Depositing money into online regulated sportsbook sites can sometimes be problematic with many banks denying such transactions. And with legalized sports betting growing in the United States, bettors are regularly encountering this issue.
Australian-based PointsBet, in conjunction with EML Payments, is hoping to alleviate the payment issues facing U.S. bettors with the introduction of an online sports-betting platform that offers a reloadable payment card where a customer can deposit money right onto their card.
According to PointsBet, when an individual signs up for an EML card they can deposit money into their account as they wish and the bank will not deny the transaction strictly for precautionary reasons, as some banks do. Thus, bettors can begin wagering instantaneously.
The program is only available to customers in New Jersey.
The card can also be used as a regular debit card at most retailers, the company said in a statement. Payouts from gaming winnings can either be deposited directly into their account or “used online, in-store, in-app or at ATMs.”
EML said customers will also be able to withdraw funds from their accounts without issue.
"The launch of the PointsBet reloadable payments card represents an exciting time in sports betting for both PointsBet and EML,” said Jamison Jaworski, president Americas, EML Payments. “Both companies understood the importance of being first to market with an acquiring and payout solution to enhance the PointsBet gaming experience, boost brand loyalty and meet the challenges of today's rapidly evolving U.S. online sports betting landscape.”
That EML is first introducing its PointsBet reloadable card services program to consumers in New Jersey coincides with the state being at the forefront of legalized sports betting within the U.S. following the U.S. Supreme Court striking down the Professional and Amateur Sports Protection Act of 1992 last May, a ruling that opened the way for legalized sports betting outside of Nevada.
In the aftermath of the Supreme Court’s decision, New Jersey became the first state to both legalize online sports betting and have operational sportsbooks.
Delaware, Mississippi, New Mexico, Pennsylvania, Rhode Island and West Virginia have since opened functioning sportsbooks, and many other states are either close to passing legislation legalizing sports betting or contemplating doing so. New Jersey is second only to Nevada in amount of money wager via sports betting.
EML offers similar reloadable prepaid card programs in Australia, Europe and the U.K. PointsBet is hoping to expand its service to other states in the U.S. where sports betting is legalized.
The company recently signed former NBA MVP and Naismith Memorial Basketball Hall of Famer Allen Iverson and former NFL star Darrelle Revis as celebrity endorsers.
"Our relationship with EML has allowed us to quickly and seamlessly integrate a withdrawal method that is unique to the U.S. sports betting market,” said Johnny Aitken, U.S. CEO, PointsBet.
“While other sportsbooks are still trying to figure out how best to payout winnings to their players, PointsBet is able to focus on making continual improvements to our existing process and providing a VIP experience."