Back in March, theScore CEO John Levy told PlayCanada the key to the company’s success was owning its own technology. Fast forward four months and the Toronto-based company has announced it has accomplished just that.
In a press release, theScore Bet announced this week it has, “launched its proprietary risk and trading platform. (It is) the culmination of theScore Bet’s strategy to bring its sportsbook technology in-house.”
theScore Bet is now one of the few — if not the only — Ontario sports betting operator to control three of its most critical platforms.
The company has custom-designed and built the following three departments:
- Risk and Trading platform
- Player Account Management system
- Promotion Engine
In March, Levy said:
“You have to own your own tech stack or at least have the plan to be there at some point because you can’t be beholden to other people. You’ve got to be masters of your own destiny. Otherwise, you can’t reinvent yourself. Every time you reinvent yourself, you have to go back to (the tech providers). And they have other agendas and other customers and other clients.”
What this means for theScore Bet customers
For the Ontario sports bettor, this means theScore Bet’s traders can offer their own custom betting markets to patrons.
One of the early criticisms of theScore Bet is that the app didn’t offer as many betting options as its rivals. That will change. So much so, theScore Bet’s traders will be powering the affiliated Barstool Sportsbook’s betting options in the United States beginning in the third quarter of 2023.
Penn National Gaming owns both theScore Bet and Barstool Sportsbook. Penn National president and CEO Jay Snowden said in a release:
“The completion of theScore Bet’s technology stack is a milestone accomplishment that significantly strengthens our online betting capabilities, mobile product offerings and overall integrated media and betting ecosystem. This vertically integrated platform will increase our ability to engage and retain customers, drive more flexible pricing, provide valuable savings on third party platform costs, and allow us to deliver the most personalized product experience in the market.”
Focusing on its Canadian operation
In the release, Levy said, in part:
“Operating on a system where all components are custom built to work together maximizes our speed and efficiency and supercharges our ability to seamlessly roll out new features, wagering options and innovations. We are extremely excited to introduce this enhanced product to Ontario bettors well ahead of the busy fall season.”
In June, theScore Bet announced it was pulling out of the US to focus on its Ontario sportsbook. That meant turning over theScore Bet’s operations in Colorado, Indiana, Iowa and New Jersey to Barstool Sports. Barstool is now live in 12 states.
In Canada, theScore’s sports information app has long been popular. That helped theScore Bet have a successful launch when Ontario’s market opened on April 4.
According to numbers released on April 19 by Morgan Stanley, theScore Bet took an early lead in the Ontario online sports betting market share.
TheScore accounted for 35% of the Ontario sports betting app downloads since the market opening on April 4.