Virginia becomes bet365’s fourth stateside market

bet365 has taken another step in its roadmap for international, particularly North American, expansion, making market entry in the state of Virginia.

The Stoke-on-Trent based global bookmaker first launched in the US in New Jersey back in 2019, and has since launched in Colorado and the newly regulated state of Ohio.

Last month, it appeared that Massachusetts would become bet365’s fourth active state, after the company partnered with local firm Raynham Park Sportsbook for development of a mobile betting app.

However, bet365 later confirmed to SBC Americas that it would not be pursuing a Category 2 gambling licence in the northeastern state – instead, the firm seems to be pursuing prospects further south in Virginia.

“Fresh off the heels of a successful launch in Ohio, we are thrilled to launch the world’s favourite online sports betting brand in Virginia,” a bet365 spokesperson said. 

“With a growing community of sports betting fans, the launch into Virginia marks a milestone for bet365 as we continue our US expansion.”

The state of Virginia has become a hotbed for sports betting, with revenues exceeding 400M$ in May.
International development has been a key focus for bet365 of late, as the company detailed in its latest financial update for March 2021-March 2022 that investment costs had driven up expenditure.

Total sports betting and gaming revenue for the company rose by 2% to £2.851bn (2021: £2.817bn), but overriding costs meant total operating profit fell by 94.6% from £285.5m to £15.4m.

City Bet Club argued last week that bet365’s increased investment overseas, such as in North America, indicates that Denise Coates’ betting and gaming giant no longer sees the UK as a growth market.

In support of its latest stateside rollout, bet365 has struck a notable sponsorship deal, partnering with the Washington Commanders, which maintains its training facility and H1 in Ashburn, Virginia.

“The Commanders are an iconic NFL franchise, with a dedicated and loyal fan base, and we’re excited to work closely with the team to give back to the fans,” a bet365 spokesperson remarked.

bet365 intends to use the deal to promote its In-Game sports betting product to Commanders fans, and will also include stadium signage at FedExField – the Commanders home ground in Maryland – trademark usage, digital integration and other agreed-upon broadcast elements.

Ryan Moreland, Washington Commanders Chief Partnership Officer, said: ”This is an exciting time for our fans – and all sports fans – in Virginia, and we are excited to partner with bet365 to engage our fans across multiple platforms.”