PointsBet posts $15.9m net win from Canadian operations during H1 2024

PointsBet has released its financial and business report for the first half of 2024. The company posted a total Canadian net win of $15.9m for the first half of the year, reflecting a 138% increase in activity when compared to figures from the previous year’s period.

Net win from sports betting in Canada rose by 153% year-over-year to reach $6.3m, while net win from iGaming rose to $9.5m and surpassed the previous year’s total by more than 124%.

The company reported a net win margin of 5.3%, which nearly doubled what PointsBet reported during the same period in 2023.

During the first half of this year, gross win from Canadian sports betting climbed to $10m, reflecting a 96% boost when compared to results from the same period last year.

PointsBet reported that its Canadian iGaming net win results for the first half of 2024 set a new company high. During this year’s second quarter, more first-time bettors in Ontario placed wagers during the second quarter than they have during any quarter since the province opened its commercial market almost two years ago.

PointsBet also provided a business update for its projects in the US. During the first half of the year, the company reported the successful transfer of ownership to Fanatics Betting and Gaming for 13 out of its 14 US state legal entities.

The company completed its first capital during September 2023 of $1 per share. Total payout to PointsBet’s shareholders reached $315.4m during the period.

PointsBet is a corporate bookmaker listed on the Australian Stock Exchange with operations in Australia, the United States, Canada and Ireland. Currently, the company’s online sportsbook is live in 12 US states, with iGaming operations live in four states.

Amanda Foster

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