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SportsTranscript
00:00Let's get to the latest in sports betting operators.
00:03Let's touch on Bet365.
00:04So much of our discussion, Sam, as you know,
00:06is usually around FanDuel, DraftKings.
00:07Good to see BetMGM still making moves here.
00:10Looks like they're headed to two new markets
00:12to see if they can get their impact there.
00:14Which are the markets,
00:15and do you think it'll be successful?
00:18Yeah, Bet365 is one of these sportsbooks.
00:21For a while, we've kind of wondered
00:22when they're going to ramp up.
00:24They call themselves the world's largest sportsbook.
00:26They have just a ton of money backing them
00:29from the Coates family in the UK,
00:30but they've been hesitant to really expand in the US.
00:33But now we're anticipating
00:34they're going to add two more states.
00:36Around March Madness is kind of what we're targeting.
00:38They would add Tennessee and Illinois,
00:41which would bring them from 11 states to 13 states.
00:44And those are pretty important states
00:46because Illinois, you know, is huge.
00:48It's a top five gaming market.
00:49And Tennessee is also very competitive
00:51in terms of online sports betting.
00:53We're about seven years in.
00:55Bet365 has been slow.
00:57They launched in North Carolina last year,
00:58and you saw a lot of promos around that launch.
01:02They would be good to take advantage
01:04of how the volunteers have done so far in college basketball.
01:08They're about fourth in the country right now.
01:10And Illinois looks like they'll make the big dance as well.
01:14Considering the recent tax changes in those states,
01:17Illinois is one of those states that doubled its tax rate,
01:19which has led to operators like DraftKings and FanDuel,
01:22the ones we often talk about on this show,
01:25saying they want to find ways
01:26to pull back their spending in that state
01:29to mitigate those tax increases,
01:31which could open an opportunity for a sports book
01:34like Bet365 to come in with bigger promos,
01:37better offers, more advertising,
01:39because often what is slashed when you talk about,
01:42you know, ways to cut down spending
01:44is promos, marketing, and advertisements.
01:46And Illinois is a state that DraftKings and FanDuel
01:48have been in for a long time.
01:50They're not really being super aggressive there
01:52trying to fend the top spots.
01:53So it would be a good chance for Bet365 to get in there,
01:56especially around March Madness.
01:58And then Tennessee as well, they have a tax on handle,
02:01unlike most states, which have a tax on revenue.
02:04So essentially all the money that they take in bets
02:07is getting taxed.
02:08So that could be harder for Bet365 to go in there
02:12and try to flood the market and get people to bet.
02:15But it's also still, again, a very big state
02:17and a big market, and would be just very significant
02:21in terms of their ramp up, which has been slow.
02:23Again, over the last seven years,
02:25they have a ton of money backing them.
02:27So we're kind of just, we've been waiting to see
02:29when they're going to ramp it up.
02:30And this could be kind of another stepping stone
02:32to moving forward where they're trying to compete
02:35for that top spot among all U.S. sportsbooks eventually.