PointsBet has released its full-year financial results for fiscal year 2024, showing a positive performance from the operator, with total net win increasing 16% to AU$267.1 million (approximately US$173.6 million).
Overall, sportsbook turnover increased 4% year-on-year to A$2.93 billion, with net win increasing 14% to A$248.3 million.
However, it was in the iGaming area that the company's performance grew most significantly, with net winnings reaching AU$18.8 million, a year-on-year increase of 63%. After exiting the US market, PointsBet continues to grow its market share in Australia and Canada.
On an individual region basis, PointsBet's Australian business grew by 3% in active customer numbers in Q4 FY24 compared to Q3, reaching 227,900 cash active customers in the quarter, i.e. in the 12 months to the relevant period end Customers placing cash bets.
The Australian business unit covers only sports betting, but its net win for the 2024 financial year rose 10% to AU$233.1 million on turnover of AU$2.68 billion.
PointsBet has seen the strongest growth in Canada, with total net win increasing 86% to AU$34 million in FY24, including a 124% surge in sports betting net win to AU$15.2 million and a 63% increase in iGaming net win to AU$1,880 million Australian dollars.
The fourth quarter of fiscal 2024 was an important quarter for PointsBet's Canadian business unit, with sports betting net win increasing 147% compared to the fourth quarter of fiscal 2023 to reach AU$4.6 million.
