Insights

Betmakers (ASX:BET) share price flat despite 63% increase in receipts

The Betmakers share price is trading flat today after the company announced the release of its quarterly report. We take a closer look.
The post Betmakers (ASX:BET) share price flat despite 63% increase in receipts appeared first on Motley Fool Australia. –

flat betmakers share price represented by sad looking horse

Shares in Betmakers Technology Group Ltd (ASX: BET) are trading flat after the company released its quarterly report this morning. The Betmakers share price reached a high of 45 cents in early trade but has since pulled back to 43 cents at the time of writing, the same price at which it closed Monday’s session.

What Betmakers does

Betmakers is a racing data supplier based in Australia. The company is involved in the development and provision of data and analytics products. It also specialises in the production and distribution of racing content.

The info tech company is focused on providing innovative industry and bookmaker solutions to improve industry coverage and the consumer experience. The group’s main revenue channels include Australia, the United Kingdom and the United States.

Quarterly report

Today, the Betmakers share price is trading flat despite a strong quarterly update from the company. Betmakers continued its growth through Q1 FY21 based on strong activity in the Australian market.

One of the highlights from the report was the strong increase in cash receipts, which came in at $3.9 million, 63% above the last quarter. Revenues also increased to $3.9 million, up from $2.7 million last quarter. Furthermore, the strong increase in cash receipts and revenue are expected to continue within the Australian domestic market. Betmakers also noted that it saw strong demand for its managed trading services, content distribution and acquisition tool products.

Betmakers finished the first quarter of the financial year with more than $32.8 million in cash. Impressively, the company also boasts no debt and management is exploring organic and inorganic growth opportunities in Australia and internationally, including in the US market.

What now for the Betmakers share price?

The Betmakers share price has been performing exceptionally this year and is up 207% year to date. This is a huge rise, particularly in comparison with the 6% drop seen in the All Ordinaries Index (ASX: XAO) this year. I believe a large part of the impressive rise in the Betmakers share price is down to its considerable growth in cash receipts, up by 132%.

Betmakers CEO, Todd Buckingham, was pleased with the results, stating:

The impressive growth we are seeing over the past two quarters is a result of the successful development, launch and implementation of our products and services in the Australian market over the past few years.

Furthermore, as mentioned above, Betmakers shareholders have plenty to look forward with a potential US market expansion in store.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Betmakers (ASX:BET) share price flat despite 63% increase in receipts appeared first on Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!