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BlueBet set for US debut after marketing spend drives growth
August 31, 2022

BlueBet set for US debut after marketing spend drives growth

Bookiecity

BlueBet said investment in marketing and technology and a successful US entry strategy were key as it exceeded financial targets during the year to 30 June 2022.

The mobile-first online wagering services provider, which listed on Australia’s ASX in July 2021, posted turnover of AUS$511.9m during the financial year, which was up 48.5% on the previous 12 months.

It cited a strong performance in its Australian business, with active customers, turnover, net win and gross profit all increasing significantly as it grows market share. It also now has market access in four US states through its ‘capital lite’ US entry strategy, and has this week announced the debut of its ClutchBet B2C brand in the Iowa market.

It noted high return on marketing investment demonstrated by growing brand recognition and

annual customer value to cost to acquire a first time depositor ratio of 2.7x. It had 53,000 active customers by the end of the financial year, some 64.2% more than 12 months previously.

Blue..

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BlueBet slips to loss despite revenue growth in H1
March 1, 2022

BlueBet slips to loss despite revenue growth in H1

Bookiecity

Australian mobile betting operator BlueBet Holdings reported a net loss of AU$761,000 (£412,752/€493,510/US$553,968) for the first half of its 2022 financial year, despite experiencing a 72.4% year-on-year increase in gross revenue.

Gross revenue for the six months to 31 December 2021 reached $33.1m, up from $19.2m in the previous year, while wagering revenue – net win from players who placed losing bets, minus winnings and promotional costs – jumped 68.8% to $26.0m.

Turnover was up 20.8% to $264.5m, with growth across all product offerings. Thoroughbred turnover hiked 59.5% to $136.9m, greyhound turnover 61.9% to $72.7m, harness racing turnover 61.1% to $24.3m and other sports turnover 63.0% to $30.6m.

BlueBet noted that 66% of all turnover came from its mobile platforms, including iPhone and Android offerings, while the remaining 44% was attributed to website and call centre activity.

The operator was also helped by a 46.5% year-on-year increase in the number of active customers,..

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