TheScore Bet is looking to score big in Colorado.
The online sportsbook, owned by Score Media and Gaming in Toronto, Canada, is the latest to gain entry into the Colorado sports betting market. Last week, theScore received approval from the Colorado Division of Gaming to offer its online sports betting service to CO customers.
The plan is to launch the app before the start of the Denver Broncos and NFL season.
The sportsbook went live in New Jersey in September 2019. With plans to expand across the US, Colorado is the next step along that path.
If the first two months are any indication, it’s a great time to get into the Colorado sports betting market, as the $25.6 million handle for May and $38.1 million handle for June are strong indicators.
If the state can launch a successful sports betting market amid the COVID-19 pandemic and without major sports, the expectations are higher as major US sports are back.
In light of the news, PlayColorado did a Q-and-A with John Levy, founder and CEO of theScore. We asked Levy about the sportsbook’s entry into Colorado and what the future holds in this three-month-old market.
TheScore Colorado launch
PlayCO: Why make Colorado the next market to enter?
Levy: Colorado is home to a passionate fanbase and some of the most iconic and recognized professional and collegiate sports teams in North America. We share their passion for sports and treat wagering as a natural part of the fan experience. Ever since we gained market access to Colorado through our licensing agreement with Jacobs Entertainment, we’ve been eager to introduce our uniquely integrated media and gaming experience to fans in the Centennial State. We can’t wait to get started there later this month.
PlayCO: Are there plans for a retail sportsbook?
Levy: Not currently. Our immediate focus is on introducing as many sports fans as possible to our industry-leading, mobile betting product, theScore Bet, with a heavy concentration on providing a seamless and intuitive betting experience for users of our highly popular sports media app, theScore. We have a large and highly engaged audience of sports fans that are waiting for us in Colorado and we can’t wait to deliver for them, and all other mobile sports bettors, a best-in-class sports betting app.
PlayCO: How can theScore’s success in New Jersey translate to Colorado?
Levy: Our unique approach in seamlessly integrating sports media with sports betting is completely transferable. We have a large and engaged mobile app audience on our sports scores and news app that spans every single US state, including a very robust user base in Colorado. We have years of experience in delivering mobile scores and news in a highly engaging and authentic manner, and we’ve learned a ton from our launch state of New Jersey about how to provide an amazing sports betting experience that best caters to fans.
As an example, we wanted to offer a widely accessible and easy to understand promotion to celebrate the recent return of sports. This resulted in our ‘Sports Are Back’ cash-back promotional offering, allowing users to unlock real cash as they play — 5%, up to $2,500 cash back, win, lose or draw. We look forward to applying all of our learnings to bring an even further enhanced and market-leading betting experience to Colorado.
PlayCO: What is the timeline for the other multi-state rollout?
Levy: In addition to Colorado, we also remain on track to launch theScore Bet in Indiana this summer, subject to receiving all regulatory approvals. Through our licensing agreements with Penn National Gaming, Jacobs Entertainment and Monmouth Park, we have potential market access for mobile sports betting with approximately 30% of the US population and look forward to entering these new markets as state regulations permit, while also continuing to explore other market-access opportunities of strategic value.