PointsBet Online Sportsbook Gives Bettors What They Want
Tony Romo made headlines when he entered the PGA’s AT&T Byron Nelson Classic this past week. While the former Cowboys QB and clairvoyant analyst didn’t make the cut, it didn’t stop PointsBet Online Sportsbook from taking action on him.
If you price it, they will come.
And came they did. Most people were probably not expecting much of Romo, who eagled the 7th Thursday before a tough back nine led him to an opening 76. He bounced back with a 74 Friday but wound up like the rest of us, watching the weekend action on TV.
One of the NJ betting books with vested interest in the action was PointsBet, who put together a full menu of options on Romo playing in Dallas. Ron Shell, VP of Customer and Insights, noted the company took a lot of action on the Cowboys QB (most likely from fans from rival teams who aren’t used to cheering for him.)
“We pride ourselves on offering pretty much every single bet on the market that we can and any type of opportunity for someone who’s got high media potential, playing in a known tournament, leading up to the PGA,” he said. “We think it’s a great opportunity to utilize our internal staff.”
At the start of the week, PointsBet priced out a variety of options for Romo. Most of them were unlikely, like top 20 or even winning, and carried high odds.
The NJ online sportsbook thought it would be more likely he would shoot under par for a round (+1400) than make the cut (+2000). Taking either side of the 78.5 score for Round 1 was a -118 bet. At least those who had the under cashed tickets.
Events to Drive Summer Action
PointsBet is perhaps the biggest outsider in the New Jersey sports betting market. They’re the only book with an Australian background, versus other foreign brands coming from the UK.
While DraftKings and FanDuel have found success, they’ve converted a huge DFS customer base conditioned to check sites for options before games. PointsBet has come to the US without connections to any casinos.
The company has set up shop online with offices in Jersey City. Overlooking Manhattan’s bustling financial district, Shell has enjoyed the ride so far.
“I really enjoy the challenge of setting up a big event,” he said of his work. “It’s an amazing opportunity to be in what’s going to be the biggest sports betting market in the world.”
PointsBet launched in December 2018 so they missed the bulk of the NFL season. However, they’ve adapted their approach and focused more of event betting, drawing on their experience in Australia.
Australia doesn’t have a clear king sport, unlike the US and Europe. Fans follow soccer, rules, Australian Rules Football (rugby but more violent), cricket, darts, among other things. The country’s biggest annual event in tennis’ Australian Open, which drew good handle in January.
This broader spectrum of interests drive a unique approach for PointsBet. They’ve focused on driving action around events, like the majors in golf and tennis, or a special weekend of action.
Golf is not as big in Australia. Shell compared the surge in popularity tied to Tiger’s successes similar to what they saw back home with the rise in MMA and Conor McGregor.
“I can tell you without Tiger Woods and that whole storyline, there’s definitely not as much turnover from the betting perspective,” Shell said. “It is a die-hard where we seeing the guys who have a bet in March will always have a golf bet in April and in May, will come back in every tournament.”
Despite getting burned on the Masters (like everyone did), the surge in interest benefitted PointsBet tremendously. Shell claims the activity for the upcoming majors is “ten-fold” expectations before Tiger Woods slipped on that green jacket in Augusta.
Shell said the book is now planning weeks ahead of tournaments to set prices and offerings. This is also helping set up their spring and summer strategies, where these weekly tournaments and promotions will drive the most business.
“We’ve already looked at the whole three-month schedule and highlighted events we can put a lot of media behind, like the Tony Romo style markets, to really exciting new promotions and things to get the compensation rolling,” he said. “You have to be really creative with promotions and tournaments to keep people coming back.”
The benefit for players who wager those events is they can build a more complete profile with the company and the books can learn more about what to offer. PointsBet hopes these relationships built over the slower summer months will lead to more action once football kicks off in September.
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