PointsBet adds to US market access with Maryland agreement

PointsBet has finalized an agreement with The Riverboat on-the-Potomac for market access in Maryland, one of the most recent US states to legalize sports betting.

The deal is for 10 years and will enable the Australia-based and growing US operator to offer retail and online sports betting in Maryland.

Maryland formally legalized sports betting on May 18, 2021, when Governor Larry Hogan signed into law legislation allowing for both online and retail sports betting.

The Riverboat on-the-Potomac is a licensed off-track betting facility in Charles County that straddles the border between Maryland and Virginia.

As part of the partnership, PointsBet will pay to the Riverboat Group online and retail sportsbook market access fees, in addition to a portion of its net gaming revenue from sports betting.

PointsBet will also assume any licensing and regulatory costs associated with launching its services.

“With terrific partners in The Riverboat on-the-Potomac, PointsBet is thrilled to begin the process toward offering the passionate, sports-loving community of Maryland with the fastest and most differentiated sports betting product across every customer touchpoint,” said PointsBet USA CEO Johnny Aitken.

Winston DeLattiboudere, co-managing member of the Riverboat Group, added: “We’re excited about this new endeavor and are proud to be partnering with a company that understands and believes in the value of inclusiveness in every facet of the industry, from the owners to the bettors.”

Maryland represents a particularly key strategic entry point, as it provides PointsBet with access to the Baltimore-Washington metropolitan area.

While PointsBet doesn’t have market access to Virginia or Washington DC, its NBC partnership — which includes NBC Sports Washington — should allow it to achieve greater penetration throughout the region.

With the deal, PointsBet now has market access to 17 US states, and is currently live in six.