PointsBet enters ADW racing fray with Premier Turf Club acquisition
Operator to utilize its Australian racing expertise to operate racing business in US market
PointsBet has acquired Oregon-licensed advance deposit wagering (ADW) racing operator Premier Turf Club to establish a position within the racing vertical.
The 13-year-old Premier Turf Club operates the BetPTC.com domain and is the fourth largest ADW operator licensed in Oregon.
The operator’s general manager Todd Bowker will become VP of racing for PointsBet while its other handful of staffers will also join the PointsBet team.
PointsBet previously primed itself for fixed-odds racing betting’s imminent arrival in New Jersey via a partnership with racing tech provider BetMakers, which has the exclusive contract to provide racing odds to operators in the state.
Fixed-odds betting on horseracing is not legal in other states as pari-mutuel and ADW operators maintain exclusivity over the vertical.
The operator has said it is aiming to be “at the center of innovation and growth in US horseracing.”
The addition of ADW adds to PointsBet’s growing proprietary wagering product set which already includes a fixed-odds sportsbook and online casino.
PointsBet USA CEO Johnny Aitken said: “The combination of Premier Turf Club’s excellence in the space with PointsBet’s mature market Australian racing expertise favorably positions us as we prepare to enter the US horseracing market.”
PointsBet’s Australia business recorded strong racing performance last year while most sports were on hold due to Covid-19 lockdowns in both the US and Australia.
The operator acquired in-play sports betting technology specialist Banach Technology in March to improve its in-play betting efforts and build on its proprietary technology platform.