PointsBet kicks off proprietary igaming platform in Michigan
PointsBet Holdings Limited made it public to fully own its subsidiary called PointsBet Michigan LLC after seeking authorization from Michigan Gaming Control Board (MGCB) to start igaming operations. As a result, it has launched its patented igaming platform in the state.
The launching of the igaming operations comes after the legalization of sports betting in Michigan early this year. Currently, it has plans to follow up with another launch in New Jersey later in June.
In their official statement, PointsBet argued that igaming revenues throughout the US had grown exceptionally. This comes after the Professional and Amateur Sports Protection Act (PASPA) overturn in May 2018.
Across Pennsylvania, New Jersey, West Virginia, and Michigan, igaming revenues were more than $770 million as of March 2021. If the values are totaled for a year, it means that they will exceed $3 billion yearly. PointsBet has set up an igaming operation in all these states.
In Particular, igaming revenues in New Jersey have increased 25% between 2014 and 2018. The revenues have, as a result, increased at the rate of 62% and 101% in 2019 and 2020, respectively.