PointsBet took another step closer to entering the Hoosier State online/mobile market, receiving approval for a temporary vendor license Monday by the Indiana Gaming Commission.
The approval continues a flurry of activity by the IGC, which also approved RoarDigital and BetIndiana for temporary vendor licenses earlier this month. The approval for a temporary vendor license is part of the process leading up to a mobile launch authorization.
The IGC usually makes its separate authorization closer to the actual start-up date, and of the four online/mobile sportsbooks currently available in Indiana, DraftKings had the quickest turnaround from approval to authorization at 37 days. The average length from approval to authorization has been 64.5 days, with FanDuel and RushStreet — which runs BetRivers — also approved in 72 or fewer days.
PointsBet expanding mobile reach in Midwest
PointsBet has mobile operations in both Iowa and New Jersey, serving as the sportsbook to Catfish Bend Casino in the former and the Meadowlands Racetrack in the latter. In Indiana, PointsBet is the sportsbook partner for Hollywood Casino in Lawrenceburg, which is the dominant player in the southern part of the state and within one hour’s drive of both Cincinnati and Louisville.
“The PointsBet team is very excited to continue to increase our footprint. Indiana represents a state of great opportunity, and we look forward to providing more of the sports-loving folks in the Midwest with the premium product they deserve,” Director of Communications Patrick Eichner said.
In terms of retail handle, Hollywood had a retail sports wagering handle of $8.92 mm in December, trailing only Horseshoe Hammond ($13.9 mm) among Indiana’s 11 total casinos and racinos.
The mobile market is a hotly contested battleground in Indiana, which has no in-person registration requirements to open an account. That has contributed to a near five-fold increase in handle from when sportsbooks reported a $35 mm handle in the first month of betting in August when there were no mobile options available to nearly $162 mm in December.
In each of the three months of reports since online betting has been available in Indiana, mobile betting has accounted for more than half of the overall handle, including a high of 68.34% — $110.57 mm — in December. DraftKings, which was the second of the four online operators to enter the market, currently dominates the mobile landscape and accounted for 60.32% — $66.7 mm — of the total mobile handle in December.
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