The Pointsbet Holdings Ltd (ASX: PBH) share price is currently up by 7%. That means that it's now up by 12% for the week.
Pointsbet shares have gone up so much that it has risen by around 37% since 1 August 2022.
Today's 7% rise comes at the same time that the S&P/ASX 200 Index (ASX: XJO) is up by just 0.1%. So, Pointsbet's share price has experienced significant outperformance.
The Jumbo Interactive Ltd (ASX: JIN) share price is down 1.4% and the Tabcorp Holdings Limited (ASX: TAH) share price is up 0.7%. So, it's not as though the entire 'gambling sector' is soaring.
The company hasn't released any material information today. The last news that investors heard was the FY22 fourth quarter update. Updates can have an influence on the Pointsbet share price.
Quarterly recap
Looking at the overall numbers (which is Australia and the US combined), Pointsbet said that sports betting turnover for the quarter was $1.3 billion, up 32%. The sports betting gross win was up 24% to $122 million and (including iGaming) the total net win was up 41% to $85.8 million.
This meant that, for FY22, sports betting turnover was up 32% to $5 billion, the gross win went up 41% to $497.8 million and the overall net win (including iGaming) jumped 48%.
Pointsbet share price snapshot
Since the beginning of 2022, Pointsbet shares have fallen 44% despite today's rise.
