PointsBet is now officially available to online gamblers in New Jersey, giving these punters more variety than they’ve ever had. As of now, New Jersey gamblers now have a total of 34 online casinos to choose from, which is just about the largest number of online operators in the country. PointsBet launched its iGaming product first in Michigan this May before proceeding to share the casino with New Jersey bettors.
PointsBet has been offering sports betting to residents in New Jersey for a while now. As such, punters in the Garden State are already familiar with the brand. In particular, PointsBet stands out from other sports betting operators in the Garden State due to its unique points betting system.
PointsBet is a popular brand in general, especially in its native Australia, which is the fastest-growing book. The PointsBet sportsbook launched in New Jersey in 2019 at a time when the market was becoming crowded fast. It entered the elite New Jersey gambling market by teaming up with both Tioga Downs and Meadowlands.
In addition to traditional wager types, PointsBet introduced a new offering never seen in the US market before known as Points betting. This system rewards punters with more money when they select correct outcomes. Thanks to this high-risk, high reward system of points betting, how much a punter wins or loses is determined by how precise their pics are.
With its premier points betting system as well as its iGaming offering, PointsBet is gearing up for a rapid expansion all over the country. Now that it is expanding into iGaming, PointsBet will be able to further attract more customers as the iGaming will naturally complement its already vibrant and popular sports betting product.
What we cover
Already launched in Michigan
After receiving approval from the Michigan Gaming Control Board, PointsBet launched its iGaming platform for the first time in New Jersey not too long ago. It launched its sports betting platform for the first time in early 2020, March 2020 to be specific, just days before the pandemic forced all brick and mortar businesses to shut down.
PointsBet now has access to the country’s biggest iGaming markets namely, New Jersey, Pennsylvania, West Virginia, as well as Michigan. PointsBet launched as the 13th online casino in the burgeoning Michigan online betting market, which has proven to have quite a large appetite for online wagering.
Apart from online gaming, PointsBet also offers sports betting in Michigan, New Jersey, Colorado, Iowa, as well as in Indiana. In Michigan, Pointsbet operates thanks to its partnership with the Lac Vieux Desert Band of Lake Superior Chippewa Indians, which is a tribe of the Upper Peninsula. Thanks to this pilot partnership with the tribe, PointsBet’s growth is expected to be accelerated.
Pointsbets’ new iGaming platform is proprietary, which means that it was assembled by a professional in-house iGaming team. PointsBet’s iGaming platform utilized Paysafe’s services, which stand regulated in more than 5 markets in the country. As more and more states continue to welcome iGaming, PointsBet’s future in the iGaming market has never looked brighter.
As time progresses, PointsBet has plans to launch its products in additional states including West Virginia, Arizona, Tennessee, Kansas, Pennsylvania, Louisiana, Missouri, Maryland, as well as Mississippi. Currently, PointsBet’s North America is headquartered in Colorado.
The rise of iGaming
This year is proving to be a dynamic one for the iGaming industry as more and more stakeholders look for innovative ways to invest in the industry. The pandemic has thrown numerous businesses into disarray and yet; iGaming is one of the very few industries that have been thriving as a result of the ongoing contagion.
In the next coming years, iGaming is expected to soar, with numerous opportunities waiting in store for businesses and entertainment companies such as gambling operators. With the growing number of opportunities, shockwaves are being sent all over the country as more states propose new laws to expand or welcome iGaming.
The rate at which regulated sportsbooks have been expanding in the country supports the notion that the country is more than ready and willing to welcome iGaming. Sportsbooks have done so much to transform the economic state of the country. However, during the pandemic, it has been online casinos that have allowed the struggling brick and mortar casino industry to survive.
Furthermore, even though sportsbooks are profitable, they operate at much lower margins and legislators and stakeholders are all realizing it. That’s why successful companies such as PointsBet that already have successful sportsbook brands in place are now expanding into iGaming.
iGaming still has a difficult battle to deal with
While sports betting and an unprecedented pandemic have certainly helped states to realize the value of legal iGaming, there is still a lot of convincing that needs to be done. Online casinos still face heavy criticism from legislators all over the country. For instance, in states such as Utah and Hawaii gambling of all kinds, retail and online, remains banned. In Hawaii, poker is only allowed in private residences.
States such as New Hampshire, Georgia, Utah Kentucky, South Carolina, Vermont, and Virginia all ban land-based and tribal casinos. The only states that enjoy regulated internet betting are few. So far, the states that enjoy iGaming include Michigan, Iowa, Delaware, Rhode Island, West Virginia, New Hampshire, New Jersey, Nevada, Illinois, and California.
Final Thoughts
As time progresses, it is clear that states can no longer ignore the might of iGaming. The pandemic has done a serious number on state budgets and many legislators are looking for ways to fill up the state coffers that have been dwindling ever since news of the pandemic broke early last year.
The rate at which the technology is advancing means that the iGaming industry explosion is expected to start sooner rather than later. As technology keeps getting better and better, all kinds of iGaming services will not only offer better experiences for their customers but also enhanced visual and audio design, which is naturally going to attract even more states and investors looking to take advantage of the growth of iGaming in the country.
