PointsBet Revenue up 220% in Q1 of 2021

PointsBet Sportsbook has a lot to be grateful for in its first quarter, having realized a revenue boost of over 220% in its FY2021 first quarter. The number of customers in Australia, where PointsBet is headquartered, grew by 73.2% to 124,715 while customers in the US market grew by 158.9% to 39,816.

Through it all, PointsBet has also managed to survive a pandemic, as well as completed a A$353.2 million capital raise as we’ve covered here, all while forming several partnerships and introducing iGaming access in New Jersey. PointsBet also launched in Illinois and Indiana.

During the first quarter of its 2021 fiscal year, PointsBet logged a turnover of A$691.9 million (USD 493.3 M), which translates to a 193% increase. Australia was responsible for A$527.7 million, a boost of 221% while the US market added the remaining A$164.2 million, which was a 130% growth.

PointsBet realized a gross victory of A$70.4 million, or a 10.2% gross win margin, which was a 282.6% rise from the same period last year. The number of active clients on the platform also increased by 88% to 164,500. The customer base in the US grew 158.9% to a total of 39,816 while the Australian numbers grew 73.2% to 124,715.

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What has PointsBet Sportsbook been up to this year?

During the first quarter of FY2021, PointsBet also signed a momentous 5-year media deal with NBCUniversal, which effectively made it NBCUniversal’s official betting partner. Other landmark partnerships that PointsBet has secured thus far include deals with Kroenke Sports & Entertainment, Pacers Sports & Entertainment, Twin River, Chicago Bears, the Detroit Tigers, as well as the Indianapolis Colts.

Just recently, PointsBet also partnered up with Hawthorne Race Course to open Illinois’ state-of-the-art retail sportsbook. The PointsBet Sportsbook at Hawthorne is currently located a mere 10 miles from downtown Chicago, making it the first sportsbook to set up shop on the southwest side of the City. An additional 3 sportsbooks will launch at Club Hawthorne in the coming weeks in several neighborhoods including suburban Crestwood, Oakbrook, as well as Prospect Heights.

The PointsBet Sportsbook at Hawthorne was designed bearing in mind the realities of on-site entertainment in a pandemic. As such, it features a bet and go lobby that comes with 6 self-service kiosks. There is also a modular watch and wager sportsbook that has plenty of space to allow the recommended 6 feet distance to be maintained thus keeping bettors safe.

To cement its place in the Illinois sports betting market, it also partnered up with the Chicago Bears, making PointsBet the team’s first-ever sports wagering partner. As a positive gesture to sports fans in Illinois, PointsBet is offering the best price in the market for all Chicago Bears games across the pregame spreadline, as well as on moneyline bets.

PointsBets’ deal with NBC will help it achieve an even stronger stronghold in the American sports betting market. As NBC Sports’ official partners, PointsBet will leverage the media behemoth’s TV and digital assets to promote the PointsBet brand through Illinois.

As part of the deal, NBC Sports will provide the sportsbook with year-round media and marketing opportunities across its unrivaled portfolio of events. This includes game day integrations across NBC Sports Chicago, which also happens to be the regional broadcast home to the Chicago Blackhawks, Bulls, and White Sox. All this will translate to further growth not just in Illinois but also in the entire Chicago region.

Its partnership with NFL’s Indianapolis Colts isn’t too shabby either. The deal will give PointsBet complete usage of the Colts’ IP, logos and branding, sponsorship opportunities, as well as brand visibility, across its various digital platforms and assets.

PointsBet also newly announced a similar partnership with the Pacers, making PointsBet one of the official sports gaming partners of the NBA team. As per the terms of this deal, PointsBet’s branding will be proudly displayed along what is referred to as the apron, which is the prohibited space that exists between the Vaseline and team bench. This is the first time in the team’s history that any sports betting operator will inhabit this space.

The Indiana betting market and PointsBet’s partnership with the Pacers represents a massive growth opportunity for the thriving sportsbook. The opportunity to bolster its presence in the state and surrounding regional areas will ensure even further growth. As sports betting continues to make its way across more states, more opportunities await to be explored by PointsBet.

Earlier on in the years, it also signed a partnership with the PGA Tour, which effectively gave it a foot inside the golf betting space. PointsBet was launched in Australia in 2017 and in 2 short years, it has grown to become one of the most recognizable names in the global sports betting industry. It officially launched in the US sports betting market in 2020 and is now available to punters across 4 states with plans to go live in an additional 8 states.

 

Final Thoughts

PointsBet Sportsbook, a first-class international sportsbook operator, has shown remarkable growth and resilience in the short time that it’s been in business in the rapidly maturing American sports betting market. Business in Australia also seems to be good, despite the challenging times that we find ourselves in during this pandemic.

PointsBet continues to prove its strength by standing out among already established American brands. It has continuously made a name for itself by offering punters an enhanced and personalized gaming experience as well as an array of offerings.

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