Bet365 looks to continue thier expansion in the United States market

One of the fastest growing online gambling companies in the United States is Bet365. The company first launched in New Jersey in partnership with the Hard Rock Hotel and Casino in 2019 (the state required a partnership with a land-based facility to be legal). They then expanded in late 2022 to include Colorado, and in 2023 they made a huge push statewide launching in order Ohio, Virginia, Iowa, Kentucky and Louisiana. The company expanded again in 2024 to launch in Indiana, Arizona, North Carolina, and Pennsylvania. And in 2025 they launched in Illinois, Tennessee, Kansas, Maryland, and most recently in Missouri.

Some key states missing

That means they are in 16 states, but some key states they are still missing from are Connecticut, Massachusetts, and most significantly Michigan and New York. I spoke to someone close to the situation who told me that the company is set to seek licenses in all four of those states as well as possibly Vermont.

Eyeing New York

The big U.S. push comes on the heels of news that Denise and John Coates are considering selling the majority of the company for up to £9 billion, equivalent of about USD$12 billion, and interested buyers are looking to see a larger U.S. presence, which would include all the states that are feasible. According to the source, senior management at Bet365 was very leery of New York due to the 51% tax and the lack of online casino betting there, but they now have a strong belief that Senator Joseph Addabo’s bill S2614 to legalize online casinos will pass this year, since legislators in the state are softening their stance on the issue. Polls show most New Yorkers want online casinos, and Governor Kathy Hochul may view that signing this bill, if passed, would be seen as a potential notch with bettors as she seeks re-election in November.

Unconfirmed reports say there has also been a lot of infighting in the state among legislators as several sportsbooks that launched there, including WynnBet, FoxBet, and Resorts World, have left saying the current situation is untenable, and a few that are still operating, including BallyBet, have said that without legal online casino gambling they may have to officially close too. Each of these closed companies represents lost licensing fees for the state and creates an oligopoly for FanDuel, DraftKings and BetMGM who control almost all of the betting in the state. Whether Bet365 would seek to get a new license or buy an existing license (like Resort World’s) is uncertain, although the latter is unlikely as Resorts World has a land-based operation in the state so may see some use for that license at a future date if online casino wagering is allowed.

Michigan and Massachusetts are targets as well

As for Michigan, it’s unclear why Bet365 has not been able to make headway in the state, although there is some speculation that Bet365 may be working with the Seminole Tribe on more partnerships with the Hard Rock brand that would include Michigan and Florida (where Hard Rock has a monopoly due to the current compact). And there are very strong rumors that Bet365 and The Seminoles may work together to get a license in New York that would minimize risk while utilizing the expertise of both operators. Hard Rock has already begun operations on a resort casino called Metropolitan Park that is being built in partnership with New York Mets owner Steve Cohen to be located next to Citi Fields in Queen’s, New York. With legal commercial casino betting in New York City it would also provide more reasons for legislators (and possibly New York residents via a referendum) to approve online casino gambling as well.

Massachusetts, which closed sports betting bids last year has agreed to reopen them after a request from Bet365. So it’s logical that Bet365 would get a license as soon as they submit an application since the Gaming Commission in Massachusetts voted unanimously to open the bidding process again. Aside from the desire to increase gambling licenses to generate revenue, it appears many states are hoping that if they have a robust online gambling infrastructure, it will help them with any lawsuits and cease-and-desist orders that are being considered by courts as they try to get prediction markets categorized as gambling rather than commodities trading. The goal being to force sites like Kalshi and Polymarket to pay a license fee and taxes to offer any sports related prediction markets, rather than being left off the hook as is currently happening. The CFTC has already agreed to defend the prediction market sites, but the gambling industry will have a far greater defense if it can show that prediction markets are no different than sports betting companies other than the fact they don’t pay taxes or licensing fees.

In order to facilitate the big U.S. expansion, and show it was investing in the United States, Bet365 spent $175 million in July of last year to purchase and renovate a headquarters in Denver, Colorado and the company has indicated that by the year 2033 they will have at least 1,000 employees working at that location.

While this is just a rumor at this point, all indications suggest that Bet365 will be expanding into most of the big gambling markets where they currently don’t have a license, which will put them on the level of BetFanatics, ESPNBet, and BetRivers making them one of the largest books in the U.S. after FanDuel, DraftKings and BetMGM, which currently dominate the online space.

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