PointsBet recorded a 182% increase in turnover to $986.1 million in its Q4 results. This was driven by a 63% increase in Australian turnover to $494.8 million and a 956% jump in US turnover to $491.3 million.

This brought PointsBet’s full year turnover to $3,781.4 million, which was up an impressive 228% on FY 2020. Driving this strong growth was a 117% annual increase in Australian active clients to 196,585 and a 661% increase in US active clients to 159,321.

PointsBet is also set to undertake a $400 million capital raising to strengthen its balance sheet. PointsBet ended the quarter with $276.17 million in total available funding, representing 6.43 quarters of use if spending levels remain the same.

PointsBet’s managing director and CEO Sam Swanell said, “we see the success of the placement element of our offer as a clear endorsement of PointsBet’s long term strategy.”