Search “PointsBet” from a US address in September 2026 and the trail runs cold fast — no active signup page, no app update, no promo code that still works. That is not a glitch. PointsBet, the Australian company that ran a US sportsbook for about five years, sold that entire business to Fanatics Betting and Gaming in a deal that finished closing in April 2024. This review covers what PointsBet actually was, why it left the US, and what the brand looks like today in the two countries where it still takes bets.

Is PointsBet Legit? Yes — It Sold, It Didn’t Collapse

PointsBet Holdings Limited is a publicly traded company on the Australian Securities Exchange (ticker PBH), founded in Melbourne in 2015 by Sam Swanell. Its US arm launched in 2019 and eventually operated in roughly a dozen states, built around a distinctive “PointsBetting” spread-style wager most US books never offered. Fanatics Betting and Gaming paid $225 million for that entire US business — sportsbook, iGaming, retail sportsbooks including the one inside Commanders Field, and a licence to the underlying Banach Technology platform. The deal closed state by state and finished in Illinois in April 2024. A $225 million sale is an exit on PointsBet’s own terms, not a shutdown.

The short version: PointsBet sold its whole US operation to Fanatics for $225 million, closing in April 2024. Every US account converted automatically into a Fanatics Sportsbook account. PointsBet itself kept operating — just in Australia and Canada, not the US.

What Happened to US PointsBet Accounts

Anyone who had money or open bets on PointsBet in a US state before the Fanatics deal closed did not need to do anything — accounts, balances, and Banach Technology-powered betting history moved over as part of the acquisition. Fanatics used the purchase to accelerate its own rollout, and by the time the deal wrapped it had pushed Fanatics Sportsbook into roughly 20 states plus Fanatics Casino in a handful more. If a reader still has a PointsBet app icon sitting on their phone, the account behind it is a Fanatics account now.

Where PointsBet Actually Operates in 2026

Two countries. Australia is still the company’s largest market by revenue, though that revenue slipped roughly 4% over the nine months ending March 2026 as competition in Australian sports betting intensified. Canada is the growth story: PointsBet has been licensed in Ontario since the province’s regulated iGaming and sports-betting market opened on April 4, 2022, and it has since expanded into Alberta. Canadian revenue grew about 13% over the same nine-month stretch, with the iGaming side up nearly 28%. Neither market accepts US-based players.

How Safe Is PointsBet for Canadian Players? The AGCO Dispute

This is the part worth knowing before treating PointsBet as a clean record. In February 2026, Ontario’s Alcohol and Gaming Commission proposed a five-day licence suspension against PointsBet Canada, saying the operator showed a “systemic failure” to detect, document, and report suspicious betting patterns tied to the Jontay Porter prop-betting scandal — the former Toronto Raptors player who manipulated his own performance so bettors could cash in. The AGCO says PointsBet initially told regulators in March 2024 that it had not offered bets on Porter, then admitted 18 months later, in October 2025, that it had. PointsBet is appealing, attributing the original inaccurate answer to human error during an organizational transition rather than any intent to withhold information, and says it cooperated fully once the discrepancy surfaced. As of this review, the suspension is contested and has not taken effect.

Who Owns PointsBet Now

PointsBet Holdings Limited still trades publicly on the ASX, but control changed hands in September 2025 when MIXI Australia — a subsidiary of Tokyo-based gaming and media company MIXI, Inc. — bought a 66.43% stake. That makes PointsBet majority-controlled by a Japanese parent even though the licensed operating entities remain Australian and Canadian.

Who This Page Is For

Readers in a US state searching for a PointsBet signup bonus should look at Fanatics Sportsbook instead — it is the operator that actually holds the licence and the platform PointsBet used to run. Readers in Ontario or Alberta considering PointsBet directly are looking at a real, regulated operator currently contesting a regulatory suspension, which is worth factoring into how much trust to extend right now. Wherever it’s legal, gambling should stay entertainment spending, never income. 21+ where legal; call 1-800-GAMBLER for help.