PointsBet Gains Approval to Expand into Virginia

Stephen Poore/Unsplash

PointsBet has gained a license to launch its online sportsbooks and PointsBetting product in Virginia. The brand already lives in Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, and West Virginia, so this will be the eighth state for PointsBet. Only BetMGM, Caesars Sportsbook, DraftKings, and FanDuel have a broader national footprint.

Competition Heats Up in the Commonwealth

PointsBet tied up a market access deal with Colonial Downs Group to expand into Virginia. It becomes the ninth sportsbook to launch in the Commonwealth, following in the footsteps of Caesars Sportsbook, DraftKings, FanDuel, BetRivers, Unibet, and a few smaller operators.

“Being awarded the opportunity to offer PointsBet’s market-leading speed and ease of use, unrivaled slate of betting options, and overall in-play excellence to the people of Virginia is a great achievement and responsibility,” said Johnny Aitken, chief executive at PointsBet USA.

“Alongside Colonial Downs, PointsBet is proud to partner with the Lottery in Virginia for our first lottery-regulated market license award. PointsBet is the exclusive sports betting partner of NBC Sports, and it will use that relationship in a bid to attract new customers in Virginia.

NBC Sports Washington broadcasts games featuring two of the most popular teams in the state – the Wizards and the Capitals. “We couldn’t be more thrilled to further expand our exclusive relationship with NBC Sports – a staple to sports lovers in Virginia – and ultimately provide the great people in the state with the sportsbook they’ve been waiting for,” added Aitken.

Welcome Bonus Offer

We expect to see a First-Bonus Bet bundle worth up to $2,000 for new customers in Virginia, as that is the welcome bonus that PointsBet offers in every other state. The bonus is divided into two parts – a $500 First-Bonus Bet on a traditional sports wagering market, and a $1,500 First-Bonus Bet on a PointsBetting market.

PointsBetting is a unique form of sports wagering that resembles financial spread betting. We have explained the concept in greater detail here. If your first bets are unsuccessful, you will get a full refund – up to a maximum of $500 on a fixed-odds bet and $1,500 on a PointsBetting option – paid in site credit.

The site credit has a 1x rollover requirement, which you must complete before you can cash out. You will then receive lots of ongoing promos, including Bonus Bets, odds boosts, and early payouts. There is also a loyalty program and a Karma Kommittee, which issues refunds when bets lose to bad beats.

Key Attributes

PointsBet is an Australian company, but it has set up a headquarters in Denver, Colorado, and it is bidding to become one of the leading lights in the United States. It offers more betting options than any competitor because you can enjoy PointsBetting alongside normal wagering, and there is also a “Name a Bet” feature, which allows you to request any bet. The team will then price it up for you.

Besides the breadth of wagering options, PointsBetting offers features such as live streaming, cash out, partial cash out, and same game parlay builders. Another unique selling point is that PointsBet offers reduced juice -107 lines on NFL sides. This is expressly done to beat BetMGM, Caesars Sportsbook, DraftKings, and FanDuel on price.

PointsBet has its own proprietary software and does not pay a cut of its revenue to a white-label provider, which allows it to offer attractive lines and bonuses. It, therefore, represents a compelling option for sports fans in Virginia.