theScore Bet confirmed in its most recent quarterly report that it expects to bring mobile betting operations to Indiana “later this summer.” It has already followed through on similar promises in Colorado.
theScore Bet would be the ninth mobile betting app in Indiana.
Mobile betting growth comes alongside recent losses
Plans to expand into Indiana coincide with the announcement of a rough third financial quarter.
The period from March through May saw significant losses for theScore, run by Score Media.
The company dropped from $8.5 million to $2.4 million in total revenue compared to the same time period last year. theScore Bet drew $3.7 million in handle during the third quarter.
The company has nonetheless “continued to press ahead at full strength on key initiatives,” said Score Media CEO John Levy in a statement. That includes further development of theScore Bet. The company also offers a popular sports media app.
But most important for Hoosiers are the company’s plans for mobile betting expansion.
“We remain on track for our multi-state roll-out into Colorado and Indiana later this summer, subject to receiving all relevant licenses and approvals,” noted Levy.
He called the past quarter “a period of unprecedented challenge” as a result of the COVID-19 pandemic.
Score Media is hopeful the return of professional American sports will allow the company to build its customer base. Levy said in the initial days of baseball’s return, the company saw a doubling of betting sessions compared to previous days.
“At the same time, in the first week of live baseball on theScore Bet, we nearly matched our total betting handle from Super Bowl week. All with just one of the major sports back at play,” he noted.
Such fortuitous timing could allow theScore Bet to make haste in what is quickly becoming a crowded Indiana sportsbook market.
theScore will need to fight for space
The company’s late arrival is still a slight cause for concern.
Other sportsbooks, like BetMGM and PointsBet, launched in the Hoosier State during widespread sports shutdowns. However, they had time to build an Indiana customer base, especially during the early days of basketball and baseball’s return.
To counter, theScore will rely on a unique offering.
That includes a personalized approach meant to cater to fans’ favorite teams and leagues.
theScore Bet can be paired with theScore’s sports media app. That provides bettors with an integrated experience that syncs what the company calls “personalized betting options.”
Bets can be tracked on either app. theScore also offers its Bet Mode feature, helped by data partnerships with MLB and the NBA. This helps personalize aspects of the app like players’ MLB betting preferences.
theScore’s sports app embeds Bet Mode into it. It is a deep data dive into the betting side of sports matchups.
“Our team has launched a best-in-class sports betting app that’s also been seamlessly integrated with our market-leading media app,” said Levy in 2019 upon its launch in New Jersey.
“Millions of sports fans all over North America were already using theScore, with many relying on our data and content to help inform their betting decisions. Now … we’ll be able to bring the bet right to them.”