As known from:
vingleottawalifecricketworld
  • About the Team at Gamblingguy.com
  • How We Rate At GamblingGuy CA
Contains commercial content
Best Canadian Gambling Sites / News / TheScore Bet Leaves US Market To Focus On Ontario

TheScore Bet Leaves US Market To Focus On Ontario

Lee Holden
Author:
Lee Holden
Publish Date:
16/06/2022
Experiences:
Your goto guy for casino gaming or horse racing

Toronto-based operator TheScore Bet has announced that they will be ending their US operations as of June 15. The company was operating in four states, but will now focus exclusively on the newly-legal and growing Ontario sports betting market. 

TheScore Bet Leaves US Market To Focus On Ontario

A strategic decision from the parent company

Good news for all those who enjoy online gambling in Canada! TheScore Bet was licensed and operating in Colorado, Indiana, Iowa, and New Jersey, but they have announced that they will be ceasing their sports betting operations in the USA. The sportsbook was acquired for $2.1 billion in 2021 by Penn National Gaming, and the move is designed to allow TheScore Bet to focus 100% of their attention on the Ontario market, while another Penn National Gaming brand Barstool Sportsbook takes a firmer grip on the organization’s USA operations. Barstool Sportsbook is already live in all four states TheScore Bet was serving, as well as eight additional states.

The move seems like a natural one given the overarching corporate umbrella that both companies operate under. TheScore Bet is based in Toronto and reportedly thrived in the early stages of legalized sports betting in Ontario. No official statistics have been released, but TheScore Bet’s mobile app was the most popular download in all of Canada in the weeks after the April 4th legal gambling launch and other indicators show they are doing well in the early going. By contrast, they had gained less than 1% share of the Indiana market since their launch there. We could easily see TheScore Bet competing with the best online casino apps in Canada!

In a statement announcing the re–structuring, TheScore Bet President and COO Benjie Levy said “Since Penn’s acquisition of theScore, the company’s plan has been to lead with Barstool Sportsbook in the U.S. and theScore Bet in Canada, given our strong brand equity there. 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 U.S. efforts on marketing Barstool Sportsbook and our Canadian efforts on marketing theScore Bet.”

The logistics of closing operations

The company announced that they would stop taking bets on June 15. For bettors who had already placed wagers for events taking place beyond that date, the company will continue to settle and pay out those wagers until July 1. For longer term futures bets that will not be resolved by July 1, the company plans to reach out to those bettors on an individual basis to resolve the wagers on a case-by-case basis. TheScore bet emailed customers requesting that they withdraw their funds by July 1, and has stated that any customers who have a remaining balance after that date will receive a check for their balance or payment via another method the company has already on file.

Not everything about TheScore Bet is going away. Penn National Gaming stated that they would be integrating the sports media component of their app with the Barstool Sportsbook app. Penn National hopes that by adding the additional functionality it will help strengthen their product and help them to compete in the crowded USA legal sports betting market.

The USA market continues to consolidate

Many companies have tried to get in on the action since legal sports betting began in the USA. As operators secure market share and establish themselves, some operators have decided to fold for various reasons. Churchill Downs recently announced they would be ending sports betting via their TwinSpires brand to focus exclusively on their horse racing business. Caesars and Wynn Bet have also announced that they are scaling down their marketing spend after investing heavily in their initial rush for customers.

Looking for the best places to bet on your favourite sports?

Bet365
1.
87/100
Rating
New Jersey (US)
Bet $1, Get $200
Bet365 Sports Bonus
Bet $1, Get $200
Bet365 Review US
***** Visit Site
T&Cs apply, 21+
Highlights
  • $100 sports welcome bonus
  • Famously competitive sports odds
  • User-friendly sports betting app
Unibet
2.
87/100
Rating
Credit Card
New Jersey (US)
100% up to
$500
Unibet Sports Bonus
100% up to $500
Unibet Review US
***** Visit Site
T&Cs apply, 21+
Highlights
  • Welcome bonus worth up to $100
  • 30,000+ sports bets available
  • Free live streaming for some sports
Read Also
Major League Baseball Inks First Canadian Sports Betting Partnership
Less than three months after the launch of legal sports betting in ...
DraftKings Targets Q2 Launch For Ontario Sportsbook
After over a month of legal sports betting in Ontario, the marketplace ...
TheScore Leads The Way In Early Ontario Sports Betting Statistics
With just over three weeks of legal sports betting being allowed in ...
Toronto Blue Jays Partner With TheScore Bet
The race is on for legal sportsbooks to grab their share of ...
FanDuel and DraftKings Close Down Daily Fantasy Sports In Ontario
FanDuel and DraftKings are slated to launch their online sportsbooks in Ontario ...
Latest News
Paul Burns Inducted Into SBC Sports Betting Hall of Fame
At the recent SBC Gaming Summit, President and ...
FanDuel Expands NFL Partnership to Include Ontario
FanDuel is one of the top sportsbooks in ...
DraftKings Releases US Presidential Election Odds For Canadian Bettors
Betting on the outcome of the USA’s Presidential ...
CFL Commits to Policy Update in Response to Legal Gambling Regulations
As the legal gambling industry in Ontario matures ...
NBA Expands Ontario Presence By Partnering With Ontario Lottery & Gaming ...
As legal sports betting in Ontario continues to ...
All articles on GamblingGuy
Legal notice:
Prerequisite for the use of the website is the completion of 18 years of age as well as compliance with the gaming laws applicable to the respective user.

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Move to Top
×
Your Bonus Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site