Good afternoon, everyone. I'm Jane Morgan, the Investor and Media Relations Manager for BetMakers Technology Group Ltd. Today, the company released the Q4 FY 2022 quarterly activities and Appendix 4C reports. On the call today, I am joined by our CEO, Todd Buckingham, our CFO, Anthony Pullin, and our COO, Jake Henson. With that, I'll hand you over to Todd Buckingham to run you through the presentation. Thanks, Jane, and thanks for everybody for joining in today. It's a pleasure to give you this update. We're going to give you an investor update today with our quarterly activity. Given it's the fourth quarter, we wanted to highlight some of the full year numbers and achievements of the business. We'd also like to give you some color on where the business is heading with our strategic focus heading into FY 2023. Look, Q4 has been a significant one for BetMakers with a culmination of executing a number of key deals and strategies towards the back end of FY 2022 to really set the business up for an exciting 2023 moving forward. Some highlights for Q4. As you see there, AUD 26 million in cash receipts for Q4. Obviously a good achievement for us to crack the annualized $100 million in cash receipts and obviously that's transfers across to revenues as well. We'll talk a bit more on that but 194% increase from the Q4 corresponding period last year. More importantly, it's a 20% uplift quarter-over-quarter. Again, cash flow positive from our operating activity. It's exciting for us to get that. Anthony will cover in more detail over the next couple of slides. Some key deals that we did selected for the to power the wagering tech and trading in a new venture with NTD Pty Limited. For those of you who have been following us over the years, we've finally launched Fixed Odds into the United States with our New Jersey offering on course there. Another exciting announcement is that we launched the MonmouthBets app. We launched that this week, so there'll be betting online for the first time in the United States for Fixed Odds betting on Thoroughbreds. An exciting achievement for the business this weekend coming up. The update to our managed trading services agreement that's gonna be significant in this segment that's obviously the fastest growing this year. We'll cover off that in more detail. Also selected as a new tote provider in Norway. There's a bunch of deals that we've done through our tote business, and this is an exciting one for us as well. For our GRN segment, they signed a deal with Penn National Gaming for the data and video content distribution into the international markets. Again, it's really sort of gets that part of the business accelerated moving forward. A closing cash balance for the year of AUD 87.6 million. Before heading over to the numbers with Anthony, we wanted to touch on a couple of our investments that we've made this year. We started the year significantly with a bank balance of about AUD 110-115 million. We're looking at ways to deploy this capital. While we kept a close eye on the number of opportunities across the market, we've chosen to be really conservative and concentrate on what we feel are low risk and within our control as investments. Firstly, we invested heavily in our tote business. We spent circa $16 million on terminal hardware, upgrading significantly to allow our customers to modernize and future-proof that business. This has really allowed us to future-proof this division of our business as well. The Global Tote is a steady ship at BetMakers, and we see this as our underlying consistent revenue stream with very good EBITDA margins. Investing in this technology has allowed us to sign longer-term deals, moving away from the traditional 1 or 2 year extensions to now signing 5 or 10 year deals, as evidenced by our Norway and Monmouth Park extensions. The new terminals are starting to roll out, which is exciting for us into the U.S. market, and they'll continue to roll out throughout 2023. The second major investment that we did that you'll see in our numbers was to close the deal with the NTD, which was our advisory fees to the tune of AUD 15 million. Closing the NTD deal was a significant one for BetMakers. Financially, it obviously stacks up with the ability for us to earn, you know, circa AUD 300 million over the next 10 years and beyond. While we have decent minimum revenue numbers built into the contract, we expect this to hit our annual caps quite quickly, which can quickly grow into in excess of AUD 20 million a year. By year 10, more like AUD 40 million. In addition to the financial benefits that the deal has, there's significant support to the model that we've developed for outsourcing tech and trading. A model we feel can be transformed into global markets. While this model is somewhat out there already, we feel the deal gives BetMakers the opportunity to create a B2B solution that's competitive with tier one operators globally. This will allow the global operators to come out of the blocks with focus clearly on customer acquisition and engagement. Thirdly, we haven't spent a great deal of money at this stage, but we've announced the share buyback. We feel the business is in a very strong position from a balance sheet and a P&L perspective. Given this, we feel we can create some shareholder value by deploying some of our capital into the share buyback, as we feel the business is great value at the current market. Given the position of the business now and the deals which are in front of us in 2023. I'd like now to invite Anthony Pullin to take over, take you through the financials. Cheers, Todd. If you've got the presentation in front of you, I'll sort of run through slides 4, 5 and 6 in a little more detail. Todd's covered off on some of the highlight numbers. Starting with the Q4 cash flows. We've generated AUD 26.2 million in cash receipts from customers. This is an increase of 194% on Q4 FY 2021, and 21% on Q3 FY 2022. We also generated positive cash flows from operating activities during the quarter of approximately AUD 400,000. To highlight some items from the quarterly cash flows. First, in the operating activities, we spent approximately AUD 2 million on accelerated expenditure. We have a number of contracts which are signed, announced, and we're working to get into the market as soon as possible. Jake will take you through a few of these later in the presentation. The costs which we've highlighted here are directly related to accelerating the delivery of those products, which are currently not generating any revenue for us. Staying within operating activities, we also have about AUD 500,000 of non-recurring third-party advisor fees. Within the investing activities. Todd's touched on a couple of these points, but we spent approximately $5.6 million during the quarter on BetLine hardware for use in the U.S. We also made the AUD 15 million advisory payment in relation to executing the NTD wagering deal. If we go to the next slide. Here we have the annual cash flows. I guess before I get into the numbers, we try to keep our financial reporting relatively simple and transparent. As a business, we don't capitalize any staff or staff development costs. We put them all through the P&L. Hence, we feel that our cash flow position for the year is a relatively good indicator of the company's underlying profit and loss. For the full year FY 2022, we've recorded AUD 93.3 million in cash receipts from customers, which is up 325% compared to FY 2021. Once again, diving into some of the operating activity cash outflows. We've highlighted approximately AUD 4 million of accelerated or non-recurring costs during the year. Into investing activities. Once again, we've already touched on this. We spent $16.7 million in U.S. related hardware. This investment has acquired us a significant amount of hardware. Moving forward, we expect to see that cost reduce. Looking forward to FY 2023. Based on the current contracts we have and expected pipeline, we'd expect that CapEx to be closer to AUD 6 million. Moving forward into FY 2024 and beyond, we would probably see that return to a steady state CapEx investment of approximately AUD 3 million per annum. Lastly, we finished the year with AUD 87.6 million in cash on the balance sheet and no debt. Feeling in a pretty good position to execute on our strategy during FY 2023. If we jump to the next one, please, Jane. Okay. In terms of revenue overview, once again, as I mentioned on the previous slide, we feel that our cash flow is a pretty good proxy for our P&L of the business. Just to highlight from a revenue perspective, our full year revenues of AUD 91.6 million, up 370% on the prior year. Second half revenues of AUD 48.1 million, which is up 10.8% on the first half. Our Q4 FY 2022 revenue run rate is in excess of AUD 100 million. Which, as Todd mentioned, is quite a good milestone we're proud of here at the company. From the graph, you can clearly see that a lot of the growth in the last few years come from the expansion of platform managed trading services products, which falls within that Global Betting Services division. As well as the integration of the Sportech Racing and Digital assets, which is flowing through the Global Tote division. Jake will cover off on the operational performance of these divisions a little later. Now I'll hand back to Todd to run through the team and company footprint. You're on mute, Todd. Thanks, Anthony. Obviously, it's been a busy year here at BetMakers in bringing people on and we're very pleased to add two people to the board. Anna Massion, who's previously run investment portfolio in gaming stocks and is now an executive on a number of boards, including Playtech. She brings to the board some industry knowledge, extensive industry knowledge and global contacts, in particular, through the U.S. Exciting to have Anna on board. Rebekah Giles, a leading lawyer here in Australia, that sits on a number of boards, including the Greyhound Racing New South Wales board. Rebekah brings strong credentials across in compliance and corporate governance and rounds out our board nicely. A couple of key management personnel who we've brought on. Sam Adams, Chief Legal Officer. Christian Stuart, the head of our North American market, as our U.S. CEO. Comes out of the Caesars Digital business. Recently, Dan McDonald has been promoted as Chief Digital Officer to deliver on some key projects such as the NTD go live. If we move on to the global footprint, Jane, you can see there from the business, BetMakers is well positioned globally. We're in over 30 countries, 45 regulatory licenses, employees now up to close enough to 500 employees. We've got a really good footprint in the business. When Jake covers off on the business units, you'll get an understanding of how, you know, moving forward, our strategy is to connect these jurisdictions and this global footprint into each other. Really exciting times for us moving forward. I'll hand back over to Jake now, and he'll take you through the key parts of the business. Thanks, Todd, and hi, and thank you to everyone dialing in. Jane, if you just wanna roll forward to this slide to start off with. As touched on, I think in our last presentation that went out to market, going forward, these will be the segments that we report within. Also, in terms of our strategic initiatives and overview of activities, they'll sort of fall into one of these three buckets. Jane, if you just roll to the next slide, which is 11 for anyone at home. Global Betting Services. Now this division experienced really healthy growth throughout the period. Importantly, we saw further diversification of our revenue base due to many new clients coming on board. As Todd mentioned, also the finalization of the Tarpin deal and the subsequent increase in our gross margin. Another highlight here is the annualized turnover of the combined platforms in the U.S. and Australia now exceeding AUD 2 billion. A great milestone for a growing business. Going forward here, the theme is really focused around execution. That execution is due to the strong pipeline we have of contracted deals, not only here in the Australian market, but also in new markets, Canada and New Jersey. We see the new NTD consortium deal and other contracted deals here in Australia is vitally important to that growth. We see also some upside with new markets and the work we've done with regulators through software and platform approvals to get our new customers live in those markets, laying the foundations to onboard new business throughout the second half of this year. A few other key areas to note here within this division. Certainly as Todd touched on at the start of the presentation, as part of the fixed odds rollout in New Jersey, we're gonna be morphing that offering to more and more of a digital reach. Certainly the MonmouthBets app and online and also throughout our BetLine terminals on course getting the product in front of as many punters as possible. The final thing to call out will just be upgrades to our digital offering in general, in this platform division, both for Australian and North American customers. This is expected to kick off in Q4 of this year and into Q1 of next year. We see this as a catalyst for further growth, both with new customers and also helping our existing customers grow and therefore our revenue base. Jane, if you can scroll down to the Global Tote slide. Todd touched on it off the top. It's certainly a strong and underlying core of our business, the Global Tote. It delivers a strong margin, a very diverse global network, and it covers premium racing jurisdictions in both hemispheres that really underpin our strategy and tie in nicely to the other two divisions. A big focus for us here has been around signing long-term partnership deals. These longer-term partnership deals allow us as a business to invest in those customers, which Anthony touched on. But it also allows us to tie ourselves to the upside in these markets and new revenues that we're able to create through our investment. I think this is a really good endorsement for what we're putting to our customers, and noted there is the extension with Monmouth Park, the deal with Norway. We've also secured other deals with Finland in that region, the Caesars contract and a few others noted there in the presentation. You know, these are customers buying into our vision, and they're the customers that we wanna support with our investment. Hopefully we both succeed off the top of that. Upcoming plans here and focus, I guess, to look forward to for the rest of this year center around two key things that I'd like to point out. One of those is our B2B commingling hub. For those of you not familiar with that terminology, that's essentially connecting the racetracks that we currently service from a parimutuel perspective to more customers around the world, be that through a direct link or setting up a sub pool of their racing. With the business now licensed in the jurisdictions Todd noted and customers betting from around the world, we see a huge opportunity in connecting those customers, leveraging that liquidity and creating new revenues for the racing businesses. The other obvious one here is the rollout of the new Tote deals, announced through the period, particularly the Norway deal. That'll be a big focus for the team and you know, deliver some strong growth going forward. Moving on to the final divisional slide, the GRN. Steady growth here for the year. You can see a slight drop off in this half just due to some seasonality. That's really tying into the racing calendars globally and the Southern Hemisphere versus Northern Hemisphere racing. Big focus for the next six months here is around executing on the rollout of the PNGi content that Todd touched on off the top. Penn have 10 new tracks that will come into our suite from North America. Importantly, they race all year round, and they play a pretty critical role in that calendar for North America, particularly in the latter months of the year when some of the calendar's not racing. We're definitely working hard behind the scenes to get that up and running and extend that content into new wagering places around the world, so we can capitalize on that in the last part of this year. Further to this, our strategy here is certainly around securing more content, and proving out that model. That content could be through partnerships with racing bodies or rights holders. Obviously for us, that ties into the distribution of the content, but also further deployment of our race day services and integrity services, which is something to look out for in the second half of this year as we expand into new jurisdictions. With that, I'll just pass back to Todd, who might round out this presentation with the major focus areas for those three units. Yeah. Thanks, Jake, and that's we just do wanna cover off on this. There's a lot in the presentation, and we wanna sort of point out some key things for you to look at as investors. You know, our focus in 2023 is on execution. We've set the business up quite well. We've got some really good opportunities, really good deals that we have signed, that we'll see the benefit of in 2023. Those things in GBS, which are Global Betting Services, obviously the launch of the NTD platform, is using our proprietary next generation platform here in Australia. We're doing a lot of work on that, and gonna be excited to launch that. The business will be obviously launching before the end of the year. We're looking forward to that going live. We've got another nine contracted platform operators in the Australian market here. Two of them have already gone live, another seven before the end of the year. That's on, I think we did eight in the start of the first half of this year. Another seven to go live would sort of put us over 25 platforms in the market here in Australia. Yeah, pretty excited to get those out. We're gonna expand the BetMakers proprietary that nextGen platform that we're building. Currently now, we're rolling that into the U.S. market. Our first platform obviously goes live with MonmouthBets this week. A great achievement to move our technology from Australia and move that into the U.S. From a Global Tote perspective, key focuses, obviously, as Jake pointed out, the Global Tote hub, getting that going, connecting our customers globally, you know, getting them betting on each other's products and building liquidity from a global sense. Our continued roll out of the BetLine terminals will allow us to do those long-term contracts that we're looking at, build that stability in the business. And then integrating our GRN content. You know, things like the PENN and getting that into our customers, into our network of tote customers globally and our network of fixed odds bookmakers as well. From a GRN perspective, what to look out for, obviously the expansion of New Jersey and the rollout of Fixed Odds, not only in the New Jersey market, but in the other U.S. states as well. There's a lot to do there. It's been a slow-moving beast, but we're really excited about that now that we've got things moving. Deployment again of our proprietary racing integrity and reporting platforms. Everybody that looks at that platform and what we can do gets excited about it. There's some really good opportunities for us to partner up with racing bodies globally and get that into other markets outside of Australia. Then the real focus for the growth of that part of the business. We've now got 12,000 races from the U.S. North American market that we're gonna distribute internationally. Those partners, you know, PENN Entertainment, Monmouth Park, Kentucky Downs, putting it into our network of operators in Australia, in Europe, in Asia, is gonna be a key focus for us moving forward into FY 2023. They're the things to look out for. We'd like to give you a moment to send through some questions, and obviously we're here to answer those and have a chat. Wonderful. Thank you, guys. Thank you for the updates. We have had a few questions come through, and again, we encourage shareholders to use the Q&A function at the bottom of your screen to send any further questions. I will kick off with the first one. A question here from Scott. How is the partnership going with Caesars, and how is the integration going for the rollout outside of Nevada? Yeah, I'll tackle that one. I mean, speaking more broadly about the deal, there's a lot of bespoke elements that went into it. Caesars had some staff internally with a lot of experience in racing. We worked pretty collaboratively with them to develop basically their own terminal UI and execution point. It's going really well. Obviously early days, and the idea was to scale up volume and capacity as we get on. Yeah, really pleased with how everything's going and certainly anything material that spawns from that will be announced and we'll circulate as soon as we can. Thanks, Jake. There's been a few questions that have come through about this. Does Bet own 100% of the website, MonmouthBets.com, and if so, assumed that Bet would get 100% of the profits generated from the bets placed online? Yeah. I'll grab this one. Look, any technology that we build, regardless of who we're building it for, we own. It's our proprietary technology. We own the IP of it. That's no different from MonmouthBets in regards to the technology. The actual license is owned by Monmouth Park, and it's them that goes online and we're just a B2B supplier. Our commercial arrangement with Monmouth Park is that the same as our bookmakers here in Australia. We look after the tech, we look after the trading, and they look after the customer acquisition. We don't get 100% of the profits. That'd be very nice, but we don't. We do look after the tech, and we are exposed to the growth of that business and the success of that business as well. Thanks, Todd. Just staying with that. Previously BetMakers has asked for EOI, sorry, for online bookmakers for New Jersey, but the recent focus has been to MonmouthBets. How are these negotiations progressing with these online bookmakers to offer these Fixed Odds products in New Jersey? Yeah, it's a good question. You know, the feedback really is about, you know, they wanna see something working, which is why we're focused on, you know, getting live at Monmouth, getting through the regulations, getting that ticked off and now going online. We're building out the app so that we can, you know, we can show the operators what it, you know, how it works and, obviously the tracks that wanna build a revenue stream, they can, they've got access now to deliver that to a customer. MonmouthBets will be the first one, and obviously we'll show people what it does and how it works. At this stage, that's the first online operator that's gonna go live. Thanks, Todd. Are there any other countries in South America looking to partner with Bet? Yeah, I can cover that one off as best I can. Obviously, we've got some existing partnerships there that investors would see from previous presentations and things like that. We actually see it as a massive growth market, and there's huge opportunity in linking up a lot of the handle through this area. I think we touched on it in the Global Tote slide around our B2B commingling hub. We see this as an opportunity to deliver a lot of revenue to Latin American racing in general. That's probably the main bit of focus in that area, particularly speaking to that part of the world. Thanks, Jake. Again, a few questions just on NTD and the go live date. Not sure if you wanna comment on that one. Yeah. We can't comment when they're gonna go live. What we do know is that the tech is gonna be ready for Spring Carnival. Whether, you know, the guys wanna go live and they've got their stuff sorted out will depend on them. Yeah, it's coming along quite well, and everyone's pretty excited about it. When you see the website, everyone seems to get excited, so I think that's ticking along nicely. Todd, I'm just gonna stick with NTD on this one. Sorry, we've got quite a few questions coming through. Are there any other further discussions about other opportunities occurring with the, you know, match with the News Corp deal, and will the NTD partnership be taken outside of Australia? Yeah. This stage is focused on Australia, as far as I know. You know, we've been assisting them with, you know, any opportunities that come up and obviously we're, you know, looking to be their tech and trading partner. You know, and any that can accelerate that or build that into a bigger and better solution, then we're interested. In our negotiations, we really focused on making sure that, you know, that was an opportunity for us, that we could expand the agreement that we've got with them. Obviously, we're gonna support them as much as we can. They'll be a key partner for us, you know, here in the Australian market at this stage. Thank you. There's just another question that's come through. Are we in discussions with Colorado about Fixed Odds? Yeah. Colorado is an interesting one. It's a market that we think will open up after New Jersey. I think that, you know, there's all eyes on how this is gonna work this weekend in terms of the online offering. You know, Colorado has put regulations in place so they can allow Fixed Odds. There needs to be commercial deals done in place and sign offs from the horseman's group and the track that's listed there in Colorado, which is Arapahoe Park. Look, I think those discussions are going on between those parties, and obviously, we're there to help out, you know, where we can. We're pretty keen for that to open up as soon as possible. We've got a question here from Jesse, who congratulated us on a great quarter, but growth is obviously a focus, but when will we see more scale and cash flow hitting the bottom line? Sure. I think that's one squarely for me. Look, I guess in the coming year, we hope to see a lot more scale coming through in the business. Up until today, and in FY 22, there's been a lot of investment ahead of the curve. We've been building out the team, as you can see in the growth in staff costs over the prior quarters and Q4 4C reporting. Building out that team to support opportunities such as NTD, Caesars, you know, U.S. Fixed Odds, et cetera. We touched on it before, we haven't really seen any revenues come through from these opportunities. We're confident that we'll start to see these opportunities hit the market, start to generate revenues, and then hopefully start to generate some scale and positive cash flows on the back of it. Thanks, Anthony. We've got a question here from Grant. What are our biggest challenges with regards to technical issues delivering our service on a global scale? Yeah. I think we've been really fortunate here to have a market in Australia that's, you know, well developed and probably the most advanced in the world. You know, while we're in here testing ourselves in this market, it is one of those ones that you need to get right. We're confident that we get it right here in Australia, then we'll be able to roll that out globally. I think the challenges that you face in any market are gonna be challenges you know, globally. That being said, there's a lot of regulation and reporting and different things that you need to tick off. You know, those things, those challenges are the ones that we face when we're rolling out. We're fortunate that we've got, you know, 45 jurisdictions that we're licensed in globally. We've got a lot of experience with that across our tech, whether that's tote Fixed Odds or a digital platform. While we've got some experience in it, every market has its own unique challenges that you've gotta face and, but we've now got the team to be able to handle that. Thanks, Todd. Another question that's popped up. Just on the mobile betting at Monmouth, and the timing of why it's probably taken so long, perhaps if you wanna comment on that. Yeah. I mean, the challenges that you face from a regulatory point of view and getting people, you know, aligned. This is something that we set out a couple of years ago and, you know, probably didn't, you know, appreciate the enormity of what we're doing. You know, changing the law in the U.S., changing the law in New Jersey has been a massive effort. Obviously then once you do that, then you've gotta go through all of the next stage of things, which is getting your technology right so that you can, you know, build it and roll it out and obviously tick all the boxes from the regulators in that market. They're just, you know, probably we're there now. You know, we're live this week, so really exciting time for us and a really good effort from the team to actually tick that box. Guys, there's also been a few questions that have come through just on the options of dividends and whether there'll be a dividend payout. Well, I hope so in the future. I'm a significant shareholder myself, so yeah, anything, any dividends that are paid out would be great. Look, we're in a phase of growth. You know, we're building you know, some opportunities you know, across the business. Obviously, you know, in the future it's you know, it then becomes a matter of making sure that we're making as much profit as we possibly can. While these opportunities are there, and obviously you've seen some really decent growth in our business and to hit you know, AUD 100 million annualized in revenue is a huge achievement, and we're really proud of that. There's more to go. We'll keep putting the foot on the accelerator and entering those markets. Again, a few questions just on the shareholder buyback. I'll actually combine them, too. Chris has just asked if we're gonna be buying back the entire 10%. Look, this is, you know, as was pointed out before, we see the business, you know, as value at the moment. You know, we've gotta be careful of where we deploy our capital. We've been strategic in that. We've been focused on spending the money in the right way and what gives the best return to shareholders. At this stage, we see value in BetMakers. We'll be buying back whatever we can. If opportunities come up that, you know, we see as another way of adding on to shareholder value, then obviously we'll be looking at that as well. You know, we don't know where the business, you know, the opportunities come up and when we need that cash. At this stage, you know, we're focused on the buyback and that's our investment strategy at the moment. Todd, just further to that then. Is the plan to continue the share buyback as the share price keeps rising, or was it only attractive option when it was in the 30% to 40% range? Look, what I can tell you is we see the business of value at, you know, at current rates now. The reason we see it of value is, you know, we understand the opportunities that are in front of us. We know that the business is gonna be in a better position in 12 months' time than what it is now. If we see the value now, then we're certainly gonna be seeing it as value in 12 months time. Jake, this is one for you perhaps, from Jennifer. In GBS, when do you expect the additional seven contracted clients to launch? Is it by the end of the first half 2023 or later? Yeah, we anticipate all of those will be live within the next half, so pre-Christmas. Look, there's one just on the opinion of the amount of shorts in the stock. Yeah. Look, we're you know. It's probably something that we can't really comment on, Jane. You know, all we're doing is concentrating on the business. What we do know is the shorts have got it wrong. You know, our business is growing, our business is moving forward. If someone wants to take a bet against us, then they're gonna end up on the wrong side of the wrong side of the equation. Thanks, Todd. A question here just from John. After a period of aggressive expansion, the retail betting markets in the U.S. and Australia seem to be categorized by OSBs withdrawing or consolidating more but smaller than expanding. How would you describe the health of the underlying OSB market in Australia and the U.S., and what does it mean for the demand outlook on BetMakers service? We've actually found that those are opportunities. You know, when there's consolidation in the market, it comes together and that creates opportunities at the bottom end of the market. You know, consolidation and regulatory hurdles and increased taxes and all that sort of stuff means that operators are they've gotta be more streamlined. Then that creates opportunities for us. That's where we come in, and that's where we accelerate. You know, we're talking to someone earlier on and we've got 18 platforms in the market at the moment, and you know, they'd be all, if not all, most of them would be cash generating businesses that are profitable. You know, we know we've got the right model. We know we've got the right model because it works for our customers, it works for those clients, and it works for BetMakers as well. Look, expanding that out into not only the Australian market, which is where we're seeing, you know, the market evolve and obviously come into those challenges. The U.S. is going through some of those challenges right now, where you need to be spitting out money, not just burning cash. You know, we see that as an opportunity, you know, in this wave and also the next wave when there's consolidation again, moving down. You know, as the markets evolve, then they'll move through these different waves of opportunity and regulation and headwinds and tailwinds, and we've just gotta be there at the right time. Thank you. Another question's come through from Rose. It's on the competitive landscape, but in particular from, in the U.S. space. Yeah. I can tackle this one. I'll give Todd a breather. We've certainly got competitors in certain areas of the business and, you know, if we take it back to the three business units, there's competitors in each of those business units. What we're very confident on is our solution that covers all three of those and the service we can provide end-to-end to a wagering operator or a racetrack. Basically either side of that value chain. Yes, while there is competitors in the market, you know, we've been working pretty hard to ensure that our full solution, you know, is the solution of choice. You know, as Todd touched on earlier, at the moment, you know, most of that growth in that solution we see is an internal thing, hence buyback and whatnot. We're obviously also, you know, actively looking at what that solution looks like in 2, 3, 4, 5 years, and getting ahead of the curve, as we've done with this last push with the MTS division. I think that's a continuing focus, really. Thanks, Jake. Just a question here from Neil. Is there any update on the position reported in early July regarding interstate fixed odds into New Jersey? The release said that you've requested confirmation of the position from the gaming enforcement in New Jersey. Just a little bit more of an explanation on that. Yeah. We've had the DGE working overtime helping us out with the launch of our MonmouthBets app. We haven't had a chance to circle back there. Look, just to explain that situation, you know, there's rights holders that would like to sell their content into New Jersey. You know, we don't wanna do that exclusively. We want as much content to come into New Jersey as possible. All we're there to do is protect the horsemen and Dennis at Monmouth Park and ensuring that, you know, any operators that are operating within New Jersey that wanna do Fixed Odds obviously get their agreements in place with the horsemen. We've just asked the DGE to make sure that they clarify that with the operators. Thanks, Todd. Just one for Anthony here. Can you disclose how much has the Australian market turnover and revenue has gone through the BetMakers MTS platform in the second half of FY 2022? Yeah, sure. What I can note, it's in the presentation, I think, across our global platform offering, we're doing in excess of about AUD 2 billion in turnover a year. That's based around, I think it was June annualized figures. Regarding the Australian market, lion's share of that would be related to the Australian market, say around 85% of that turnover figure would be derived from the domestic market. Wonderful. Another one that's come through from Neil. What are the likely cybersecurity risks and any subsequent consequences to BetMakers? Yeah. There are challenges all the time that we face, with cybersecurity and obviously, those challenges. The business is obviously got some things that it needs to do, in regards to, our, all of our agreements and stuff. You know, we need to put things in place and we are doing that. We're continuing to improve. We've built a really good security team out now, within the business and, that handle that. So look, any business, online has got challenges with cybersecurity, and all you can do is put your best foot forward and put things in place that, you know, if things happen, that you can get up again, really quickly. It's an ongoing battle and something that we're you know is at front of mind for us and something that we need to handle and keep across. Thanks, Todd. Just one for Jake, I see. Do you see Canada as a big market, and how are things progressing there to sort of timeframes for Ontario Bets, OntarioB ets? Yeah. Well, I think Canada in general certainly will be. That will be driven by the fact that the operators who've invested in North America are already in states will be wanting to achieve scale, so they'll be wanting to deploy that service in as many of the provinces in Canada as possible. Ontario being the first of those, of which there's I think a dozen operators already live. These are big global brands. We certainly see it, you know, essentially providing market size of, you know, mid-sized U.S. states potential. That part's super exciting. Obviously there's racing in Canada, both Thoroughbred and Harness, and an existing parimutuel revenues and, you know, some opportunities there as well. Certainly it's nice to see that probably kicking off six months earlier than a lot had forecasted. Hopefully that you know lays a foundation for more regulation and rollout throughout the rest of Canada. Thanks, Jake. Another question just here from Ben. Are any of the board lending their shares to short sellers? That's a pretty easy one. No. Perfect. Another one here from John. Can you just add to this discussion around key competitors? Who do you most commonly come up against in your three business units? What are the relative strengths and weaknesses of these key competitors versus BetMakers? Yep. Do you want that one, Todd, or I can go? You can grab it, mate. No worries. I think one of the things you find when you're entering new markets is obviously always incumbents in those markets. I think as a business, we've always positioned ourselves as trying to create upside for all the stakeholders. That leads us down a path of, you know, partnership first model is our first instinct always. We think the sum of the parts for the players in the market, if they're working somewhat together, can generally deliver the best results for everyone. That being said, sometimes you do need to compete. I think we've proven that we've done a good job at doing that in the markets that we've been established in over the last few years. I'd say in terms of the challenges, yeah, obviously incumbents and, you know, being the new kid on the block or the growing business that often brings a bit of a target at times. You know, they're the battle scars that you live with and obviously, the more you get through, the easier it is and, you know, we keep surging forward. Thanks, Jake. We've just got time for one more. Do you see the opportunity for taking your Australian clients to the U.S.? Yeah. Well, that's, I mean, Jake, you wanna talk on- Sure. Yeah. I think the success of the Australian market in general, and obviously it's the model that we've deployed, has certainly had our customers thinking not just about the U.S., but other markets in which they can obviously lean on some of their scale and our technology. There's obviously three or four licensed wagering operators in Australia who are now live in some way, shape, or form in the U.S. That probably looks like a dozen, I think, if you fast-forward two years. Yes, I think there's certainly opportunity for us to help those guys out. You know, speaking more broadly, we're certainly cheering for the Aussies in their quest for market share over there because I think there's a lot of learnings from our market that can succeed over there. Hopefully, you know, we're positioned to be a part of that journey for the operators that do it. Well, thanks so much for that, Jake. Thank you all for joining us today for the BetMakers Investor Webinar. A copy of today's recording will be available on our website and across our social media platforms in the coming days. Should we have missed any questions, please feel free to reach out via the contact details on the bottom of our ASX releases. Otherwise, we look forward to hosting you again soon. Thanks so much. Thanks very much for joining us.