West Virginia Welcomes PointsBet Branded Sportsbook

The rapid growth of the US legal sports betting industry is maintaining its solid pace despite the summer seasonal slowdown of wagering activity being seen in almost every jurisdiction in the country. The state of West Virginia is the latest to see a new product enter their market with Australia-based, premier global online gaming provider PointsBet going live there on Friday.

PointsBet hasn't been shy about their desire to be mentioned as a top-tier provider in the US market. Prior to West Virginia, they were players in New Jersey, Iowa, Indiana, Illinois, Colorado, and Michigan and had been a part of the conversation in most, if not all of the nine new jurisdictions slated to come online within the next six weeks, prior to the NFL season.

"Launching in West Virginia is a special moment for PointsBet and presents another tremendous opportunity we are excited to attack," said Johnny Aitken, PointsBet USA CEO. "As always, PointsBet will provide this passionate, sports-loving community with the fastest and most reliable online sports betting product across every customer touchpoint. We are thrilled to now introduce West Virginian sports bettors to PointsBet's competitive advantages in owning our technology end-to-end, such as our unrivaled speed and ease of use as well as the deepest slate of betting options in the world for every NFL, NBA, MLB, NHL, WNBA, and PGA TOUR contest."

What Pointsbet Is Getting Into

While not quite a Heavyweight betting state, West Virginia has to be considered one of the more successful "small-state betting jurisdictions" in the country.

The state's nearly 1.8 million residents (ranked 40th in the nation) have been avid supporters of their state's sportsbooks since launch, allowing the industry to generate $518 million in bets during the last fiscal year that ended June 30.

June's monthly handle provided a decent snapshot of how the West Virginia market has performed during a time of widespread summer wagering slowdowns and limited sports betting menus. The state saw a 17.4% month-to-month handle increase in June, to nearly $30 million. Revenues over that 30-day period spiked 29%.

The West Virginia sports betting market is as healthy as any in the country - something that PointsBet recognized and acted upon.

The PointsBet Angle

PointsBet brings yet another elite name to the West Virginia scene and a trusted one at that. The Australian-based provider has some impressive backing and will be a major player in the small but competitive market. West Virgina bettors will be greeted with attractive promos from PointsBet and will hopefully be retained by the continuation of impressive incentives.

PointsBet's relationship with NBC Sports could be a game changer in West Virginia, as in other smaller jurisdictions. Immediately, through NBC's unparalleled television and digital assets, PointsBet will have a reach that no other sportsbook operating in the state will enjoy. NBC's Spanish-language through Telemundo broadcast stations will also help reach new audiences in the state.

iGaming

It looks as though PointsBet won't be stopping with just an online sportsbook presence in West Virginia. There are immediate plans to launch the state's fifth online casino under the PointsBet's name once all regulatory and licensing approvals are completed. Target date for a PointsBet online casino launch date is the end of 2021.

PointsBet currently runs successful online casinos in New Jersey and Michigan and will be entering a West Virginia market that saw a 27% month-to-month increase in online casino handle in June and a 10% revenue increase over that time period.

Still Room to Grow

Don't expect PointsBet's expansion plans to stop with West Virginia. The company has been in talks with numerous jurisdictions about opening up branded sportsbooks in new jurisdictions. Included in that are Canada, which signaled their desire to expand their sports betting offerings last week, and Arizona, which hopes to go live with as many as eight other states by September 9, in time for kickoff of the bread-and-butter NFL season.

As it stands, PointsBet is live in seven US jurisdictions but has market access in 16. There is still a ton of room to grow their brand in just the states they have a presence. Expect to hear the PointsBet name a lot going forward as they try to penetrate new jurisdictions and grow their already impressive brand