PointsBet Q1 2022 Report Shows 42% Increase
PointsBet Holdings Limited, Australia’s fastest-growing online bookmaker, has released its financial results for the Q1 of its 2022 fiscal year, which ended in September 2021 and recorded a 42% increase in turnover year-on-year.
For the first quarter of 2022, the company declared a group turnover of $735.6m, a 42% improvement compared to Q1 2021’s group turnover of $519.4m. PointsBet also recorded a gross win of $87.9m, 66% more than 2021’s $52.9m, as well as the net win of $50.5m, 76% up than last year’s $28.6m.
Specifically, by countries, the company announced sports betting turnover of $261.7m in Q1 2022 in the United States. A massive 112% increase on 2021 first quarter’s $123.3m.
The operator’s gross win for the quarter in the iGaming market came in at $21.9m, up 197% on last year’s $7.4m. The net win for the region was $9.4m, a 307% rise on 2021 Q1 $2.3m.
In the United States, the state of Illinois recorded the highest-grossing income for the company with a turnover of $98.9m, followed by New Jersey ($76.7m), Colorado ($28.9m), Michigan ($24m), Indiana ($21.8m), Iowa ($10.4m), and West Virginia ($980,000).
The first quarter of 2021 also saw PointsBet making some moves like partnerships with operators in the US/Canadian market, the launch of iGaming product in New Jersey, and becoming an approved operator of the National Football League (NFL), Austin FC of Major League Soccer (MLS), and Curling Canada.
The company also appointed Aaron O’ Sullivan as new Vice President and Kyle Christensen as C.M.O in the fiscal period.