PointsBet announced this week it struck a multi-year dear to be an authorized sports betting operator of the NBA.
The well-known sports betting brand is one of a number of companies that teamed up with the NBA, including William Hill and DraftKings.
“As a tech company at heart, the PointsBet team is excited to work with a league as savvy and forward-thinking as the NBA,” PointsBet USA CEO Johnny Aitken said in a press release. “We’re certainly aligned in looking to present fans with the best experience possible.”
In addition to taking bets on NBA games, PointsBet will provide a win probability metric.
The league will use the metric on NBA.com and its social media channels, the release said.
NBA deal gives PointsBet more momentum in Indiana
This past summer, PointsBet and Indiana casino operator Penn National announced a partnership.
The deal makes PointsBet the official operator of the land-based sportsbook at Penn’s Hollywood Casino Lawrenceburg property.
The partnership would lock down PointsBet for 20 years.
The Lawrenceburg casino’s retail sportsbook is open and taking bets. Currently, it offers wagers for 13 different sports and provides the following types of bets:
- Straight bets
- Parlays
- Matchups
- Futures
- Props
- In-play
Eventually, PointsBet will take over the land-based book’s operation. That move will likely coincide with an online and mobile sports betting launch.
Though there is no timetable for PointsBet’s roll-out in Indiana. However, the Australia-based operator took a crucial step toward their launch this past month. In January, the Indiana Gaming Commission granted PointsBet a temporary vendor license.
Operator’s experience a bonus for Hollywood Casino’s handle
More than a dozen states have legalized or implemented sports betting over the past 18 months. PointsBet has launched in two of those states: New Jersey and Iowa.
To add brand recognition, they appointed firebrand former NBA guard Allen Iverson as a company ambassador.
As a result, PointsBet has considerable momentum heading into 2020. Indiana stands to benefit from PointsBet’s surging brand recognition.
In particular, Hollywood Casino Lawrenceburg’s sportsbook should enjoy a boost in handle from a PointsBet launch.
According to data from the Indiana Gaming Commission, Hollywood Lawrenceburg’s handle was $7.7 million in January. Its proximity to Cincinnati seems to be paying dividends in terms of retail handle, but it will take an online launch to contend with the properties beating it in the revenue department.
Hollywood lagged behind four casinos, three of which have partnerships with sports betting operators:
- Ameristar East Chicago Casino Hotel: DraftKings
- Blue Chip Casino Hotel Spa: FanDuel
- French Lick: BetRivers
A PointsBet launch should boost Hollywood Casino’s handle. Furthermore, PointsBet’s partnership with the NBA bodes well for Hollywood Casino. Basketball accounted for the biggest handle among all sports in January in Indiana.
Consequently, PointsBet’s NBA connection should lead to more bets during the NBA and NCAA seasons. First though, PointsBet needs to get its Indiana online betting app up and running.
