- theScore Bet is pulling their app from all four US states by July 1
- Move will make Ontario, Canada the only market where theScore Bet operates
- theScore Bet and Barstool Sportsbook will continue tech and marketing partnership under Penn National Gaming
As theScore Bet continues to hold the top spot in the Ontario sports betting market, the Toronto-based sportsbook app has decided to pull their product from all four US locations.
Owned by Penn National Gaming, theScore Bet delivered a message to users on Wednesday that they will cease all US operations by July 1, 2022. The highly popular sports betting app will now operate exclusively in Ontario, focusing on an emerging market where they’re already dominating market share.
theScore Bet Leaving US Market by July 1
Starting June 15 and continuing through until Canada Day on July 1, theScore Bet will no longer operate in the US sports betting market. Any customers who are currently using theScore Bet are able to make withdrawals up until that July 1 date, however, the sports betting app will stop accepting new wagers as of June 15.
All four of these states where theScore Bet has been operating will no longer have access to the mobile betting app:
- New Jersey
As a sportsbook that’s owned by Penn National Gaming, this decision has likely been made to eliminate any redundancies. Penn National Gaming also owns Barstool Sportsbook, which is already operational in all four of the above states.
Any wagers settled prior to July 1 will be honoured, which leaves time for any bets on the NBA and NHL playoffs to be resolved in time. With the latest move, theScore Bet will turn their attention exclusively to Ontario, Canada.
theScore Bet Canada Dominating Ontario Sports Betting Scene
After launching their sports betting app in Ontario on April 4, theScore Bet Canada has already become the most popular wagering platform in the country’s most populous province. Their betting app has held a top spot on the download charts since the April launch date, and sports bettors are clearly enjoying everything theScore Bet has to offer.
Update: Morgan Stanley issued significant data revisions on April 20th after not including relevant FanDuel data in their initial report.
Corrected rankings are:
1. theScore Bet: 35%
2. Bet365: 27%
3. FanDuel: 16%
4. BetMGM: 9%
5. Betway: 4%
6. PointsBet: 3%
7. BetRivers: 2% https://t.co/6GMFFcj3aN
— Roundhill Investments (@roundhill) April 22, 2022
According to a report from Morgan Stanley, theScore Bet held 35% of all betting app downloads two weeks after the iGaming market officially went live. It’s likely that theScore Bet wasn’t seeing similar results in the four US states they’re withdrawing from. Instead, theScore Bet will now focus on holding their market share advantage in the Great White North.
Tech Deal Between theScore, Barstool Sportsbook Continues
An official statement elaborated further on how this move will impact the relationship between theScore Bet and Barstool Sportsbook under the Penn National Gaming umbrella.
President and COO of theScore Benjie Levy had this to say, “With theScore Bet launched and thriving in Ontario, and as we approach a major undertaking this summer with the launch of our proprietary risk and trading service, the timing is right to focus our US efforts on marketing Barstool Sportsbook and our Canadian efforts on marketing theScore Bet.”
After acquiring theScore Bet in a $2 billion deal back in August 2021, Penn National Gaming is leveraging proprietary technology to help Barstool Sportsbook migrate to its own inhouse betting platform. The move is expected to help the relationship between the two companies, especially as they begin to carve out their own markets, with Barstool Sportsbook focusing on the US, and theScore Bet turning their attention to Canadian sports bettors.
While the two operators look to be moving in two different directions geographically, they’re expected to continue to support each other through tech and marketing initiatives.