PointsBet

PointsBet Holdings Limited operates as a corporate bookmaker in the online sports and racing betting market. The company was co-founded in 2015 by Sam Swanell, along with brothers Andrew and Nick Fahey. Swanell, the Group CEO, has extensive experience in the wagering industry, having previously managed the startup TomWaterhouse.com, where he worked with Andrew Fahey. The initial concept for a niche spread betting model came from Andrew, while Swanell focused on capital and Nick Fahey managed the accounting. The company is publicly listed on the Australian Securities Exchange (ASX:PBH), having made its debut on June 12, 2019.

The company's primary business is conducted through its scalable, cloud-based wagering platform. Revenue is generated from sports and race betting services provided to customers in its core markets of Australia and Canada. For the fiscal year ending June 30, 2024, PointsBet reported a net revenue of $245.5 million. A key differentiator for the company is its proprietary "PointsBetting" product, a high-risk, high-reward form of wagering where the amount won or lost is determined by how accurate a bet is, rather than traditional fixed odds. For instance, if a bettor wagers on a team to win by more than 7 points and they win by 10, the payout is multiplied by the three-point difference. This creates a dynamic where every point matters until the end of the game. To manage the inherent risk, the platform offers a "Stop-Loss" feature that allows users to cap their potential losses and winnings.

Initially launched in Australia in February 2017, PointsBet quickly expanded its offerings to include traditional Fixed Odds Sports and Racing. The company has since grown into a global operation, with a significant presence in North America. A major strategic development was the sale of its U.S. business to Fanatics Betting and Gaming for $225 million, a deal completed in fiscal year 2024. This has allowed the company to focus on its Australian and Canadian operations, where it has seen market share growth. In addition to sports betting, PointsBet also offers iGaming products like online casino games in Canada, with a shared wallet for a seamless user experience. The company has also been proactive in adapting to regulatory changes, reducing its marketing spend and shifting focus to responsible advertising practices.

Keywords: sports betting, online wagering, PointsBetting, bookmaker, horse racing, iGaming, spread betting, ASX listed, gambling technology, responsible gaming