PointsBet, the rapidly expanding bookmaker and casino operator from Australia, has reported its financial results for the second quarter of the 2021-2022 fiscal year, and the number shows the sportsbook managed to double its revenue. In the quarter that ended on 31 December PointsBet recorded revenue of 90.4 million Australian dollars.
In the second quarter of its fiscal year, PointsBet took in bets worth 1.33 billion Australian dollars, a figure which represents an increase of 11.1 percent over the same period of the previous financial year.
The bulk of these bets originated from Australia, where the bookmaker recorded a revenue increase of 33.6 percent to 727 million Australian dollars. However, revenue from the company’s operations in the United States dropped by 9.2 percent to 598.9 million dollars.
The Australian company has high hopes for its presence in the United States as it entered more and more territories in recent months. During the second quarter of the financial year, PointsBet had a 7.4 percent market share in the sports betting market of Illinois, 5.1 percent in Michigan, 3.5 percent in Colorado, 3.1 percent in New Jersey, 2.8 percent in Indiana, 2.3 percent in Iowa and 1.4 percent in West Virginia.
The company’s gross sports betting revenue grew by 60.4 percent to 133.8 million Australian dollars overall. In Australia, the growth was of 22.2 percent compared to the second quarter of the previous fiscal year, to 92.2 million Australian dollars, while in the United States the gross betting revenue increased fivefold to 41.6 million Australian dollars.