PointsBet Sportsbook is at it again, this time gaining market access to both Mississippi and Pennsylvania. The United States sports betting industry continues to grow, and PointsBet has helped push things along.
Not only will PointsBet gain sports betting access, but it is also receiving access to iGaming. With the popularity of online sports betting, online casino gaming should become the next big thing in the U.S.
PointsBet gained market access by expanding upon the current partnership with Penn National Gaming. Both states will have to approve of the new deal officially, but that is just considered a formality at this point.
With this agreement, PointsBet now has market access in 14 states throughout the U.S. Penn National Gaming will receive a portion of the revenue that PointsBet earns in each state, but the company did not disclose those financial details.
The deal is a 20-year partnership extension that doesn’t start until PointsBet is live in both markets.
Pennsylvania A Large Market, Mississippi Stuck
Pennsylvania has been a target of PointsBet for months as this state will provide a great opportunity. The sports betting and iGaming markets in Pennsylvania generate close to $2 billion per year and will continue to grow in the coming years.
With sports betting, Pennsylvania is the third-largest market in the United States behind New Jersey and Nevada. PointsBet will have several top operators to compete with in the state, but it’s similar to what markets look like elsewhere.
Mississippi is not a large sports betting market, and lawmakers just shot down a bill that would have allowed things to expand. There was a proposal to legalize online sports betting in Mississippi, but that bill did not gain enough support.
Great Start For Australian-Based Operator
PointsBet is an Australian-based operator, but the company is well-known in the U.S. sports betting industry. New Jersey was the first state that saw a PointsBet Sportsbook, but the company has seen massive growth since 2018.
The company is growing rapidly in the Midwest portion of the United States, and PointsBet has been competitive in these markets. PointsBet is also available in Colorado, one of the fastest-growing markets in the U.S.
PointsBet offers a points betting option, which is much different than traditional betting. This option has helped the company stand out from the competition and attract new customers.
PointsBet Making Other Deals
Not only has PointsBet made it a point to gain market access in several states throughout the country, but the company is also committed to improving its product. PointsBet recently announced deals with both Genius Sports and Banach, and it will enhance the customer experience.
The deal with Genius Sports will allow PointsBet to live stream sporting events on its mobile app and online site. Genius Sports will also provide PointsBet with the necessary data to enhance the site’s live betting function.
Banach is a risk-management company that will help PointsBet set better betting odds for live betting options. This $43 million deal will help PointsBet become one of the top operators in the industry.