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00:00There's another sports betting operator that I guess you could kind of quantify by saying
00:06slow and steady wins the race.
00:08That's how I would define the United States market with Bet365.
00:12Very popular all over the world here in the US, just sort of quietly jumping into different
00:18markets.
00:19And Sam, we found out over on legalsportsreport.com yesterday that they are opening up shop in
00:24a new state.
00:25Which one is it?
00:27Yeah, first of all, I would say the way you've described Bet365 strategy is spot on.
00:32While you've had a company like Penn try to come out here and throw dollars and try to
00:36expand in 17 states at once, Bet365 has really waited in the shadows.
00:41But the big development here is them launching in Illinois, which is one of the biggest states
00:46in the US.
00:47And for them, it's their biggest state that they're live in now.
00:49This is a privately owned company, which is a huge global powerhouse across the world.
00:54They have a ton of money.
00:56So it's been really interesting to see them take this slow strategy where they first launched
01:00in Colorado a few years ago and then in New Jersey.
01:03But they really can kind of turn this on whenever they want to.
01:06And I would say Illinois, being a huge state, being a huge sports state, is a big development
01:12in kind of the slow and steady race that they've been.
01:15It'll be pretty interesting to see what have they learned in that time that they've kind
01:19of waited to launch in a state like Illinois.
01:23This is only their 12th state, but it's the biggest one.
01:25Are they going to use this strategy of pumping out promos and trying to get people over your
01:30sports book?
01:31We've seen, obviously, that hasn't really worked out in terms of being able to retain
01:34customers for a lot of these other brands.
01:37In some cases, though, it can come down to the technology they have just isn't a good
01:41experience for people.
01:42Bet365 has that tech that they have been using across the world.
01:47So we'll see if they can get that product in front of people.
01:49If people are then, hey, it's actually really a good, easy app to use, or if it has some
01:53issues here.
01:55They don't have some of the market constraints that a company like DraftKings has, where
01:58you have investors you have to answer to and profitability questions, or a company even
02:03like MGM, which has other businesses that support it, not just the sports book.
02:08So I would say this MarksBet365 really ramping things up.
02:12This is the sixth state they've launched in the past year, and they've just really ramped
02:16up things.
02:17And we'll see in 2025, if that continues to go, if they're making a good go of it, and
02:22they want to roll that forward and maybe bring some momentum even up here.
02:25So yeah, Illinois, big state for Bet365, and it'll be interesting to see how customers
02:30react.