Pointsbet is one of the fastest growing bookies

by Noah Taylor Last Updated
Shaq to become face of PointsBet?s Australian operations

The Pointsbet online sports betting platform is one of Australia’s fastest growing bookmakers of its kind.

The bookie is an Australian-founded brand that features premium, cutting-edge sports betting software which has been dominating the market.

Gamblers News reports that in addition to offering loads of online sports entertainment to Australian players, it also accepts international players.

The bookie’s extensive sports betting offering includes an excellent variety of markets, sports and leagues such as NHL, MLB, NFL and NBA among others.

While the company which operates the bookie is based in Australia, the major Pointsbet betting platform aims at catering to customers residing in the United States.

The Pointsbet Holdings Proprietary Limited company, which owns and operates Pointsbet, has just recently revealed its financial results revolving around the final three months of last year.

These financial results show that the company had experienced significant increases in its registered customers, net win and turnover numbers.

The Sydney-listed company used its official filling released on the 31st of January to share more details regarding its financial status for the final months of 2019.

As detailed, the company’s fourth-quarter turnover had increased by around 110.6 per cent on a yearly basis to hit around $198.6 million.

At the same time, the company’s gross win increased around 12.3 per cent to just over $19.3 million.

The company’s official financial report also showed that Pointsbet Holdings had also experienced a massive 123 per cent increase in its active customers to reach 102,155.

At the same time, the company has also managed to increase its net win by around 117 per cent to $12 million.

The Pointsbet sports betting operator owned and operated by Pointsbet Holdings entered into the growing United States market in 2018.

At the time, the company launched its domain, which caters to players residing in the state of New Jersey.

Success in Iowa

Shortly after this debuting success, the company also premiered its online and retail sportsbook in the state of Iowa, which was made possible via a business partnership with the state’s Catfish Bend Casino.

Since this time, the Melbourne-based company has inked similar business deals which allowed it to expand across a number of states including Michigan, Colorado, Illinois and Indiana.

Furthermore, the company also closed out in January 2020 by signing another crucial business deal with the Kansas Crossing Hotel and Casino facility.

When it comes to the company’s fourth quarter turnover from its US sports betting operators, it had hit around $75.1 million thanks to a massive gross win over $5.4 million and thanks to around 17 per cent more active players.

Regarding its American operations, the company’s officials also stated that its New Jersey operations had accounted for around 97 per cent of these growing revenues, which hit around $72.6 million.

It was also revealed that the company’s Iowa-based enterprise had also contributed to growing revenues with around $2.4 million, although it premiered several months ago in August.

The company’s officials further highlighted the massive importance of its American operations by revealing that the company’s net win from its New Jersey and Iowa operations had reached $2.3 million with high rollers providing around 44 per cent of those net revenues.

The company’s press release concluded that Pointsbet is well positioned to benefit more from the growing opportunities that these markets offer.

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