PointsBet records 13% net win growth for Q1

During Q1, PointsBet’s US operations recorded a total net win of AU$29.5m, representing growth of 101%.

pointsbet q1 report
Listen To Article

PointsBets has dropped its Q1 report, showing that its sports betting handle increased by 18% – totalling AU$1.16bn (US$760m).

Furthermore, during the first three months of the year, PointsBet recorded a total net win of AU$78.8m, up 13% on Q1 2022 – with its sports betting gross win margin falling by 2% (as seen in the graph below).

In Australia, its operations suffered losses across the board, with its handle falling by 3% to AU$611.9m and its net win recording AU$47.5m, representing a 13% loss.

Highlighting its US operations, the sportsbook operator’s total net win was up 101%, totalling AU$29.5m. Much of this came from its iGaming vertical, which saw an increase of 229% to AU$7.2m.

PointsBet’s US sportsbook operations also saw growth, reaching AU$22.3m for Q1 2023, against a 2022 total of AU$12.5m.

Despite the positive Q1 report from PointsBet in the US, which showed that its operations were healthy, the company recently announced that it had begun the process of a strategic review to either sell its US operations or merge with another company.

It hired investment banking firm Moelis & Company to handle the sale, with the Australian company saying in a statement: “We believe further industry consolidation is inevitable.”

PointsBet withdrew its application for a sports betting licence in Massachusetts in March, indicating that it was no longer committed to expanding its presence in the US at the same pace as some of its competitors, such as FanDuel or DraftKings.

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Soft2Bet
Scientific Games
Digitain Malta
Follow Us

Facing Facts: Q3 2024 analysis

Gambling Insider takes a look at the Q3 results of operators...

Taking stock: The final count of 2024

Gambling Insider tracks operator and supplier prices of some...

CEO Special: Flutter CEO Peter Jackson – Playing to win

As the biggest publicly traded operator in gambling meets th...

CEO Special: Holland Casino CEO Petra de Ruiter – High flier

Petra de Ruiter, Holland Casino CEO, speaks to Gambling Insi...

A welcome from your host

A message from the Founder of the Global Gaming Awards and G...

From the event manager

A message from the Event Manager of the Global Gaming Awards...

From the Awards adjudicator

KPMG in the Crown Dependencies is the official voting adjudi...

The process

The Global Gaming Awards have deservingly earned the reputat...