BetMakers has reported a strong financial performance for FY26, with revenue climbing 8.8% year-on-year to AU$92.6m as the company navigates a period of significant change.
The Australia-based, horse racing-focused business saw adjusted EBITDA soar by more than 200% year-on-year, rising from $4.6m to $14.1m over the past 12 months.
That figure represents a $46m improvement over the last three years, underlining what the company describes as a sustained and disciplined operational turnaround.
BetMakers attributed the impressive EBITDA growth to tight cost management and technology-led expansion across its global horse racing betting platform business.
The firm also cut its net loss after tax significantly, reducing it from $25.3m to $5.2m, a result that signals meaningful progress toward long-term profitability.
Adjusted gross margin improved to 66.9% from 64.1% in FY25, putting BetMakers on course to hit its long-term target of 70% gross margin.
Chairman Matt Davey pointed to the operating turnaround as the defining story of the year, acknowledging the broader challenges facing the racing industry globally.
“This is most dramatically shown through the positive EBITDA, up over 200% to $14.1m over the last 12 months,” Davey said. “In addition to that, revenue has grown at double digits on a constant currency basis. We are proud of that. The racing industry is a difficult industry, and in some parts it is experiencing contraction.”
The results come amid Tabcorp’s widely reported $267m proposed takeover of BetMakers, which is not expected to be completed until toward the end of the next financial year.
BetMakers incurred deal costs related to a scheme of arrangement with Tabcorp during FY26, though costs associated with its Sportech acquisition have now been fully amortised.
Chief Executive Officer Jake Henson outlined the company’s strategic ambition clearly, with a focus on becoming the dominant global horse racing betting infrastructure provider.
“Our goal is simple, to be the central scale platform that connects horse racing betting globally,” Henson said. “We cut out unnecessary intermediaries so operators run a cheaper more scalable model.”
Henson also highlighted the company’s new platforms, GTX and Apollo, describing them as modern, lightweight, and built for scale to support long-term operator growth.
He added that margin realisation through global trading, risk management, pool connectivity, and optimised generosity all in one place ensures operators keep more of their revenue.
Online casino and sports betting operator Stake recently entered into an agreement with BetMakers to incorporate its full fixed-odds pricing, tote, and trading capabilities.
Looking ahead, BetMakers confirmed it has built a solid foundation heading into FY27, with plans to grow digital revenues further and continue improving its overall EBITDA margin.
