With just over three weeks of legal sports betting being allowed in Ontario, the first round of statistics show that theScore Bet is the early leader app download share among online sports betting operators currently offering their product in the newly-legal Ontario market.
Ever since the official launch of legal online sports betting in Ontario, operators have been scrambling to secure their share of the market. While announcement of revenue and handle is still unavailable due to the newly-legal status of the industry, app download statistics are starting to pour in and they show which of the best online sportsbooks are leading the way in the early stages of Ontario’s sports betting industry. TheScore Bet leads the way currently, as the statistics show that 35% of all sports betting-related app downloads are going towards the Canadian operator that was recently acquired by Penn National Gaming.
The advantage of being first to market and becoming the early dominant force in the marketplace has proven to be a successful tactic among sports book operators in the United States, and theScore Bet is hoping to replicate that success. The Canadian operator was already popular with Canadian sports bettors with their grey market operation, and with their newly legal status they are looking to maintain their position in the top of a crowded market that still expects more entries from globally recognized brands like DraftKings who have yet to launch Ontario operations.
TheScore Bet’s 35% market share of app downloads leads the way by a large margin. The second-most-downloaded app, bet365, generated a 27% share of gambling app downloads in Canada, and FanDuel came in a distant third place with their 16% market share. Those three operators were the only ones to crack double-digit percentage share, as BetMGM (9%), Betway (4%), PointsBet (3%), BetRivers (2%), and Caesars, 888, and LeoVegas all generated just 1% of app downloads each.
While the marketplace is still very new, with consumer demand still very much in flux, being the early market leader is an enviable position. Analysts from Morgan Stanley who issued the initial reporting on app download share stated “Given that not all major US operators are live in the Ontario market yet (for example DraftKings), we expect to see further share shifts over the coming months. However, taking first mover advantage has proven a successful strategy in most US markets so an early lead is a positive read-through for the top 5 operators which account for 92% of December downloads.”
TheScore Bet is clearly leading the way in-app download numbers, the first reports on actual handle taken in by the various operators will give a clearer picture of who is dominating the market. While FanDuel was a distant third in-app download share, in spite of some early hiccups with their technology they have reported that their early returns in the Ontario market are “fantastic”.
App downloads don’t necessarily translate equally with revenue generated, as some online sports betting sites do not require an app download to begin with, instead of allowing bettors to wager via a browser-based website rather than a dedicated app. In addition, simply downloading an app is not a guarantee that the user will actually make a deposit and place wagers on sporting events. The Ontario sports betting marketplace is still in its infancy, and while theScore Bet has beaten out some other hefty competitors in terms of getting downloads of their app, their true success will be known once the first data on handles and revenue is released.
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