PointsBet launched its unique betting style in New Jersey this year, and it plans to start mobile sports betting in Indiana and Iowa by the Super Bowl.
CEO Sam Swanell outlined mobile sportsbook launches in Iowa by the end of 2019 and in Indiana by the end of the NFL season at the company’s annual meeting this week. Swanell also noted he’s looking forward to hearing more out of Illinois concerning its sports betting regulations.
PointsBet commanded 5.4% of New Jersey’s $213 million in online handle in June, according to the meeting information. That was more than double its 2.2% share of online handle from its first full month in February.
Business picking up, so far
PointsBet more than doubled its online handle share in June from February through strategically invested promotional and marketing budgets, Swanell said. The company capitalized on key customer acquisition and retention opportunities, he added.
That strategy helped grow customers 254% to 123,180 for global operations in June compared to the prior year. Of that total, 80,008 were active clients that placed a bet within the last 12 months.
Swanell also noted PointsBet is just one of two operators that have a Spanish-language version of their app in New Jersey. About 15% of the state’s population has Spanish as a first language, he said.
Brand recognition increasing for Pointsbet
The company already has some brand recognition in Illinois and Indiana, according to research concluded in August.
About one in 10 men 21 or older recognized PointsBet in both states with 12% recognition in Indiana and 8% in Illinois.
PointsBet hired NBA Hall of Famer Allen Iverson and former NFL star cornerback Darelle Revis as brand ambassadors in the past year.
PointsBet’s five partners
Along with The Meadowlands in New Jersey, PointsBet has four other partners:
• Penn National is, by far, the biggest as it provides access to five states, including Indiana and West Virginia, as well as Missouri, Ohio and Louisiana. Sports betting is not yet legal in the latter three states.
• Catfish Bend in Iowa, is where its retail sportsbook opened in August. There is talk about the app potentially getting permission to launch this month.
• Double Eagle Casino in Colorado, where legalized sports betting is pending a vote next month.
• Hawthorne Racecourse in Illinois, which sits less than 10 miles outside of Chicago. The track intends to build a casino under the state’s recent gaming expansion.