PointsBet’s US sports betting handle up 70%
Online sportsbook now live in 10 states, Ontario.
PointsBet, a corporate bookmaker listed on the Australian Stock Exchange with operations in Australia, the United States, Canada and Ireland, on Friday released its Q3 FY2022 results, a three-month period ending March 31.
The company noted it has continued its North American expansion in the first four months of this year, including the launch of its online sportsbook in New York and iGaming in West Virginia in January, introduction of sports betting to Pennsylvania in February, followed by iGaming in the Keystone State in April, and both online sports wagering and iGaming in the Canadian province of Ontario in April.
PointsBet now is live with its online sportsbook in 10 US states plus Ontario, with iGaming live in four states plus Ontario.
With the increased presence, US sports betting handle jumped 70% from the prior comparable period, Q3 of FY2021, from A$482m (US$342m) to A$818.6m (US$580.8m).
Handle was up 37% from the previous quarter, the company said.
Sports betting gross win was up 1% from the same quarter one year earlier, but net win was down 29%.
Net win for iGaming in the United States, which was nonexistent in Q3 FY2021, was A$5.5m in the recently completed quarter.
“In the United States, net win is now up 157% year to date compared to the PCP,” PointsBet Group CEO Sam Swanell said in a statement. “PointsBet is among an exclusive group of operators that are live in New Jersey, Pennsylvania and New York.”
Swanell added PointsBet is pursuing the US opportunity by building what he termed a “business focused on customer economics, spearheaded by industry leading technology and innovation” across in-play betting.
“With our iGaming offering gathering steam, the expansion into more US states and our recent launch in the Ontario market in Canada, the building blocks are in place,” he said. “We remain focused on efficient marketing spend that delivers long-term, high-value customers.”
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