EGR Power 50 2019: bet365 (01)
01. bet365 (01)
FINANCIALS: Had yet to release its annual accounts at the time of writing, but numbers revealed exclusively to EGR show the operator is still way ahead of the competition
STRATEGY & IMPACT: Company benefits from a unique focus on sportsbook, with its proprietary platform, homegrown pricing and unparalleled range of markets
GEOGRAPHIC REACH: Is known to operate in some grey markets but also dominates in regulated jurisdictions like the UK, Italy and Spain
INFLUENCE & LEADERSHIP: Is part of the big five UK operators which leads on responsible gambling, while its decisions have ripple effects across the industry in areas like horseracing margin and offers
There’s a joke in the EGR newsroom that if you want some extra clicks, just stick bet365 in the headline. Except it’s not really a joke, more of a life hack. Five of the top 10 most-read stories on our site this year were about bet365, including a potential legal case against an ICE imposter, the turning off of some payment options, and a legal case about restricting Spanish customers. Remove the bet365 name and these stories become a lot less interesting, which speaks to the sheer industry fascination with bet365 and its massive influence on the rest of the sector, from product to strategy to responsible gambling.
Not many companies elicit statements from two governments when they announce plans to move offices either, but that was exactly the case when 365 relocated a good chunk of its operations to Malta from Gibraltar, with Maltese politicians welcoming the firm on social media and Gibraltar scrambling to tell the press the sky wasn’t falling.
While 2019 didn’t see the same roll-out of new products and innovations as previous years, the focus seemed to be more on new markets like Mexico and Argentina, and implementing a comprehensive responsible gambling system.
The Stoke-headquartered firm tops these rankings for the tenth consecutive year and remains conspicuous from the merry-go-round of M&A activity that engrosses the rest of the industry. Instead, the operator continues its single-minded focus on offering the best sports betting product on the market – a focus that’s reflected in market share numbers in just about every jurisdiction 365 is active in.
The 2019 reporting period saw 365 continue to post impressive numbers from an already massive base, proving beyond doubt the benefits of scale and owning proprietary technology. The big focus for 2020 looks to be the US, where 365 recently launched in New Jersey. Can the firm replicate its monumental success in the rest of the world in the US? It’s coming from a standing start without the player databases of rivals like FanDuel, DraftKings or MGM, but the product might just be that good. And can 365 fend off merging rivals for the top spot in this list in 2020? You’d be mad to bet against it.