Global sportsbook operator bet365 confirmed with Covers that it will be leaving the Chinese online gambling market.
In an email sent out to its Chinese-based customers, bet365 announced that it will be leaving the Chinese-regulated market effective March 27.
“bet365 continually reviews and assesses the markets to which it offers its services. The group has decided to align its focus to its core competencies in its core markets by consolidating its resources to center on gaining market share in regions that provide long-term sustainable revenue,” a bet365 spokesperson said in a company statement.
“As a result, bet365 will shortly cease operations into various jurisdictions including China.”
Speculation surrounding the imminent withdrawal gives the impression that bet365 is prioritizing the U.S.-regulated market. Eilers & Krejcik Gaming analyst Alun Bowden shared that bet365 owner Denise Coates is “gunning for U.S. market share” and that it is the company’s biggest priority regarding growth.
As the company moves into more regulated markets – 90% of its operations are reportedly in regulated jurisdictions – its most recent launch was in Brazil.
U.S.-facing opportunities growing for bet365
The company has amplified its U.S. operations in recent weeks, with its digital sportsbook going live in Illinois for March Madness and partnering with MLB's St. Louis Cardinals ahead of its subsequent launch in Missouri.
The company will gain advertising rights to Busch Stadium, including an all-inclusive service package called the bet365 Bridge and signage posted around the stadium and on the Cardinals' starting lineups.
In addition, bet365 would be featured on Cardinal-related media, such as its Insider TV Show and official website.
“bet365 is proud to announce our partnership with the St. Louis Cardinals, one of the most storied franchises in Major League Baseball. We are excited to bring a world-class mobile sports betting experience to the Show-Me-State,” a spokesperson for bet365 said.
