PointsBet Selling Australia Arm

PointsBet Selling Australia Arm To Focus On US Expansion

PointsBet is an Australian sportsbook operator on its way to gaining a lot of space in the online betting environment. This operator is reasonably new to legal betting online, but it has been attracting the attention of millions of pro sports gamblers and fans in the world.

One of the most significant features that make PointsBet different from most betting platforms on the internet is its betting system: almost all average betting operators offer a fixed odds system, while PointsBet provides a distinct point betting system. Our article will focus on highlighting their system and other relevant betting services.

Overview Of PointsBet

PointsBet is entirely dedicated to sports betting, which is a sign that the staff of this operator is a full-time devoted, and experienced team in this particular field. If you are looking for the ultimate sports betting retreat online, PointsBet has everything for you! The operator offers a large selection of bets, including traditional betting options.

In addition to its extensive array of betting options, PointsBet offers to extend betting in certain countries. It’s worth noting that spread betting allows you to win more money depending on your bet accuracy. You can place your wagers online on a large pool of sports. To put it mildly, there are international sports, continental championships, and US sports events, including the NBA, World Series, NFL, and eSports that you can bet on, without worrying about where you’re betting from.

According to online reviews, PointsBet provides standard odds, standard betting lines, and several distinct-point betting options. Usually, sports gamblers can find PointsBet’s unique odds by following the link in each bonus. Also, you can check out this list of new online casinos to learn more about the latest sports operators and their most competitive offerings.

PointsBet Agreement With NTD Limited To Expand To The US

PointsBet has been widely growing in the latest years, which has encouraged the responsibility of the platform to start a new business venture. PointsBet is in talks to sell its Australia arm to a joint venture between News Corp and Fox Sports. The move would allow PointsBet to focus on its expansion into the lucrative US market, where it has already secured partnerships in several states, such as Illinois.

NTD Limited is a new venture that originated in 2023 from News Corp, investment group Tekkorp Capital, and industry executive Matt Tripp. However, the discussion between PointsBet and NTD is in an early stage, which means there’s no certainty about the result of the business discussion. Regardless, PointsBet will provide regular updates according to its disclosure obligations.

The business strategy of PointsBet raised several eyebrows, though. Australian Securities Exchange (ASX), which trades PointsBet, at this point asked the operator about the potential effect of its marketing decisions on the price of its securities. At present, the discussion can’t affect the price of the operator’s securities because the situation is incomplete. Another aspect to consider is the future of PointsBet’s US operations with Betr, a different company that might have a role in the operator’s expansion to the US. Things still look quite murky, but since we are at the beginning of the negotiations, it’s honest to expect that anything could happen.

Not long ago, PointsBet had rejected an offer for its Australian division from New Corp, an investor in Betr that has recently grown its holding in the operator.

PointsBet’s Sports Betting Market in Australia

PointsBet is a rooted sports betting operator in several countries, such as the US, Canada, and Australia, which is its largest market. However, the North American horizon looks promising in terms of profit, which might lead the platform to sell its Australian arm to focus on its expansion in Canada and the US.

PointsBet US CEO Johnny Aitken revealed that the company is now ready to elevate its live betting products. In this regard, the European and US markets offer a more favorable environment for growing the company than the Australian market. North American and European markets are more mature to welcome the sentiment of growth of live betting features.

As the numbers indicate, about 75% of the sports betting profits come from live betting platforms. If the market trend doesn’t take a sudden change, the American market will even exceed this percentage in the next two years. PointsBet is also trying to reduce losses from its US sportsbook in 2023 in light of the company’s expansion. The company expects losses between $52 million and $53 million in the second half of 2023. While decreasing such losses, PointsBet will try to praise as many States as possible to find a breeding ground for the company in the US.

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