Betty reports 336% year-on-year surge in net revenue for 2025

Online casino startup Betty has announced that “laser sharp execution of strategic projects” led to net revenue hitting $205.8m (£154m) for full-year 2025, up 336% from the $51.8m generated the prior year.

The privately owned operator, which is licensed in Ontario, Canada, achieved revenue of $27.3m in December, which, management pointed out, indicates an annualised run rate of $328m.

Meanwhile, female-focused Betty closed out the year with 134,000 active players – an increase of around 100,000 on the end of 2024. Net revenue per active player was around $211, bosses revealed in a series of LinkedIn posts.

The VC-backed firm pointed to the impact of newly launched native mobile apps in 2025, as well as a revamp to the loyalty programme and “strong brand marketing activities” for the top-line growth.

On the native iOS and Android apps, which were launched in March and August, respectively, Betty said this was “the biggest shift for the business” as players migrated from the mobile web and desktop.

In December, 42% of the casino’s traffic was from iOS devices, with the remainder made up of 27% Android, 25% mobile web and 6% desktop.

The long-term aim, according to the firm, is to reach 90% across the native apps.

“Overall, the introduction of the new platforms was the highlight of the year,” Betty said, “unlocking massive user acquisition potential alongside higher stickiness and engagement rates for customers using the iOS and Android apps.”

In Q3, a new loyalty system with a “bidirectional ladder” was rolled out, with 85% of customers giving it the thumbs up and management pointing to it being one of the key drivers of improved retention in H2.  

Co-founder and CEO Justin Park, wrote on LinkedIn: “The 2026 plan is very clear, focused and believable, which tells me there is more growth to come. It’s also exciting.“What keeps me up at night is Betty Canada’s ability to recycle capital as the capital base and Ontario market share both increase.“The team is returning ad spend within eight or nine months on a gross profit basis, which suggests there is still slack in the system for growth.”

As well as plans to enter Alberta when the regulated commercial market goes live in 2026, Betty is plotting expansion across the Atlantic to the UK.

Park said “an elite technical team” dedicated solely to the UK market has been assembled and that a licence application has been submitted with the Gambling Commission.

The expansion comes amid shockwaves reverberating through the UK online gambling industry over the government’s decision to hike remote gaming duty from 21% to 40% from 1 April 2026.

“While it’s a massive shift, it actually creates a unique opening for the next generation of operators,” Park wrote on LinkedIn when addressing the tax increase.

He pointed to challenger operator Midnite as an example of a “nimble team” able to take “material market share” in a changing regulator landscape like the UK.

“Instead of spending years refactoring legacy code just to stay compliant, they’ve managed to focus on delighting players through product innovation.“This tax hike will only accelerate this trend. While incumbents are now forced to play defence across both their tech stacks and cost structures, Betty UK is starting with a clean slate.”He concluded: “If Betty UK can crack the code, they really have a shot at taking over the market as everyone else retreats.”