Aussie online bookmaker doing well

Australian online bookmaker TopBetta Holdings latest performance numbers show that the company continues to prosper and grow, posting results that indicate turnover reached A$12 million and revenues A$1.2 million during the third quarter ended September 2016.

The ASX-listed company recently added fantasy sports to its offering, and the report indicates that the site held 1,650 tournaments and paid over A$1.5 million to winners.

TopBetta’s subsidiary, The Global Tote Limited, was recently granted a Category 2 (business to business) e-gambling licence by the Alderney Gambling Control Commission, allowing TopBetta to offer its products to international corporate bookmakers through The Global Tote Limited.

Chief executive officer Todd Buckingham reported to shareholders that the company has enjoyed another solid trading quarter in the company’s busiest quarter to date.

“The business is now ready to tackle the busy Spring Racing which is in full swing, heading into the Melbourne Carnival,” he said.

In August this year, the company raised $2.6 million from an oversubscribed capital raising to global and domestic institutional investors.