PointsBet looking to launch in Michigan
PointsBet is an Australian-based sports betting operator, but the company has been making big moves in the United States.
After successfully launching in the state of New Jersey, PointsBet was looking for other markets to explore.
As recently as September, PointsBet launched both retail and mobile sports betting in Illinois, and the operator is off to a great start. Now the company is looking to expand once again, and it appears that Michigan is the next stop on the list.
PointsBet has already announced that a Colorado launch is set for later this fall, but it also confirmed that the app could be available in Michigan as early as January 2021. The company will also be launching its iGaming platform as mobile casino gambling has been legalized in Michigan as well.
Michigan is expected to launch both online sports and iGaming at some point before the end of 2020, but PointsBet will not be ready that quickly. The operator has spent too much time promoting its brand in both Illinois and Indiana and has not had a chance to focus on Michigan.
PointsBet has produced just over $2 million during the most fiscal quarter, but that was part of the company’s strategy. The operator predicted low margins as it continues to expand throughout the US, but it wanted to gain new customers.
The operator more than doubled its customer total in the United States over the last quarter, and that number is now all the way up to 39,816 active customers. PointsBet spent almost $12 million in promotions or advertising during that time, but the plan appears to be working.
Earlier this summer, it was announced that PointsBet became an official sports betting partner of the Detroit Lions. This was another move that should lead to plenty of customers and will help the operator become a leader in the state.
Competing with the likes of DraftKings Sportsbook and FanDuel won’t be easy for PointsBet, but it has faced similar competition in other states. Look for PointsBet to start 2021 with a bang in Michigan and give sports bettors in the state another great betting option.
When Will Michigan Go Live?
There have been several things that have delayed the launch of mobile sports betting in Michigan, with the COVID-19 pandemic being one of them. It now appears that the state is ready to go, and things should be up and running by the end of November 2020.
The Michigan Gaming Control Board held public hearings on Sept. 23, and there is just one more hurdle to clear. The MGCB is expected to issue an economic impact statement that will lay out the final details of the industry.
It’s unclear how many operators will be ready to go at launch, but there are some big names already in the retail industry. DraftKings, FanDuel, and BetMGM already offer retail sports betting in the state and could likely have mobile apps ready to launch in days.
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