Country roads, take me home, to the place I belong, West Virginia…. mountain mama, Take me home, to get my bet on… A slight tweak to the John Denver classic could soon be a new theme song for the Mountain State with bookmaker PointsBet (ASX: PBH) securing regulatory approval to commence its sports betting operations in West Virginia.
It makes West Virginia the seventh State in the US that PointsBet will offer its premium sports betting products having actively targeted the jurisdiction since 2019 when collaborating with Penn National Gaming to secure the licence now approved from the West Virginia Lottery Commission.
“Launching in West Virginia represents further progress for PointsBet and presents another tremendous opportunity we are excited to attack,” said PointsBet USA CEO, Johnny Aitken.
“As always, PointsBet will provide this passionate, sports-loving community with a fast and reliable online sports betting product across every customer touchpoint.
“We are thrilled to now introduce West Virginian sports bettors to the competitive advantages PointsBet possesses in owning our technology end-to-end, such as our speed and ease of use as well as a deep slate of betting options for every NFL, NBA, MLB, NHL, WNBA, and PGA TOUR contest.”
Unlike other states that PointsBet has premium operations, where they are also major sponsors of the pro teams and stadiums, West Virginia is one of the few States that has no professional teams across the major leagues. It is however home to Mountaineer Park which hosts more than 200 horse race meetings annually as a racetrack-casino hybrid which also has more than 3,000 slot machines.
Despite not having any professional teams, the State of West Virginia has one of the biggest collegiate fan bases which take centre stage in the State led by the West Virginia Mountaineers and Marshall Thundering Herd.
Notable alumni from West Virginia, a powerful football program, include All-Pro punter-turned-comedian Pat McAfee and All-Pro cornerback Pacman Jones.
Marshall, which tragically lost their entire football team in a 1970 airplane disaster, is not the powerhouse they once were but still produced elite athletes Randy Moss who is widely regarded as one of the best wide receivers of all time, and Superbowl champion quarterback Byron Leftwhich. Top NBA coach Mike D’Antoni was also part of the Thundering Herd alumni.
Further driving PointsBet’s growth in the United States as they grow their sports betting operations into new States, the bookmaker has appointed Aonghus Mulvihill as Vice President of Global Sportsbook Trading.
With 15 years of international experience and joining from Betfair International Sports (part of Flutter Group, the parent of FanDuel), Mulvihill will oversee PointsBet’s global team of sports analysts. He will also oversee trading risk management strategy and trading product development.
With expansion into the United States being the key driver behind PointsBet’s public listing in 2019, the Australian-founded company has made significant strides over the past year.
For the 12 months ended 30 June 2021, PointsBet reported 159,321 active US clients which represented a 661% increase on the previous year.
The Company has a further 12 States that are pursuing full operations, having secured market access partners to strengthen their case while offering limited operations. Additionally, PointsBet is set to unlock a whole new market in 2022 with plans to launch operations in Canada. Landmark reforms are currently taking place which are expected to legalise sports betting in Canada soon.
*Owners of this website are PBH shareholders
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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