Two reports indicate that this is a solid launch for theScore Bet in the Ontario sports betting market.
A report by Barclays Equity Research indicates that theScore Bet and bet365 tied for the most sports app downloads in Ontario in the first 10 days of the full launch of single-match sports betting in the province. Meanwhile, another from Morgan Stanley had theScore solidly ahead in app downloads according to data through Tuesday.
Single-match sports betting has been legal in Canada since last summer, but the industry didn’t open in Ontario until April 4.
The Barclays report indicates that theScore Bet and bet365 both saw 24% of downloads in the first 10 days of launch. FanDuel third was 20% while BetMGM fourth was 11%.
The report noted that DraftKings was not yet launched.
TheScore Bet is a subsidiary of Penn National Gaming, Inc., headquartered in Toronto.
The four main operators listed in the Barclays report represented 79% of downloads. The report listed 888 (six percent) in fifth place, just ahead of Betway (five percent). Others have combined for the remaining 10%.
Morgan Stanley theScoreBet registered with a share of 35%, followed by bet365 (27%), FanDuel (16%), BetMGM (9%), Betway (4%), and PointsBet BetRivers (3, 2%). ) And CZR, 888 and LeoVegas (one percent each). The report says that the share Download theScore Bet peaked at 65% on 4 April, but has recently stabilized at 18%.
In comparison, Bet365’s share has risen from 14% on April 4 to 30% in the past five days. Stanley Morgan added that since not all major US carriers are live in Ontario, further share changes are expected in the coming months.
The April 4 launch means Ontarians can now wager on casino games, sporting events and other gaming activities through online websites and smartphone apps from registered operators to conduct market activities regulated by the province. However, many bettors in the province have been active for years in the so-called “grey market”, with their bets going overseas.
Now, however, the industry is regulated and the Ontario government will receive revenue.
This report from The Canadian Press was first published on April 21, 2022.
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