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2. Bet365
Financials: The key figures, shared confidentially with BDO, showcased an impressive performance for the period ending on 30 June 2024.
Strategy & impact: An intense focus on customer experience and meticulous attention to detail have positioned Bet365 as one of the leading sportsbooks, with its online gaming offerings gaining significant traction.
Geographic reach: Bet365 boasts an unparalleled global presence and is making significant strides in the US market. As a major player in Brazil, the company is well-positioned to benefit as this enormous grey market transitions to regulation.
Influence & leadership: As the largest private sector employer in Stoke-on-Trent, the family-owned giant has established the most recognized betting brand worldwide.
The message ‘Never Ordinary’ is prominently featured in Bet365’s marketing materials and app loading screens. This succinct slogan aptly reflects how this private operator and leader in in-play betting has grown into an industry giant with 100 million customers today.
Bet365, set to celebrate its 25th anniversary next year after starting in a portable building in a Stoke-on-Trent car park, has relied on its powerful, sports betting-focused brand for expansion rather than acquiring smaller operators. While competitors have pursued mergers and acquisitions to expand their brand portfolios, Bet365 has remained unique in its approach.
This summer, Bet365 launched an above-the-line TV and online advertising campaign, showcasing “freakish” sporting moments to enhance its brand presence.
More notably, Bet365 became the first sports betting company to sponsor the UEFA Champions League. This historic three-year agreement places the Bet365 logo on pitch-side LED boards during matches, marking a significant investment that few operators could justify or afford.
In the UK, a Barclays report in September ranked Bet365 second with an 18% share in online sports betting, though its overall market share, including igaming, is lower at 10% due to historically less emphasis on slots and table games. This presents an untapped opportunity, possibly explaining the recent prominence of these products in the app.
In the US, Bet365 announced a new Denver headquarters in September and 1,000 additional roles, now operating in 11 states with Pennsylvania being the latest in July. Bet365 consistently ranks well in Eilers & Krejcik Gaming’s US sports betting app testing reports.
Defying the trend of European companies exiting the US market, Bet365 secured the third position by handle in Ohio for September, capturing an 8% market share. This suggests the once-sleeping giant is now fully active.
If you qualify as a Power 50 operator, ensure your participation at the Power 50 Summit next April.
The post EGR Power 50 2024: 2. Bet365 first appeared on EGR Intel.
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