PointsBet Signs Multi-Year Agreement With EML to Give Users Immediate Access to Betting Funds
Top-tier online bookmaker PointsBet HAS announced it has entered into an exclusive multi-year partnership with card solutions provider EML Payments USA LLC (EML) to create a PointsBet-branded reloadable card program in New Jersey. Under the agreement, PointsBet users will be able to easily deposit funds into their gaming account and access winnings instantly using the reloadable card.
“Our payments card partnership with EML will deliver tangible benefits for PointsBet clients. It delivers a reliable deposit method in a market where gambling deposits have been a challenge, and allows customers to access and use their winnings immediately.”
The initial program in New Jersey is expected to launch following regulatory approvals. As the company makes its first foray into the recently legalized U.S. sports betting market, PointsBet and EML hope to also partner together throughout the U.S. to obtain licenses in states that elect to legalize and regulate sports betting.
“We’re thrilled to integrate EML into the PointsBet platform,” said PointsBet group CEO Sam Swanell. “Our payments card partnership with EML will deliver tangible benefits for PointsBet clients. It delivers a reliable deposit method in a market where gambling deposits have been a challenge, and allows customers to access and use their winnings immediately.”
“Our success in delivering innovative payment solutions to sports betting providers in Australia and Europe positions EML to provide a consistent experience that is proven in other countries. EML is enthusiastic to partner with PointsBet to drive customer engagement in the U.S. given the long term growth opportunities that we expect will unfold in the coming years,” said Brandon Thompson, chief commercial officer of EML Payments.
“We are excited that PointsBet has elected to lead the U.S. market with a payments card that will launch in FY 2019. We believe it brings unrivalled convenience to their customers and is a testament to the constant innovation taking place in this industry. We look forward to working closely with the PointsBet team, who are all proven leaders within the betting industry,” said Tom Cregan, managing director and group CEO, EML Payments.
PointsBet will release their eagerly anticipated sportsbook in late November 2018, which will build on their reputation as the fastest growing betting company in Australia and bring their sports expertise, high-tech app, and inimitable points betting product to the U.S. betting market.
EML is unable to accurately estimate future Gross Debit Volume (‘GDV’) that will be derived from this program, nor the pace at which this market will develop, given it is the first program of its type in the U.S. for EML, in a state in which sports betting has only recently been legalized. EML expects that the GDV-to-revenue conversion rate will be materially in-line with our average for the General Purpose Reloadable segment, with the first material earnings contributions delivered in 2020.