PointsBet has inked an exclusive agreement with Austin FC. Besides ensuring market access to Texas, the sportsbook was named Exclusive Sportsbook Partner of the MLS team. However, before PointsBet can launch its services, the deal is subject to the relevant licensing and regulatory approvals which may come once Texas pushes forward sports wagering legislation.
PointsBet Explores Texas Sports Betting Opportunities, Inks Deal with Austin FC
PointsBet Holdings Limited announced on Wednesday that its subsidiary PointsBet Texas LLC inked an agreement with Austin Team Co LLC, doing business as Austin FC. Under the agreement with the Major League Soccer (MLS) team, PointsBet became an Exclusive Sportsbook Partner for Austin FC.
The market access agreement will also see PointsBet become an exclusive partner for sports betting of AFC’s home stadium. At Q2 Stadium, PointsBet will have permanent onsite signage and the operator will also gain access to Austin FC IP, marks and logos.
The latest deal will provide advertising, brand visibility, integration, radio broadcasts and digital assets in both English and Spanish. This will further leverage PointsBet’s Spanish language functionality and expand the reach of the sportsbook.
Texas Is Yet to Legalize Sports Betting
It’s important to mention that sports betting is yet to pass legislation in Texas. If and when that happens, racetracks and professional sports teams/organizations may be able to offer online and in-person sports wagering.
In other words, although PointsBet and Austin FC have inked this latest deal, the launch of sports wagering is subject to all relevant regulatory approvals. Additionally, the sportsbook will need to undergo licensing when Texas initiates that process.
Under the terms of the agreement, PointsBet will be responsible for covering licensing and regulatory costs related to launching and operating sports wagering services. Additionally, the deal runs until ten years from the date PointsBet takes its first bet in Texas.
PointsBet to Pay Sponsorship Fees, Donate to the 4ATX Foundation
The sportsbook is responsible for paying a sponsorship fee to Austin FC that is split between pre-legislation and post-legislation of sports betting. PointsBet will also contribute significantly with donations to the 4ATX Foundation, a local non-profit organization that helps underserved youth to succeed through soccer. Those sponsorship donations are going to span over the first three years of the agreement.
We are excited to join up with Austin FC in their inaugural season as a Founding Partner.”Johnny Aitken, CEO, PointsBet USA
PointsBet USA CEO Johnny Aitken said that the company is excited to team up with Austin FC. He acknowledged that Texas has significant potential as a future market for the sportsbook. Additionally, Aitken said that PointsBet and Austin FC share value and vision, which makes the collaboration exciting and will undoubtedly, bring unforgettable experiences for Austin FC fans.