PointsBet took in net win revenue of AUD$18.7m (£9.7m/€11.2m/US$12.2m) in the third quarter of its fiscal year, up 139.7%, as its business in both Australia and the US grew, but costs continued to outpace revenue as the operator made a $15.5m loss for the year.
The business’s net win of $18.7m for the quarter ending 31 March came on a gross win – which is revenue before accounting for bonus costs – of $26.8m, up 21.2% and turnover of $268.7m, up 97.3%.
The majority of Pointsbet’s turnover came from Australia, where players bet $178.4m, up 58.3%. US turnover, meanwhile, almost quadrupled to $90.7m. Of this $90.7m, $85.0m came from New Jersey, with a further $5.4m from Iowa and the remainder from Indiana.
PointsBet noted that this increase in betting in the US came despite the fact that almost all sports in the country, including the NCAA basketball tournament, were suspended for the latter half of March.