TheScore takes early lead in Ontario market

TheScore’s sportsbook app was the most downloaded sports betting app in Ontario following the launch of regulated operations on April 4, according to new research by Morgan Stanley.

Data produced by the investment bank on the newly launched market has revealed 50% of all overall sports betting app downloads since market launch had been theScore’s app.

Bet365 received the second most downloads at 36%, beating Betway at 5% of sportsbook app downloads, which was just ahead of BetMGM and Rush Street Interactive’s BetRivers sportsbook at a 3% download share.

“We now have roughly two weeks of Canada download data since the regulated market opened,” Morgan Stanley analyst Thomas Allen wrote in a note to clients.

“TheScore betting app has taken a very strong lead,” he added.

Expanding on this assertion, Morgan Stanley suggested theScore’s share of sportsbook downloads peaked at 79% on April 4, before declining to a 30% share two weeks later on April 16. Its nearest rival bet365 saw its sportsbook download share rise from 17% on April 4 to 50% on April 16.

While not reflecting the revenue of these operators, the data gives an indication as to the potential tussle for market share currently taking place in the Ontario market.

It also serves as an early vindication of theScore’s Canada-first marketing strategy, which has seen the Toronto-based firm become one of the first operators to go live in the Ontario market and heavily leverage its Canadian heritage as a media business with customers.

This strategy was highlighted by Allen in his concluding remarks regarding the Ontario market.

“Given that not all major US operators are live in the Ontario market yet, for example DraftKings, we expect to see further dispersion of share over the coming months,” Allen wrote.

“However, taking first-mover advantage and getting customers on apps early has proven a successful strategy in most US markets so far,” he added.