Published on: November 13, 2024, 12:04h. 

Last updated on: November 13, 2024, 12:04h.

PointsBet Canada is experiencing a positive trend in recent times, with the latest FYQ2 2024 financial report showing a remarkable 57% increase in sports betting handle compared to the previous year, reaching nearly $63.5 million CAD.

Positive Growth

In the Australian fiscal year’s first quarter (equivalent to Q2 in Canada), PointsBet Canada saw a significant increase of 77% in sports betting net win, amounting to $3.73 million CAD. The digital casino segment also recorded a substantial net win of $4.18 million, marking a 50% growth. This financial period spans from June 1 to Sept. 30, 2024.

PointsBet Canada’s CEO, Scott Vanderwel, mentioned in an interview with Casino.org that despite the competitive landscape with 32 licensed sports betting sites operating in Ontario, they have seen consistent user growth and engagement metrics.

Strategic Focus

Vanderwel expressed satisfaction with the progress made in Q2 2024, emphasizing the company’s strategic focus on customer-centric product improvement. The positive results highlight the strength of their digital casino segment, driven by user enthusiasm and favorable feedback. PointsBet Canada remains dedicated to delivering long-term value to Canadian bettors through a comprehensive product offering.

Live, in-play betting plays a significant role in PointsBet Canada’s success, constituting 76% of total sports betting turnover, up from the previous fiscal year’s 68%.

After selling its U.S. operations to Fanatics in 2023, PointsBet now concentrates on its Australian and Canadian operations.

Enhanced Offerings

Vanderwel emphasized the company’s growth strategy in Canada, focusing on developing top-notch sports betting and online casino offerings. The goal is to provide a unique and innovative product that resonates with Canadian bettors. By prioritizing partnerships with local sports leagues and ensuring responsible gaming practices, PointsBet aims to establish itself as a trusted leader in the Canadian market.

Future Planning

Looking ahead to 2025, PointsBet is committed to enhancing customer loyalty tools and creating a more engaging experience for digital casino users. The company has introduced new providers like AGS, Pragmatic, Relax, Playzido, and BluePrint, with recent titles like Money Cart 4, Bigger Bass Bonanza, Who Wants to be a Millionaire, and Live Lightning Ball.

PointsBet is exploring opportunities in Alberta, anticipating the province’s expanded igaming market launch in 2025. The company aims to provide innovative and customer-focused sports betting and online casino experiences in alignment with Alberta’s sports culture and passion for gaming.