TopBetta raises AUS $9 million for ‘Global Tote’ US & Euro expansion

Updating the market, Australian ASX-listed racing pools operator TopBetta Holdings has confirmed that it has raised AUS $9 million (€6 million) to expand its international services.  

The funding round has seen TopBetta governance place an allotment of +21.4 million shares priced at 42 cents, with firm securing investment from ASX institutional investors.

Moving forward, TopBetta governance seeks to expand its B2B ‘Global Tote’ product for tier 1 US and European betting operators.

Launched in 2016, TopBetta’s Global Tote system enables betting partners to form larger ‘combined pools’ for horseracing events/competitions around the world.

In 2017, TopBetta announced Ladbrokes UK as its first Global Tote partner, furthermore the company would announce a ‘further milestone’ for its pools product having been granted licenses to operate for the US market.

Updating investors Todd Buckingham CEO of TopBetta commented on the funding round: “The Company is extremely pleased with the successful placement. It puts us in a great position to capitalise on the recently announced UK and US licences and to push forward on the retail side of TopBetta Pty Ltd’s business as well.”

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