When sports gambling is effectively legalized outside of Nevada after a Supreme Court ruling overturns a federal ban, how sports media companies will figure out how to profit from it is just “when?” ” became a problem. Many of the predictions we made about how media companies can take advantage of this trend have already come true. CBS said in August that it was already seeing advertising revenue in states where sports betting was legalized (a revenue stream is expected to grow over the next few years).Major networks have also begun to see odds and gambling stories trickle into their on-air discussions. Sims and Lefko: Show The focus was on gambling as media companies attempted to enter the sports betting arena head-on.
Its expansion into that space continued Monday, with sports media company theScore Inc. announcing that it would launch a sports betting app in New Jersey sometime in 2019.
TheScore is a mobile-first media company that delivers sports scores and news via apps and websites in much the same way you can find it on ESPN and CBSSports.com. What they are trying to differentiate now is taking advantage of the insatiable interest in gambling information from sports fans and combining it with their regular offering of scores and reports.
TheScore’s entry into sports betting is shaped by two distinct partnerships. First, we partnered with Monmouth Park Racecourse in Oceanport, New Jersey. Monmouth Park Racecourse is one of his three racetracks currently licensed for sports betting in the state. The second is working with startup Bet.Works to offer a sports betting platform through its site and app. The trio will work together to create an app that allows users to bet online.
Sports betting apps require approval from the NJ Department of Gaming Enforcement and the New Jersey Racing Commission. However, TheScore believes it could launch around mid-2019.
John Levy, Founder and CEO of theScore, said: “Sports betting has long been part of our DNA in the way we deliver content to our fans. Offering the ability to actually bet on games is a natural next step for theScore.”
This will be an interesting case study, not just for the company, but for the industry as a whole. Not sure how this particular app works but imagine checking out daily news and updates on today’s game and being able to place bets right before checking box scores and latest stories. Please try.
TheScore also has a pool of suitable testers to choose from. The app now has over 4 million active his users, not to mention leveraging an even larger database of past users. According to Legal Sports Report, the company reached 50 million sports fans across platforms in the third quarter and sent 1.5 billion sports-focused alerts each month. He also has 3.4 million Facebook followers, so their suggestions will reach many sports fans.
If this ploy works, expect to try it out in other states where online gambling is legal or will soon be (Nevada, Pennsylvania, West Virginia). You can also take a look at other sports media companies and bet they will try as well. It’s likely they’ll do well, too, as the New Jersey sports betting operator made his $21.2 million in revenue on his $330 million stake in November alone.
[Legal Sports Report]