PointsBet Adds Horse Racing App to its U.S. Sports Betting Portfolio

PointsBet’s new racing app has been anticipated ever since the company announced a partnership with 1/ST Technology back in October. Now launched, PointsBet Racing will join several available online horse racing apps.

Horse racing continues to take the legal sports betting market by storm,

Just days before the Kentucky Derby, PointsBet launched PointsBet Racing, its new horse racing app. By the time Churchill Downs’ official bugler Steve Buttleman played “Call to the Post” on Saturday, PointsBet Racing was live in 25 states.

PointsBet picked a truly auspicious launch date, with the Kentucky Derby posing as the oldest continuously running sports event in the U.S. This year, 16.6 million viewers tuned in to watch the “Run for the Roses”, making it the most watched sporting event since the Super Bowl. According to Churchill Downs, all-sources wagering on the Kentucky Derby race set a new record of $188.7 million — beating the previous record of $179.0 million set in 2022.

“The launch of PointsBet Racing marks a significant milestone in our effort to expand our product portfolio and capture the tremendous potential of the US horse racing market,” said PointsBet USA CEO Johnny Aitken. “We are optimistic about replicating the success we have seen in mature global betting markets where racing is a huge engagement channel next to sports. This new offering will contribute to the growth of online horse racing in the U.S., and we are excited to go live in advance of one of the most important racing events of the year.”

PointsBet joins growing stable of horse racing apps

PointsBet’s new racing app has been anticipated ever since the company announced a partnership with 1/ST Technology back in October. Now launched, PointsBet Racing will join several online sports betting sites that own online horse racing apps.

Churchill Downs has offered its advance deposit wagering (ADW) horse racing platform, TwinSpires, since 2007. Recently, both DraftKings and FanDuel partnered with Churchill Downs to offer their own horse racing apps. FanDuel Racing launched at the end of last year, while DraftKings launched its horse racing app in March.

Meanwhile, BetMGM partnered with the New York Racing Association (NYRA) to launch its horse racing app. BetMGM Horse Racing debuted in Ohio at the end of 2021.

This leaves bettors with a lot of choices as the second leg of the triple crown approaches. The Preakness will be held at Pimlico on May 20th. Currently, this year’s Kentucky Derby winner Mage is co-favorite to win the Preakness with Forte, who was pulled from the Debry on race day.

Launched to Sell?

There is only one mystery surrounding PointsBet Racing. Why did PointsBet Racing launch now, just a month after the company announced it was seeking a buyer of its North American business? Granted, the company wants to display the earnings potential of its latest app prior to any sale.

However, it also may further limit the number of suitors within the industry. After all, DraftKings, FanDuel, and BetMGM already offer similar services. Bally’s is probably one of the only industry players who would have something to gain with a PointsBet acquisition.

A full suite of betting apps, however, might interest a private equity firm like Apollo Global Management. Last year, Apollo was looking for a sports betting company to merge with Yahoo Sports. PointsBet was even rumored as a target. But so far, Apollo has only picked up the small social gaming platform Wagr. Maybe Apollo — or another private equity company — is ready for something bigger.