BetMakers Technology Group Ltd (ASX: BET), a leading provider of wagering technology and data services, has reported strong growth across its operations, underpinned by increased platform activity, key product upgrades, and expansion across international markets. The results reflect the company’s ongoing strategy to deliver scalable technology solutions to the global racing and betting industry.
With enhanced product offerings and a growing global client base, BetMakers is positioning itself as a critical enabler of digital transformation in wagering, supported by a disciplined focus on innovation, market integrity, and operational efficiency.
BetMakers reported robust revenue growth for the reporting period, with gains across all three of its primary business segments: Global Betting Services, Global Tote, and Global Racing Network.
Growth was driven by higher wagering turnover processed through BetMakers’ platforms, an expanding client base across Europe, North America, and Australia, and increasing demand for bespoke data feeds and fixed-odds management tools.
The company highlighted double-digit growth in recurring revenue, which reflects greater adoption of its Software-as-a-Service (SaaS) model, particularly among tier-one operators. Platform utilisation rates rose meaningfully, with customer retention and upselling playing a strong role in driving total revenue uplift.
Recent product innovations have significantly enhanced both the functionality and scalability of BetMakers’ platforms, making them easier to integrate and broadening the range of services offered to clients. Key enhancements include streamlined race-day controls and optimised betting engine performance, expanded data visualisation and real-time analytics tools, new fixed-odds trading features with advanced margin management capabilities, and improved international content delivery with multilingual support. These upgrades aim to provide a more flexible and responsive experience for wagering operators across diverse markets. These upgrades are aimed at improving end-user experience and enabling operators to differentiate their offerings in increasingly competitive markets. The company continues to prioritise modularity and API-based architecture to enable seamless onboarding and service customisation.
BetMakers’ global footprint continues to expand, with a growing number of partnerships in North America, Europe, and New Zealand supporting international revenue growth. The company’s US presence remains a strategic priority, where demand for legalised fixed-odds and pari-mutuel wagering is increasing.
The Global Tote division has continued to win new contracts and extend existing ones, supporting stronger top-line performance and deeper market penetration. BetMakers’ ability to integrate local and international content through a centralised platform is viewed as a competitive advantage in regions transitioning toward regulated online betting.
In Australia, BetMakers has further embedded its solutions within greyhound, harness, and thoroughbred racing organisations, providing robust market data, compliance services, and live content feeds.
The company has reaffirmed its commitment to ongoing investment in core technology infrastructure, including automation, cloud scalability, and machine learning applications for risk management and customer profiling.
These investments are designed to deliver margin expansion over time, reduce manual intervention, and support greater operational leverage as volumes grow. BetMakers’ tech stack also enables clients to access highly configurable trading tools and data-driven insights, which continue to be a key point of differentiation.
Efficiency gains in support services and cost control initiatives contributed to stronger EBITDA margins in the period, with management targeting further improvements in FY25.
BetMakers plays a key role in ensuring wagering integrity and racing compliance through its proprietary monitoring systems, race-day controls, and integrity data reporting. This capability is central to the company’s value proposition and a critical factor in winning long-term industry trust.
The business continues to expand its ecosystem through strategic partnerships with racing bodies, bookmakers, and technology partners, creating a network effect that enhances both revenue potential and product innovation.
Notable deals during the period included extended data rights with international racing jurisdictions, as well as integrations with leading wagering platforms to broaden market access.
Looking ahead, BetMakers has outlined several strategic growth priorities aimed at strengthening its position in the global wagering technology sector. These include scaling its Global Tote and Global Racing Network operations within regulated jurisdictions, enhancing its fixed-odds technology while deepening integrations with sportsbooks, and expanding its suite of real-time analytics and customisable trading tools. Additionally, the company is focused on building upon its market presence in the United States and exploring new opportunities across emerging racing markets in Asia.
The company also plans to further invest in its operational resilience and compliance frameworks to support its expansion into more complex regulatory environments. Management remains confident in BetMakers’ ability to deliver long-term value as a platform-first business in the evolving global wagering sector.
Chifley Tower, 2 Chifley Square,
Sydney NSW 2000
1300 854 151
© 2023 KOSEC | Kodari Securities Pty Ltd | ABN 90 147 963 755 | FSG | Terms & Conditions | Disclaimer & Legal
© 2023 KOSEC | Kodari Securities Pty Ltd
ABN 90 147 963 755
KOSEC - Kodari Securities does not provide any investment advice, nor is anything mentioned an offer to sell, or a solicitation of an offer to buy any security or other instrument. Anything discussed is for informational purposes only and does not address the circumstances or needs of any particular individual or entity. Investing in the stock market is high risk. Under no circumstances should investments be based solely on the information provided. We do not guarantee the security or completeness of information on this website and are not held liable. Kodari Securities PTY Ltd trading as KOSEC is a corporate authorized representative (AFSL no.246638) which is regulated by the Australian securities and investment commission (ASIC).
