Analysis

Why PointsBet cashed out its US chips

The ASX-listed company made a $225 million agreement with US firm Fanatics, which involves a cap on further losses.

Mark Di StefanoColumnist

Updated May 15, 2023 – 2.38pm, first published at 10.57am

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In June 2018, the US Supreme Court struck down a federal ban on sports gambling, effectively firing a starting gun in the world of gambling.

The repeal sparked a frenzy of online bookmakers to pop in US states that legalised sports betting. One of those was ASX-listed PointsBet.

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