On Thursday, PointsBet reached an agreement with Twin River Worldwide Holdings in New Jersey, as they are ready to enter the rich iGaming market in the Garden State. PointsBet already has a sportsbook in New Jersey, and will now expand into the iGaming market.
PointsBet signs a 10-year deal to get into the U.S> iGaming and sports betting markets. PointsBet has just become partners with the Indiana Pacers and is about to enter the Illinois and Colorado sports betting markets.
PointsBet is looking to Twin River as its official iGaming partner in New Jersey. Once the Bally’s acquisition is completed, then PointsBet will be securing licenses to operate an online casino in the Garden State. However, this all falls on Twin River and Bally’s finishing the deal.
The online casino products are in development by PointsBet and are projecting to launch in the first half of 2021. The company is planning to launch iGaming in Michigan first and also looking to launch in Pennsylvania.
George Papanier, President and CEO of Twin River Worldwide Holdings, commented: “PointsBet will be a great addition to our growing partnerships with innovative leaders around the world. We are also extremely excited to have the opportunity to participate in the best-in-class mobile gaming environment that New Jersey has created and that we believe will bring new and innovative offerings to the market.”
PointsBet is already in New Jersey’s sports betting industry thanks to the partnership at Meadowlands Racetrack. They also have a horse racing partnership with BetMakers Technology.
The iGaming industry in New Jersey is exploding. With the coronavirus keeping casinos closed in the second quarter, people are going to the internet to make wagers. This is a huge opportunity for PointsBet to get in on the action.
The Australian based sports betting operator is quickly growing in the U.S. market, and have had quite the 2020. The Twin River deal is just another way for PointsBet to get their skin in the game. PointsBet officially launched its sportsbook in Indiana this past March.
In July, PointsBet partnered with the Detroit Tigers and the first sports betting operator to partner with an MLB team. Then, at the end of July, PointsBet announced a partnership with Hawthorne Race Course, just outside of Chicago, as they plan to launch mobile and retail sports betting at three off-track betting locations.
Then, this past week PointsBet inked a partnership with the Indiana Pacers. PointsBet signage will be displayed all around their how stadium along with being seen on TV.
PointsBet continues to grow its brand, especially in the midwest market. However, New Jersey s trying to continue to grow in the competitive New Jersey market, which will now include iGaming. The sports betting operator will be available in Colorado, Indiana, Iowa, and New Jersey. Their Illinois will be launching this month, and the Detroit Tigers deal is encouraging to see for Michigan sports bettors.
PointsBet getting into iGaming early on will help grow their U.S. market share, especially in New Jersey. The pandemic shows that gamblers will still get their wagers in, especially if they can do it online. Now, PointsBet will be able to get in on the ground floor of what should be an expanding market.