A prominent sports wagering media enterprise, Better Collective, announced exceptional performance in 2022, with revenue soaring by 52% to €269 million (roughly $292 million). This remarkable expansion was propelled by a 34% natural rise, underscoring the company’s robust market standing. Significantly, recurring income, a vital gauge of enduring growth, surged by 54% to €123 million, now constituting 46% of overall revenue.
The firm executed two strategic purchases in 2022, further cementing its foothold in the North American market. In March, it procured a Canadian sports media entity for €21 million, succeeded by the acquisition of Futbin in April for €105 million, a maneuver intended to broaden its reach within the rapidly expanding esports wagering sector.
Better Collective’s fundamental business framework, linking customers with online betting providers, continued to flourish. The company delivered an impressive 1.7 million fresh depositing clients to its associates in 2022, with 76% of these patrons generating income through revenue-sharing accords. The final quarter alone witnessed the addition of 580,000 new patrons, with nearly 300,000 joining during the FIFA World Cup, showcasing the company’s aptitude for capitalizing on major sporting spectacles.
The company’s US division, Action Network, also attained a substantial landmark, hitting its revenue objective of $100 million. Looking forward, Better Collective has established ambitious objectives for 2023, targeting €300 million in revenue and €100 million in EBITDA. The company’s long-range outlook, extending to 2027, encompasses a projected compound annual expansion rate of 20% and an EBITDA margin of 30-40%, excluding extraordinary items. Ultimately, Better Collective aspires to reach a level of financial stability that empowers it to finance future acquisitions entirely through its own cash stream.
Initial indicators for 2023 are promising, with the company registering growth slightly under 40% in the first few weeks of the year, fueled partly by the introduction of the regulated sports wagering market in Ohio.
In early 2023, the firm secured agreements with prominent entities in the realm of sports journalism: Goal and Wirtualna Polska.