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Online Sportsbook Competition Starting To Heat Up In Ontario Market
Regulated Online Sports betting officially launched in Ontario just a few weeks ago, and we’re already starting to see the big guns separate from the rest. The Score Media and Gaming has taken an early lead in Ontario Sports betting, according to research and reports done by Morgan Stanley.
While they did not look at how much MONEY was spent on the sportsbooks, they did look at how many downloads each available sports betting app received. What became clear is that The Score Sportsbook was a step ahead of the competition, and we got an early glimpse at what we can see in terms of first-quarter sports betting revenue.
The Morgan Stanley report found that TheScore Bet app was responsible for 50% of all sportsbook app downloads since sports betting launched in Ontario. The complete breakdown of sportsbook app downloads is:
- theScore Bet: 50%
- Bet365 Sportsbook: 36%
- Betway Sportsbook: 5%
- BetMGM Sportsbook: 3%
- BetRivers Sportsbook: 3%
- Caesars Sportsbook: 2%
- Sports Interaction: 1%
"Given that not all major U.S. operators are live in the Ontario market yet, for example, DraftKings, we expect to see further dispersion of share over the coming months," Thomas Allen, the Morgan Stanley analyst in charge of the report, wrote. "However, taking first-mover advantage and getting customers on apps early has proven a successful strategy in most U.S. markets so far."
TheScore Bet sportsbook recently signed a 10-year partnership with the Toronto Blue Jays, so they will definitely have tons of advertising in the province in years to come. The Score is owned by Penn National Gaming, which also owns the Barstool Sportsbook.
There’s no doubting the Score’s popularity in Canada, but it really has yet to catch on in the US. TheScore Bet sportsbook is currently available in these states:
Yahoo Financial predicts that theScore Bet has one percent shares (or less) in the US Sports betting market.