PointsBet arrives in New York following approval from NYGC

January 27, 2022

PointsBet is a newcomer to the online sports betting sector in New York. PointsBet produced its first bet at 10:09 p.m. Monday, becoming the sixth mobile sportsbook to go live in New York after completing the New York Gaming Commission's (NYGC) statutory and regulatory requirements.

PointsBet Sportsbook now operates in nine states, with New Jersey, Illinois, and Michigan being the most prominent. After the state's gaming control board granted the company a sports betting license on Wednesday, PointsBet is expected to launch in Pennsylvania within the next few weeks.

BetRivers, Caesars Sportsbook, DraftKings, and FanDuel, four prominent New York sportsbooks, went into effect on Jan. 8, the first day companies could accept mobile sports wagers in the city.

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Then, on January 17, BetMGM joined the race when it went online in Arizona, the country's fourth most populated state, only hours before the NFC postseason game between the Arizona Cardinals and Los Angeles Rams on Monday night.

When prospective customers from New York visited the national PointsBet website last week, they were directly led to a promotional page with a glitzy pre-registration offer. The promotion included up to $2,000 in "risk-free bets," as well as an additional $100 in free bets.

Partnership with NBCUniversal

PointsBet signed a multi-year deal with NBCUniversal in August 2020, making the company the official sports betting affiliate of NBC Sports.

NBCUniversal obtained a 4.99 percent equity stake in PointsBet as well as an estimated 66.88 million choices that will grow in August 2025 as part of the five-year agreement.

Given NBC's branding strength, internet offerings, and expansive sports roster, PointsBet US CEO Johnny Aitken called the cooperation a transformative agreement when it was announced.

“No one has a better brand than the Peacock and NBC Sports, to have a true association with them will be extremely powerful,” Aitken told Sports Handle.

When PointsBet filed a bid proposal to the NYGC in July, the Australian company highlighted its collaboration with NBC as a major selling point as to why it deserved to be granted valuable mobile sports betting permit in the Big Apple.

By November, the board had granted conditional licenses to nine online sports betting companies, five of which were members of a Kambi-led consortium that had defeated PointsBet's bid.

PointsBet established itself a place in the US industry with its novel spread-betting approach, which received glowing reviews from both sharp and recreational gamblers. When the Ravens crushed the Dolphins 59-10 in September, one bettor won $600,000 on the firm's PointsBetting platform. The Ravens were 6-point favorites in the first week's meeting.

The PointsBetting wagers have a unique risk-reward concept that users won't find at any other sportsbook in the country. Customers who bet against the spread decide how much they're willing to risk per point.

So, if a match has a 3-point spread and the favorite wins by ten points, bettors can win or lose 7 times their PointsBetting stake.

On January 11, PointsBet stated that it had begun pre-registration activities in New York. PointsBet stated at the time that it planned to launch in New York by the end of January after receiving the necessary final approvals from the NYGC.

Gus
Gus Anderson
Gus Anderson is a gambling wizard. As a kid he dreamt about becoming a Tennis, Hockey and Golf professional but ended up as a gambling professional with focus on both sports & casino.