TheScore Off to a Good Start in Ontario Market
Published: April 27, 2022
The latest research by Morgan Stanley revealed that theScore‘s sportsbook application was the most downloaded sports betting application in Ontario following the launch of the newly regulated market on April 4.
According to the data provided by the bank‘s research, theScore‘s app accounts for 50% of all sports betting apps downloaded in Canada‘s most populous province.
TheScore‘s download share peaked on April 4, reaching a staggering 79%, with the decline coming two weeks later on April 16, with a share of 30%. Bet365 started the new market‘s launch with a share of 17%, increasing to 50% on April 16.
Although this data doesn‘t show the operators‘ revenue generated over this period, it offers an insight into the potential market share of the companies currently doing business in Ontario.
The data also shows the effectiveness of theScore‘s marketing strategy in Canada. The operator headquartered in Toronto was among the first to offer its services in the new market.
Commenting on the research, Thomas Allen, an analyst at Morgan Stanley, said:
We now have roughly two weeks of Canada download data since the regulated market opened. TheScore betting app has taken a very strong lead. Given that not all major US operators are live in the Ontario market yet, for example DraftKings, we expect to see further dispersion of share over the coming months. However, taking first-mover advantage and getting customers on apps early has proven a successful strategy in most US markets so far.
Although theScore launched its sports application back in 2005, the turning point for the company was the legalization of this activity in the US in 2018. That’s when it launched a sportsbook and a mobile casino.
The following year, the online casino hit the market, quickly becoming the leader in the segment. Penn National Gaming bought it in 2021 in a deal whose goal was further to increase the company’s footprint in North America.