Why the PointsBet (ASX:PBH) share price shot up 7% today

The PointsBet Holdings Ltd (ASX: PBH) share price just hit the proverbial jackpot. At close of trade today, the online bookmaker’s shares were trading for $13.93 – up 7.32%. The upwards movement came as the company announced it was strategically placed to deal with upcoming regulatory hurdles.

For comparison, the S&P/ASX 200 Index (ASX: XJO) finished the day up 0.84%.

Let’s take a closer look at today’s news and how it might have affected the PointsBet share price.

Illinois reverts back to in-person betting

The PointsBet share price flew today. In a statement to the ASX, PointsBet confirmed the US state of Illinois would no longer suspend rules on in-person registration for online betting. The regulation, which was signed…