bet365 PA Market Watch: How the App Stacks Up in Other States

bet365 PA Market Watch: How the App Stacks Up in Other States

Analysts watched the bet365 PA market debut earlier this month. The Keystone State’s newest sportsbook will try to stand out among a dozen Pennsylvania sports betting apps.

The company was established 24 years ago in Stoke-on-Trent, UK, but North American customers haven’t always embraced legal sports betting options with overseas roots.

International brands like Betway, 888, Unibet, and PlayUp couldn’t match the success they found back home, so they left (or will leave) the US market. MGM Resorts is circling German-based Tipico Sportsbook for an acquisition. Betfred and ClutchBet have also encountered choppy waters as they approached US shores.

But is bet365 PA in the same boat? A check of sports betting markets in Big Ten country (Iowa, Indiana, Ohio) and ACC country (Louisville, KY, and Virginia) tells us what Pitt and Penn State bettors can expect from bet365 Pennsylvania.

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bet365 PA Leads its British Peers

Yes, DraftKings and FanDuel are the King Kong and Godzilla of North American sports betting. It’s fair to give them their due.

Among sportsbooks with an overseas portfolio, though, the bet365 PA market holds the strongest potential to break through in Pennsylvania and the US. Following its PA debut, the company is now present in 11 states.

At $14.67 billion, bet365 PA hopes to add to US commercial gaming’s 13th straight month of industry growth as of May.

Ohio bet365: Third Place (7.1% share)

bet365 Sportsbook collected about $245.8 million in Ohio bets (“handle”) from January to May 2024. That reflects about 7.1% of the market in the Buckeye State. The app is well behind FanDuel and DraftKings — as is everyone. But, bet365 also leads some “domestic” brands with big names, including BetMGM, ESPN BET, and Caesars in the Ohio market.

FanDuel holds the edge in Ohio, but sometimes DraftKings breaks through for the lead. Ohio sports betting debuted in January 2023, so bet365 started with equal footing as apps jockey for a spot behind FD and DK.

Kentucky bet365: Third Place (7.4% share)

Ohio is a grand old man compared to Kentucky sports betting. The Bluegrass State went live for online sports wagers almost 10 months later — on Sept. 28, 2023.

That helped bet365 KY Sportsbook once again claim a spot ahead of BetMGM, Caesars, and ESPN BET because they were all new on the scene at the same time.

DraftKings is the top 2024 online sports betting site in Kentucky through May, followed by FanDuel. bet365 manages about 7.4% of the 2024 Kentucky market for a distant third position.

Mature Markets Like PA Pose a Greater Challenge for bet365

As the numbers suggest, bet365 does relatively well in newer US markets, but its market share dips in states where legal sports betting has been around for longer periods. The Pennsylvania sports betting market qualifies as mature. Its sportsbooks accepted the first online game wagers in May 2019.

Indiana bet365: Fifth Place (4.5% share)

Indiana shares Pennsylvania’s May 2019 sports betting debut month. However, bet365 arrived in Indiana at the end of January 2024, so using February to June numbers seems fair for a market comparison in the Hoosier State.

BetMGM is solidly third behind DraftKings and FanDuel in Indiana. Caesars takes fourth, but bet365 IN is ahead of ESPN BET for a spot in the top five.

Iowa bet365: Sixth Place (3.7% share)

Five Iowa sportsbooks finished the most recent fiscal year with at least $100 million in accepted bets. bet365 just missed the mark with $97.2 million between July 1, 2023, and June 30, 2024.

That leaves bet365 IA at 3.7% of Iowa’s $2.6 billion industry in FY24. In order, DraftKings, FanDuel, Caesars, BetMGM, and ESPN BET all pulled in bigger numbers.

Iowa sports betting debuted in August 2019.

Virginia bet365: Sixth Place (4.7% share)

The Virginia Lottery Board receives quarterly market share reports, and the group received the latest update on May 1. Virginia is a FanDuel state with about 41% of the market. DraftKings follows with a 27% share.

That leaves BetMGM with 10.8% and Caesars at 6.1% to round out the top four.

ESPN Bet at 5% edges bet365 VA at 4.7% for the last spot in the top five between January and March 2024.

Virginians have enjoyed legal sports betting since January 2021.

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About the Author
Russ Mitchell

Russ Mitchell

Lead Writer
Russ Mitchell joined Gaming Today as a lead writer in February 2023 after joining Catena Media in 2021 as a managing editor for the PlayIA and PlayVA brands. He covers sports betting industry, market developments, the college sports betting industry, and the four major North American pro sports leagues. He brings 25+ years of journalism experience to Gaming Today. He is a five-time winner of the Iowa’s prestigious Harrison “Skip” Weber Investigative Reporting award, a two-time National Newspaper Association award winner and a 50-time Iowa Newspaper Association award winner.

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