Ahead of its potential launch in Kentucky later this year, Bet365 continues its rise in the US sports betting market.
Bet365 has gotten more US downloads than both Caesars Sportsbook and Barstool Sportsbook in recent months, according to Sensor Power Data. What makes that more impressive is that fact that, until this month, Bet365 was live in just four states, compared to Caesars (17) and Barstool (16).
Bet365 added its fifth US state when it launched in Iowa earlier this month. Given the nature of the expected Kentucky sports betting market (low cost of entry, wide-open competition behind top three apps, non-traditional sports landscape), PlayKentucky is confident in saying there will be a Bet365 Kentucky app when the industry launches.
That industry is expected to launch some time around football season.
There’s good reason for the Bet365 ascension
It’s important to note that most of Bet365’s download activity is coming from Ohio. In that state, the United Kingdom-based sportsbook looking to expand in the US has accounted for almost 11% of the promo spend in Ohio since it launched Jan. 1.
However, Bet365 is backing up its high promo spend with a high-quality product. In proprietary testing from independent gaming research firm Eilers & Krejcik Gaming, Bet365 ranks as the fourth-most popular app in the US — ahead of Caesars Sportsbook and Barstool Sportsbook.
Currently, Bet365 is legal and live in Iowa, Ohio, Colorado, Virginia and New Jersey. It’s performing particularly well in Ohio, where its 7.3% market share is the fourth-largest — ahead of Caesars Sportsbook and Barstool Sportsbook.
Turning UK dominance to US expansion
Bet365 has long been a market leader in the United Kingdom sports wagering industry. Now, it’s committed to expanding its footprint across the Atlantic Ocean to the US. It first launched in New Jersey in August 2019, then in Colorado in September 2022. The Ohio launch came on Jan. 1 this year, then Virginia in late January and now Iowa in June.
Surely, Kentucky won’t be the only other state for a Bet365 launch in 2023. We could see the app launch in as many as three — or maybe more — states throughout the rest of 2023.