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PointsBet.com was one of the first sportsbooks to begin obtaining licenses in the US and it looked like one of the more promising brands. In recent months the Australian-based company was looking to offload the PointsBet US brand.
PointsBet is legal in the following 14 states: Colorado, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Michigan, New Jersey, New York, Ohio, Pennsylvania, Virginia, and West Virginia.
PointsBet Calls off Betr Sale Talks
(April 28, 2023) - PointsBet says it has called off buyout discussions with News Corp-backed wagering group Betr, with the company’s managing director, Sam Swanell, confirming it was in discussions with online bookmakers in North America about a potential deal.
On Friday, the company said the volume of wagering was down 30 per cent to $1.3 billion for the three months to March 31, compared with the same period last year. PointsBet had negative cash flow of $88 million for the quarter, but is sitting on more than $251 million of cash reserves.
PointsBet calls off Betr sale talks, confirms North American interest https://t.co/iKlSP3ou4X
— Jackie (clevfan) (@jackiehaz) April 28, 2023
PointsBet US Sports Betting Business Up for Sale Amidst 'Ferocious' Competition
(April 18, 2023) - "PointsBet has appointed Moelis & Co as it attempts to accelerate the sale of its North American business as a long-flagged exit from its Australian bookmaking operations loses steam"
And now it was revealed just five days later (April 18), PointsBet is placing its US sports betting business up for sale amidst "ferocious" competition. The company is said to be the 7th biggest in the US regulated sports gambling sector.
Discussions with News Corp-backed Betr related to its Aussie business have stalled since they were initiated back in December. Read More Here
PointsBet Severs Ties With University of Colorado Under Intense Pressure
(March 31, 2023) - The U.S. gambling industry is adopting a new responsible marketing code that will ban sports books from partnering with colleges to promote sports wagering.
The University of Colorado Boulder’s 2020 deal with sports book PointsBet included a $30 referral bonus every time someone signed up on PointsBet with the university’s promo code and placed a bet. That university has since ended the referral bonus program and PointsBet has since ended its partnership with The University of Colorado Boulder.
“PointsBet and the University of Colorado have decided it is mutually beneficial to end their partnership at this time. Both parties are thankful for the joint efforts throughout the relationship and wish the best for each organization going forward,” PointsBet issued in a statement this week. Read More Here
NBCU and PointsBet Extend Betting Deal: Book Must Spend $58 Mil Per Year on Marketing
(January 31, 2023) -PointsBet has been trying to expand its U.S. presence since launching in New Jersey in 2019 and has been up against some tough foes the likes of DraftKings, FanDuel, Caesars and BetMGM. These are widely consider the "Big Four".
But there is trouble looming on the horizon in the form of ad spend. PointsBet will be required to spend roughly $58 million per year on marketing with NBCU channels. Perhaps that's a bargain. They were initially required to pay $90 million per year. Read More
It's Time to Acknowledge 'Dark Days Ahead' for Legalized Sports Betting in US
(January 5, 2023) - Sports betting industry experts are beginning to sound the alarms....and with good reason. It seems a week does not go by now without a controversy in the sector.
Last month, DraftKings reported thousands of customer betting accounts had been compromised. To make matters worse, many of the impacted customers complained of an inability to get through to support.
This week, Ohio Governor Mike DeWine warned of severe consequences should these antics continue in his state. Well, it only took less than 24 hours since the first bet was placed January 1 for the flood of commercials to raise DeWine's eyebrows. Read More
Universal Disgust at PointsBet Brees Lightning Strike Stunt FAIL
(December 2, 2022) -Australian sports betting firm PointsBet is taking a lot of heat heading into this weekend following a viral advertising stunt that left sports fans and others horrified.
Reports first surfaced that NFL commentator and former New Orleans Saints quarterback Drew Brees had been struck by lightning while shooting a commercial for the online sports betting company, which is licensed in a handful of U.S. states including New Jersey and Colorado.
The commercial shoot reportedly took place along the Catatumbo River near Lake Maracaibo in Venezuela. Read More Here
Sports Betting Apps Flood U.S. College Campuses as NCAA Bans Ads During Games
(March 18, 2022) -
Bloomberg News this week looked at how sports betting apps were flooding university campuses this March Madness, prompting concerns from school officials and others.
Other universities have taken an entirely different approach. LSU and MSU are among the two schools making appearances in this year's NCAA Tournament that have reached lucrative advertising agreements with wagering apps owned by both Caesars Sportsbook and PointsBet. Read More Here
- Ean Lamb, Gambling911.com
