As mentioned, PointsBet came to the United States from Australia shortly after the Professional and Amateur Sports Protection Act was overturned. Today, it has online sports betting in 14 states and an online casino available in four of them.
PointsBet USA was acquired by Fanatics, the leading sports memorabilia and merchandise retailer, in July 2023 for $225 million. PointsBet USA was hemorrhaging money, set to lose well over $100 million in the second half of 2023, which made the transaction easier. Now, the sites are rebranding from PointsBet to PointsBet, A Fanatics Experience.
With those rebrands, new players who sign up for an account and wager $50 will get an official sports jersey straight from Fanatics.
PointsBet has always been an excellent sportsbook, and their PointsBetting feature makes for a sports betting experience unlike any other.
PointsBetting is a market where you’re awarded based on how correct your predictions for an outcome are. The user interface design is simple and easy to navigate as well. One downfall of PointsBet over the years has been a lack of promotions for existing players, but this could change with Fanatics coming in.
How PointsBet Sportsbook Became Legal
PointsBet was first launched in the United States in New Jersey. The initial announcement came in 2018 before officially launching in January 2019. This was a big deal at the time as PointsBet isn’t a US-native outlet; it’s from Australia. It partnered with Meadowlands Racetrack. With it came its unique betting market, PointsBetting. PointsBet also landed in Iowa in 2019.
From here, PointsBets added three states in 2020, three in 2021, four in 2022, and one more in 2023.
Then, in mid-2023, PointsBet USA agreed to sell its operations in the country to Fanatics due to financial losses. According to the Australian Financial Review, PointsBet was scheduled to lose between $115-$123 million in the second half of 2023.
How PointsBet Casino Became Legal
As mentioned earlier, PointsBet first launched in the United States as an online sportsbook in New Jersey in 2019, and two years later, its first online casino launched in the same state in May 2021. A couple of months later, it launched in Michigan, partnering with Northern Waters Casino on July 23, 2021.
Then, in 2022, it launched in West Virginia and Pennsylvania in January and April, respectively, partnering with Hollywood Casinos in both states.