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PointsBet (ASX:PBH) launches online betting in Maryland

ASX News, Consumer Discretionary
ASX:PBH      MCAP $168.9M
24 November 2022 10:22 (AEST)

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Racing and sports wagering specialist PointsBet (PBH) has launched its online betting service in Maryland in the US — just in time for the 2022 FIFA World Cup.

Maryland marks the 13th US state in which PointsBet has launched its online operation, and the launch comes just months after the company took its first retail bet in the state back in September.

Online and sports retail betting was made legal in Maryland in May 2021, and according to PointsBet, sports betting has only recently become a mainstream fixture in the US as a whole.

“Just a few short months after unveiling The PointsBet Retail Sportsbook at The Riverboat on the Potomac, we’re thrilled to now be able to add our market-leading online sports betting product to the mix,” PointsBet USA CEO Johnny Aitken said.

“As one of the few sportsbooks to be on the starting line in Maryland, PointsBet will be delivering sports fans in the state a new way to take part in the action — whether that’s for the NFL, NBA, or NHL.”

The company said Maryland punters would be able to tap into its new ‘Soccer Lightning Bets’ service, which included bets for free kicks, goals, shots on target, and more during the Qatar World Cup.

PointsBet users will also have the ability to build a ‘Same Game Parlay’ either before a match begins or live.

PBH said the Qatar tournament was the first FIFA World Cup since sports betting became mainstream in the States.

On top of Maryland, PointsBet has launched online betting in New Jersey, Iowa, Indiana, Illinois, Colorado, Michigan, West Virginia, Virginia, New York, Pennsylvania, Kansas and Louisiana.

Shares in PointsBet last traded at $1.88 on November 23.

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