Australian online sports betting and fantasy sports company TopBetta, which is run by rugby league player-manager Todd Buckingham, will be listed on the ASX stock exchange in September in the hopes of raising between $5 million and $7 million from investors.
TopBetta's online platform offers private and public fantasy bets in addition to traditional betting.
The fully licensed operation has contracts with the NRL, AFL, Cricket Australia and Football Federation Australia.
"We're close to profitability now if we don't do any marketing but you can't grow if you don't do any marketing," Buckingham said in the AFR interview.
The company has its sights set on entering the American fantasy sports market. Buckingham took a trip to the US last year to scope out opportunities in the fantasy sports market and discovered several companies interested in a partnership.
"We just weren't ready 12 months ago. We wanted to get some runs on the board here in Australia before we head overseas but it's definitely on our radar," he said.
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Comments (1)
sharpe
07/13/15, 11:07:06 PM
Fantasy sports betting is on the rise in the last couple of years and I guess the decision of the Todd Buckingham, TopBetta to be listed on the stock exchange is...
Fantasy sports betting is on the rise in the last couple of years and I guess the decision of the Todd Buckingham, TopBetta to be listed on the stock exchange is a good one. I guess their shares will be popular amongst the traders particularly in Australia and in the same time will be profitable for the company.
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