Pennsylvania's already competitive sports betting market just became even more crowded.
Churchill Downs Incorporated announced Tuesday that it has signed into a multi-year agreement with bet365, which will launch its retail and online sportsbooks in the Keystone State soon. The world-renowned sports betting site will operate out of Presque Isle Downs & Casino.
“We are pleased to partner with a global leader in the online gaming industry,” Bill Carstanjen, CEO of CDI, said in a statement. “Our relationship with bet365 enables us to maximize the value of our company’s sports betting and iGaming market access in Pennsylvania.”
bet365 has established itself as one of the most popular sports betting sites in the world, and is sure to eat into the market share of the top sportsbooks in the Pennsylvania sports betting landscape. And that pie is a big one: Pennsylvania sportsbooks generated nearly $790 million in handle in November 2022, the second-biggest month in state history.
"Off the heels of our launch in Ohio, we are thrilled to announce our partnership with Churchill Downs Incorporated,” a bet365 spokesperson said in a statement. “Once live, the world’s favorite online sports betting brand will be available to sports fans in Pennsylvania, offering fantastic site features ... on top of our market-leading sign-up offer."
Tuesday's announcement comes on the heels of another big move by bet365, which announced late in 2022 that it will offer New Jersey sports betting enthusiasts the first non-tournament esports competitive gaming products via a deal with SIS Limited.
bet365 is the world’s largest online sports betting company, with annual sportsbook revenues of almost $4 billion and more than 6,000 employees around the globe.