If the Indianapolis Colts were to advance to Super Bowl LIV, Indiana residents and visitors may have a new option for where to place a wager on their home-state team. The PointsBet Indiana sportsbook is eyeing that unofficial holiday for its launch.
While the Indiana Gaming Commission will determine whether those plans come to fruition, PointsBet has a good chance. Its growth in New Jersey and Indiana’s welcome to multiple operators should work in its favor.
Details on the PointsBet Indiana sportsbook plans
PointsBet CEO Sam Swanell recently made the intentions of his company clear. At their annual meeting, he announced Super Bowl Sunday as the target date for PointsBet going live in the Hoosier State.
While it’s possible the mobile sportsbook could start participating in legal Indiana online sports betting prior to Feb. 2, it’s not likely to happen too much sooner. That particular target date was likely selected by PointsBet for multiple reasons.
For one, the Super Bowl is one of the biggest sporting events in North America. It could prove a perfect opportunity to market the sportsbook’s launch.
Also, it’s possible that PointsBet still needs time to tailor its product. Although the New Jersey mobile sportsbook is already live, Indiana has different technical requirements.
Finally, it’s possible the IGC needs time to review PointsBet to ensure compliance with all the state’s regulations. Feb. 2 should allow enough time for that.
The company’s previous success in New Jersey could work in its favor for an on-time launch. The IGC is much more likely to grant a license to Indiana sportsbook operators with proven track records.
PointsBet’s growing market share in the Garden State
At the same meeting, Swanell shared that his company’s place in the New Jersey mobile sports betting market has grown considerably. PointsBet was up to 5.4% of total handle in the state in June, which was more than twice the share it claimed in February.
The company’s CEO credits marketing campaigns for the growth and shared that expansion isn’t limited to the Garden State. PointsBet’s global customer base has grown by 254% from June 2018 to June of this year.
Those marketing campaigns have seemed to also gain some traction in the Hoosier State. Swanell says that his company’s research shows 12% of Indiana men of at least 21 years of age recognized the brand name.
The market is ready for PointsBet, and PointsBet is poised to jump in. Perhaps more appropriately, the path to licensure is clear for the operator.
Penn National provides PointsBet avenue for entry
Several months ago, Penn National made a market access deal with several sportsbook operators, PointsBet being one of them.
Among the multiple states where Penn National operates is Indiana; they own the Ameristar in East Chicago.
Through that partnership, PointsBet has a path to an Indiana license. All the potential pieces are in place, and it now seems only a matter of time.
There are currently only three other mobile sportsbook operators in Indiana. It’s possible that will still be the case when the app goes live.
If that happens, PointsBet could grab a significant market share quickly. The current landscape points to that being a good bet.