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PointsBet Latest provider of detailed quarterly surges

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pointsbet latest provider of detailed quarterly surges

USD 100 bills. AFP PHOTO / NOEL CELIS (Photo by NOEL CELIS / AFP)

Australia-based sports betting operator PointsBet detailed the status of its business in a conference call chaired by company executives last week. Citing their global reach, those same executives pointed to an increased presence in the exploding US legal sports betting scene due to their impressive third-quarter growth.

It was a marketing boost and the ability to infiltrate new US betting courts that brought charges against PointsBet’s growing handles in the third quarter. Although the quarter actually ended with a net loss due to the cost of expansion, the company is posting positive cash on hand as the world emerges from the COVID-19 crisis and sports betting becomes more mainstream around the world.

About this income

PointsBet reported on Thursday that their global handle hit $ 704.2 million in their call for profits, and a net profit from those numbers of $ 50.5 million. Their total value represents an increase of 236% over the previous year, while the net profit is 246% higher than in the same period last year. The company’s net earnings rate was around 7%, which is average for the global sports betting scene.

As mentioned earlier, PointsBet closed the quarter with a net loss of $ 21.3 million, mainly due to the cost of rapidly expanding within the US scene. On the upside, however, the company had $ 255.1 million in cash with no outstanding debt.

US presence of PointsBet

PointsBet’s strong moves in the US legal sports betting market last quarter were instrumental in moving the company into a new tier of legal sports betting. With 6.9% market share in New Jersey and 7.5% market share in Illinois, PointsBet reached new heights in six states and with market access in 16 states.

Their US handle for the third quarter was $ 375 million, up 431% year over year. Their net income for the period was $ 20.8 million, a whopping 716% higher than the third quarter last year.

The number of active users in the US market rose to 127,470, an increase of 461% year over year and an 87% increase since the last quarter. This growth was primarily due to PointsBet gaining market access in Mississippi and Pennsylvania through its existing, valuable and mutually beneficial relationship with Penn National.

Not done with expansion plans

PointsBet has been aggressive and largely successful with its global expansion plans, but in Thursday’s call to investors, Brass said it wanted to become an even bigger factor in the US market.

While PointsBet lives in six states, PointsBet has market access in 16 states – some of them have launched their own legal sports betting platform, others have not. The goal set on Thursday was for PointsBet to be active in 18 states by the end of 2022 and gain market access to the potential Canadian $ 5.9 billion market that hasn’t even been legalized.

The company’s acquisition of Banach Technology for $ 43 million on March 16 also aims to expand not only reach within the US scene, but also PointsBet’s in-play betting offering for its customers to expand around the world. In-play is widely seen as the future of the betting industry and could eventually represent 75% of PointsBet’s business. At the moment it’s only 20%.

The challenges ahead

PointsBet faces a number of challenges. One is the sheer volume of competition in the market, especially in the US. Much of the competition has a strong existing customer base, and some have an integrated base thanks to the DFS platforms that existed prior to the US Supreme Court lifting the general ban on sports betting in 2018. The two DFS providers became sports betting providers in this case you have one serious leg up.

Customer acquisition costs are another major obstacle for PointsBet and are indirectly related to the competition. According to the latest statistics from PointsBet, the initial cost is dropping below $ 500 per new user – others like the DFS brands are said to be in the range of $ 200 for initial cost.

PointsBet’s partnership with NBC Sports, which has a presence in all of the heavyweight betting states of New Jersey, Illinois, Indiana, Colorado, Michigan and Iowa, puts the company in a good position for the future. An upcoming launch in Pennsylvania also gives the betting company industry credibility.

PointsBet has seen exponential growth over the past 12 months. Your net loss can be counted towards “business expenses”. Given that expansion could slow down for the betting company in the near future, we may be talking about huge profits rather than net losses for the company at this point in the next year.

Source * www.sportsbookreview.com – * Source link

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Montreal Canadiens coach Dominique Ducharme symptom-free, hopes to return in days

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MONTREAL – Canadien’s interim coach Dominique Ducharme said on Sunday that he had remained symptom-free two days after testing positive for COVID-19 and that he hopes to be back behind the bench during the Stanley Cup semi-final series in Montreal against Vegas.

Ducharme wore a dark blue collared Canadiens shirt, white hair and a familiar short stubble on his chin and spoke to reporters from an unknown location during a 12-minute video conference, his first comments since his mandatory isolation.

“I wish I could be on the rink now. I don’t feel any different than I did a week ago,” said Ducharme as the Canadiens prepared to host Vegas in Game 4 on Sunday night.

Montreal has a 2-1 lead in the series, Game 5 in Vegas is scheduled for Tuesday. If necessary, Game 6 will be played in Montreal on Thursday and Game 7 in Vegas on Saturday.

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Ducharme was asked if he would have to spend 14 days in isolation.

“I’m confident I’ll be back before that,” he said.

Ducharme said he was fully vaccinated against the coronavirus and would end the two-week waiting period after his second vaccination on Wednesday.

It is unclear whether 48-year-old Ducharme will be able to return at this point.

“Until then, nothing has been confirmed. The organization is in contact with the authorities. It is a unique situation. We have been isolated since December,” said Ducharme in French.

Ducharme said no one he had contact with, including his girlfriend, tested positive. He said he was following NHL COVID-19 protocols when the Canadiens traveled to Vegas last week to open the series.

The Canadiens were restricted to certain areas of their Vegas hotel and had to take the bus to and from the ice rink.

Montreal, a member of the NHL’s Canadian North Division, is the only Canadian team to cross the line this season after teams were restricted to play within the division in the second round of the playoffs.

“It’s frustrating because I did everything you asked us to. I never exposed myself. I was so unlucky,” said Ducharme, who is in daily contact with his team and employees by phone and video call.

This is the second straight postseason that Montreal assistant Luke Richardson has had to step in in an emergency. Last summer, Richardson and former assistant coach Kirk Muller shared coaching duties after Claude Julien was hospitalized with chest pain after the first game of the Montreal-Philadelphia first-round series.

Julien missed the rest of the playoffs and resumed coaching that season before being sacked and replaced by Ducharme on February 24th.

It was difficult for Ducharme to watch out of isolation as the Canadiens recovered in Game 3 on Friday with a 3-2 win in extra time after two one-goal deficits.

“You feel helpless to watch and hope for the best. It’s a strange situation,” said Ducharme. “A special situation, but it was a special year. We’ve been through a lot. And we’ll get through that.”

The Canadiens had the worst record of the NHL’s 16 playoff qualifiers before upsetting Toronto and Winnipeg in the first two rounds.

The Golden Knights have already seen this scenario this postseason. Colorado Avalanche coach Jared Bednar missed a morning skate due to a COVID-19 test irregularity and was released in time to coach in Game 6 of the second round series against Vegas.

Source * news.google.com – * Source link

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Brooklyn Nets Guardian Spencer Dinwiddie wants to turn down the $ 12.3 million player option

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Brooklyn Nets Guardian Spencer Dinwiddie plans to turn down the $ 12.3 million player option on his 2021-22 contract and become an unrestricted free agent before the deadline on Monday, sources told ESPN’s Adrian Wojnarowski.

Dinwiddie missed most of the season with a cruciate ligament injury in his right knee and appeared in just three games. He tried to possibly get back to the NBA final, but the Nets were eliminated by the Milwaukee Bucks in the Eastern Conference semifinals on Saturday.

Dinwiddie, 28, has had a history of ACL injuries. During his junior year in Colorado, Dinwiddie tore his left ACL in one game and missed the rest of the season.

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Dinwiddie was a key player for Brooklyn last season, starting in 49 games when Kyrie Irving and Caris LeVert were out injured. He averaged 20.6 points and 6.8 assists in the 2019-20 season but was diagnosed with COVID-19 in late June and did not travel to Orlando with the Nets to restart the season.

The 6-foot-5 Dinwiddie has averaged 12.9 points and 5.0 assists over portions of seven seasons with the Nets and Detroit Pistons.

Source * news.google.com – * Source link

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The Uganda Olympic trainer tests positive for Covid after arriving in Japan

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Uganda Olympic Committee President Donald Rukare said the unnamed trainer had no symptoms. It is not yet clear whether the trainer, who is in a government facility, will be banned from participating or sent home.

The entire Ugandan Olympic delegation, which includes 26 athletes and 30 staff, has been fully vaccinated with two syringes of AstraZeneca, Rukare said.

Many received their second dose of the vaccine this month, about three months after receiving their first dose, Rukare said.

The eight others who arrived with the Covid-positive trainer have traveled to Izumisano City in Osaka Prefecture, where they will be housed, according to Izumisano City official Hideo Takagaki. Rukare said the octet is in a bubble and is being tested daily.

Japan's leading Covid-19 advisor says holding the Olympics without spectators is "he wishes"

More athletes and employees of the Ugandan Olympic team are expected to arrive in Japan in the coming days.

Ugandans are among the first to arrive in Japan ahead of the Tokyo Olympics amid security concerns as the country battles a fourth wave of Covid-19. The Asian host nation has fully vaccinated less than 7% of its population, and doctors are warning that an Olympic super-spreader event could bring Japan’s overburdened medical system to the brink. At least 10,000 of the 80,000 people who have signed up for help with the Games have already stopped, and Japan’s top coronavirus advisor said Friday that hosting the Olympics with no spectators would be “desirable”. Uganda’s Olympic athletes are some of the first people in the African nation to receive the vaccine – Uganda has one of the lowest vaccination rates in the world, with only 2 doses per 100 people. The country of 45 million people is currently battling a second wave with reported cases up 130% in the first two weeks of June. Uganda also has a relatively high test positive rate, with 19% of tests being positive according to Johns Hopkins University, suggesting that authorities are not covering all Covid-19 cases. This week has the Uganda Rugby Union tweeted that the Sevens national team withdrew from an Olympic qualifier in Monaco after reporting Covid-19 cases within the team.

Source * news.google.com – * Source link

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