PointsBet expansion into New Jersey
Australian-based online gambling firm PointsBet has achieved expansion into the US state of New Jersey, following a significant amount of support for the brand in the country.
Since they entered the highly competitive and ambitious US online gambling market, PointsBet has gone from strength to strength, and because of this, New Jersey has come across the radar, which is one of the states that has had online gambling approval for the longest period of time.
In addition, the state plays home to the major gambling resort of Atlantic City, which attracts a significant amount of players every year, while many of those casinos have also developed successful online offerings in recent years.
As a result of this, PointsBet has sought to gain access to a share of the online market in New Jersey, which for the last couple of years, has been thriving online. Indeed, during the COVID-19 global pandemic, the state witnessed a considerable uplift in the number of players logging on to online casino sites.
This prompted other states to push forward with approving legislation for online gambling, due to the fact that they could make a considerable amount of money in taxes from the casino sites.
Indeed, this was also a catalyst for global brands to expand into the US market, not least of all PointsBet, which has been especially successful so far, when you take into account the company’s performance in the state of Michigan, which only had online gambling approved in January 2021.
Great News for PointsBet
The US market so far has been largely dominated by US-owned firms, mainly sites that have been developed as an add on to company’s land-based casinos, while the UK market has also provided strong competition.
As a result, it is good news for the Australian online gambling market and especially PointsBet. This latest move into one of the most lucrative online gambling markets in the US, will provide the company with the opportunity to really challenge the big operators. With a vast percentage of the market still up for grabs as well, PointsBet will be able to take advantage of their highly intuitive branding and superb marketing in order to increase their customer acquisition.
Already PointsBet has some good advantages over their competition as well, such as offering more renowned games to players from more prestigious software providers and this could certainly act as a catalyst.
The brand also benefits from being owned by Flutter Entertainment, which is a major player in the online gambling industry, with huge brands of PaddyPower, Betfair and Pokerstars, to name just a few under their umbrella.
It means that they can leverage this expertise to help PointsBet gain a strong foothold in what is seen as a highly competitive market.
More states for PointsBet?
Depending on the success of PointsBet in New Jersey, it could well lead to them entering into new states as legislation gets passed, with New York likely to be on their radar.
A state that has a significantly high level of disposable income, when you consider the fact that it plays home to hundreds of Wall Street hedge fund managers and investment bankers, the potential here for PointsBet to really stake a claim is certainly very palatable.
Written for onlinecasinosrealmoney.co.nz by Adiela de Bruyn on 16-08-2021