BETMAKERS TECHNOLOGY GROUP LTD — Capital/Financing Update 2021

Jan 3, 2021

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

4 January 2021

BETMAKERS COMPLETES $50M PLACEMENT

Further to the ASX announcement dated 2 December 2020, the Board of BetMakers Technology Group Limited (“ BetMakers ” or “the Company ”) (ASX:BET) is pleased to announce that the Company has completed the issue and allotment of 83,333,334 fully paid ordinary shares (“ Placement Shares ”) to raise A$50 million (before costs) at A$0.60 per Placement Share from sophisticated and institutional investors (“ Placement ”).

The Placement Shares have been issued without a disclosure document in accordance with section 708 of the Corporations Act 2001 (Cth) ( Act ) and were issued under the Company’s placement capacity under ASX Listing Rule 7.1A and 7.1.

The shares issued under the Placement were issued as follows:

• 23,283,150 shares were issued under the Company’s 15% placement capacity under ASX Listing Rule 7.1; and

• 60,050,184 shares were issued under the Company’s additional 10% placement capacity under ASX Listing Rule 7.1A.

Funds received from the Placement, in conjunction with existing cash, will be used to fund the Company’s acquisitions of the Racing and Digital assets of leading international online sports betting company Sportech PLC (refer to the Company’s ASX announcement dated 2 December 2020 for further details).

Separately, the Company is currently in negotiations of commercial terms with several operators. While the Company is currently unable to determine the materiality of such negotiations, the Company will notify the market of such transactions in due course in accordance with its continuous disclosure obligations.

Cleansing Statement

In respect of the issue of the Placement Shares, the Company hereby notifies ASX under section 708A(5)(e) of the Act that:

• (a) today, 4 January 2021 the Company completed the issue and allotment of 83,333,334 Placement Shares;

• (b) the Company issued the Placement Shares without disclosure under Part 6D.2 of the Act;

• (c) the Company provides this notice under section 708A(5)(e) of the Act;

• (d) as at the date of this notice:

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• (i) the Company has complied with the provisions of Chapter 2M and section 674 of the Act as they apply to the Company; and

• (ii) other than as set out in this announcement, there is no information that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules and that investors and their professional advisors would reasonably require for the purpose of making an informed assessment of:

  • (A) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

  • (B) the rights and liabilities attaching to the Placement Shares.

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.

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

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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.