Paysafe expands PointsBet partnership with move into Michigan

Specialist payments platform provider Paysafe has expanded its partnership with global sportsbook operator PointsBet which recently launched its online sports-betting brand in Michigan

PointsBet, which already uses Paysafe’s payment processing services in five other regulated US states, adds Michigan to the list of markets supported through the deal.

Founded in Australia, PointsBet made its US debut in 2019 after receiving approval from the New Jersey Division of Gaming Enforcement (DGE) and partnering with the state’s Meadowlands Racetrack in East Rutherford. 

As a byproduct of its technology infrastructure, the sportsbook operator offers unique features in addition to traditional fixed odds wagering, such as a spread betting model dubbed “PointsBetting”.

The firm is currently live in six states – Colorado, Illinois, Indiana, Iowa, Michigan, and New Jersey. The operator’s partnership with Paysafe extends across all these jurisdictions.

Through its latest integration with Paysafe, PointsBet allows Michigan-based customers to easily deposit funds using credit and debit cards, processed through Paysafe’s payment network, as well as ACH bank transfer via checking and savings accounts. Similar depositing methods are also available across the other five states in which the sportsbook is active.

The deal also sees Paysafe expand its role in the US igaming space, where the provider has announced several recent partnerships and is focused on sustained growth as more states continue to regulate.

Michigan is the most recent of these states, having launched its online market on January 22, following authorization from its Gaming Control Board, and bringing in $115.2m in online wagers during its first 10 days, according to the regulator.

Gregory Kirstein, Director of Business Development for iGaming at Paysafe, said: “With its innovative mindset and dedication to providing a high quality sports-betting experience, PointsBet has established a frontrunner status in the rapidly expanding US igaming market. 

“We look forward to building on an already fruitful relationship by supporting the Michigan launch through our payment processing services, which streamline the customer payments journey and drive long-term loyalty.”