PointsBet turnover up 54% for Q3 FY22

PointsBet has reported turnover of AU$1.4bn (US$1bn) for Q3 FY22, a 54% increase from the prior-year period.

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Gross win climbed 24% year-on-year to AU$124.9m, with total net win climbing 18% to AU$76.9m.

The group’s Australian turnover amounted to AU$579.4m, a 37% increase from Q3 FY21, with US turnover growing 70% to AU$818.6m.

Total net win for Australia climbed 37% to AU$52.3m, with US total net win growing 8% to AU$24.6m.

“PointsBet has driven strong growth over the quarter improving our core trading metrics and expanding our addressable market,” said PointsBet Group CEO Sam Swanell. “Sport Betting Turnover was up 54 per cent marking a new quarterly company record of $1.4 billion and total Net Win was up 18% at $76.9 million versus the PCP, which is testament to the quality of our team and our expansion strategy.

“In the United States, Net Win is now up 157% year to date compared to the PCP. PointsBet is among an exclusive group of operators that are live in New Jersey, Pennsylvania and New York. We are pursuing the US opportunity by building a business focused on customer economics, spearheaded by industry leading technology and innovation across in-play betting.

As noted by PointsBet, highlights for the company during the period included the group becoming an exclusive sports betting partner of the NHL Alumni Association, the launch of online sports betting operations in New York, and the launch of iGaming in West Virginia, among others.

Swanell also looked to the future, saying: “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. We remain focused on efficient marketing spend that delivers long-term, high value customers.”