Betr Entertainment, the Australian betting firm, has reported a wider loss of A$40.2 million for the financial year 2026, despite a notable uptick in customer engagement and improved earnings before interest, taxes, depreciation, and amortization (EBITDA) during the second half of the year.
For the fiscal year ending June 30, Betr saw its turnover rise by 12.3%, totaling A$1.59 billion, and its net win climbed by 7% to A$158.1 million. Additionally, the company’s gross win increased by 10.1% to A$215.7 million.
However, these figures contrast with Betr’s normalized EBITDA losses of A$7.1 million for FY26, a downturn from the previous year’s normalized EBITDA profit of A$7.2 million.
The company’s overall performance was significantly influenced by challenges faced in the first half of FY26, where it recorded EBITDA losses of A$13.2 million. This slump was partly attributed to favorable outcomes in races and sports during the Spring Racing Carnival, which contributed to a loss of approximately A$7 million.
Betr's CEO, Andrew Menz, commented, "FY26 was a year of deliberate investment followed by disciplined execution. In the second half we converted that investment into delivery with a A$19.3m EBITDA turnaround between H1 and H2."
Throughout this period, Betr invested heavily in rebranding initiatives, integrating with Sky Racing, and acquiring TopSport, while increasing its advertising budget by 45% to A$28.2 million.
In the latter half of the year, Betr’s estimated EBITDA was A$6.1 million, consistent with company projections that had forecasted normalized EBITDA between A$5 million and A$8 million. The company also achieved A$2.6 million in positive operating cash flow in the fourth quarter, marking its first positive quarter since 2021. At the end of June, Betr’s cash holdings reached A$27.8 million, which included A$11 million in client balances.
