PointsBet reports $703m turnover for Q3 FY21

By Peter Lynch

PointsBet has reported turnover of AU$905.2m (US$703.4m) for the quarter ending 31 March 2021, a 236% increase from the prior-year period.

The company’s Australian operations represented $AU423.2m of the total, with its US operations representing AU$482m. The former was a 137% year-on-year increase, with the latter rising 431%.

Gross win climbed 275% year-on-year to AU$100.5m, with Australian operations up 159% to AU$54.8m, and US gross win totalling AU$45.7m, a 715% rise.

Net win for the quarter was up 246% to AU$64.9m, AU$38.2m of which was in Australia, and AU$26.7m in the US. These were year-on-year increases of 147% and 716% respectively.

For the 12 months to 31 March 2021, both PointsBet Australia and PointsBet US reported increases in active clients. The former had 158,041 active clients for the period, a 90% increase for the 12 months to 31 March 2020. And the latter had 127,470 active clients, a 461% increase.

“The performance of the Australia trading business remains an excellent blueprint for PointsBet’s aspirations in the United States,” a statement from PointsBet read.

“PointsBet’s ability to operate a growing, profitable business in the advanced and competitive Australian market, backed by continually improving product and growing brand recognition, provides confidence in the continued execution of its US strategy.”

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