Australian PointsBet Holdings Proprietary Limited Benefiting from American Market Entry

Australian PointsBet Holdings Proprietary Limited Benefiting from American Market Entry
PointsBet benefits from American market entry

The PointsBet online sports betting platform is one of Australia’s fastest-growing bookmakers of this kind. The bookie is an Australia-founded brand featuring premium, cutting-edge sports betting software thanks to which it has been dominating this market for quite some time now. In addition to offering loads of online sports betting entertainment to Australian players, PointsBet 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 many others. While the company which operates the bookie is based in Australia, the major PointsBet sports betting platform aims at catering customers residing in the United States.

Successful 2019 for PointsBet

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

This 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 here, the company’s fourth-quarter turnover had increased by around 110.6% on a yearly basis to hit around $198.6 million. At the same time, the company’s gross win increased by around 12.3% to just hit over $19.3 million.

The company’s official financial report also showed that PointsBet Holdings Proprietary Limited had also experienced a massive 123% 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% to reach $12 million.

PointsBet Entering the USA Sports Betting Market in 2018

The PointsBet sports betting operator owned and operated by PointsBet Holdings Proprietary Limited entered the growing USA-based sports betting market back in December of 2018. At the time, the company launched its domain which caters to players residing in the state of New Jersey. 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 Australian company’s fourth-quarter turnover from its USA sports betting operators, it had hit around $75.1 million thanks to a massive gross win of over $5.4 million and thanks to around 17% more active players. Regarding its USA operations, the company’s officials also stated that its New Jersey operations had accounted for around 97% 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 USA 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% 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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