Susquehanna Becomes PointsBet’s Largest Shareholder, Puts Focus on In-Game Betting

GamingToday.com is an independent sports news and information service. GamingToday.com has partnerships with some of the top legal and licensed sportsbook companies in the US. When you claim a bonus offer or promotion through a link on this site, Gaming Today may receive referral compensation from the sportsbook company. Although the relationships we have with sportsbook companies may influence the order in which we place companies on the site, all reviews, recommendations, and opinions are wholly our own. They are the recommendations from our authors and contributors who are avid sports fans themselves.

For more information, please read How We Rank Sportsbooks, Privacy Policy, or Contact Us with any concerns you may have.

Gaming Today is licensed and regulated to operate in AZ, CO, CT, IN, LA, MI, NJ, NY, PA, TN, and VA.

Susquehanna is expected to help PointsBet grow its live betting markets. (PointsBet)

Susquehanna International Group (SIG) is taking a 13% equity stake in PointsBet Holdings Ltd. in a deal valued at $65 million dollars, making SIG the company’s largest shareholder, PointsBet announced Monday.

A major US player in options trading, SIG plans to leverage its expertise in that industry to help PointsBet expand its in-game betting markets in the future.

Points Bet CEO Johnny Aitken recently penned an op-ed piece for the sports business publication Sportico announcing the company’s plan to grow micro markets for live wagering in golf.

“We both agree that where it’s going is to in-game betting,” Susquehanna co-founder Jeff Yass told Dow Jones Newswires. “There is really very little in-game betting in the United States because no one really has the expertise. We think we have the advantage there. That analytics, that mathematics, that technology is almost exactly the same for sports betting as it is for options trading.”

News of Susquehanna’s investment in PointsBet comes on the heels of Las Vegas Sands Corp.‘s investment in the company that was formed in the merger of Huddle and Deck Prism, a service that provides live odds to sportsbooks.

Live Betting Grows in Popularity

Live (or in-game) bets are made after a game or event has started. Technology allows sportsbooks to offer new odds on a real-time basis depending on how the competition is playing out.

Instead of traditional “pre-flop” betting before a golf tournament begins, for example, live bets can be made on things like a player’s performance against a competitor on a particular hole or during an individual round.

As Aitken wrote in Sportico, “Over the coming years, we see this extending to longest drive, nearest the pin, and even whether the individual will sink a putt. Creating these lightning betting opportunities can make golf a top-tier betting sport, in line with how soccer and tennis have been revolutionized by live, in-play micro markets.”

Two Industries Converge

Yass, 63, has amassed a $17 billion fortune after more than four decades in options trading. Yass, also an avid poker player and horse racing bettor, has a long history of betting and winning regardless of the arena.

“The options market which we have been in for 41 years and the sports betting market are very, very similar analytically,” he said. “You’ve got to figure out the price, use probability and statistics, you’ve got to use game theory and analytics, you’ve got to put up the best price – know what you are doing and be confident in your price. So, the skills it takes to be a good options trader are the same skills it takes to be a good bookmaker.”

While there’s doubt around the sports betting industry regarding the price sensitivity of recreational gamblers, Yass is betting that offering more favorable odds is in fact key to customer acquisition and retention.

About the Author

Kris Johnson

Writer & Contributor
With more than 15 years of experience as a sports journalist, Kris Johnson’s work has appeared in Sports Business Daily, Sports Business Journal, NASCAR Illustrated, and more. Kris also wrote a sports-betting novel entitled The Endgame.

Get connected with us on Social Media