PointsBet, a global sportsbook operator based in Australia, has launched its online sports betting platform in New Jersey.

PointsBet is now the ninth operator to enter the legal New Jersey sports betting market and is operating in the state thanks to a partnership with Meadowlands Racetrack.

The Australian sportsbook operator will offer bettors in the Garden State traditional betting options as well as an intriguing new type of betting called PointsBetting.

PointsBetting is essentially a high-risk form of spread-betting that rewards players with more money the more they are correct.

In a statement, the company explained how PointsBetting works: “If a user bets $10 on the over, and the total ends 10 points over, that nets users $100. Stop-loss settings are able to be set by a bettor if they wish to limit their win and loss position. Users will still be able to make fixed odds wagers, which give a simple win-or-lose scenario.”

Residents in the Garden State can use the PointsBet app to place wagers on sporting events all over the world, as well as professional and collegiate sports in the US.

New Jersey residents can access PointsBet in web browsers via PointsBet.com or by downloading the PointsBet mobile app for Android or iOS.

Johnny Aitken PointsBet US CEO said: “We’re extremely excited to bring PointsBet’s premium and game-changing sportsbook and signature betting options to the US.

“By offering some of the world’s sharpest betting offers and prices, we have the back of all sports bettors, no matter how sophisticated they are, and we’re serious about offering a one-of-a-kind VIP betting experience.”

PointsBet is also partnered with Tioga Downs Casino in New York and will launch sports betting operations in New York if the state moves to legalize sports betting.

Although PointsBet is new to the US, the company saw a strong performance in Australia last year, paying out over $300m and generating more than 147,000 bets in a single day.