PointsBet clinches horseracing technology partnership with 1/ST TECHNOLOGY
Sports betting operator inks deal with Stronach Group subsidiary which includes US horseracing wagering app launch
PointsBet and technology supplier 1/ST TECHNOLOGY have agreed a broad-based partnership which will see the former launch a “one-of-a-kind” horseracing betting product in the US.
The agreement, signed by PointsBet USA subsidiary Premier Turf Club LLC, focuses on pari-mutuel tote and advanced deposit wagering (ADW) technologies.
It encompasses 1/ST’s products and services including 1/ST BET, Xpressbet, Monarch Content Management, and AmTote International.
Under the terms of the deal, PointsBet and 1/ST Technology will work together to launch an online horseracing wagering app in US jurisdictions where ADW is permitted.
In return, customers of 1/ST TECHNOLOGY’s customer-facing brands, Xpressbet and 1/ST BET will be cross sold into PointsBet’s sports betting and igaming products.
“The agreement encompasses a wide range of services and synergies across the companies which is set to deliver a fully integrated, white-label horserace betting experience to PointsBet customers,” the duo said in a statement.
“The partnership marks the first time in the United States that a tier-one sports betting company and horseracing company have aligned to power an independently owned and licensed ADW operator,” they added.
ADW is currently available in 39 states, several of which have formally legalized online horseracing betting, while others merely tolerate it due to a lack of laws addressing ADW bets.
PointsBet currently operates in Colorado, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, New Jersey, New York, Pennsylvania, West Virginia, and Virginia.
PointsBet group CEO Sam Swannell waxed lyrical about the completion of the deal and its benefits for the USA-based group subsidiary.
“Today marks a pivotal moment in the evolution of our US expansion strategy,” Swannell said.
“Horseracing has a unique role to play alongside sports betting in the United States, and despite already generating over $6.5bn per annum in industry online handle, we consider it an attractive category on the cusp of further expansion on the back of the ongoing shift from brick and mortar to digital.
“This will be supported through cost-effective offers and marketing, along with the utilization of our extensive US sports betting database,” Swannell added.