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Following a short break from new launches, the NJ sports betting market is about to receive a new addition.

The new competitor to join the action is PointsBet – an online bookmaker coming from Australia. The Aussie company published a press release on the 8th of October, announcing its new online sportsbook in New Jersey, which is due to launch next month.

The license is provided by Meadowlands Racetrack.

In an effort to penetrate the US market more easily, PointsBet recruited Allen Iverson – “The Answer” as an introducer and ambassador of the brand.

The NBA superstar, who was inducted into the Hall of Fame two years ago, shot hilarious introduction video for PointsBet, also unveiling the huge promotion ahead of the sportsbook’s launch.

More about PointsBet’s new sportsbook

PointsBet does things a little differently compared to NJ’s currently operational sportsbooks.

For once, players will be able to bet on international sports in addition to USA’s four major leagues. Also, the sportsbook will be available 24/7.

Traditional sports betting options will be available. However, PointsBet also comes in with its unique product – Points Betting.

The company’s featured product allows bettors to play for high rewards at high risk. Players will be rewarded for more accurate bets, but will also lose significantly, if their guess is inaccurate.

To provide an example, let’s bet $10 that Pistons and Cavaliers will score more than 240 points collectively during their game tomorrow. If we guessed right, we’d win $100 – a sweat reward. However, if the total score came up to 215, we’d lose $100, even though we only placed $10.

This is a new style of playing for the US and locals here will need to learn how the game works before making their first bet, as even a small wager could result in a big loss.

Given the controversial nature of the product, it’s understandable why Allen Iverson was chosen to introduce the brand on the American market.

Johnny Aitken – CEO for PointsBet US was extremely excited about working with “The Answer”. He shared that Iverson’s image as a cultural phenomenon and a revolution on the court is a perfect fit for the Australian bookmaker.

Even though he’s an NBA player, Iverson’s influence spans over more than just basketball and PointsBet will be relying heavily on him to draw in sports fans from every vertical.

Free to enter $1 million challenge

In his pilot video, Iverson gave a sneak peak about PointsBet’s incredible contest. Since the sportsbook will miss most of the NBA season, it decided to run a free competition in an effort to make the most of its ambassador’s background.

Entrants in the contest needed to guess the top eight teams in the NBA season and pick the correct order. An accurate prediction would yield a million dollar reward.

How’s that for a pre-launch promotion?

Unfortunately, the contest is now over. It ran from the 8th of October to the 16th. Every resident of Pennsylvania and New Jersey was able to join the competition.

PointsBet enters New Jersey thanks to Meadowlands

In July, Meadowlands Racetrack signed a deal with PointsBet to provide them with the license needed to operate an online sportsbook.

The racetrack already runs a FanDuel sportsbook on its property, as well as the FanDuel online sportsbook.

However, the NJ sports betting market proves there is still plenty of room for new operators.

At the same time, PointsBet also announced their partnership with Tioga Downs in New York. However, due to the state’s failure to introduce the necessary legislation for sports betting, that partnership is on pause until NYC sorts it out.

PointBets is a relatively new company even in Australia. The sportsbook launched in 2017, but claimed that their Australian operations were more about testing their product than achieving large-scale penetration and growth.

Sam Swannel – CEO of PointsBet shared that his ultimate goal is the American market.