Betr Entertainment Cuts Losses as Wagering Revenue Doubles

Betr Entertainment closed its 2025 financial year with a sharp jump in wagering revenue and a big cut in losses, though its push to acquire PointsBet continues to hit resistance.

Good to Know

• FY25 wagering revenue hit AU$132.3m, up 129% year-on-year.
• Net loss shrank to AU$2.3m from AU$47.5m in FY24.
• Betr raised its PointsBet takeover bid but still faces rejection.

Revenue growth came largely from the integration of BlueBet, rebranded as Betr in Australia last August, and the acquisition of TopSport in April. Together, these deals brought in early cost synergies of AU$25.9m, ahead of expectations. CEO Andrew Menz said the swift integrations gave the business “capacity to reinvest in brand, product and customer intelligence.”

Horse racing delivered the largest share of revenue at AU$57.7m, followed by greyhound betting with AU$39m and sports betting with AU$22.4m. Overall wagering turnover rose 140% to AU$1.42b. Betr exited its small US operations early in FY25, focusing fully on Australia.

On the bottom line, gross profit jumped 90% to AU$58.4m. Net loss from continuing operations was AU$14.8m, but profits from discontinued operations and fair value gains reduced the overall loss to AU$2.3m, a dramatic improvement from AU$47.5m a year earlier.

The financial report coincides with Betr’s ongoing pursuit of PointsBet. The operator already owns 19.9% and recently raised its offer to $1.40 per share, higher than rival MIXI’s $1.30. Still, PointsBet’s board has urged shareholders to back MIXI. Betr Executive Chairman Matthew Tripp insists the offer remains compelling, citing the company’s proven record in acquisitions and integrations.

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