallet that provides nationwide connectivity across its sportsbook and allows bettors to carry their funds to multiple U.S. markets. A few months later, it upgraded the experience again by consolidating rewards points across the country in all states where BetMGM is live.
In February, MGM Resorts International President Bill Hornbuckle credited the single-wallet feature in Nevada as a major reason for BetMGM growing what Hornbuckle called “its omnichannel advantage.” BetMGM’s omnichannel players are three times more valuable than digital-only players, said executives.
MGM leaders noted at the time that during the last football season, BetMGM’s boosted Vegas presence drove a 60% year-over-year increase in Nevada-acquired first-time depositors. Across the U.S., the continued play of active BetMGM users in their home state doubled after they signed up in Nevada.
Hornbuckle suggested the results show that single app, single wallet drives customer stickiness.
