bet365 is one of the most recognisable gambling brands in the world. Whether it’s for football, horse racing, boxing or live casino games – if you’re betting in Europe, you know the name bet365. Set up in 2001 as a forward-thinking company that was ahead of its time, its founder saw a new frontier in the world of gambling.
It saw that the future of sports betting and online casinos wasn’t in shop fronts and on casino floors but on the internet. Over the years the company made a series of shrewd moves that turned it into the giant that we know today.
Origins
bet365 is the biggest online gambling company in the world. Founded and still privately owned by British billionaire, Denis Coates. She remains the majority shareholder and joint CEO alongside her brother, John Coates. bet365 brings in an average of $2 billion in revenue and facilitates over $40 billion in yearly bets.
They offer both sports betting and online casino games with live dealers. They have the infrastructure, the finances and the reputation to be amongst the major players in the burgeoning US online gambling market – the question is, why haven’t they taken advantage of this?
Even during the pandemic where a lot of sports and racing events were cancelled, bet365 continued to excel with there earnings and forecasts show no sign of these slowing down.
US Market Activity
There are a host of big names in the US gambling market today, Caesars, DraftKings and FanDuel, to name a few. All three are companies that bet365 has the ability to challenge and in a booming market, you can’t imagine it will be too long before they try to do so.
bet365 has been quiet in the US so far, having only gone live in 2 states. After the US Supreme Court ruling of 2018, bet365 announced its plans to launch in the US. Beginning with the Garden State, New Jersey in partnership with the Hard Rock Hotel and Casino in Atlantic City.
What Followed
Later in September 2021, it was announced the company would launch in Colorado with a licensing and share deal with century casinos. In April 2022, bet365 opened up shop in Ontario, Canada, following the passing of a new Canadian law that saw single-game betting legalized.
On September 6, 2022, bet365 Colorado finally launched their app and website in The Centennial State. bet365 also had its license approved to set up shop in Virginia so expect more news to follow on that in the new year. They are expected to go live in Ohio on January 1, 2023, with the company already having conditional approval to launch both its sports betting app and website.
bet365 already has a strategic business partnership with Ohio state MLB team, the Cleveland Guardians – something which will greatly enhance their reputation in the state and inspire confidence from new customers in the company. It appears as though the company is laying the groundwork to make a push.
The Next Chapter
bet365 have already started promoting sign-up offers for new customers in the state of Ohio ahead of its planned launch, offering $100 in free bets for anyone that signs up before December 1, 2022 – Ohio residents should take advantage now. On top of that, customers will be offered an additional $200 in free bets as long as the new customer deposits $10 and wagers $1.
It’s clear that bet365 are trying to increase their brand recognition and footprint across the US but they have left themselves playing catch-up in a market that they have always been in a perfect position to dominate. With everything they could need already in place for them to make a splash in the American market, it would be a safe bet to say they will become a major player soon enough.
