BlueBet Holdings Ltd has posted impressive numbers in its Q2 FY24 report with the 13% YTD increase in the number of active customers a particular highlight for the Australian betting operator. The bookie said the 67,391 customers it had on 31 January 2024 was the highest figure since it started offering sports betting products and services and represented a 13% increase to the 59,632 active customers the sportsbook had in the same period last year.
BlueBet Outperforms the Market in Betting Turnover
BlueBet reported an increase in almost all categories compared to Q2 FY23. At $158.8 million, turnover was up 5.8%. The bookmaker’s gross win also increased from $18.5 million to $21.2 million, while the gross win margin was up by 1.1pp, from 12.6% to 13.7%.
The company’s net win was $16.2 million, an 18.2% improvement to the $13.7 million net win reported in Q2 FY23. The net win margin for Q2 FY24 is also up (by 1.1pp) from 9.4% to 10.5%.
Another impressive achievement for BlueBet is the 12-month rolling bet count of over $11.7 million, a 4.7% improvement on the previous corresponding period (PCP). The total Q2 FY24 betting turnover was $154.8 million, and the 5.8% increase meant BlueBet outperformed the market in this segment.
68% of Turnover Comes from Mobile Users
Horse racing accounted for 52% of the total Australian betting turnover for Q2 FY24, while 23% of the betting handle was on greyhound racing. BlueBet customers spent $27.2 million on sports betting (18% of the total betting turnover).
The Q2 FY24 report also shows that mobile turnover is now 68% of the total turnover, with a noticeable increase in the turnover generated by Android and iPhone bettors.
Concluding the report on its Australian marketing activity, BlueBet has highlighted the company’s effective brand investment and relaunch. The bookmaker also pointed to the record turnover figures it generated during the Spring Carnival period and increased investment in its social content strategy.
