“We’re delighted to work with the NBA to create new and exciting sports betting experiences for basketball fans,” said John Levy, Founder and CEO of theScore. “This collaboration will help us enhance our offering as we work to provide theScore’s highly engaged media app users a best-in-class integrated betting experience.”
theScore Bet is the first mobile sportsbook to be created and launched by a media company in North America and was the first mobile-based sportsbook that could support both iOS and Android. Their model was followed by Fox Sports in their creation of Fox Bet, and is sure to be copied again as companies realize the value of combining media and betting platforms. The app allows users to get both traditional sports media content and mobile betting options in the same place.
Currently, theScore Bet is only available in New Jersey and it is a relatively small player in that enormous market. theScore betting app currently has about 4.3 million users that took in just $8 million in total handle during the first three months of operation. That in a state whose handle was an incredible $1.5 billion over that time.
BetStars which is now Fox Bet, FanDuel, Tabcorp (the official betting partner for Australia), William Hill, Unibet and FanDuel's direct competitor as Official Betting Partners of the NBA. There is certainly a lot of competition in the NBA world but hopes at Score Media and Gaming are that their marriage of media and betting will set them apart.
The league has been proactive in rooting out unauthorized use of their official data. Sportsbooks got the NBA's message about their desires quickly and now there is a slew of sportsbooks offering authorized league data and partnership deals with the NBA.
Better times for theScore ahead
theScore has struggled even in New Jersey where the legalized sports betting climate has been unstoppable since its inception. theScore is betting on their alignment with the NBA acting as a catalyst to turn things around. Revenues for Quarter 1 which ended November 30 came in at $9.2 million Canadian, which is a drop of $300 from last year over the same three-month span. Gross gaming revenues during Q1 were $242k Canadian with a net loss of $26k Canadian because of the costs of launching their app in New Jersey. Expansion costs money.
There is definitely some work to do in order for theScore to be considered a serious player in the sports gambling space. But even with underwhelming revenues trickling in, its future expansion plans in Indiana and other untapped markets in the US, theScore should become more prominent going forward, thanks partly to its newly formed relationship with the NBA.