PointsBet Launches its First Online Casino in Michigan
PointsBet, Australia’s fastest-growing bookmaker, has confirmed the launch of its first online casino, just hours after the Michigan Gaming Control Board announced its approval.
Pointsbet Rolls Out Its First iGaming Platform in Michigan
On Tuesday afternoon, PointsBet, an Australian sports betting company, has announced the launch of its first online casino in Michigan, just hours after the Michigan Gaming Control Board announced its approval. PointsBet is the state’s 13th online casino option. At the beginning of the year, the operator launched online sports betting in the state and chose Michigan as its first US jurisdiction for its online casino.
Players in Michigan will now have access to the operator’s selection of iGaming titles after it has secured its approval from the MGCB.
PointsBet Chief Executive and Managing Director Sam Swanell said that the launch of iGaming complements the company’s existing sports betting products and removes the disadvantages with cross-sell customer acquisition and player retention, other iGaming operators have.
PointsBet Focused on Innovation in Michigan
PointsBet offers sports betting in other states such as Illinois, New Jersey, Iowa, Indiana, Colorado, and Michigan.
The company is focused on innovation in Michigan, including its pilot tribal collaboration. It already operates with online sports betting in Michigan via its official partnership with the Lac Vieux Desert Band of Lake Superior Chippewa Indians, a tribe of the Upper Peninsula. The operator signed the deal last year with the tribe, which operations in Northern Waters Casino Resort in Watersmeet.
Swanell stated that over the past 18 months, the company assembled a professional iGaming team, which built the company’s in-house proprietary iGaming platform and administrative tools. He also stated that he is thrilled to announce the company’s inaugural launch in Michigan.
Pointsbet with 246% Revenue Increase in Q3 FY 2021
PointsBet and Paysafe recently announced the extension of their partnership in Michigan. The operator uses Paysafe’s services in 5 regulated US markets. The operator’s customers in Michigan can deposit money using credit and debit cards processed via Paysafe’s system.
PointsBet has released an impressive quarterly cash flow report with a 246% increase in Q3 FY 2021 revenue.
The online casino launch is PointsBet’s first iGaming roll-out in the US. The operator has set its platform to go live in New Jersey next month.
Michigan Raises $95.1 Million in iGaming Revenue in March
Michigan has raised $95.1 million in iGaming revenue for March, which adds up to a total of $204.2 million in the first 69 days, since its launch in January.
PointsBet is the 5th online sportsbook, taking 2.9% ($22.6 million in bets) in Michigan’s market share. The other sportsbook operators in the state referred to as the “Big Four” are BetMGM, FanDuel, DraftKings, and Barstool Sportsbook.
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