While states like New Jersey, New York, Pennsylvania, and the not-even-legal Maryland get most of the coverage regarding online sports betting, Virginia is one of the many legal states, opening its virtual doors on January 21, 2021. On this date, FanDuel Sportsbook became the first-ever legal online sportsbook in the state.
Since then, nine sportsbooks have gone live online, with three more—FOX Bet, theScore, and SuperBook—on the way.
One of those online sportsbooks is PointsBet, which arguably has the most unique online sportsbook on the market today.
Today, we will take a deeper look into PointsBet Sportsbook VA, including when it launched in the state, some background on the brand, the other states it’s available in, its partnerships with leagues and teams, and also go over the feature that makes it stand out from the rest—PointsBetting.
When Did PointsBet Launch in Virginia?
PointsBet Sportsbook came to Virginia on December 15, 2021. In coming to Virginia, PointsBet entered a licensing partnership with Colonial Downs Racetrack in New Kent, VA.
PointsBet Virginia Sportsbook – Explaining the PointsBetting Feature
Standing out from the pack is hard to do in the world of online sports betting. Most times, online sportsbooks try to one-up each other with bonuses and promotions. While this is an effective strategy, there has to be another way—at PointsBet, that different way is PointsBetting.
In essence, PointsBetting is used in the context of over/under type bets, but not just totals betting, as it includes props.
The best way to explain it is through an example.
Say you want to bet $10 on Buffalo Bills quarterback Josh Allen to go over his passing yards line set at 300 yards.
At the end of the game, Josh Allen finished with 317 passing yards.
Not only did you win the bet by betting the over, but instead, you get your wager multiplied by just how over you went—in this example, that’s 17 points.
Thus, your winnings would turn into $170 instead of just $10.
Conversely, this can happen for losses.
If Allen finished with 283 yards, you’d lose $170.
When making a bet, PointsBet Sportsbook VA will ensure you have the money in your wallet to ensure you can cover the bet in the event of a loss.
PointsBet Professional Partnerships
Since 2020, PointsBet Sportsbook has made countless partnerships across leagues, media outlets, individuals, college athletics programs, sports-based companies, and teams.
Below are just a few of those partnerships:
- Maryland Athletics
- PGA TOUR
- NFL (2021 Season)
- Drew Brees (Brand Ambassador)
- Genius Sports
- NBC Sports
- Denver Nuggets
- Colorado Avalanche
- Indiana Pacers
- Detroit Tigers
- Penn National
- Allen Iverson
It’s not exactly a partnership, but PointsBet Sportsbook recently saw a massive pop in the stock price of about 20% following SIG Sports Investments Corp., a division of Susquehanna International Group of Companies, investing about $65.3 million, or 38.7 million shares for a price of $1.67 each—a 15% premium.
The deal was announced on Monday, June 20, 2022.
Notably, Susquehanna was co-founded by Jeff Yass, who just so happens to be a billionaire who has a past in horse racing handicapping and is a professional gambler.
“After several years of thoroughly evaluating the North American market for the right partner, SIG Sports is pleased to have made a long-term investment in PointsBet,” Yass said in a statement. “We believe PointsBet has great potential for future growth and success in the North American market, and SIG has both the analytics and capital to help realize that potential.”
PointsBet Sportsbook History – Pointsbet Virginia
PointsBet is not a United States company. In fact, the company came from Australia and was first launched in 2017.
After PASPA was overturned in May 2018, PointsBet made its way toward the United States, launching its first-ever online branch in New Jersey in 2019. Also, in 2019, PointsBet would launch another branch in Iowa.
Prior to launching in Iowa, PointsBet had made several partnerships and had connections to 10 states.
When the brand first began, Allen Iverson was the brand ambassador, giving them immediate notoriety.
Speaking of notoriety, PointsBet did something quite crazy for an online sportsbook—it refunded players after a losing bet.
The context here includes the New Orleans Saints losing to the Los Angeles Rams in the 2018-2019 NFC Championship, in which the Saints lost 26-23 after Bill Vinovich did not call pass interference on the most blatant display in recent memory.
Since arriving in New Jersey in 2019, PointsBet Sportsbook is now available in 10 states, including Virginia, and continues to expand.
Launched: November 2020
Launched: September 2020
Locations: Prospect Heights, Hawthorne, Crestwood
Launched: March 2020
Launched: October 2019
Locations: Catfish Bend
Launched: January 2021
Launched: January 2019
Launched: January 2022
Launched: February 2022
Launched: August 2021