bet365 partners with Cleveland Guardians in Ohio
After sports betting launched in Ohio on January 1, the operator signed a deal with the Cleveland Guardians baseball team.
US.- After sports betting launched in Ohio on January 1, bet365 has signed a multi-year partnership with the Cleveland Guardians baseball team. The deal will debut at Guards Fest in the Huntington Convention Center, and the bet365 lounge will be available for fans aged 21 and over with prizes and bet boosts.
A bet365 spokesperson said: “Everyone at bet365 is thrilled to partner with the Guards as we launch the world’s favourite online sports betting brand in Ohio. The Guardians’ rich history is deep-rooted in the Cleveland community, and we’re excited to become part of their exciting future.
“We can’t wait to engage with Guards fans at Guards Fest. The Guardians are an elite franchise with a passionate and loyal fanbase, and we’re excited to create fan-focused activations that give back to the faithful Cleveland baseball fans.”
Ted Baugh, VP of corporate and premium partnerships of Cleveland Guardians, added: “We’re very excited to work with bet365 as our exclusive mobile sports betting partner and welcome them to the State of Ohio.
“There is a tremendous bond between our organization and bet365. With nearly 90 million customers registered worldwide, bet365 is one of the world’s leaders in online gambling and will provide our fans with a trusted source to complement our organization’s success on and off the field.”
Recently, the geolocation data firm GeoComply recorded that Ohio was the most active regulated market in the US over the New Year’s holiday weekend. The state registered 11.3 million geolocation transactions on its opening day on January 1 and January 2.
The 11.3 million transactions came from 784,000 unique accounts across 17 different operators. Around 234,000 geolocation transactions took place during the market’s first hour on New Year’s Day.
bet365 reports full-year revenue of £2.85bn
bet365 reported revenue of £2.85bn for 2021-22. That’s a rise of 2.9 per cent year-on-year. However, operating profit fell by 87.8 per cent to £41.7m due to the cost of customer acquisition in new markets.
Sports betting revenue was down by 2 per cent due to margins (wagers were up by 48 per cent) but gaming revenue rose by 25 per cent. However, marketing costs grew by 1.4 per cent to £496.8m and administrative expenses by 18.2 per cent to £2.31bn due to “significant costs associated with raising brand awareness in new markets alongside continued investment in IT infrastructure and technology”.
