Betr Reports A$40.2m FY26 Loss Amid Strong H2 Recovery

Betr Entertainment, the Australian betting company, reported a A$40.2 million loss for the 2026 financial year, despite higher customer activity and a significant improvement in EBITDA during the second half.

For the financial year ending June 30, Betr recorded a 12.3% increase in turnover to A$1.59 billion. Net win rose by 7% to A$158.1 million, while gross win increased by 10.1% to reach A$215.7 million.

Despite the growth in these areas, the company posted a normalised EBITDA loss of A$7.1 million for FY26. This compared with a normalised EBITDA profit of A$7.2 million in the previous financial year.

The overall result was heavily influenced by challenges during the first half of FY26. Betr reported an EBITDA loss of A$13.2 million during the period, partly due to favourable race and sports results for customers during the Spring Racing Carnival, which contributed an estimated A$7 million loss.

Betr CEO Andrew Menz said:

“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.”

During the year, the company also invested heavily in its rebranding programme, Sky Racing integration and the acquisition of TopSport. Its advertising expenditure increased by 45% to A$28.2 million.

The second half delivered a stronger performance, with estimated EBITDA reaching A$6.1 million. This was within the company's forecast range of A$5 million to A$8 million in normalised EBITDA.

Betr also generated positive operating cash flow of A$2.6 million in the fourth quarter, marking its first positive quarter since 2021. At the end of June, the company held A$27.8 million in cash, including A$11 million in client balances.