Australian betting group TopBetta has reported a more than 400 percent year-on-year rise in revenues to almost A$7 million in Q4-2017, attributed largely to increased retail business.
On a sequential quarter basis revenues in Q4 surged higher by 95 percent on Q3-2014, with active players up by 30 percent y-o-y to over 14,230.
One of the star performers in the quarter was The Global Tote, which enjoyed buoyant Australian retail betting following last month’s pools distribution agreement with the UK Totepool, accessing more than 10,000 UK and European betting shops and other major international betting websites, such as Betfred, Betfair, Skybet and Paddy Power, and making bets by British punters on Australian races possible.
The company also cemented agreements with WatchandWager.com in the US that permit Americans to lay bets on Australian horse and track racing events.
Todd Buckingham, the chief executive at TopBetta, said the Q4 results had exceeded management expectations, and generated valuable revenue for the Australian racing industry.