PointsBet Holdings Limited announced Thursday that one of its subsidiaries has entered into a partnership with The Stronach Group’s 1/ST Technology, in a deal that represents the latest intersection between the horse racing and sports betting industries.
Under the deal with PointsBet subsidiary Premier Turf Club LLC (BetPTC), 1/ST Technology will deliver a fully integrated, white-label advance deposit wagering (ADW) horse racing betting service to PointsBet customers in the U.S. While utilizing BetPTC’s licenses, PointsBet will own and operate the ADW business, with the ownership of customer data remaining with PointsBet, the company said in a statement.
Australian-headquartered PointsBet is operational with sports betting in more than 10 U.S. states, including New York, New Jersey, Michigan, and Pennsylvania.