New Jersey sports gamblers who use theScore Bet app received an unexpected email this week.
In a matter of weeks, the Toronto-based company will no longer be part of the US online sports betting business. This means New Jersey, Colorado, Indiana and Iowa will be impacted.
Here is a snippet from an email:
“We are writing to inform you that theScore Bet will be discontinuing its online sports betting operations in the United States (New Jersey, Colorado, Indiana and Iowa) on Friday, July 1, 2022. theScore Bet will continue to operate in Ontario, Canada.
We sincerely thank you for being a customer of theScore Bet and look forward to continuing to service you until we discontinue our U.S. operations on July 1, 2022.“
But is anybody really surprised by this news?
Remember Penn National Gaming acquired Score Media and Gaming Inc. last fall for approximately $2 billion in cash and stock. Penn also operates the extremely popular Barstool Sportsbook app.
And with the Barstool brand having a much bigger US following, it seems like it was only a matter of time before this announcement was made.
Here is a closer look at why theScore Bet ending US operations makes sense and what NJ gamblers should know about their accounts.
Why theScore Bet ending US operations makes sense
Believe it or not, New Jersey, not Canada, is where theScore Bet app launched.
The debut took place in 2019 via a land-based partnership with Monmouth Park.
However, how much do you hear theScore Bet app mentioned in an NJ sports betting conversation?
And do you ever see commercials?
The reality is that theScore has yet to take off, especially here in the Garden State.
It’s hard to pinpoint exactly how theScore Bet is performing as the New Jersey Division of Gaming Enforcement does not break down monthly revenue figures by brands.
However, PlayNJ analysts estimate that theScore Bet accounts for likely 0.5% of the market.
The success of Barstool Sportsbook, on the other hand, is easier to notice.
Since launching in late August 2021, Freehold Raceway’s monthly sports betting revenue figures have skyrocketed.
Through April 2022, Freehold has reported $6.3 million in NJ sports betting revenue. Looking over the same period from 2021, the grand total came in at $410,729.
The difference in the first four months of 2021 only included a Parx-branded retail sportsbook.
As a side note, PlayUp Sportsbook and betParx are the other apps under the Freehold License. Both launched following Barstool’s debut.
What NJ account holders should know
The email to theScore Bet customers also included several important dates.
On Wednesday, June 15, New Jersey sports bettors will no longer be able to make deposits or wager via the app. And from that point, only withdrawal transactions will be permitted.
Starting on Thursday, June 16, theScore Bet will begin assisting users with the withdrawal process.
The email also notes that physical checks will be sent to the patron address on file for those who do not qualify for any other withdrawal methods.
A message also appears when opening theScore Bet app.
And once Friday, July 1 arrives, theScore Bet will officially move to the NJ sports betting sidelines with Resorts Sportsbook and 888sport.
Customer service support remains available to answer any questions. Account holders can call (855)-550-1238 or email [email protected].
This ends theScore Bet Casino waiting game
There will be a couple of openings in the NJ betting market as a result of theScore ceasing US operations.
The first is Monmouth Park now has an opening for a third sports betting skin. Caesars Sportsbook and SugarHouse hold the other two spots.
The brands targeted for a 2022 launch already have market access deals lined up.
However, it doesn’t mean other companies looking to grab a piece of the NJ sports betting pie can’t jump at this opportunity. PlayNJ will continue monitoring the situation.
Of course, some might forget about theScore plans for launching an NJ online casino app. The company even had a market access deal with Bally’s Atlantic City.
This means Bally’s currently has two open slots (the others are filled by PointsBet, Virgin and Bally’s online casinos).