PointsBet confirms revenue and turnover fall despite rise in customers
PointsBet has confirmed a 16 per cent fall in revenue to $112.7 million for the six months to September 30, with sports-betting turnover down by the same margin to $1.116 billion, even as its rolling 12-month base of cash active clients grew 6 per cent to 310,058.
The result, in line with the trading update released on October 13, left the bookmaker with a normalised earnings before interest, tax, depreciation and amortisation (EBITDA) loss of $6.9 million, against a $2.9 million profit in the corresponding six months of 2025.
Australia drove the decline. Turnover fell 14 per cent to $1.031 billion and revenue dropped 19 per cent to $91.8 million, while cash active clients rose 2 per cent to 237,265. Australian segment EBITDA fell 76 per cent to $2.9 million.
PointsBet attributed the fall to “proactive compliance actions”, which it said produced double-digit turnover and revenue declines among its highest-value clients throughout the half. It also pointed to its push for mass-market sports punters, a strategy it said “can lead to short term volatility in Net Win margins”.
Australian net win margin tracked at 10.4 per cent from April to July before AFL and NRL results cut it to 8.7 per cent in August and September, leaving the half at 9.8 per cent, below the company’s 10 per cent target. Although total promotions spend fell 2 per cent, promotions spending accounted for 27.9 per cent of gross win, up from 24.4 per cent, reaching 32.8 per cent across those two months.
PointsBet said gross-profit efficiency improved for racing but softened for sports, where AFL product fees are higher on premium bet types and, in the company’s words, “punitive when margin is low”. It paid $48 million in GST, point of consumption taxes and product fees, equal to 47.4 per cent of net win, down from 49.1 per cent.
