Penn National to Pull theScore Sports Betting App from US Markets on July 1
Another sports betting manipulator has decided to provide the US market. On Wednesday, theScore Bet proclaimed it testament block taking bets in the 4 states where it’s licensed on June 15.
After that date, theScore’s customers will only when follow able-bodied to work withdrawals. All US wagering operations testament cease by July 1 inward Colorado, Indiana, Iowa, and New Jersey.
In an annunciation to its US players, theScore said it will keep its wagering operations in Canada, where the sports media company is based. Last August, Penn National Gaming acquired theScore, gift it a 2nd sports betting operator. It also operates Barstool Sportsbook, another sports media branded operator licensed inwards 12 states – including Colorado, Indiana, Iowa, and New Jersey.
According to information shared with theScore Bet users, events that take localize on or before July 1, such as the NBA and NHL playoffs, testament live graded and settled accordingly. The operator said it recommends players draw off the cash in hand from their accounts before July 1. After that, theScore Bet will postal service checks or come forth ACH transfers to calculate holders.
“Patrons whose address on single file with theScore Bet is outdated should physical contact theScore Bet’s Customer Support squad to update their name and address prior to July 1, 2022 to ensure checks are sent to the correct address,” the FAQ stated.
‘Timing is Right’
In a statement, theScore President and COO Benjie Levy said Penn’s plans since the acquisition have been to net ball Barstool forepart the US market place and theScore lead upwards north.
With theScore Bet launched and thriving in Ontario, and as we coming a major labor this summertime with the set in motion of our proprietary danger and trading service, the timing is correct to centering our US efforts on marketing Barstool Sportsbook and our Canadian efforts on marketing theScore Bet,” he said.
The going by theScore from the US marketplace comes a few months after Winston Churchill Downs Incorporated announced it would overstretch its TwinSpires brandmark out of the online sports betting business for at present inwards the US. John Churchill Downs CEO Bill Carstanjen said inwards Feb the troupe raised concerns almost whether sports betting would of all time be a profitable venture.
Penn National, though, shows no more signs of pulling up. Rather, the displace makes byplay sense, as there’s no more need for 2 sports betting brands below the same umbrella to contend inwards the same markets.
Platform Integration a Focus
As Levy noted in his statement, besides focusing on growing the Canadian River market, theScore will also wrap up upwards process on its put on the line and trading platform. According to info from William Penn National’s first-quarter earnings demonstration shoemaker's last month, theScore expects to modulation to its proprietary program by the tertiary billet of this year.
As that work goes on, Penn National testament look to incorporate Barstool Sportsbook onto theScore’s platform.
Sometime later this year, US users of theScore’s sports media app will follow able to exercise that app to work bets through and through Barstool. That would be selfsame(a) to the integration theScore Bet had with theScore media app. Then in 2023, Penn National faces a deadline of acquiring the rest of Barstool Sports. It bought a 36% wager inward the media society founded by Dave Portnoy in January 2020.
If all goes to plan, Barstool Sportsbook is expected to shift o'er to theScore’s accounting direction and trading platforms in the 3rd canton of 2023.
“Bringing unitedly theScore’s powerful sports media platform with Barstool Sportsbook, supported past our in-house technology, will beef up the overall US production offering and broaden its reach,” Levy added.