{"id":167510,"date":"2021-03-16T10:19:20","date_gmt":"2021-03-16T17:19:20","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=167510"},"modified":"2021-03-16T12:03:57","modified_gmt":"2021-03-16T19:03:57","slug":"pointsbet-boosts-in-game-exposure-with-banach-purchase","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/pointsbet-boosts-in-game-exposure-with-banach-purchase\/","title":{"rendered":"PointsBet Buying Banach Technology for $43 Million to Expand In-Game Betting Platform"},"content":{"rendered":"

PointsBet (OTC:PBTHF) is acquiring Banach Technology for $43 million. The move is aimed at increasing the sportsbook operator’s footprint in the fast-growing in-game betting market.<\/p>\n

\"PointsBet
PointsBet CEO Sam Swanell, seen here. His company is buying Banach to increase in-game betting exposure. (Image: The Market Herald<\/em>)<\/figcaption><\/figure>\n

PointsBet will pay 55 percent of the $43 million in cash and deliver 1.75 million shares to privately held Banach. The Australian company is also paying $4 million to the target to convert existing equity options, which will be retained by the buyer. The transaction is slated to close in April.<\/p>\n

The acquisition will position PointsBet as a leader of in-play sports wagering in the US, just as in-play wagering is expected to grow exponentially,\u201d<\/strong> said the Australian company in a statement.<\/p><\/blockquote>\n

PointsBet<\/a>\u00a0is operational in Colorado, Illinois, Indiana, Iowa, Michigan, and New Jersey. Its US headquarters is in Denver.<\/p>\n

Ireland-based Banach develops risk management and trading platforms. They support traditional and in-game betting products for the four major US sports leagues and international soccer leagues.<\/p>\n

PointsBet Wagering on Live Betting Boom<\/h2>\n

Currently, about half of all sports bets are placed live or in-game. PointsBet sees that percentage accelerating to 75 percent over the next three years.<\/p>\n

That style of wagering is popular in markets outside the US, namely Europe, where slower-paced sports are popular with bettors. In the US, sports such as basketball, hockey and, to a lesser extent, football, aren’t conducive to in-game betting. However, baseball and golf, among others, are suited for it.<\/p>\n

PointsBet rivals such as DraftKings (NASDAQ:DKNG) and Penn National Gaming (NASDAQ:PENN) previously highlighted opportunities for more in-game action<\/a> in the US. PointsBet is the official betting partner of the PGA Tour<\/a>.<\/p>\n

\u201cAs legislation to approve sports betting accelerates across the US, it has become clear that the in-play opportunity will be very significant, and those with the best depth and breadth of product will win,\u201d said PointsBet CEO Sam Swanell in the statement.<\/strong><\/p>\n

With the Banach purchase, PointsBet gets an experienced team of in-game developers because the Irish company’s founders previously ran the quantitative division at Flutter Entertainment<\/a> (OTC:PDYPY).<\/p>\n

Potentially Potent Purchase for PointsBet<\/h2>\n

Last year, PointsBet inked a $500 million deal<\/a> with Comcast\u2019s NBC Sports to become the broadcaster\u2019s official sports betting partner. This confirmed its intent to become a major player in the US sports wagering scene.<\/p>\n

As sports wagering becomes more mainstream, gaming and media companies are joining forces. That could provide a long-ranging avenue for increasing adoption of live betting, making PointsBet’s Banach buy look prescient.<\/strong><\/p>\n

\u201cPointsBet offers the most markets on all four major U.S. sports (NFL, NBA, MLB, NHL),\u201d according to the company.<\/p>\n","protected":false},"excerpt":{"rendered":"

PointsBet (OTC:PBTHF) is acquiring Banach Technology for $43 million. The move is aimed at increasing the sportsbook operator’s footprint in the fast-growing in-game betting market. PointsBet will pay 55 percent of the $43 million in cash and deliver 1.75 million shares to privately held Banach. The Australian company is also paying $4 million to the […]<\/p>\n","protected":false},"author":46,"featured_media":167512,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[32093,1074],"tags":[],"acf":[],"yoast_head":"\nPointsBet Boosts In-Game Exposure with Banach Purchase<\/title>\n<meta name=\"description\" content=\"PointsBet raises in-game betting profile with $43 million acquisition of Banach Technology.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PointsBet Boosts In-Game Exposure with Banach Purchase\" \/>\n<meta property=\"og:description\" content=\"PointsBet raises in-game betting profile with $43 million acquisition of Banach Technology.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/pointsbet-boosts-in-game-exposure-with-banach-purchase\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-16T17:19:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-03-16T19:03:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/03\/pb.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"960\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/pointsbet-boosts-in-game-exposure-with-banach-purchase\/\",\"url\":\"https:\/\/www.casino.org\/news\/pointsbet-boosts-in-game-exposure-with-banach-purchase\/\",\"name\":\"PointsBet Boosts In-Game Exposure with Banach Purchase\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/pointsbet-boosts-in-game-exposure-with-banach-purchase\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/pointsbet-boosts-in-game-exposure-with-banach-purchase\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/03\/pb.jpg\",\"datePublished\":\"2021-03-16T17:19:20+00:00\",\"dateModified\":\"2021-03-16T19:03:57+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"PointsBet raises in-game betting profile with $43 million acquisition of Banach Technology.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/pointsbet-boosts-in-game-exposure-with-banach-purchase\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/pointsbet-boosts-in-game-exposure-with-banach-purchase\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/pointsbet-boosts-in-game-exposure-with-banach-purchase\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/03\/pb.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/03\/pb.jpg\",\"width\":1280,\"height\":960,\"caption\":\"PointsBet CEO Sam Swanell. 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