1. eBet Limited Half Yearly Report 31 st December 2004 Half Yearly Report 31 st December 2004

2. eBet Limited Half Yearly Report 31 st December 2004 Business Review Consolidated loss after tax $681K Group Revenue of $7.7 million Key Contributor US Link Start Up Costs $867K Gaming Systems profit of $167K Online business $19K Operating costs reduced by $800K (20%)

3. eBet Limited Half Yearly Report 31 st December 2004 Revenue 31 December 2004 $,000 31 December 2003 $,000 Gaming Systems – Sales5,2075,526 Gaming Systems – Service, Support & License Fees2,0631,398 Professional Services197147 Other47135 Total Gaming Systems Revenue7,514 7,206 Sports Acumen0338 Online Services172757 Sale of Source Code 0 400 Total Online Revenue1721,495 Maxi Gaming00 Total Revenue7,686 8,701

4. eBet Limited Half Yearly Report 31 st December 2004 Balance Sheet 31 December 2004 $,000 31 December 2003 $,000 Current Assets7,5243,930 Non Current Assets14,45216,393 Total Assets21,97620,323 Current Liabilities3,3287,894 Non Current Liabilities5,1893,635 Total Liabilities8,51711,529 Net Assets / Equity13,4598,794

5. eBet Limited Half Yearly Report 31 st December 2004 Cashflow 31 December 2004 $,000 31 December 2003 $,000 Cashflow from operating activities(1,332)758 Cashflow from investing activities(377)(711) Cashflow from financing activities1,408(573) Net Increase/(decrease) in cash(301)(526) Cash at the beginning of the period2,0511,340 Cash at the end of the period1,750814

6. eBet Limited Half Yearly Report 31 st December 2004 Gaming Systems Division Market still difficult- confidence building Gaming systems & equipment Revenue $5.207 million Domestic Sales = 84% International Sales = 16% Cost of Goods reduced by 5%

7. eBet Limited Half Yearly Report 31 st December 2004 Gaming Service, Support & Licenses To date our leader in Recurring Revenue Model Strong Growth Revenues increased by 42% to $2.1 million

8. eBet Limited Half Yearly Report 31 st December 2004 Professional Services Specialised Development Work Sales of Non Core Products- Risk and Compliance Mgr Contributing new revenue of $197K

9. eBet Limited Half Yearly Report 31 st December 2004 Maxi Gaming (US Links) System Preparation, Implementation and Start Up Costs of $867K (expensed) Sophisticated Wide Area Network “Go Live” across a Total 76 machines at Pechanga & Soboba

10. eBet Limited Half Yearly Report 31 st December 2004 Maxi Gaming (US Links) Early figures indicate significant increase in machine play Commence expansion operation over the coming weeks

11. eBet Limited Half Yearly Report 31 st December 2004 Network Operations Centres Wide Area Progressive

12. eBet Limited Half Yearly Report 31 st December 2004 # As at 7.00am 21/02/05

13. eBet Limited Half Yearly Report 31 st December 2004 Jackpot Hits 10 Minor Jackpot Hits =$9,416.65 132 Mini Jackpot Hits =$11,767.92 142 Total Jackpot Hits=$21,184.57

14. eBet Limited Half Yearly Report 31 st December 2004 Significant Developments Player Account Limits Increased from $200 to $1,000 EPS re-branded and re-launched as Freedom Netcash suite of products, scaled to suit venue needs and expectations

15. eBet Limited Half Yearly Report 31 st December 2004 Significant Developments SAS Protocol compatibility for International Markets Remote Firmware Download capabilities Introduction of Risk & Compliance Manager System

16. eBet Limited Half Yearly Report 31 st December 2004 Subsequent Events Maxmillion$ Wide Area Link Progressive Jackpot System has commenced operations Significant Company Milestone Strengthens the Recurring Revenue Model

17. eBet Limited Half Yearly Report 31 st December 2004 Outlook Domestic market remains challenging Increase in product range Continue our push into the International Markets Expand Non- Core Products Maxi Gaming early performance indications provide will meet EBITDA forecasts of $800K (first full year of operation)

18. eBet Limited Half Yearly Report 31 st December 2004 Thank You Questions