Better Collective announces 148% third- quarter revenue Increase

Finance News

Bettor Collective showed strong underlying growth on all major KPIs in the third quarter, however, revenue was impacted downwards by very low sports win margins in July and August.

The sports win margins were negatively affected by larger operators accelerating marketing campaigns (free-bets, retention-bonuses etc.), as well as continued strong NDC performance, where new depositors receive sign-up bonuses.

Group revenue grew by 148% to 45,413 tEUR (Q3 2020: 18,298 tEUR). Organic revenue growth was 29%. September reached a new monthly revenue record of 20,285 tEUR, equal to 45% of the total quarterly revenue.

Jesper Søgaard, Co-founder & CEO of Better Collective, commented:“Q3 was a great quarter closing with an all time high monthly revenue in September. This was partially the result of strong performance across all our US assets, including our recent acquisition, Action Network. September was also the beginning of the high season for US sports, which is expected to fully materialise in the Q4 results. ”