PointsBet unleashes standalone horseracing app
1/ST Technology-powered product goes live in 25 US states ahead of this weekend’s Kentucky Derby
PointsBet has unveiled a new horseracing betting product, PointsBet Racing, which has gone live in 25 states in the run up to the sport’s Triple Crown.
The app, which is powered by PointsBet’s US partner 1/ST Technology, offers parimutuel betting for over 180 tracks in the US, UK, Ireland, Hong Kong, Japan, and Australia.
PointsBet signed a partnership with 1/ST in November 2022 covering the development of the PointsBet Racing app, with 1/ST customers being cross-sold PointsBet products as part of the strategic deal.
Launched just days before the Kentucky Derby at Churchill Downs, PointsBet Racing includes live streaming and replay capabilities, sign-on from a single user account, and full integration with PointsBet’s other digital products.
Also included are top statistical and favorite factor compilation, new user educational tools, as well as deposit and withdrawal capabilities.
PointsBet Racing is now available in 25 states including Colorado, Florida, Louisiana, Ohio, Pennsylvania, Rhode Island, South Dakota and Tennessee.
Additionally, PointsBet has advanced deposit wagering (ADW) license applications pending in several other states including where PointsBet is currently live with online sports betting and/or casino.
ADW is currently available in 39 states, several of which have formally legalized online horseracing betting, while others tolerate it due to a lack of laws addressing ADW bets.
PointsBet USA CEO Johnny Aitken lauded the rollout of PointsBet Racing as opening the door to significant diversification for the firm from its core sports betting and igaming business.
“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 horseracing market,” Aitken said.
“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 horseracing in the US and we are excited to get live in advance of one of the most important racing events of the year,” he added.
PointsBet is currently exploring the potential sale of part, or all, of both its US business and its Australian operations.