After more than a month of serenity, the New Jersey mobile sports betting market will soon, yet again, expand.
PointsBet, an Australian online bookmaker, announced Oct. 8 that it will soon debut an American product out of the Garden State. Courtesy of a partnership with Meadowlands Racetrack, PointsBet anticipates rolling out a mobile NJ sports betting product in November.
To help the company do so, PointsBet has brought in “The Answer” it needed, as NBA Hall of Famer Allen Iverson will help introduce the product to the sports betting market.
More about the NJ sports betting product
Through PointsBet, wagering will be available 24/7, according to the release, on different sports all over the world, including the major four leagues in the US.
Per the release: “PointsBet separates themselves by rewarding accuracy; the more accurate your bet, the more you can win.”
As for Iverson, PointsBet labeled him as “the perfect ambassador” because of his “fearless approach on the court and his ability to challenge the opposition.”
“We’re over-the-moon to work with an athlete of Allen’s caliber — when people think of AI, they think of a renegade and cultural phenomenon that was known for his flash and style on and off the court. For those reasons, we saw the partnership with Al as a perfect fit to represent the PointsBet brand,” said PointsBet US CEO Johnny Aitken. “Our forthcoming commercials show that Allen is ‘The Answer’ for more than just basketball.”
The Answer already had his first assignment.
The $1 million challenge
While the wait for a mobile sports betting platform continues, Iverson introduced what PointsBet called a “free-to-enter $1 Million NBA Sweepstakes.”
Started Oct. 8, this contest requires users to select the top eight seeds in both the Western and Eastern conferences. Select accurately, and in the correct order, and the seven-figure payday is won.
The contest, available only to residents of Pennsylvania and New Jersey through Oct. 16, can be accessed via the PointsBet website.
PointsBet + Meadowlands
The Australian bookmaker announced in July its intention to enter the US legal sports betting market via a skin deal with both Meadowlands and Tioga Downs in New York.
At the time of the announcement, PointsBet wanted to launch an edgy sports betting product, which, we can assume, would make up for a late entry into the mobile industry. After all, eight online products already exist in New Jersey. And the market is on a hot streak in terms of revenue and handle.
Launched in 2017, PointsBet reaches its long-established goal of stepping onto American soil.
“It was all about America,” PointsBet CEO Sam Swanell told Legal Sports Report in July. “Australia was very much proof-of-concept for us. We always had one eye on America.”
The product, Swanell shared, would offer traditional sports betting offerings as well as the company’s signature product: Points Betting.
This feature is a high-risk, high-reward offering, as a bettor’s profit or loss depends on how close the final number is to the spread. For example, if a user bets $10 on the over, and the total ends 10 points over, that nets users $100. If the total lands 10 points under, users lose $100.