The well-known British sports betting company Bet365 recently announced that it has officially joined the Sports Betting Alliance (SBA), becoming the first new member since the alliance was established in 2021. Previously, the alliance consisted only of major operators such as FanDuel, DraftKings, BetMGM, and Fanatics Sportsbook.
SBA President Jeremy Kudon stated, "We welcome Bet365 to the alliance, as their vision for development aligns with ours, which is to promote the establishment of a transparent, compliant, and sustainable online gambling ecosystem in the US." He emphasized that the alliance will work together with Bet365 to guide more states' illegal or unregulated gambling activities into a regulated framework.
Bet365 spokesperson Trip Stoddard added that the company looks forward to collaborating with SBA members to combat illegal gambling activities and strive to extend legal sports betting to all 50 states in the US.
Accelerating penetration into the US market, Denver as North American headquarters
Currently, Bet365 has launched sports betting operations in 13 states in the US, having just entered Illinois and Tennessee in March this year. The company's North American headquarters is located in Denver, Colorado, and it is expected to further expand its territory within the year. Missouri, the 14th target state, has reached a cooperation agreement, and Bet365 will partner with the MLB team St. Louis Cardinals to promote the compliance of online gambling.
Even before entering new states, Bet365 had already completed deployments in Indiana, Arizona, and Pennsylvania. At the beginning of 2025, after the Brazilian market opens, Bet365 will also quickly enter the country, showing its strong interest in the Americas market.
Market reshuffling underway, Bet365's rise is evident
According to data from market research firm Eilers & Krejcik Gaming, Bet365 and Fanatics are continuously eating into the market share. In comparison, BetMGM and non-SBA member Caesars are in the second tier, only behind giants FanDuel and DraftKings.
Parent company may consider selling, with a valuation of up to 12 billion US dollars
Meanwhile, The Guardian reported that Bet365 CEO Denise Coates is considering selling part or all of the company's business, with a potential valuation of up to 12 billion US dollars. This rumor has also sparked market attention to the possibility of significant adjustments in its capital strategy.
SBA continues to actively lobby at the policy forefront
As an industry representative, the SBA has recently been frequently involved in the legislative process in various states. For example, Illinois had planned to impose an additional fee of 25 cents on each online bet, and the SBA immediately mobilized tens of thousands of gamblers to write to legislators, opposing the measure. Although it was unable to completely prevent the policy from being implemented, the alliance called it a "punitive" measure, warning that it could force small players to turn to illegal platforms, thereby weakening state tax revenue and regulatory effects.
