The fight to secure betting customers across a never-ending stream of betting apps is heating up, with ASX-listed PointsBet fighting for market share in the juicy American market.
The fight to secure betting customers across a never-ending stream of betting apps is heating up, with PointsBet fighting for market share in the juicy American market while juggling eye-watering customer acquisition costs.
But while the US market is the juiciest prize for online gambling companies, with Bell Potter estimating it will be worth $8 billion and $10 billion in 2025, PointsBet has proven it can operate a sustainable and profitable gambling business in Australia. Here, it enjoys a 5 per cent market share.In FY22, it generated net revenue of just under $200 million from an active client base of about 240,000 Australian customers.
PointsBet has secured an average market share of 3.7 per cent in the United States, with gross win margins at around 6.5 per cent. DraftKings and FanDuel are booking gross win margins of around 10 per cent.Marketing is the main game in online gambling companies that are fighting for fresh eyeballs to turbocharge their “total net win” metrics. Total net win refers to the profits made from customers’ losing bets minus money paid out to customers with winning bets.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX 200 finished the day up on FridaySky News Business Reporter Ingrid Willinge says the ASX 200 finished the day up on Friday by about 0.62 per cent.
Read more »
Five reasons why Tom Brady is the undisputed GOAT of American footballAs the 23-season veteran prepares to move off the field and into the commentary booth, the superlatives have begun to flow. But how good was Tom Brady, really?
Read more »
Virgin Australia wraps pitch talks with banks as IPO momentum buildsJefferies and Credit Suisse have joined five other investment banks, all of which are clamouring to lead Virgin Australia’s return to the ASX boards.
Read more »
Red Bull has a big, muscular, all-American tag-team partner to take on the F1 worldFord will partner with Red Bull as their engine supplier in 2026, with both companies preparing to dominate Formula 1, writes Michael Doyle.
Read more »
Ray Dalio, Cathie Wood and the fate of the FOMO rallyThe stunning rally on the ASX and Wall Street is starting to have some echoes of bullish frenzy in 2021. But the backdrop is very different.
Read more »
Inside the hunt for a serial kidnapper, and a bloody finaleAmerican police in rural southwest Oregon were on high alert: A man with a history of kidnapping and torturing women in two states was on the run in their territory.
Read more »