- Penn National is shutting down all theScore Bet operations in the US and converting them into Barstool Sportsbooks.
- TheScore Bet will focus on its dominating market share in Canada.
TORONTO – Penn National has announced that all theScore Bet products will be shut down in the US come July 1, 2022. All sportsbooks will be converted into Barstool Sportsbooks, another Penn National product.
What will happen going forward is that theScore Bet will focus on the Canadian market. Score Media, the parent company of theScore Bet was founded in Ontario and has its headquarters in Toronto.
With the early success that theScore has seen in Ontario since mobile betting launched, it is projected that theScore could be the biggest sportsbook in the Loyalist Province.
TheScore Claims Canada
The Ontario sports betting market has gotten off to a strong start since going live and one of the main reasons for that is theScore Bet.
According to the official Penn National 2022 earnings call, theScore holds the largest market share in Ontario.
As the number one sports betting app in Ontario, theScore has outpaced juggernauts like the BetMGM, BetRivers, and PointsBet who hold a much larger presence in the US market compared to theScore Bet. In fact, over 50% of all sports betting downloads came from theScore Bet in Ontario compared to just 3% for the likes of BetMGM; a clear indication as to how much larger theScore Bet is in Canada.
Comparatively, in the US theScore was only active in Colorado, Indiana, Iowa, and New Jersey and was far from the top sportsbook in any of these markets.
Penn National likely viewed this clear discrepancy and determined that fully committing to the Ontario market was the best choice for theScore moving forward.
How Big Can TheScore Be In Canada
To be noted, the biggest US sportsbooks in DraftKings and FanDuel have yet to launch their respective sportsbooks in Ontario, which will likely be major competition for theScore. Even so, whenever these operators go live, theScore could still hold the largest Ontario market share.
Being a hometown sportsbook, Score Media understands Ontario much more so than its competition. Prior to launching a sportsbook, Score Media hosted a popular sports media app that was already big in Canada.
This brand recognition is likely the driving force behind the legal sports betting market embracing theScore Bet so heavily. All other sportsbooks will have a lot of catching up to do if they hope to dethrone theScore in Ontario.
Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.