Dabble eyeing NASDQ listing as business shifts into higher gear

Dabble, a social betting business, is now considering a potential public listing, which is most likely going to focus on US-based NASDAQ, The Weekly Times first reported. However, the United States may not be the only jurisdiction where the company would be interested in going ahead with an Initial Public Offering (IPO).

Dabble confident on US entry seeks to raise additional capital through public listing

Instead, Dabble is equally exploring its options in Australia where it could end up listing on the Australian Securities Exchange (ASX). Dabble has been determined to grow its footprint and raise additional capital. A shareholder document seen by the publication read:

"We are currently exploring possible IPO pathways with both Australian and US advisers, and the early feedback is that Dabble could make for a promising IPO prospect.

We expect that number to be 5 percent-plus by 2027. While advertising reform is likely in Australia, our view is that recreational punters will continue to seek betting as a form of entertainment, and that the best product will win in the end. Dabble is well placed to be resilient to any changes"

At the onset of the year, the company said that it was looking to break ground into the Daily Fantasy Sports (DFS) market in the United States.

Although originally based in Australia, Dabble and its Co-Founder and Chief Strategy Officer Jon Robin has long seen the United States as an important stepping stone to his firm’s future success.

The news of a potential public listing is therefore not surprising as Dabble could use the additional capital to turbocharge its growth in the highly contested jurisdiction. Never mind the fears that the sweepstakes and DFS sectors have come under some heavy criticism from mainstream gambling industry stakeholders.

Striking home with hundreds of thousands of Gen Z and Millennial sports fans

Dabble has in fact been able to amass a respectable audience of more than 850,000 users since it launched in the United States in October 2023.

So far, DFS is the only vertical in which Dabble seems interested in operating, and no overtures have been made towards mainstream gambling.

Dabble though has become a fixture for many generations of bettors, especially Gen Z and Millennial sports fans who have found the app to be something they relate to and are happy to utilize.

Similarly, Dabble has secured investment from some of the largest companies in the sector, including Tabcorp in Australia, a mainstream betting giant, and Yolo Investments, a venture capital vessel that scouts out promising industry-based projects and backs them.

Dabble also recently expanded its esports betting offering in Australia with PandaScore.

Image credit: Flickr (@bfishadow)