Pointsbet revenues surge in first quarter
Pointsbet’s turnover went up 193% to $691.9 million, net win percentage increased by 222% to $38.1 million.
The majority of PointsBet’s turnover continues to be generated in the Australian market. The number of active clients rose by 88% to 164,500. Australian clients rose by 73% and US clients rose by 159%, which was supported by a 130% increase in US turnover to $164.2 million.
“The Company recognises a structural change in the Australian online wagering market, including brand consolidation (BetEasy, previously the third largest brand in the Australian market merging with SportsBet during the quarter) and a shift from retail (venue) to online wagering.
As a result, the company is pursuing a strategy to increase Net Win growth and market share.”