Bet365 Promo Spending Soars in Reach for US Market Share

Posted on: December 5, 2025, 02:06h. 

Last updated on: December 5, 2025, 02:21h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.
  • Bet365’s sports betting promotional spending is soaring while rivals pull back
  • Company’s promo spending as percentage of GGR is highest in the US
  • Operator is attempting to gain market share in this country

At a time when rivals are reining in online sports betting promotional spending, Bet365 is going a different direction, spending big in an effort to capture more market share in the US.

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The bet365 offices in Malta. The company is spending big in the US. (Image: Shutterstock)

In a new report, Eilers & Krejcik Gaming (EKG) points out that promotional spending among US internet sportsbook operators, including market leaders FanDuel and DraftKings, has been flat or declining since the start of 2024. However, UK-based Bet365 is taking a different approach, accelerating its promo expenditures in a bid to grab share.

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A chart detailing sportsbook operators’ promo spending trends. (Image: Eilers & Krejcik Gaming (EKG))

The red line in the above chart indicates Bet365’s promotional expenditures for the three months ending October approached 85% of gross gaming revenue (GGR) — by far the highest percentage among sportsbook companies doing business in the US.

Bet365 Spending Extending to Missouri

Earlier this week, Missouri became the 39th state to go live with legal sports betting, and it appears Bet365’s spending trends are extending to its launch in the Midwest state.

“Early search data from Missouri suggests more of the same, with Bet365 behind only FanDuel and Draftkings in search interest on day one of the market on December 1st,” notes EKG.

Promotional spending is, arguably, the elephant in the regulated sports betting room because operators need to spend to acquire and retain customers. But that often comes at the expense of attaining profitability. Over the past several years, most operators have dialed back on customer enticements as the investment community has demanded a greater emphasis on profitability.

On that note, Bet365 has a luxury in that its a private company. Its biggest shareholder is CEO Denise Coates and her family. Said another way, if the operator wants to spend big to acquire customers in the US, it doesn’t have to justify those expenditures to analysts and investors.

Why Bet365 is Spending Big in the US

Bet365 hasn’t publicly commented on why it’s outspending rivals in the US, and as noted above, the reason may be as simple as the desire to attract and retain customers.

There may be other motivations, as well. Speculation surfaced earlier this year that Bet365 is working with investment bankers on a variety of options that could value the gaming company at as much as $12 billion. Rumors indicate those options could include a US initial public offering (IPO) or a full or partial sale to a US-based private equity firm.

If either scenario were to come to fruition, Bet365 would likely be more attractive to a domestic suitor and US investors if it can prove its market share in this country is trending to the upside. That said, it’s been more than six months since talk of a transaction has surfaced.