Tag Archives: pointsbet

Fanatics Betting and Gaming Closes its Acquisition of the US Businesses of PointsBet

Today, Fanatics Betting and Gaming (FBG), a subsidiary of Fanatics Holdings Inc., closed on the final state, Illinois, in its previously announced acquisition of the U.S. businesses of PointsBet.  PointsBet Holdings Limited (ASX:PBH) confirmed receipt of the final installment of the headline purchase price of $225 million and has transferred the remaining entities to FBG, including all of the remaining entities that make up PointsBet’s United States sports wagering, advance-deposit wagering and iGaming operations, Banach Technology, a copy of the PointsBet platform and a license to use that proprietary technology platform. 

The acquisition accelerated the company’s growth plans, making the Fanatics Sportsbook available to 95% of the addressable online sports bettor market in the U.S.  By the end of the month, Fanatics Betting and Gaming will be operating online in Arizona, Colorado, Connecticut, Indiana, Illinois, Iowa, Kansas, Kentucky, Maryland, Massachusetts, Michigan, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Vermont, Virginia and West Virginia, pending regulatory approvals. Fanatics Casino is available online in Michigan, Pennsylvania and West Virginia with New Jersey to follow. Fanatics Betting and Gaming will also provide the betting operations to nineteen retail locations, including the only retail sportsbook inside an NFL stadium at Commanders Field in Maryland. 

“The acquisition of the US businesses of PointsBet has super charged our expansion plans,” said Matt King, CEO of Fanatics Betting and Gaming.  “In addition to our migration of PointsBet customers and technology to the Fanatics Sportsbook and Casino platform, we have also added an incredibly talented team of passionate leaders from the ranks of PointsBet USA that have already made an impact on our business.” 

Mark Hughes and Aonghus Mulvihill will join the executive leadership team at Fanatics Betting and Gaming from PointsBet USA.  In addition, more than 200 PointsBet employees are joining FBG in a variety of roles and the company has taken over the leases of the former PointsBet offices in Denver, CO and Dublin, Ireland.  

Over the last year, Fanatics Betting and Gaming has been seamlessly migrating PointsBet customers onto the Fanatics Sportsbook and Casino platform and incorporating PointsBet’s risk management platform and quantitative driven trading models from Banach Technology to enhance its market offerings. The Fanatics Sportsbook is the most rewarding online sportsbook giving customers up to 5% of their wager back in FanCash.  The Fanatics Sportsbook makes being a fan easy with fast signup, easy betting and transparent withdrawals.  The design, speed and quality of the navigation experience rival the sports betting apps in the market today that were not built specifically for iOS and Android.  The newly designed Fanatics Casino is embedded in the Fanatics Sportsbook app and features a range of classic and popular casino favorites like roulette, slots and blackjack.  Fanatics Betting and Gaming has also produced exclusive casino content including the popular Fanatics Blackjack game developed in partnership with Boom Entertainment. 

PointsBet, NBA Announce Partnership Including New Win Probability Metric

PointsBet, a top-tier global sportsbook operator, and the National Basketball Association (NBA) today announced a new multiyear partnership, making PointsBet an Authorized Sports Betting Operator of the NBA.  The partnership marks PointsBet’s first with a professional sports league in the U.S.

As part of the partnership, PointsBet will integrate the first-ever Win Probability Metric across certain NBA platforms, including on NBA.com and NBA social media channels.  Powered by PointsBet, the Win Probability Metric will provide fans with real-time insight toward projected outcomes utilizing the same analytics and statistics that fuel the PointsBet sportsbook.

Additionally, PointsBet will have access to official NBA betting data and league marks across PointsBet digital betting platforms.

“As a tech company at heart, the PointsBet team is excited to work with a league as savvy and forward-thinking as the NBA,” noted Johnny Aitken, CEO of PointsBet USA. “We’re certainly aligned in looking to present fans with the best experience possible, and we look forward to enhancing the sports betting aspect via the Win Probability Metric Powered by PointsBet.”

“We are thrilled to partner with PointsBet on its first U.S. sports league betting partnership, as they continue to grow their business throughout the U.S.,” said Scott Kaufman-Ross, Senior Vice President, Head of Fantasy & Gaming, NBA. “PointsBet has a unique offering in the marketplace and we are excited to find new ways to engage with fans together.”

PointsBet and the NBA will also work together on best-in-class practices to protect the integrity of NBA games.

Penn National Gaming Announces Strategic Partnerships With Leading Sports Book Operators

Penn National Gaming, Inc. (PENN: Nasdaq) (“Penn National” or the “Company”) announced today that it has entered into multi-year agreements with leading sports betting operators DraftKings, PointsBet, theScore and The Stars Group for online sports betting and iGaming market access across the Company’s portfolio. Penn Interactive Ventures, LLC (“PIV”), a wholly owned subsidiary of the Company, will manage the relationships, in addition to operating the Company’s primary sports betting and iGaming initiatives through a new partnership with leading service provider Kambi.

According to Jon Kaplowitz, Penn National’s Sr. Vice President of Interactive Gaming: “We’re pleased to be providing the top names in sports betting, iGaming and poker access to our Company’s non-primary licenses to conduct these operations in exchange for a combination of upfront cash and equity, one-time market access fees and ongoing revenue sharing.”

Under the terms of the agreements, each “skin” partner will have the option to own, operate, and brand real-money online sports betting, poker, and casino offerings in each of the states outlined below, pursuant to a first, second or third skin, as applicable, and subject to license availability, state law, and regulatory approvals.

  • DraftKings:
    • States Covered: Florida (1st skin), Indiana (3rd skin), Missouri (1st skin), Ohio (1st skin), Pennsylvania (1st skin), Texas (1st skin) and West Virginia (2nd skin)
    • Term of agreement: 10 years, subject to a ten year extension
    • Key economic terms: Revenue share to Penn National based on net gaming revenue
  • PointsBet:
    • States Covered: Indiana (2nd Skin), Louisiana (1st Skin), Missouri (1st Skin), Ohio (1st Skin) and West Virginia (3rdSkin)
    • Term of agreement: 20 years
    • Key economic terms: Revenue share to Penn National based on net gaming revenue
    • Equity Position: PIV will take a strategic equity stake of 5.28% in PointsBet, with an additional $2.5 million access fee for Ohio, based on certain conditions, payable in cash or equity at Penn National’s option. In addition, PIV will receive 10,372,549 options, exercisable for two years, to acquire additional shares of PointsBet
  • theScore:
    • States Covered: Indiana (2nd skin), Iowa (2nd skin), Kansas (3rd skin), Louisiana (1st skin), Maine (3rd skin), Massachusetts (3rd skin), Michigan (3rd skin), Mississippi (1st skin), Missouri (2nd skin), Ohio (2nd skin) and Texas (2nd skin)
    • Term of agreement: 20 years
    • Key economic terms: Revenue share to Penn National based on net gaming revenue
    • Equity Position: PIV will take a strategic equity stake of 4.7% in theScore, with the potential for this stake to increase as additional market access fees become payable.
  • The Stars Group:
    • States Covered: Illinois (1st skin), Indiana (1st skin), Kansas (2nd skin), New Mexico (2nd Skin), Maine (2nd skin), Massachusetts (2nd Skin), Michigan (2nd Skin), Ohio (1st Skin) and Texas (1st Skin)
    • Term of agreement: 20 years
    • Key economic terms: Upfront payment of $12.5 million payable cash, with an additional access fee of $5 million in cash for Texas based on certain conditions; revenue share to Penn National based on net gaming revenue, with a one-time bonus based on net gaming revenue in 2023

“Sports betting represents an exciting new growth opportunity for Penn National,” said Mr. Kaplowitz. “Our skin agreements announced today will help fund the cost of launching and maintaining our primary sports betting and iGaming operations, both by way of the upfront consideration and the long term revenue sharing arrangements, which are consistent with industry standards and subject to minimum guarantees.

“By controlling our front-end product and relying upon our new partnership with Kambi for managed-trading services, we can create a lasting and differentiated online and retail product experience for our customers,” continued Mr. Kaplowitz. “When coupled with our industry leading regional casino footprint and database of over five million active customers, the Company is uniquely positioned to capitalize on the rapidly expanding sports betting and iGaming markets in a way that maximizes value to our shareholders. This strategy is exemplified in our recent iGaming launch in Pennsylvania, where we were the first iGaming operator to take wagers in the state. Additionally, we will be launching our first in-house retail sportsbooks at our Iowa and Indiana properties in the coming weeks,” concluded Mr. Kaplowitz.

PointsBet Announces Pricing of Global IPO

PointsBet, a premier global sportsbook operator, today announced the pricing of its initial global public offering of 37,500,000 shares under the Initial Public Offering (Offer) as described in the Prospectus dated May 23, 2019. The shares were issued at the offer price of $2.00 per share, and PointsBet will have 110 million shares on issue with 26,930,020 shares subject to mandatory ASX escrow conditions.

Launched in Australia in 2017, with an expansion to the United States in January 2019, PointsBet is a rapidly growing sportsbook with unique offerings and a bettor friendly approach. PointsBet has introduced a slew of bettor-first initiatives including, Good Karma Payouts, which provides bettors relief in the event of unlikely circumstances that sway the fate of the game, Early Payouts, and an exclusive $10,000 gameday guarantee for all NBA and NHL playoff games, as well as the entire MLB and NFL seasons.

“Similar to the way we allow fans to take part in sporting events, our public offering allows fans to take part in us, as a company and as a platform,” said PointsBet global CEO, Sam Swanell. “The global public offering comes at a time of rapid growth for the company and industry at-large and we are eager to utilize this momentum to continue to make sports betting an exciting and rewarding experience for all our customers.”

Headquartered in New Jersey, PointsBet’s footprint in the United States continues to expand. The company has a deal with Catfish Bend Casino in Iowa to unveil the company’s first physical sportsbook in America, as well as agreement with New York’s Tioga Downs Casino Resort subject to the passing of enabling legislation. The additional funds from the IPO will be used to finance continued expansion in evolving markets.

PointsBet Named Finalist for Inaugural Hashtag Sports Awards

Premier online bookmaker PointsBet announced today that it has been honored as a finalist in the inaugural Hashtag Sports Awards Presented by Budweiser. PointsBet’s Good Karma Payout initiative, which provides bettors relief in the event of unlikely circumstances that sway the fate of the game, is shortlisted in the Best Integrated Campaign category. Additional finalists include FIFA, Bose, and Los Angeles Galaxy with the winner being announced on June 25, 2019 at The TimesCenter in New York City.

In 2019, PointsBet’s Good Karma Kommittee has rewarded customers on the unfair side of losses including:

New Orleans Saints loss in the NFC Championship Game after the missed pass interference penalty against the Los Angeles Rams
San Jose Sharks Game 3 victory over the St. Louis Blues on an uncalled hand pass
North Carolina’s win against Duke when Zion Williamson left injured 33 seconds into the game
UCF’s dramatic loss in the second round of the NCAA Tournament to Duke
“When PointsBet launched in the US in January, we wanted to foster a new way of operating where we have the back of our clients,” said PointsBet USA CEO, Johnny Aitken. “Our Karma Kommittee who meet each morning at 7am to discuss the previous day’s sporting events and rule on ‘Good Karma Payouts’ are one of the many ways we look out for our customers and receiving a Hashtag Sports nomination is fantastic recognition for our team as we continue to grow our business.”

According to Hashtag Sports, the finalists were selected by a prestigious group of CMOs, executives, athletes, and other experts from across the global media and marketing community. Noteworthy members of the committee include NHL CMO, Heidi Browning, Portland Trail Blazers Guard and Pull Up Host, CJ McCollum, Spartan Race CMO, Carola Jain, NBC Sports CMO, Jennifer Storms, Cleveland Browns QB and Camwood Ventures Partner, Baker Mayfield, Take It There Host, Taylor Rooks, OBB Pictures CEO & Founder, Michael D. Ratner, LA Rams CMO, Ronalee Zarate-Bayani, Complex CEO, Rich Antoniello, and Philadelphia 76ers CMO, Katie O’Reilly.

This bettor-first initiative is just one of many seen by PointsBet customers, including their most recent NBA Early Payout, where all customers that bet on the Golden State Warriors to win the NBA title received payouts before the final round began. PointsBet also offers an exclusive $10,000 gameday guarantee for all NBA and NHL playoff games, as well as the entire MLB and NFL seasons.

For more information on PointsBet, Points Betting and how to sign up visit www.PointsBet.com.

PointsBet Announces Good Karma Payout, Refunds Bettors on Duke vs. UCF Game

Unsplash/Marcus Spiske

Top-tier sportsbook operator PointsBet today announced a Good Karma Payout in response to last night’s Duke vs. UCF game, after a dramatic, unexpected and heartbreaking ending with a missed tip-in by Aubrey Dawkins, that led the Duke on a continued path for the championship. PointsBet’s Good Karma Payout has refunded all UCF moneyline bets in the form of bonus bets as part of the payout.

Good Karma Payout, which provides bettors relief in the event of unlikely circumstances that sway the fate of the game, is yet another feature in PointsBet’s offering that proves the company has the back of the bettor. The sportsbook is also offering refunds to sports fans who backed UCF via other sportsbooks and didn’t receive refunded wagers on the game. Bettors will just need to sign up with code KARMA and send PointsBet their bet slip through social media to receive up to $100 in bonus bets.

“PointsBet’s Karma Kommittee knew this morning’s meeting was going to be eventful following last night’s heart-wrenching finish,” said PointsBet U.S. CEO Johnny Aitken. “We know how wildly disappointing a loss like that feels, and we’re here to have the back of all bettors when the outcome of a game just isn’t fair. This Good Karma Payout gives bettors a chance to redeem themselves as March Madness continues on.”

PointsBet has previously announced Good Karma Payouts as a result of the Karma Kommittee meetings, most recently for the Duke vs. UNC game, where Zion Williamson left with an ankle injury after 33 seconds. The Karma Kommittee also refunded all bets in January’s notorious blown pass interference call in the Saints vs. Rams NFC Championship game.

To begin betting with PointsBet, visit www.PointsBet.com. New customers will receive a free $25 bonus bet (no deposit required). In addition, new users will be given the opportunity to place two risk-free bets, with coverage up to $1,000. Customers will have up to $500 in losses covered for both their first traditional wager and their first PointsBetting wager, designed to give bettors a chance to try out PointsBet’s signature offering risk-free.

PointsBet Announces Early Payouts for All James Harden MVP Bets

Online bookmaker PointsBet announced this week that it has issued Early Payouts on all bets for James Harden as MVP of this year’s NBA season. The Early Payout comes nearly four months before the winner is officially announced in late June.

James Harden (photo credit: Keith Allison)

All PointsBet customers who wagered on Harden to win the 2019 MVP award have received payouts at the odds they placed their bets on those specific markets.

“Our number one goal right now is to provide unmatched value to our customers,” said PointsBet US CEO, Johnny Aitken. “There are many operators in the New Jersey space, but PointsBet is the only one offering unique promotions like these. We want to prove that no one has the bettor’s back like we do, and this is just another example of that philosophy in action.”

This bettor-first initiative is just one of many seen by PointsBet customers since their launch in January, including their most recent NBA Early Payout, where all MoneyLine NBA wagers were paid out early if that team led at Halftime, even if they went on to lose the game. The promotion produced many “Double Payouts,” or scenarios where the team that is leading at halftime goes on to lose the game. In each of those instances, both sides of MoneyLine bets on the game are ultimately graded as winners for bettors.

For more information on PointsBet, Points Betting and how to sign up visit www.PointsBet.com.