Betr revenue rises 8.6% to AU$143.8m as FY26 loss widens to AU$40.2m

Betr Entertainment has reported FY26 revenue of AU$143.8m ($103.3m), up 8.6% year-on-year, while the Australian wagering operator's statutory net loss widened to AU$40.2m from AU$6.8m in FY25. 

Statutory EBITDA fell to negative AU$24.3m, compared with negative AU$7.3m a year earlier. Normalised EBITDA, which excludes acquisition costs, rebranding and migration expenses, share-based payments and other adjustments, was negative AU$7.1m, reversing the AU$7.2m positive result recorded in FY25. 

Operating figures showed continued wagering growth. Turnover increased 12.3% to AU$1.59bn, gross win rose 10.1% to AU$215.7m and net win increased 7% to AU$158.1m. Net win margin declined from 10.4% to 9.9%. 

Performance improved during the second half, when normalised EBITDA reached AU$6.1m, within Betr's AU$5m to AU$8m guidance range. The operator said the H2 result represented a AU$19.3m EBITDA improvement from the first half. It has maintained FY27 normalised EBITDA guidance of AU$13m to AU$19m and expects positive operating cash flow for the full year.

Betr Entertainment CEO, Andrew Menz, said: "In the second half we converted that investment into delivery with a $19.3 million EBITDA turnaround between H1 and H2."

The results follow a period of consolidation for Betr Entertainment after the integration of the former betr wagering business with BlueBet and the acquisition of TopSport. The enlarged operator has focused on customer migration and integration across its Australian platform.

The operator has also been preparing for regulatory changes affecting the Australian wagering sector. Betr said its existing controls and data capability place it in a position to transition to the revised requirements.

Betr's FY27 guidance assumes historical net win margins above 10% and no material changes to regulation, taxation or cost of sales.

Global Gaming Insider previously reported on the US-based Betr's expansion of its daily fantasy and skill-gaming products ahead of the 2025 NFL season. The US operator is distinct from Australia's Betr Entertainment.