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Betmakers Technology Group
(Sydney:BET)
Select Model
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Rating:61Neutral
Price Target:
AU$0.22
â–²(0.91% Upside)
Action:Reiterated
Date:09/07/26
The score is primarily driven by improving financial performance (operating and cash-flow rebound plus low leverage), partially offset by continued net losses and an unfavorable negative P/E. Technical indicators are moderately supportive, but not strong enough to outweigh valuation and profitability concerns.
Positive Factors
Operating Profitability Inflection
The sharp move to positive operating earnings indicates meaningful improvement in the underlying business, supported by strong gross profitability. If sustained, this inflection could strengthen internal funding capacity and demonstrate that the operating model can generate attractive contribution margins.
Negative Factors
Persistent Net Losses
Despite the operating earnings rebound, Betmakers has not yet converted that improvement into bottom-line profitability. Continued net losses weaken returns on the capital base and reduce confidence that the recent operating improvement will translate into durable shareholder earnings over the next several periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Operating Profitability Inflection
The sharp move to positive operating earnings indicates meaningful improvement in the underlying business, supported by strong gross profitability. If sustained, this inflection could strengthen internal funding capacity and demonstrate that the operating model can generate attractive contribution margins.
Read all positive factors
Betmakers Technology Group (BET) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$229.66M
Dividend YieldN/A
Average Volume (3M)10.16M
Price to Earnings (P/E)―
Beta (1Y)0.15
Revenue Growth8.79%
EPS Growth83.03%
CountryAU
Employees468
SectorConsumer Cyclical
Sector Strength84
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.01
Shares Outstanding1,120,282,200
10 Day Avg. Volume4,816,327
30 Day Avg. Volume10,160,264
Financial Highlights & Ratios
PEG Ratio0.39
Price to Book (P/B)1.83
Price to Sales (P/S)1.83
P/FCF Ratio16.15
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.24Price Target Upside9.09% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)<0.01
Revenue Forecast (FY)AU$103.57M
Betmakers Technology Group Business Overview & Revenue Model
Company Description
Betmakers Technology Group Ltd, together with its subsidiaries, engages in the development and provision of software, data, and analytics products for the B2B wagering market in Australia, New Zealand, the United States, the United Kingdom, Europe...
How the Company Makes Money
Betmakers primarily makes money by supplying wagering-technology products and services to other gambling and wagering businesses under commercial contracts. Its revenue model typically includes: (1) Technology and platform fees: recurring fees for...
Betmakers Technology Group Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
76
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 89.82M | 92.60M | 85.12M | 95.20M | 95.03M | 91.68M |
| Gross Profit | 34.02M | 45.20M | 54.55M | 57.40M | -25.37M | 9.84M |
| EBITDA | 4.55M | 60.70M | 1.33M | -5.21M | -40.96M | -86.06M |
| Net Income | -12.72M | -5.20M | -26.42M | -38.67M | -38.78M | -89.23M |
Balance Sheet | ||||||
| Total Assets | 133.17M | 145.70M | 134.16M | 150.65M | 199.54M | 223.06M |
| Cash, Cash Equivalents and Short-Term Investments | 30.16M | 37.87M | 30.31M | 29.33M | 41.04M | 87.55M |
| Total Debt | 4.52M | 4.21M | 1.47M | 3.15M | 15.07M | 5.22M |
| Total Liabilities | 39.22M | 52.95M | 38.93M | 39.10M | 48.95M | 33.77M |
| Stockholders Equity | 93.96M | 92.75M | 95.23M | 111.55M | 150.60M | 189.29M |
Cash Flow | ||||||
| Free Cash Flow | 11.19M | 10.50M | -6.62M | -5.03M | -32.49M | -34.38M |
| Operating Cash Flow | 13.92M | 18.91M | 3.54M | 3.21M | -24.26M | -18.22M |
| Investing Cash Flow | -9.64M | -9.57M | -10.16M | -11.47M | -11.03M | -22.77M |
| Financing Cash Flow | 7.23M | -293.00K | 8.05M | -2.69M | -11.73M | 7.94M |
Betmakers Technology Group Technical Analysis
Neutral
0.22
Price Trends
0.19
Positive
0.18
Positive
0.18
Positive
Market Momentum
<0.01
Positive
51.10
Neutral
27.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BET, the sentiment is Neutral. The current price of 0.22 is above the 20-day moving average (MA) of 0.21, above the 50-day MA of 0.19, and above the 200-day MA of 0.18, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 51.10 is Neutral, neither overbought nor oversold. The STOCH value of 27.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:BET.
Betmakers Technology Group Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | AU$35.65B | 25.06 | 23.15% | 1.65% | -1.22% | 10.79% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | AU$229.66M | -44.57 | -5.57% | ― | 8.79% | 83.03% | |
57 Neutral | AU$2.10B | 45.30 | 3.66% | 3.28% | 0.13% | 26.25% | |
50 Neutral | AU$370.47M | -19.23 | -5.86% | 15.59% | -13.43% | -208.54% | |
46 Neutral | AU$188.90M | -4.71 | -29.69% | ― | 8.87% | -260.38% | |
34 Underperform | AU$312.83M | -9.00 | 231.91% | 272.55% | 5.56% | 8.45% |
* Consumer Cyclical Sector Average
AU:BET
Betmakers Technology Group
0.21
0.02
13.51%
AU:AGI
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1.06
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Aristocrat Leisure
60.44
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0.88
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0.91
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AU:BBT
BlueBet Holdings Ltd.
0.18
-0.10
-35.71%
Betmakers Technology Group Corporate Events
BetMakers lifts FY26 margins on digital growth and cost discipline
Aug 30, 2026
BetMakers Technology Group reported full-year FY26 revenue of $92.6 million, up 8.8% year on year, driven by strong digital growth and tighter cost control. Adjusted EBITDA jumped to $14.1 million, lifting the margin to 15.2%, while operating expe...
BetMakers Publishes FY26 Racing Technology Results Overview
Aug 30, 2026
BetMakers Technology Group has released its FY26 results presentation, outlining general information on its operations and financial metrics in Australian dollars. The document, issued to the ASX, is unaudited for quarterly figures and is intended...
BetMakers Narrows Annual Loss as Revenue Rises 9%
Aug 30, 2026
BetMakers Technology Group reported a 9% increase in revenues from ordinary activities to $92.6 million for the year ended 30 June 2026, reflecting continued growth in its wagering technology operations. Despite the ongoing absence of dividends, t...
Harvest Lane Lifts Stake in Betmakers to 6.45%
Aug 28, 2026
Harvest Lane Asset Management has increased its substantial shareholding in Betmakers Technology Group to 6.45% of the company’s ordinary shares, up from 5.31%, according to a change of interests notice filed with the ASX. The move, achieved...
BetMakers Sets Dates for FY26 Results Release and Investor Webinar
Aug 26, 2026
BetMakers Technology Group Ltd, an Australian wagering technology provider that supplies data and platform solutions to bookmakers and racing organisations, operates as an infrastructure player in the betting ecosystem. The company focuses on supp...
Paradice Investment Management Exits Substantial Holder Position in Betmakers
Aug 12, 2026
Paradice Investment Management Pty Ltd has lodged a notice under Australia’s Corporations Act stating it has ceased to be a substantial holder in Betmakers Technology Group as of 10 August 2026. The change in its relevant interest in Betmake...
Tabcorp Moves to Acquire BetMakers in Technology-Focused Wagering Push
Aug 9, 2026
Tabcorp Holdings has entered into a binding Scheme Implementation Deed to acquire 100% of BetMakers Technology Group via a scheme of arrangement. The deal underscores Tabcorp’s strategic push into wagering technology, aiming to expand its ca...
BetMakers backs $283m Tabcorp takeover with hefty premium
Aug 9, 2026
BetMakers Technology Group has agreed to be acquired by Tabcorp Holdings through a scheme of arrangement under which Tabcorp will purchase all BetMakers shares. Shareholders will receive $0.24 per share in cash by default, with an option to take p...
Betmakers Corrects Appendix 3H on Lapsed Rights
Aug 6, 2026
Betmakers Technology Group has corrected a prior Appendix 3H filing regarding the cessation of securities, clarifying that 984,300 rights have lapsed rather than the 948,300 previously stated. The update, lodged with the ASX, refines the company&#...
BetMakers Issues Cautious Q4 FY26 Update with Extensive Disclaimers
Jul 29, 2026
BetMakers Technology Group has released its unaudited Q4 FY26 update, providing general information on its activities and financial metrics in Australian dollars as at the date of release. The company emphasises that the material is a high-level o...
BetMakers lifts margins and cash flow as new wagering partnerships deepen global reach
Jul 29, 2026
BetMakers reported Q4 FY26 revenue of $24.2 million, up 9.4% on the prior corresponding period, and delivered adjusted EBITDA of $4.5 million, an 18.5% margin, alongside a strong gross margin of 68.5% and positive quarterly cash flow. Management h...
Betmakers Cancels 800,000 Unvested Performance Rights
Jul 9, 2026
Betmakers Technology Group has notified the market that 800,000 performance rights, trading under ASX code BETAR, have lapsed. The lapse occurred because the conditions attached to these conditional rights were not met or became incapable of being...
BetMakers Extends CEO Notice Period to Support Leadership Stability
Jun 19, 2026
BetMakers Technology Group has amended the employment agreement of its chief executive officer, Jake Henson, increasing his notice period to 12 months on a reciprocal basis for termination without cause. The board said the change, made without any...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.