Betr Entertainment reported €233.6 million in turnover for the third quarter of fiscal 2026, up 2% year-on-year, with net win reaching €23.3 million. The Australian wagering operator said its net win margin returned above 10%, the level it targets over the long term, supported by lower operating costs, improved customer acquisition quality, and steadier wagering outcomes.
Quarterly Financial Performance
Active customers stood at 157,000 at the end of the quarter. Betr held a cash balance of €17.5 million as of 31 March 2026, including €7.7 million in client balances held on behalf of customers.
Net cash outflow from operating activities reached €5.4 million during the quarter. Management attributed that figure to several non-recurring items: residual marketing costs from the December quarter, €1.2 million linked to discontinued US operations, and €0.5 million in restructuring and cost-reduction measures.
Customer Activity and Product Performance
Brand and customer experience investment from the first half carried through into Q3, driving higher acquisition and retention. Chief executive Andrew Menz said new customers rose 25% to 35% against the prior corresponding period.
New customers rose by 25% to 35% against the prior corresponding period.
Product performance contributed to the result. Same Game Multi turnover increased 33% year-on-year. Betr also pointed to stronger engagement through its Live Tracker and Sky Racing integration, including a feature allowing users to launch live racing vision from an iPhone lock screen after receiving a race-start alert.
Cost Reductions and Operating Model
A more targeted approach to promotions reduced promotion costs and improved return on marketing investment. Management said improved customer data and analytics allowed the operator to direct offers toward higher-returning customer segments.
Betr expects ongoing run-rate savings from streamlining its operating model. Menz said those savings reflect labour efficiencies and broader cost-base discipline following three business combinations over the past three years. The company’s focus on organic growth is consistent with wider trends in regulated markets, where operators are increasingly prioritising unit economics over top-line expansion — a pattern evident across Soft2bet’s 85% revenue growth report and Evolution’s FY2025 results, where margin pressure drove strategic reassessment.
Guidance for H2 FY2026 and FY2027
Betr reaffirmed normalised EBITDA guidance of €3.1 million to €4.9 million for H2 FY2026 and €7.9 million to €11.6 million for FY2027. The FY2027 forecast assumes mid to high single-digit turnover growth and does not rely on further mergers and acquisitions.
For Q4, management said the company expects to be operating cash flow neutral to positive if net win margins hold above 10%. Betr’s on-market buyback of up to 10% of issued share capital remains in place through the quarter.
Source: Betr Entertainment
