Gaming Company PointsBet recently received the Indiana Gaming Commission’s authorization to launch its online and mobile gaming platforms on Thursday. The green signal will help the Australian company establish itself firmly in one of the most important US sports betting markets.

Making a firm entry

The Thursday launch will help the company launch its offering just in time for the NCAA Men’s Basketball Tournament. The First Four games of the event will begin on March 17 with the Lucas Oil Stadium hosting the Midwest Region. PointsBet US CEO Johnny Aitken commented on the news and said,

“The PointsBet team is excited to go live in Indiana — our third state of operation — prior to this year’s NCAA Tournament, as well as the various conference tournaments like the Big Ten, which is set to take place in Indy.”

He added that the upcoming season of NCAA basketball will serve as the perfect launchpad for the company to introduce its offering to the Hoosier State. Indiana will be the third state in which the Australian company will operate its mobile sports wagering business. Indiana has a long and rich history of basketball and the state’s recent entry into the sports wagering market means that it will gain much more from the event.

Ever since sports betting was allowed in September 2019, the state has raked over $600 million in a betting handle (till January 2020), 70% of which came via internet channels. PointsBet is well-positioned to capture this market. Moreover, this will be the first NCAA season for punters which makes March Madness crucial for the company.

Strong retail presence in the state

PointsBet will access the state’s sports betting markets via a partnership with Lawrenceburg’s Hollywood Casino, located just 30 miles from Cincinnati. This property was the second-highest grosser in retail handle in the month of January 2020. It handled a total of $7.7+ million in wagers. It was behind the Horseshoe Hammond which handled more than $13.7 million. This casino is the closest to downtown Chicago.

PointsBet will compete with five other existing mobile betting products in the state. The state will now be left with five sportsbooks and licensed racinos that have not started offering an online product yet. The market is populated by BetAmerica, BetRivers, FanDuel, and DraftKings. BetMGM was the most recent entrant to the market and Unibet is also expected to make its presence felt sooner or later.