Australian-based online bookmaking services provider PointsBet is welcoming the return of Australian sports, with the National Rugby League (NRL) scheduled to restart tomorrow, May 28, and the Australian Football League (AFL) to follow suit June 11, both giving a breath of fresh air for the business.
Horse and Hound Racing Saved the Day
Australian operations turned out to be vital for the sports betting company which recently posted its fiscal 2020 third quarter results, where PointsBet posted a record net win quarter. The sports book provider registered records net win for February and March in succession, with a strong tendency in March for clients to switch to higher margin products, thoroughbred, harness and greyhound racing, as a result of the suspension of the NRL and AFL. In its fiscal quarter report PointsBet noted, though, that the continued higher quarter-on-quarter net win margin was partially due to favourable results.
Expansion the Main Theme in the US
In the USA, where PointsBet registered 5.6% share of New Jersey market, the sports betting company achieved a strong net win across the quarter mainly due to the higher net win margin, as almost all sports grinded to a halt mid-March. Operations were dominated by the expansion into new markets theme, with Iowa digital offering having its first full quarter, the launch of the Indiana digital sports book, as well as the secured market entries for Michigan and Kansas.
For the Wolverine State, PointsBet secured a deal with the Lac Vieux Desert Band of Lake Superior Chippewa Indians, while for the Sunflower State, the Australian sports book signed an Exclusive Primary Skin Agreement with Kansas Crossing Casino.
NRL Returns to Action
Despite the many hurdles on the way to the scheduled NRL re-start of the season for May 28, obstacles have been overcome and the league is prepared to resume from round three. There will be some changes, though, with the games in Phase 1 of the re-start being played on 6 stadia only, and the total rounds of the season cut down from 25 to 20.
AFL Re-Start 2 Weeks Away
As the AFL confirmed it will resume June 11, the players returned back in training, having been out of the pitch for almost 2 months since the competition was suspended due to fears of further spread of the infection March 22. The decision to resume was not an easy one, following weeks of negotiations between the league, state governments and health officials.
Uncertainty in the USA
And while both major leagues in Australia are returning to action to give the company a boost, PointsBet outlined the situation in the US is less clear, as none of the major leagues have confirmed dates for resumption. Both the National Basketball Association (NBA) and Major League Baseball (MLB) have expressed hopes to be able to return in July, but PointsBet noted it managed to keep customers engaged through a wagering product expansion, adding free-to-play-offering.