PointsBet Obtains Indiana Online Sportsbook License
The newest market entrant
PointsBet got the green light from the Indiana Gaming Commission for a temporary vendor license. This sees the Australian gambling operator enter the sports betting space of the third US state to date.
PointsBet has gone through all the necessary steps to receive a full license. It will now operate on a temporary permit until it is allowed to fully launch in Indiana. The brand’s mobile sportsbook will need to undergo testing by the authorities before it obtains the final license.
The company’s director of communication, Patrick Eichner said, “Indiana represents a state of great opportunity, and we look forward to providing more of the sports-loving folks in the Midwest with the premium product they deserve.”
There is no indication of when PointsBet will have its online sportsbook up and running for bettors in Indiana.
Plans for US expansion
PointsBet already runs sports betting operations in New Jersey and Iowa. It has mobile sportsbooks in both states, as well as its first US retail outlet in Iowa. The first PointsBet mobile sportsbook in the country launched in New Jersey in December 2018.
The company is planning to continually expand across the nation, with deals already in place to open sportsbooks in Michigan, Illinois, and Colorado.
Through its Indiana offering, PointsBet operates as a skin affiliate of the state’s Hollywood Casino. The deal was struck as part of a partnership it has in place with Penn National Gaming.
In July 2019, PointsBet gave a 5.3% company stake to a Penn National Gaming subsidiary, in return for the right to open a sportsbook in Penn National facilities in West Virginia, Ohio, Missouri, Louisiana, and Indiana. Sports betting is available in Indiana and West Virginia, while Ohio, Missouri, and Louisiana have yet to legalize the activity.
Continuing success in Indiana
Indiana has seen significant success since online sportsbooks opened for the first time on September 1, 2019. Retail sportsbooks were gradually rolled out in the subsequent months.
The state has successfully captured a good share of the market, particularly residents of nearby Illinois, who are still waiting for sportsbooks to launch in their state.
Sportsbooks in Indiana saw a total handle of $161.8m in December 2019, with a revenue of $12m generated by sportsbooks. Of this total handle, $110.6m (68%) came from mobile sportsbooks.