BETMAKERS TECHNOLOGY GROUP LTD — Capital/Financing Update 2021

Nov 3, 2021

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4 November 2021

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REGULATORY FRAMEWORK FOR FIXED ODDS BETTING ON HORSE RACING

The Board of BetMakers Technology Group Ltd (ASX:BET) (“BetMakers” or the “Company”) is pleased to announce that it has today (overnight in the United States) received notice outlining regulatory framework for Fixed Odds betting to commence on horse racing in New Jersey.

The Company will update the market shortly in regard to when it intends to begin, with its partners, the facilitation of Fixed Odds betting in New Jersey.

Chief Executive Officer of BetMakers, Mr Todd Buckingham said:

“We are extremely pleased to have been notified of the regulatory framework that supports the recently approved legislation for Fixed Odds betting on thoroughbred horse racing and we now look forward to working with our partners to deliver and manage Fixed Odds betting on thoroughbred racing within this market.”

“New Jersey will be the first state to approve Fixed Odds betting on horse racing and we believe this will create the framework that allows the sport of horse racing to capture a significant portion on the Sports Betting market that is taking off in the US”

“In line with BetMakers’ agreement with New Jersey Thoroughbred Horsemen Association and Darby Development LLC., the Company expects to start facilitating Fixed Odds betting on track at Monmouth Park before the end of this year, and that the roll-out of Fixed Odds to online wagering service providers will begin and continue throughout 2022.”

BetMakers announced to the market on 6 August 2021 that a Bill to “authorise fixed odds wagering on horse races through fixed odds wagering system ” was signed by the Governor of New Jersey to become law. As previously announced to the market, BetMakers has secured an exclusive 10-year agreement with New Jersey Thoroughbred Horsemen Association and Darby Development LLC., the operator of Monmouth Park racetrack, to deliver and manage Fixed Odds thoroughbred horse racing into New Jersey. Please see the Company’s announcements dated 5 February 2020, 3 July 2020, 21 May 2021 and 22 June 2021 for further information regarding this agreement.

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For further information please contact

Charly Duffy Jane Morgan Company Secretary Investor and Media Relations companysecretary@thebetmakers.com investors@thebetmakers.com + 61 (0) 409 083 780 + 61 (0) 405 555 618

Todd Buckingham, Managing Director of BetMakers, authorised the release of this announcement to ASX.

Disclaimer

This announcement contains “forward-looking statements.” These can be identified by words such as “may”, “should”, “anticipate”, “believe”, “intend”, “estimate”, and “expect”. Statements which are not based on historic or current facts may by forward-looking statements. Forward-looking statements are based on:

• assumptions regarding the Company’s financial position, business strategies, plans and objectives of management for future operations and development and the environment in which the Company will operate; and

• current views, expectations and beliefs as at the date they are expressed and which are subject to various risks and uncertainties.

Actual results, performance or achievements of the Company could be materially different from those expressed in, or implied by, these forward-looking statements. The forward-looking statements contained within the presentations are not guarantees or assurances of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, which may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by forward-looking statements. For example, the factors that are likely to affect the results of the Company include general economic conditions in Australia and globally; exchange rates; competition in the markets in which the Company does and will operate; weather and climate conditions; and the inherent regulatory risks in the businesses of the Company. The forward-looking statements contained in this announcement should not be taken as implying that the assumptions on which the projections have been prepared are correct or exhaustive. The Company disclaims any responsibility for the accuracy or completeness of any forward-looking statement. The Company disclaims any responsibility to update or revise any forward-looking statements to reflect any change in the Company’s financial condition, status or affairs or any change in the events, conditions or circumstances on which a statement is based, except as required by law. The projections or forecasts included in this presentation have not been audited, examined or otherwise reviewed by the independent auditors of the Company.

You must not place undue reliance on these forward-looking statements.