BETMAKERS TECHNOLOGY GROUP LTD — Capital/Financing Update 2021

Jan 19, 2021

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BETMAKERS TECHNOLOGY GROUP LTD ACN: 164 521 395 Phone: 1300 208 849 Fax: (02) 8330 6357 22 Lambton Road Broadmeadow NSW 2292

Not for release to US wire services or distribution in the United States

20 January 2021

BETMAKERS COMPLETES OVERSUBSCRIBED SHARE PURCHASE PLAN

• Funds received under the SPP of approximately $26.29M - well exceeding the A$10M on offer

• Funds raised will be applied toward BetMakers’ acquisition of Sportech’s Tote and Digital Businesses as well as accelerate international expansion

• Eligible Shareholders will be issued their shares on the 27 January 2021

BetMakers Technology Group Limited (“ BetMakers ” or “the Company ”) (ASX:BET) announces the completion of its Share Purchase Plan (“ SPP ”) which closed at 5:00pm (AEDT) on 15 January 2021. In accordance with the SPP Offer Booklet, the SPP provided Eligible Shareholders with the opportunity to subscribe for up to A$30,000 of new fully paid ordinary shares (“ SPP Shares ”) in the Company at the Issue Price of A$0.60 per SPP Share, subject to scale back. Under the SPP, the Company will raise A$10 million.

The SPP was oversubscribed with the Company receiving applications from Eligible Shareholders totalling approximately A$26.29 million at the Issue Price of A$0.60 per share being the same issue price as the Institutional Placement announced to ASX on 2 December 2020.

BetMakers CEO and Managing Director, Todd Buckingham, said: “It is extremely pleasing to see the overwhelming support from shareholders for our SPP and we thank them for their confidence in the Company.”

“Through organic growth and acquisitions, we have rapidly added significant shareholder value which now positions BetMakers as a truly global supplier to the international wagering industry. The Board and management are committed to continue adding value for shareholders and we’re looking forward to updating the market with our progress throughout 2021.”

As foreshadowed in the SPP Offer Booklet, the intention of the SPP was to reward BET’s loyal Eligible Shareholders by giving them the opportunity to increase their shareholdings at the same issue price offered under the Placement.

Scale Back

In applying the scale back, the Board took into consideration several matters, including:

• ensuring that long-term retail supporters of the Company have a chance to increase their shareholdings;

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• rewarding the loyalty and support of retail investors who continue to hold a meaningful number of shares;

• the high-level of demand from investors for SPP Shares; and

• the relative number of shares the applicant held on the Record Date and the Closing Date.

In particular, Eligible Shareholders who held 50,000 shares or less on the Record Date will be allocated SPP Shares equal to the lower of (i) 62% of the number of Shares they held on the Record Date; and (ii) 62% of the amount of SPP Shares they validly applied for. Eligible Shareholders who held more than 50,000 shares on the Record Date will be allocated 62% of the amount of SPP Shares they applied for. Regardless of the number of shares held on the Record Date, Eligible Shareholders who sold Shares after the Record Date and held 1 or less shares on the Closing Date were allocated one SPP Share.

The Company will issue approximately 16.66 million SPP Shares on 27 January 2021, with quotation on 27 January 2021. The SPP Shares will rank equally with existing Shares in the Company from their Issue Date.

Excess funds as a result of the scale back will be refunded to applicants without interest in accordance with the terms and conditions set out in the SPP Offer Booklet. To enable shareholders to receive their refund as quickly as possible by EFT, shareholders are strongly encouraged to update their bank details on the Computershare Investor Centre at https://www-au.computershare.com/Investor/#Home before 29 January 2021. For refunds not processed by EFT, cheques will be mailed in the post to the relevant shareholders’ registered address as shown in the share register. For any queries, shareholders should contact Computershare on +61 3 9415 4000 or 1300 855 080.

Unless otherwise defined, capitalised words in this announcement have the same meaning given to them in the SPP Offer Booklet.

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

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

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.

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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.

Not an offer in the United States

This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration of the US Securities Act and applicable US state securities laws.