Dabble launches in UK, as revenue doubles with first profit in sight
The social media gambling company claims to be only the second betting brand in the world to be operating in the UK, US and Australian markets.
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Fast-growing social media betting firm Dabble has launched in the UK and is on track to be profitable this year after doubling revenue in just 12 months, new documents show.
Dabble, part-owned by Tabcorp and investors including billionaire Tim Heath, told its shareholders
In a letter sent to Dabble investors late last week, obtained by The Australian, the business said it is forecast to more than double its revenue for the year to June 30 and post a profit for the first time.
“[Dabble’s] performance continues to be very strong in both Australia and the US. We are expecting to report about $260m in combined revenue for the financial year, representing a 120%+ increase from FY24,” Dabble said in the letter.
“It will also be the first year that we report a profit … albeit working to a break-even strategy where we reinvest our earnings into growth.”
Dabble expanded into the US last year, where it has established a fantasy sports business, and is claiming its entry into the UK last week makes it only the second betting brand in the world behind global giant Bet365 to service those two markets and Australia.
The revelations come after The Australian reported last October that Dabble is exploring a stockmarket listing, potentially on the NASDAQ in the US, as it targets a quadrupling of its revenue by 2027.
It had previously forecast 2025 revenue to be “more than $200m” and then to grow by at least another 50 per cent in each of 2026 and 2027 to hit $500m.
Dabble is currently just about the only Australian bookmaker showing growth in what is a tough market hit by a drop in consumption spending and rising taxes on the wagering industry, but it has previously said it would achieve a 5 per cent market share in its home country by 2027.
Dabble’s most recent note to shareholders revealed its number of users and its ambitions for further growth and entering of new countries in near and medium-term future.
“We now have more than 2.5m registered users on the platform and an average of 232,000 monthly actives (active users) in 2025 so far. We are looking forward to welcoming more UK customers into the mix and learning about their behaviours so that we can continue to tailor our global experience,” the company said.
“Once we are comfortable in the UK, we will be considering jurisdictions like Ireland, Canada, Brazil, and many of the European markets.”
In comparison, long established ASX-listed Tabcorp has about 801,000 active users. Dabble was only founded in late 2020 by Albury-based brothers Jonathan and David Robin, and is run by chief executive Tom Rundle.
Tabcorp bought into Dabble at a $165m valuation for a 20 per cent stake in 2022. Dabble’s revenue has since more than quadrupled.
Dabble combines wagering offerings with social functions seen on Twitter and WhatsApp, and gives customers the ability to copy bets placed by friends or others they follow. It is particularly popular among younger punters, with the majority of its customers aged between 18 and 35.
The company said it would not be spending huge sums of money promoting its brand in the UK to begin with, relying on digital incentives mostly, though shareholder and former England cricket captain Michael Vaughan has used his social media accounts to announce Dabble is now operating there.
“[The UK] market … is generally more supportive of competition, allowing challenger brands like Dabble to attract the trial of new users through sign-up offers and referral bonuses,” the shareholder letter said.
“Our total investment to [go] live in the UK has been less than $1m, maintaining Dabble’s capital efficient approach to international expansion. We will also be scaling up marketing spend relatively slowly, ensuring that the unit economics stack up before we push too hard.”
Dabble did not comment when approached by The Australian.
Originally published as Dabble launches in UK, as revenue doubles with first profit in sight
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