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Pointsbet Partner

“Can PointsBet's proprietary points-betting product and localised compliance infrastructure sustain a profitable wagering business in Australia and Canada after exiting the hyper-competitive US market?”

Founded2017
HQMelbourne, Australia
IndustryMarketplace / Gig economy
The story

Founded in 2017 with a proprietary 'points betting' mechanic as a competitive differentiator against incumbent bookmakers, PointsBet expanded aggressively into the US and Canada during the post-PASPA legalisation wave. The US expansion required embedded finance infrastructure for regulated payouts, leading to the 2023 Trustly/Cross River RTP payout partnership. In 2024 the company sold its US operations to Fanatics Betting & Gaming and refocused capital on its core Australian and Canadian businesses, where AML/KYC obligations (source-of-funds checks) remain central to its compliance posture.

Last 12 months
2024
Product timeline
2017
PointsBet founded in Melbourne, Australia, launching its proprietary points-betting wagering product.· pivot
2019
PointsBet listed on the Australian Securities Exchange (ASX) via IPO.· ipo
2021
US expansion accelerated with launch in multiple regulated states under PointsBet USA Inc.· banking
2022
PointsBet Canada launched in Ontario following iGaming Ontario market opening.· banking
2023
PointsBet partnered with Trustly and Cross River Bank to offer instant RTP payouts to US players.· banking
2024
PointsBet divested its US business to Fanatics Betting & Gaming and refocused on Australia and Canada.· pivot
Regulated entities
Online Sports Wagering Licence
Australia (state/territory regulators)
PointsBet Holdings Limited
iGaming / Sports Betting Licence
US (multiple states)
PointsBet USA Inc.
Online Gaming Licence
Canada (Ontario)
PointsBet Canada
The stack
Payments / PSP
Trustly
Banking / BaaS
Cross River
Open banking
Trustly
Sponsor bank
Cross River Bank, N.A.
Accounting gap: none