PointsBet has confirmed that it is currently in discussions with the owners and operators of Australian wagering operator Betr, regarding a potential transaction involving the sale of its Australian trading business.

Any potential transaction will be assessed in the context of PointsBet’s global strategy and opportunities. Discussions between PointsBet and NTD are incomplete and preliminary in nature. There is no certainty that these discussions will result in any binding transaction.

PointsBet will keep the market updated in accordance with its continuous disclosure obligations.

Betr which launched last year after announcing it raised $50 million in funding, is an attempt to create a “TikTokification” of gambling an app where people can place so-called “microbets” as quickly as they would scroll through videos.