Pennsylvania’s sports betting and online casino markets are home to another betting app, with bet365 announcing that it’s live in the Keystone State as of Monday. Bet365 is partnered with Presque Isle Downs Casino in Erie.
The sports betting operator joins a Pennsylvania betting market that features the major names in U.S. sports betting, including BetMGM, Caesars Sportsbook, DraftKings, ESPN BET, Fanatics Sportsbook, and FanDuel.
As for bet365, the UK-based betting operator is now live in 11 states:
“With a venerable history saturated with numerous championships, intense rivalries, and legendary athletes, Pennsylvania’s sports passion is undeniably Never Ordinary,” a bet365 spokesperson said in a press release. “We enthusiastically welcome new and eligible bettors from Philadelphia, Pittsburgh, and the entire Keystone State as they join the bet365 experience, which features market leading offerings like amazing Bet Boosts, the fastest In-Game product, and unique Same Game Parlays.”
New sports betting customers who sign up with bet365 can take part in a “bet $5, receive $150 in bonus bets” promotion offered by the operator.
Bet365 Grows U.S. Presence
The sports betting app has done well in Ohio, ranking third in handle and revenue in May. Only FanDuel and DraftKings outperformed bet365.
Can bet365 find similar success in Pennsylvania? The state’s tax rate of 36% is among the highest in the country, a potential challenge to finding success in the state. Bet365 also wasn’t a late entrant into Ohio’s sports betting market, joining the state on the same day other major operators launched. Major operators have more of a foothold in Pennsylvania.
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Even with challenges, bet365 seems confident about expanding its national presence at a time when other operators are struggling. Betway and SuperBook are both exiting the U.S. online sports betting market, as they struggled to compete with DraftKings and FanDuel. Betfred is leaving Maryland and Ohio in the near future.
Even ESPN BET has struggled since teaming up with PENN Entertainment. The sports betting app hasn’t grabbed significant market share compared to DraftKings and FanDuel, and PENN recently laid off employees about a month before the start of the 2024 college football season.
With a strong track record in the U.K., bet365 hopes it can buck the trend of operators struggling to compete with major U.S. operators.