By Aaditya GovindRao

Jan 31 (Reuters) - Shares of Australia's Pointsbet PBH.AX fell more than 19% on Friday and were poised for their worst day in nearly 21 months, after the sports wagering platform operator cut its forecasts for fiscal 2025 operating earnings and revenue.

The stock dropped as much as 19.4% by 0121 GMT and was set for its biggest single-day fall since mid-May 2023. It was the top loser on the S&P/ASX All Ordinaries .AORD index, which was up 0.5%.

Pointsbet lowered the top end of its full-year operating earnings forecast range and said it now sees earnings between A$11 million and A$14 million ($6.83 million-$8.70 million), down from the A$11 million to A$16 million expected in October.

The betting company also lowered its revenue forecast range to A$260 million-A$270 million, from A$280 million-A$290 million.

For the first half, Pointsbet logged A$18.1 million in net win - the difference between receipts from losing players and payouts to winning players - from its Canada business, missing a consensus estimate of A$23.9 million, according to analysts at Jarden.

"Reduction in fiscal 2025 revenue and EBITDA guidance will be the focus of today's result, however we view most of this impact as transitory," analysts at Jefferies said.

They said the downgrade reflects short-term headwinds for Pointsbet, while its long-term operating earnings view remains intact, driven by significant growth prospects in Canada and continued margin improvement in Australia.

($1 = 1.6095 Australian dollars)

(Reporting by Aaditya Govind Rao in Bengaluru; Editing by Subhranshu Sahu)

((Aaditya.GovindRao@thomsonreuters.com;))