PointsBet Australia turnover up 34% as Down Under gains offset US struggles
Australia-headquartered operator reports 425% growth in US gross win despite US turnover sliding by 9%
PointsBet has reported year-on-year (YoY) double-digit turnover growth at both group level and in its Australian operations, growth which offset a 9% decline in the firm’s US turnover.
Publishing its latest set of financial results, the ASX-listed operator confirmed an 11% increase in turnover at a group level to A$1,326.0m, an increase buoyed in part by a 34% YoY rise in Australian turnover, which amounted to A$727m.
Group gross win amounted to $133.8m during the reporting period, a rise of 60% YoY, while net win rose 61% to A$71.9m. Total net win at a group level, accounting for $5.4m of igaming net win, rose 73% to $77.3m.
Australia proved to be the big winner for PointsBet during its Q2 FY22, with turnover rising 34% YoY to $727m, and gross win increasing 22% to $92.2m during the same period. Australian total net win only rose by 7% during Q2 FY22 to $53.1m.
In contrast to Australian Q2 FY22 growth, PointsBet’s US operations reported a 9% YoY drop in turnover to $598.9m. However, the faltering turnover was offset by a 425% YoY rise in US growth win to $41.6m.
Elsewhere, PointsBet has become the first US sports book operator to offer live, in-game, same game parlay options for NFL and NBA contests as a part of its OddsFactory proprietary technology integration.
As part of the new functionality, bettors will have the ability to choose any live NFL and NBA event, select the ‘Same Game Parlay’ tab, and parlay multiple outcomes in that selected game while watching live.
Users will also have access to boost their live same game parlay odds with PointsBet’s daily Parlay Booster and customers can place a live same game parlay bet during timeouts and breaks in play.
In addition, bettors will now have the ability to instantly build their perfect PointsBet ‘Live Same Game Parlay’ while tracking odds, player performance, and team stats.
PointsBet group COO Mark Hughes welcomed the upgrade to the group’s in-play offering, citing the need to keep up with the emerging trends in live betting across the US market.
“We’re thrilled to now be able to offer live same game betting opportunities to our customers, and to be the first sportsbook to do so is a testament to our team’s commitment to providing the best product and enhancing the user experience,” Hughes said.
Earlier this month, PointsBet trialled its ‘Always On’ live, in-game betting product during the recent NBC broadcast of the NFL Wildcard Playoff game between the Las Vegas Raiders and Cincinnati Bengals.