Toronto-based Score Media and Gaming, has made significant inroads in the U.S. sports betting market with theScore Bet app. TheScore Bet is currently live in New Jersey, Indiana, and Colorado, with more states coming soon.
Following a market access deal with Twin River Worldwide Holdings, TheScore was able to gain access for its online casino in New Jersey.
Recently, the Canadian company announced a new feature on the mobile sportsbook called Bet Section. The new betting features will have a dedicated section within theScore Bet app. Bet Section will allow users to receive live bet tracking, tailored and prioritized betting markets, and exclusive promotions. The Bet Section features will make it easier for users to create slips, follow the action, and receive their cash and offers.
“We launched theScore Bet on the idea that sports betting should be a natural extension of how fans consume sports, not simply an isolated transaction,” said John Levy, founder, and CEO of theScore. “With the launch of Bet Section, we’re furthering that mission by creating a unique cross-platform experience, streamlining and personalizing the betting process for users as they interact with the app. It’s intuitive, seamless, and reinforces our market-leading approach of combing media with gaming.”
What we cover
New Features on theScore Bet Section
Key features of the Bet section include:
- The Bet Section provides personalized markets, providing the most relevant available markets based on the fans’ favorite leagues and teams.
- Once a bet is placed, the app will be tracked live, so the bets can be followed by the bettor within theScore’s sports betting app.
- Bettors will also be offered personalized and exclusive promotions.
- Bettors will be able to see how picks are polling with other app users. They can then use those results to build a bet slip.
Launching Across the US
In September 2019, TheScore launched its sports betting in New Jersey through Monmouth Park Racetrack. In August 2020, theScore signed a market access deal with Twin River Worldwide Holdings for its online casino in New Jersey.
TheScore Bet mobile sports betting launched in Indiana in September. Indiana was the first state that sports betting app launched in under the multistate market access agreement with Penn National Gaming.
“The Indiana launch comes just a few weeks after we introduced theScore Bet in Colorado. It’s a huge testament to our multi-state infrastructure, best-in-class technology, and product development team supporting our ongoing expansion,” commented John Levy, Founder, and CEO of theScore.
Also in September, TheScore Bet launched in Colorado, gaining market access in that state through a partnership with a subsidiary of Jacobs Entertainment Inc.
TheScore Feels the Impact of COVID-19
While the company has made great strides in the US sports betting and iGaming market, like other sportsbooks, the shutdown of major league sports hit the company in the bottom line.
Despite the continued shutdown of major league sports during Q4 F2020, the app had, on average, 3 million monthly active users on both Android and iOS during the period, which is on average 83% of monthly active users for the same period last year.
Moreover, across the company’s esports’ platforms, a new quarterly record of 292 million total video views was achieved in Q4 F2020, year-over-year growth of 243%. Also, TheScore added 112,000 YouTube subscribers during the period, with now more than 1.5 million subscribers. Also, the company’s TikTok account added more than 640,000 new followers during the quarter, for a total of more than 1 million followers.
However, total revenue for Q4 F2020 was only $2.5 million compared to $6.4 million for Q4 2019. The total revenue for the 12 months ending August 31, 2020, was $20.7 million compared to $31.1 million for the same period last year. The decline in revenue for the period is the direct impact of the shutdown of major league sports prompted by the COVID-19 pandemic.
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