Just in time for the Kentucky Derby, PointsBet announced the launch of its horse racing product, PointsBet Racing.
In October 2022, 1/ST TECHNOLOGY partnered with PointsBet to power its pari-mutuel wagering platform for PointsBet Racing.
What does PointsBet Racing include?
Now live in 25 US states, this product will allow PointsBet players to access an “all-in-one” horse racing experience, including:
- Live streaming and replay capabilities
- Single-user account sign in
- Deep link integration across PointsBet digital products
- Statistical and favorite factor compilation
- New user educational tools
- Seamless deposit and withdrawal capabilities
PointsBet also has advance deposit wagering on racing (ADW) applications pending in numerous other states. That includes the states where PointsBet already offers online sports betting or an online casino.
PointsBet Racing is a significant milestone in the company’s efforts to expand
According to the company’s press release, PointsBet Racing features “the world’s top tracks, including content from each leg of the coveted Triple Crown, with over 180 tracks total from the US, UK, Ireland, Hong Kong, Japan, and Australia.”
“The launch of PointsBet Racing marks a significant milestone in our efforts to expand our product portfolio and capture the tremendous potential of the US horse racing market.
We are optimistic about replicating the success we have seen in mature global betting markets where racing is a huge engagement channel next to sports. This new offering will contribute to the growth of online horse racing in the US and we are excited to get live in advance of one of the most important racing events of the year.”
Will PointsBet leave the US sports betting market?
While the US online gambling market keeps expanding, PointsBet has hired investment bank Moelis & Company to manage a sale of its North American operations.
Despite constant efforts to cut costs and provide an exclusive betting experience, PointsBet could end its US operations. The company is mainly looking to exit the US because of the increasingly competitive sports betting landscape.
PointsBet even reported growth in the first quarter of 2023, with revenue increasing 103% year-over-year. But more than that may be needed to keep PointsBet in the US.
Apart from the US, the company is operating in Australia, Canada and Ireland.