PointsBet New Jersey market share hits 13.5% on targeted marketing drive
Operator records 222% jump in active users across US in Q4 as NBC Sports integrations are rolled out
PointsBet’s share of the New Jersey online sports betting market grew to 13.5% in the three months to November 30, the operator has reported, after active users across the US business soared 222% on the previous year to 68,094.
In the same period last year, the operator saw its NJ market share slip to 5.9% from 6.7% on lower turnover from high-staking bettors.
In a January 28 trading update, the operator attributed its rise in active users to targeted marketing efforts, assisted by its NBC Sports partnership.
PointsBet’s marketing spend for the three months to December 31, 2020 reached $18.2m as its started to roll out a number of integrations with NBC Sports.
Thanks to further targeted marketing efforts in Illinois, including a pre-game football show on NBC Sports Chicago’s RSN, PointsBet seized 14.7% of the state’s online market during the quarter.
As part of the media partnership, it has already introduced email marketing, pre-game shows, and a bet-builder feature dubbed Name A Bet.
It expects to introduce igaming in Michigan in H2 2021, followed shortly by New Jersey.
The platform is being developed entirely in-house, with a dedicated team building the platform back-end, the remote server, and administrative tools.
The product will be supported by third-party casino content, including live-dealer games.
The operator recorded $6m in GGR across the US business in Q4 on a handle of $495.7m.
Its win margin dropped from 7.2% in Q4 2019 to 1.2% in 2020, causing net revenue to drop 2.6% YOY.