PointsBet and River on-the-Potomac have reached an agreement that will offer online and retail sports betting in Maryland. This comes less than a month after the governor added his name to legislation that made both retail and online sports betting legal.
The deal, which is established as a partnership between the two parties for ten years, is pending approval of the regulatory body in the State of Maryland. It would be the first approved licensing and operating agreement in the state and signal the beginning of sports betting in Maryland.
River on-the-Potomac is one of four Maryland off-track betting facilities, located in Colonial Beach. While the riverboat is anchored in the Virginia waters of the Potomac, it’s betting lounge is across the Maryland state line, and tax revenues from sports betting at the facility will contribute to Maryland.
Where PointsBet Operates
PointsBet presently operates its sportsbook in six states: Colorado, Illinois, Indiana, Iowa, Michigan, and New Jersey. They first debuted in the U.S. market in 2019. They have forged several partnerships with brick-and-mortar casinos, professional sports leagues, and teams. Earlier this year, PointsBet formed a betting partnership with the National Hockey League.
Last year, PointsBet was named the Official Sports Betting Partner of NBC Sports. They also have a deal with Kroenke Sports and Entertainment, which allows them to have arrangements with multiple teams in Colorado, including the Avalanche (NHL), Nuggets (NBA), and Mammoth (professional Lacrosse). PointsBet also has an exclusive deal as a betting partner for the Indiana Pacers. In 2020, they became the official gaming partner of the Detroit Tigers, in time for the launch of sports betting in Michigan.
How PointsBet Is Different Than Other Sportsbooks
While PointsBet does offer traditional wagering on who will win a game or with typical oddsmaker betting options, it’s unique in that it also offers in-game spread betting that provides more ways to win more money.
With PointsBet, many games and competitions you can wager on offer payouts that increase based on the number of points scored by your team. Payouts can also grow based on how much your team covers the point spread. So, the more right you are with your wager, the more PointsBet may pay you on your winning bet.