Sports gambling company PointsBet Holding, Inc., is looking to expand deeper into the US and Mexico. In order to achieve that goal, it expects becoming a publicly-traded company will be the best route to take and launched an initial public offering (IPO) last week on the Australian Stock Exchange. Trading under the ticker symbol PBH, PointsBet entered the public realm at AUD$2 ($1.37) and was trading at US$1.79 as of the start of trading yesterday.

This past Monday, PointsBet issued a press release, announcing that it will offer 37.5 million shares for trading under the IPO, with 110 million shares on issue. Any remaining shares are to be held by individuals who have previously invested in the company. CEO Sam Swanell adds, “Similar to the way we allow fans to take part in sporting events, our public offering allows fans to take part in us, as a company and as a platform.”

PointsBet has been around since 2017, but entered the US sports gambling market this past January when it opened an online sportsbook in New Jersey. Three months later, it launched its first retail sportsbook after signing a partnership agreement with Catfish Bend Casino in Iowa. That arrangement also included the company operating the casino’s online sports gambling operations, as well.

PointsBet provides different betting options, including traditional options and more unique bets. The company’s “Pointsbetting” allows a gambler to increase their winnings, or their losses, based on the performance of the wager’s target against the spread. If Tiger Woods is favored to win by three strokes and the bet is $100, the final award would be $300 if Woods pulls off the victory by the three strokes. If not, and he wins by just one stroke, the gambler loses $200.