Sportsbet revenue up 5% in H1

The Australian sportsbook operator has reported revenue of $743m.

Australia.- Flutter’s australian subsidiary Sportsbet has reported $743m in revenue for the first six months of 2022, continuing its strong revenue from the past year. The figure was up 5 per cent year-on-year.

Sportsbet said it had been focusing on player retention, leading to a 10 per cent increase in the average monthly player count compared to the same period in 2021. Flutter said Sportsbet is now well-positioned to deal with tax hikes in Queensland, New South Wales and the Australian Capital Territory, which are expected to cost $26m a year in 2022 and $88m a year in 2023.

Flutter added that Sportsbet has proven to handle regulatory risk well, as evidenced by its handling the Point of Consumption tax introduced in 2019.