TopBetta Gets 400% Revenue Boost
TopBetta Holdings, one of Australia’s leading online wagering companies, had a four-fold increase in their revenue in 2017’s last quarter (Q4). TopBetta reported to the media that in the final quarter last year, they had a total of close to AUD$6.9 million. This is revenue made from October to December, which is a 401% increase compared to what they made in the same period of 2016.
More so, their revenue was also higher by 95% than the AU$3.55 million that they ranked for in the previous quarter. Todd Buckingham, the managing director for TopBetta, described their fourth quarter as ‘healthy revenue growth’ which to some extent, exceeded what the company was expecting.
How TopBetta Managed Make 400% in Revenues
The Australian bookmarker accredited this amazing increase in revenue to the expansion of Global Tote, a subsidiary that is based in Alderney. Also, they attributed their increase in revenue to how positive their business was in the fourth quarter of 2017.
TopBetta reported to the media that in the previous month, Its Global Tote division made a deal with Official UK Totepool. The agreement was that the Official UK Totepool was to distribute pools to over ten thousand betting shops in the UK and across Europe. This also included other online betting sites such as SkyBet, Betfair, and Paddy Power, to mention a few.
This agreement, however, paved the way for the British online bookmarkers to provide players with Australian racing games for the very first time. This meant that Tote was to receive 2% commission of the total net after distribution had been made and after all taxes and levies were paid.
To add on, TopBetta also offered its services in the United States of America in December 2017. This permitted US gamblers to play on Australian harness and thoroughbred sites after Tote sealed an agreement of distribution with WatchandWager.com from the US. Data reflects that the number of active players at TopBetta increased by 30% in this period.
The company reported that in December alone, they generated AUD$1.59 million which is quite good for an Australian online wagering company.