Australian online bookmaker PointsBet has announced that its subsidiary, Premier Turf Club (BetPTC) has signed a deal with 1/ST Technology, a division of The Stronach Group, a North American thoroughbred horse racing company.
ADW product expected to launch in early 2023
The deal will see the company launch a fully integrated Advance-deposit Wagering (ADW) horse racing service for all PointsBet customers across the United States.
PointsBet to Launch ADW Horse Betting Across USA Following Deal With 1/ST Technology“Today marks a pivotal moment in the evolution of our US expansion strategy. Horse racing has a unique role to play alongside sports betting in the United States, and despite already generating over US$6.5 billion per annum in industry online handle, we consider it an attractive category on the cusp of further expansion on the back of the ongoing shift from brick and mortar to digital.
PointsBet to Launch ADW Horse Betting Across USA Following Deal With 1/ST Technology
As part of the agreement, 1/ST TECHNOLOGY will provide horse racing betting products and content solutions which will be fully integrated within the PointsBet sportsbook app. This will be available in all states where PointsBet is licensed to operate. PointsBet has also revealed that it will launch a separate stand-alone ADW app in eligible states where the company does not currently offer sports betting.
PointsBet’s new horse racing wagering service including the standalone app is expected to launch in early 2023.
PointsBet to Launch ADW Horse Betting Across USA Following Deal With 1/ST Technology PointsBet to Launch ADW Horse Betting Across USA Following Deal With 1/ST TechnologyPointsBet will pay 1/ST TECHNOLOGY a portion of ADW revenue. There are no upfront payments or minimum guarantees over the term.
PointsBet to Launch ADW Horse Betting Across USA Following Deal With 1/ST Technology