PointsBet Strikes Deal to Enter the US Horse Betting Market
PointsBet has been working hard to establish itself as a player in the legal US sports betting industry. Owned by PointsBet Holdings in Australia, the company’s mobile sportsbook is available in six states including New Jersey as the biggest legal sports betting market in the US.
Following in the footsteps of other US sportsbook companies, PointsBet will now expand into the US horse betting industry with its plans to acquire Premier Turf Club. This is an Advance Deposit Wagering (ADW) company.
Premier Turf Club is licensed by the Oregon Racing Commission. This acquisition will give PointsBet the ability to expand into online horse betting across numerous US markets as a key initiative in the company’s overall growth plan.
Ties between sports betting and horse racing include Churchill Downs’ ownership of TwinSpires sportsbook which was formally BetAmerica.
FanDuel is the biggest legal US sportsbook in terms of market share. Its parent company, Flutter Entertainment also owns and operates TVG.com as one of the biggest horse betting sites in the US.
Johnny Aitken is the CEO of PointsBet USA. In a recent news release, he commented:
“PointsBet is very pleased to join forces with Premier Turf Club. The combination of Premier Turf Club’s excellence in the space with PointsBet’s mature market Australian racing expertise favorably positions us as we enter the US horse racing market.
He went on to add:
“Today’s noteworthy acquisition complements our in-house approach while growing our premier product suite, and we are excited to welcome Premier Turf Club to the PointsBet team.”
Discover other states' online sports betting markets
- Find more out about a PointsBet promo code.
Todd Bowker acted as the general manager for Premier Turf Club. He will now assume the position of vice president of racing for PointsBet USA. It was also announced that all Premier Turf Club employees will retain their positions following the merger.
Premier Turf Club was founded 13 years ago and it is based in Dunedin, Florida. Bowker stated that the company was trying to find a way to enter the legal US sports betting market as a means to grow its presence.
He also noted that PointsBet’s extensive history in Australia’s horse betting industry made them “an ideal choice” as a business partner.
Over the past 13 years, Premier Turf Club earned the reputation of being “Racing’s Best Kept Secret” for its lower profile verse top-rated horse betting sites such as TVG.com, Xpressbet.com and TwinSpires.com. The company’s online betting site is BetPTC.com.
Through a company release, PointsBet made note that the US horse racing industry generates an annual betting handle of $12 billion. Only half of that figure is wagered through a ADW company. This points to a tremendous growth opportunity in the marketplace.
Currently, there are 38 states where ADW products are legally available.
PointsBet continues to make inroads into the legal US sports betting market through several strategic partnerships with major sports properties. These include the NFL’s Chicago Bears and MLB’s Detroit Tigers.
Partnerships with major US sports leagues include the NBA, NHL and PGA Tour. The NHL as well as NBC Sports now hold a minority equity stake in PointsBet as a result of their partnerships.