Tag: BetMakers Technology Group

BetMakers recorded revenue of AU$95.2m (£49.1m/€58.4m/$64.7m) for its 2024 financial year, with its international presence credited as driving growth.
The figure marked a minor increase of AU$200,000 for BetMakers compared to 2023, while a focus on costs helped slash the supplier’s adjusted EBITDA loss for the 12 months ended 30 June 2024.

Its Global Tote division, which has a presence in more than 35 countries, drew in the majority of the revenue. It delivered AU$54.8m, representing 58% of total revenue – a 3% year-on-year increase.

In FY2024, BetMakers entered into or renewed contracts with 29 operators around the world. International customers are a growth focus while its domestic platforms and the loss of its contract with Betr held it back, it explained.

During the year it signed a two-year market access and content agreement with Bet365 to distribute horseracing content to customers in New Jersey and Colorado in the United States. Caesars Entertainment has launched BetMakers’ ..

BetMakers chief executive Todd Buckingham said the business is now “unquestionably robust and independent of any single contract or strategy”, following rapid revenue growth in 2021-22, aided by the acquisition of Sportech’s global tote arm.

The business brought in AU$91.7m in revenue during the year ended 30 June, though its losses also increased following the deal.

Global betting services – which previously made up the vast majority of BetMakers’ revenue – brought in AU$19.5m, up by 179.3%.

However, with acquisition-driven growth in other segments, it was no longer the leading revenue generator for the business.
Instead, the global tote arm – acquired from Sportech last year – was the new leader. Tote revenue was AU$46.9m, up from just AU$1.7m a year earlier as the acquisition closed in the final weeks of 2020-21.

The BetMakers global racing network brought in AU$4.1m, up by 28%.

Costs of goods sold also increased, but more slowly, from AU$9.3m to AU$25.4m, resulting in a gross..