On March 15th, Paysafe, a leading specialized payments platform, announced the expansion of its partnership with PointsBet, the global sportsbook operator that recently launched its online sports-betting brand in Michigan.
PointsBet, which already uses Paysafe’s payment processing services in five other regulated U.S. states, adds Michigan to the list of markets supported through the deal.
Founded in Australia, PointsBet made its U.S. debut in 2019 after receiving approval from the New Jersey Division of Gaming Enforcement and partnering with the state’s Meadowlands Racetrack in East Rutherford. As a byproduct of PointsBet’s technology infrastructure, the sportsbook operator offers unique features in addition to traditional fixed odds wagering, such as a spread betting model dubbed “PointsBetting.” PointsBet is currently live in six states—Colorado, Illinois, Indiana, Iowa, Michigan, and New Jersey. The operator’s partnership with Paysafe extends across all these jurisdictions.
Through its latest integration with Paysafe, PointsBet allows Michigan-based customers to easily deposit funds using credit and debit cards, processed through Paysafe’s best-in-breed payment network, as well as ACH bank transfer via checking and savings accounts. Similar depositing methods are also available across the other five states in which PointsBet is active.
The deal also sees Paysafe expand its role in the U.S. iGaming space, where the provider has announced several recent partnerships and is focused on sustained growth as more states continue to regulate. Michigan is the most recent of these states, having launched its online market on January 22, following authorization from its Gaming Control Board, and bringing in $115.2 million in online wagers during its first 10 days, according to the regulator.
PointsBet is an official sports betting partner of all four major U.S. leagues (NFL, NBA, MLB and NHL), and has made groundbreaking deals with NBC Sports and Kroenke Sports and Entertainment. The sportsbook operator also won three 2020 EGR North America Awards for Sports Betting Operator, Socially Responsible Operator and U.S. Rising Star, respectively.
Gregory Kirstein, director of business development for iGaming at Paysafe, said: “With its innovative mindset and dedication to providing a high-quality sports-betting experience, PointsBet has established a frontrunner status in the rapidly expanding U.S. iGaming market. We look forward to building on an already fruitful relationship by supporting the Michigan launch through our payment processing services, which streamline the customer payments journey and drive long-term loyalty.”
