Online betting platform Betr has acquired Ascent Capital Management in an effort to become a CFTC-registered introducing broker (IB) and launch its prediction market product....
Australian betting operator Betr Entertainment has reported strong improvement in the second half of FY26, although the company still finished the year with a statutory loss of A$40.2 million.
The main positive was the change in normalized EBITDA from a A$13.2 million loss in H1 to a A$6.1 million profit in H2, an improvement of A$19.3 million. The result also reflected Betr’s A$5 million to A$8 million H2 guidance.
Betr’s full-year turnover rose by 12.3% to A$1.59 billion, while gross win increased by 10.1% to A$215.7 million. Net win reached A$158.1 million, up 7%, despite weaker betting margins during the first half.
Betr 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. The exit rate from FY26 and our fast start to FY27 give us real momentum as a stronger, leaner business, with a clear focus on profitable growth to drive long-term shareholder value. We are well-placed to transition to regulatory changes due to our strong existing controls and our advanced data capability.”
Betr spent heavily during FY26, including A$28.2 million on advertising and marketing as it relaunched its brand under the “The GOAT” positioning. The company also continued investing in new products and platform integration.
Looking ahead, Betr expects FY27 normalized EBITDA of A$13 million to A$19 million and aims to remain operating cash flow positive for the full year. Early FY27 turnover has already increased by more than 20%, according to the company.
