TheScore Bet is leaving the US market because it has other plans in mind — to focus on gaming in Ontario.
The Penn National Gaming subsidiary announced on Wednesday that it would stop taking bets in four US states where it’s licensed: Colorado, Indiana, Iowa and New Jersey.
So, no Barstool Sportsbook in Ontario?
Benjie Levy, theScore’s president and COO, explained the company’s decision to focus on the Canadian market.
He revealed in the statement that the plan has always been to front both North American markets and make sure the company has one leading brand in each market.
This means the Penn National subsidiary Barstool Sportsbook will focus on the US market and theScore Bet Canada will lead the Great White North. Levy said:
“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.”
While theScore shifts its efforts to Ontario, it will allow its Barstool brand to focus on the US market, where it is already live in 12 states. The operating states include Colorado, Indiana, Iowa and New Jersey.
TheScore Bet users will be able to access their US accounts to withdraw funds and view pending wagers until June 15. After that date, players can only make withdrawals.
Penn National Gaming plans to end all of its subsidiary’s wagering operations in the US by July 1. The NBA and NHL playoffs will be covered and will not suffer an early withdrawal. But after July 1, the operator will issue checks or use ACH transfers to all account holders.
Truth be told, theScore Bet has already made significant progress in building its profile in Ontario and Canada.
Ontario sports betting market share leaders
According to early numbers released on April 19 by Morgan Stanley, theScore Bet took an early lead in the Ontario online sports betting market share.
Stakeholders and industry leaders await the public release of the first sports betting handle and Ontario gaming revenue numbers.
During a webinar for prospective iGaming operators held on Tuesday, Mitchell Davidson, the chief of staff for iGaming Ontario, said that local politics have the government agency’s hands tied for the time being.
TheScore Bet Golf Canada experience
While the Canada gaming industry still awaits public figures, one thing is certain; the timing couldn’t be better for theScore.
The Canadian Open takes place June 9 -12. TheScore Bet Skyline Seats will put attendees high above the tournament action. The seating will fit 22 people, overlooking the first and 18th holes at St. George’s Golf and Country Club in Toronto.
Patrons will have the opportunity to secure Skyline Seat spots by visiting theScore Bet’s on-course activations, including the BET MODE Putting Challenges and theScore Bet Members Lounge.
Toronto will be bustling with people next week. The city will host two major gambling conferences: the Canadian Gaming Summit (CGS) and the SiGMA Americas Summit.