Penn National Gaming announced Monday that its subsidiary Score Digital Sports Ventures (theScore Bet) has launched its proprietary risk and trading platform. The gaming company calls this "the culmination of theScore Bet's strategy to bring its sportsbook technology in-house."
theScore Bet now operates on a vertically integrated technology stack with all components, including the Risk and Trading platform, Player Account Management system, and Promotion Engine custom built by its in-house product and engineering teams.
According to Penn National, the migration to its own risk and trading platform significantly enhances theScore Bet's mobile product offering in Ontario, including increased in-game wagering options and event props and an expanded library of markets.
"The vertically integrated infrastructure also unlocks greater personalization and media and betting integration capabilities, enabling theScore Bet to more creatively and efficiently serve users," the company described in a press release. Additionally, theScore Bet will introduce its new Parlay+ feature this fall for all major league sports.
Jay Snowden, CEO and President of Penn National Gaming, said: "The completion of theScore Bet's technology stack is a milestone accomplishment that significantly strengthens our online betting capabilities, mobile product offerings and overall integrated media and betting ecosystem."
According to the CEO, this vertically integrated platform will increase the company's ability to engage and retain customers, drive more flexible pricing, and provide valuable savings on third-party platform costs. Snowden further claimed it will allow the business to deliver "the most personalized product experience" in the market.
"We're thrilled to have this technology deployed in Ontario and are diligently working toward migrating the Barstool Sportsbook in the U.S. to the platform in Q3 2023, after which we will begin to realize the full benefits of our in-house, custom-designed technology," Snowden concluded.
John Levy, CEO of theScore, added: "From the outset, achieving technology independence has been a core priority of ours and I could not be prouder of the incredible team who built this state-of-the-art platform from the ground up."
"Operating on a system where all components are custom built to work together maximizes our speed and efficiency and supercharges our ability to seamlessly roll out new features, wagering options and innovations. We are extremely excited to introduce this enhanced product to Ontario bettors well ahead of the busy fall season," Levy added.
Score Media and Gaming announced last month that it would shut down its sportsbook in the United States on Canada Day, July 1, ending the Toronto-based brand’s growth strategy south of the border, eight months after theScore’s acquisition by Penn National Gaming aimed at growing market share in the North American sports betting market. The company stated that the decision to shut down its US platform is aimed at shifting focus to its Barstool Sportsbook brand, where Penn has a 36% stake and the option to buy controlling ownership.