TheScore Bet CEO John Levy Excited To Be In Indiana Market That’s ‘Going Nuts’

The ninth online sportsbook in Indiana is unique.

TheScore Bet may be a new entrant in the Hoosier State, but its unique media-based approach gives it an advantage over others.

From the beginning, John Levy, the founder and CEO of theScore, has been at the helm.

The roots of the Toronto-based company can be traced back to television in the 1990s.

Levy eventually launched theScore app, which has risen to become a titan in the sports media industry. It is only surpassed in popularity in North America by the ESPN app.

Currently, theScore Bet sportsbook serves as a bridge linking the company’s media app and the gambling world.

Earlier this week, Play Indiana had a conversation with Levy regarding the launch of the sportsbook in Indiana.

What to expect

What should you anticipate when you download theScore Bet?

If you’ve already started using theScore sports media app, then you’ve already figured out half of the puzzle.

“We often humorously acknowledge that we’re the most utilized yet least recognized brand in the US sports industry. If you’re a Score user, you should anticipate the same approach to how we present sports news and information to our users, essentially sports enthusiasts. Essentially, our venture into sports betting is merely a continuation of our longstanding operations.”

The sportsbook integrates the content from theScore's media app with the sports betting aspect of its business, providing its users with the best elements of both.

Levy emphasizes that simplifying everything and enhancing ease of use was a major priority. He is optimistic that the media app’s success in Indiana will also appeal to sportsbook users.

To me, Indiana appears to adopt a ‘give it to me straight’ approach. They’re open to see what you’re doing and if they like it, they’ll join in. If not, they won’t bother. I believe they’ll enjoy this. In fact, I think they’re going to love it, especially considering their existing interest in the (sports media) app.

Why Indiana?

Given that Indiana currently has nine online betting apps, each company must compete to establish its own portion of the state’s handle.

That’s a substantial handle. Hoosiers bet almost $170 million on sports in August.

Levy claims that Indiana’s status as one of the country’s largest markets was a significant factor in attracting theScore Bet to the state initially.

The market in Indiana is enormous and thriving. The statistics from July to August clearly demonstrate this surge. This is another reason why we are pleased to be there. The state boasts of various assets including colleges and professional sports teams, especially with the return of the Big Ten. This is highly significant for Indiana.

Future growth

When a sportsbook starts up in a new state, it’s often already delayed. The firms that commence operations months in advance have an advantage.

Indeed, in Indiana, DraftKings and FanDuel have dominated the betting scene since its inception.

Levy and theScore acknowledge that there is work to be done in the Hoosier State, but the company can still be successful without being the leading entity.

To be honest, it isn’t necessary to have a 30% market share to maintain a viable business. Having a mid-single-digit market share leading up to a double-digit share can result in an exceptional business.

Thus, theScore Bet isn’t expected to outdo its competitors in the coming months, which is anticipated. Levy’s focus is primarily on expanding the initial customer base.

Our content is viewed by hundreds of millions of people when we distribute it across different platforms. Some may question whether this means we aim to attract millions of bettors. While having millions of bettors would be ideal, it’s not necessary in the betting industry. Instead, a business can be built around thousands or tens of thousands of quality bettors. If done correctly, this lays a strong foundation for future growth.

In the case of theScore Bet, time is in its favor because high-quality products often sell themselves.

Penn National Gaming

In Indiana, online sportsbooks are required to partner with a land-based casino.

TheScore Bet has signed a deal with Penn National Gaming to secure market access in various states. The sportsbook’s partner in Indiana is Ameristar East Chicago.

Levy anticipates a productive partnership with Penn National.

“They are attempting to ensure that they have multiple paths to success. I am confident that we will be one of those paths, and hopefully, they will discover others. It provided us with a 30% market share in the US, spanning New Jersey to Colorado, which was achieved independently. Along with the 11 states we acquired through Penn, as these states initiate licensing, it presents us with a significant starting point.”

Indiana retail sportsbook

Currently, theScore Bet is concentrating on the digital aspect of the business.

However, this doesn’t rule out the possibility of a retail sportsbook launching in Indiana in the future.

Levy states that the company isn’t aggressively seeking a retail location, but would consider it if an appropriate deal presented itself.

Our brand and user base truly define our strength. While it’s not a necessity for us, there are exciting opportunities in that field where we could greatly benefit someone looking to partner with us. Alternatively, we could handle the situation independently. It could quickly become exciting, but it’s not something that’s putting pressure on us.

Regardless of whether the company eventually ventures into retail, theScore Bet intends to maintain a presence in Indiana for many years.

TheScore Bet, with its innovative approach to sports betting that focuses on new media, certainly offers a unique appeal to gamblers in Hoosier.