PointsBet: US customers have bigger appetite for risk
PointsBet CEO Johnny Aitken says customers in New Jersey are betting with average stakes four times larger than Australian punters
US bettors have a bigger appetite for risk than their European and Australian counterparts, according to New Jersey bookmaker PointsBet.
Speaking exclusively to EGR, PointsBet CEO Johnny Aitken said customers in New Jersey were betting with average stakes four times larger than Australian punters.
He also said more than half of customers had tried the operator’s unique points betting feature.
The concept, known as spread betting in Europe, never found mainstream popularity in the UK, thanks in part to the complexity of the product and the fact that losses can run to several times a bettor’s stake.
However Aitken said the firm was seeing excellent take-up for the product in the US.
PointsBet chief innovation officer Seth Young added: “We see a different psychodynamic among American customers in the way they consume risk.
“Americans have a higher tolerance for risk generally speaking, and if there’s ever a product that is going to play to that dollar-to-dreams mentality, then this is it.”
PointsBet has made a splash in New Jersey since its launch thanks to high profile refunds and promotions for customers, as well as its recent partnership with TopGolf that will see the venue run PointsBet branded sports bars.
For the full interview with Aitken and Young, see the next issue of EGR North America.