Betr achieves positive growth after BlueBet merger

Betr has announced it has delivered on its goal of achieving positive growth for the 2024/25 financial year, reporting EBITDA of $7.2 million just one year after finalising its merger with BlueBet.

The company posted turnover of $1.4 billion, gross win of $196 million and net win of $147.8 million, marking a 140 per cent increase compared with the pre-merger BlueBet business.

Total wagering revenue of $132 million was generated from 155,420 active customers, with 83 per cent of that figure coming from racing and 17 per cent from sports betting.

Alongside the integration of BlueBet, Betr exited the US market and finalised its $10 million acquisition of TopSport. It also undertook a $130 million equity raise, which helped it secure close to a 20 per cent stake in takeover target PointsBet.

Looking ahead, Betr has identified three key growth areas for the upcoming financial year: expanding its scale through targeted strategic investment, strengthening its brand presence via a refresh, and launching innovative new products to capture more market share.

Punters comparing betting sites can expect Betr to play a more prominent role in the competitive Australian wagering landscape over the next 12 months.