ASX filing shows Betr doing alright despite PointsBet bidding battle loss

Betr Entertainment is carving out a bigger share of Australia’s online gambling marketplace having enlarged its flagship brand of Betr via the acquisition of smaller challenger brands.

This is according to its latest filing with the ASX, revealing a 24.5% increase in turnover (revenue) to AU$444.4m (€263.3m), up from €357m the year prior. Year-to-date revenue was up 25.2% to $907.4m ($645.1m).

These figures cover Q2 of the 2026 financial year, corresponding to October-December 2025. This period began shortly after Betr was defeated in its dramatic, long-running bidding war against MIXI Australia for control of PointsBet.

Mirroring Betr, PointsBet is positioned as a mid-level Australian bookmaker – not competing at the heights of Tabcorp, Entain and Flutter, but with a reasonable enough market share. It also has some international reach with a notable presence in Ontario, Canada.

Betr and MIXI Australia, the Australian division of Japanese digital technology firm MIXI, had been trading bids for control of Betr since March 2025. PointsBet’s board routinely favoured MIXI, however, believing that the firm did not share appropriate synergies with Betr despite the challenger brand’s at times larger offer than its rival.

The battle finally came to an end in September when MIXI acquired 214 million PointsBet Holdings shares, equating to 61.59% of the voting power in the online sportsbook. Betr was already a shareholder in PointsBet and retained 20% of this, but lost all hopes of gaining majority control.

Betr dusts itself off

While it may have emerged from the battle feeling a little bruised, Betr’s growth trajectory seems to be continuing at a reasonable pace, PointsBet controlling share or not. Its statement also implies that it is not giving up on M&A opportunities.

“Consistent with our longstanding stated ambition, betr is pursuing scale in the
Australian market – both organically and via disciplined, value-accretive M&A,” the statement read.

“We remain in active discussions with a number of existing and new industry participants regarding consolidation and partnership opportunities and will ensure appropriate disclosure should these discussions progress, in accordance with our continuous disclosure obligations.”

Betr was founded in 2022 by Australian gambling figureheads Matt Tripp and Michael Sullivan, alongside investment from Ruper Murdoch’s media giant News Corp – though the company would later sell its share in October 2023.

In April 2024 it merged with fellow Australian challenger brand BlueBet to form a much bigger enterprise, expanding BlueBet’s customer numbers while giving Betr access to new technology.

Listed as BlueBet Holdings, BlueBet / Betr acquired Northern Territory bookmaker TopSport in February 2025. In April 2025, BlueBet Holdings completely changed its name to Betr Entertainment, trading on the ASX as BBT.

The firm continues to pursue growth and challenge the biggest bookmakers in Australian betting – Tabcorp, Entain’s Neds and Ladbrokes, Flutter’s Sportsbet, and others like Betfair and bet365.

This comes at a potential crossroads for the industry, however, with pressure piling on PM Antony Albanese to initiate some kind of regulatory overhaul at the federal level.