TopBetta revenues rise 95% as marketing initiatives pay off
Australian operator’s Q4 numbers “ahead of expectations” thanks to a turnover-driving 30% increase in active users
Australian bookmaker TopBetta has reported a 95% rise in total revenues to AU$6.9m for Q4 on the back of a growing customer base.
The operator attributed the significant revenue rise to a 30% increase in active unique client numbers from 10,904 to 14,223.
Client numbers grew as a result of marketing initiatives and promotions during key racing events over the period, including Victorian Racing’s Spring Carnival.
Turnover also rose by 52% to A$82.9m for Q4, a significant uplift on the forecast A$75m, with the increase driven by growth in the pooled-betting platform of subsidiary business The Global Tote.
TopBetta MD Todd Buckingham said: “I am pleased to update shareholders that the company is exactly where we thought it would be regarding total turnover, if not slightly exceeding our own expectations, which has resulted in healthy revenue growth.
“Our Active Unique Client number is the highest it has been and it positions us well for a strong 2018.
“During the December quarter, the company generated A$1.6m for Australian racing bodies through Race Fields fees and over A$2.5m which would be a very pleasing result for the racing industry.”
TopBetta is nominated for the Innovation of the Year award at February’s EGR Australia Awards for the aforementioned Global Tote, the world’s first B2B tote, which operates on a 10% takeout compared to a traditional tote average of 20%.
The pool helps several Australian bookmakers manage their risk on major races.