Betmakers Chart, page-608

So last years BET half results were:

BET – HALF YEAR RESULTS TO 31 DECEMBER 2021

Revenues from ordinary activities up 472.8% to $43,499
Loss from ordinary activities after tax attributable to the owners of BetMakers Technology Group Ltd up 527.2% to ($27,817)
Loss for the half-year attributable to the owners of BetMakers Technology Group Ltd up 527.2% to ($27,817)
Dividends - There were no dividends paid, recommended or declared during the current financial period.
Comments - The loss for the group after providing for income tax amounted to $27,817,000 (31 December 2020: $4,435,000).
Excluding depreciation and amortisation, income tax benefit and financing costs, the group's result was a loss of $22,912,000 (31 December 2020: $4,761,000).
This includes $25,224,000 (31 December 2020: $3,083,000) of share-based payments.
The groups EBITDA excluding share-based payments expense is a gain of $2,312,000 (31 December 2020: loss of $1,678,000).

HALF YEAR ENDED 31 DECEMBER 2022 - It's clearly very tricky to estimate this years half year numbers with so much going on.

Management have announced that this half year contained a heap of expenses / staff costs to get Global tote, BETR, and the new terminals up & running.

Plus continue pushing the fixed odds agenda in the US.

And so they expect earnings to be negative for this financial year - with a view to getting back to cash flow positive this current half.

My very rough estimate at the BET half year numbers would be:

Revenue: $50m
GPM (%): 70%
GPM ($): $35m
less
Expenses $50m (including interest & depreciation)

Nett Loss - $15m (plus any share based payments)

Would like the gross profit margin to be higher than 70% (as it was a bit over 72% last FY), but just have a gut feeling their margins have slipped slightly so far this year.

Please feel free to tear these estimated numbers apart

On another note, it is good to see Taylors stopping or pausing their significant selling of BET shares last week - and also good to see the shorts ever so slightly reducing down to 11.84%.

Interested to see what Matt Davey has in store going forward - as no doubt as a major shareholder he will be keen to gain back the trust of the market, and restore the share price to where we think it should be.

Sounds like the plan is to continue to increase revenues through Global tote & BETR & Caesers & New Jersey / Jamaica fixed odd betting & bringing more companies onto the platform - whilst having a large focus on increasing the margins & significantly reducing the overheads.

And then hopefully we can get New York & other US states signed up to fixed odd betting sooner rather later.

All sounds pretty simple really