Best bookmakers for NBA odds

first_img Topics: Marketing & affiliates Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter NBA Champions NBA Conference Champions NBA Division ChampionsWe also looked at the three most popular NBA game markets: Subscribe to the iGaming newsletter With the NBA season now under way, leading tipster site bettingexpert.com evaluates which bookmakers are offering the best odds With the NBA season now under way, leading tipster site bettingexpert.com evaluates which bookmakers are offering the best odds.Basketball fans across the world took a collective deep breath in earlier this month when the 2018/19 edition of the NBA began.With more than 1,200 games on the menu during the regular season beginning in October, and with the NBA playoffs beginning in April and concluding with the finals in June, the premier basketball competition in the world offers bookmakers the opportunity to attract regular bettors and promises consistent profits through the marathon nine-month campaign. As the NBA season commenced, we decided to take a look at which bookmakers were offering the best value odds across popular NBA betting markets. These included the following NBA outright markets: Best bookmakers for NBA odds Marketing & affiliatescenter_img 10bet 188bet 888sport Bet365 Betathome Betfair Betfred Betright Betsafe BetVictor Betway Boylesports Comeon Coral Energybet Ladbrokes LeoVegas Marathonbet NetBet Paddy Power Skybet Sportingbet Titanbet Unibet William Hill Winner SportBest bookmakers for NBA odds While some bookmakers may have a wider, more diverse range of odds and markets available, for betting on traditional NBA markets, the best three bookmakers following our analysis were Coral, Betfred and Ladbrokes.Coral ranked highly across virtually every category in our study, ranking among the best bookmakers for NBA outrights such as NBA Champions 2018/19 and NBA Conference Champions 2018/19. Coral also ranked among the top bookmakers when it came to assessing division winner markets, as well as traditional game markets such as handicaps, points totals over/under and moneylines.Betfred came in second place in our rankings despite not offering division winner markets. However, Betfred ranked among the best bookmakers for NBA Championship and the best overall for NBA Conference winner markets, not to mention coming in second place for moneylines and in the top five for both handicaps and points totals.Ladbrokes completed our top three for NBA odds this season. One of the biggest bookmakers in the UK, Ladbrokes ranked among the best bookmakers across all categories, offering some of the best odds for NBA outright markets such as the NBA Championship and Conference winner markets. Ladbrokes was also a steady performer across NBA division winner markets, not to mention among the best ranking bookmakers for NBA game markets such as handicaps, points totals and handicaps.Paddy Power also deserves a mention for being well ahead of the rest of the pack, but just short of Ladbrokes in third place. Paddy Power is offering some of the best value odds this season on NBA outright markets, as well as NBA game markets, in particular points totals and handicaps.Best bookmakers for NBA outright odds The NBA season can be a grind for game to game bettors. Many successful NBA bettors stay away from game markets early in the season and instead invest in outright markets such as NBA Championship, Conference and Division winners, with the intention of trading out of their position later in the season.At the conclusion of our analysis we determined the best bookmakers for outright betting this season were Betfair, Coral and Paddy Power.Betfair ranked clear of every bookmaker when it came to NBA outrights this season. Betfair ranked among the top bookmakers across each outright category, including the NBA Championship, Eastern and Western Conferences, and each of the six NBA Division winner markets.Coral came in second place, ranking among the best for outright markets, with Paddy Power in third place just behind Coral. Both bookmakers are offering among the best value odds for NBA outright betting this season.Best bookmakers for NBA traditional game odds While many punters enjoy the occasional prop bet or dipping into the full range of exotics, the majority of NBA bettors focus on traditional markets such as moneylines (game result), handicaps and points totals.After ranking each bookmaker in our study, we determined the top three bookmakers for traditional NBA game markets this season were Marathonbet, Betfred and William Hill.Marathonbet were the clear winners in this category, ranking best across moneylines, handicaps and points totals.Betfred came in second place, offering among the best odds for traditional NBA game markets, in particular moneylines. William Hill ranked in third place for traditional NBA game markets, sharing second place with Betfred when it came to NBA moneylines.NBA betting this season Betting throughout the entirely of the NBA season is a grind that few bettors have the stamina or discipline for. But there are a significant number of bettors who’ve done their research , conducted a rich analysis of traditional betting markets and are keen to trade on NBA outright markets. Therefore the NBA season can provide a consistent flow of punters to bookmakers which make sure their odds are competitive.About bettingexpert.com Providing expert tips and in depth betting theory, bettingexpert.com is the world’s biggest social network of sports betting tipsters. Its global community of experts compete for prizes by sharing their strongest tips on upcoming matches across 25 different sports to help millions of sports bettors place knowledge-supported bets, with the best odds available from a variety of bookmakers. Betting Expert is owned by Better Collective, the leading developer of educational platforms within the igaming industry. Game winner (moneylines) Game handicap Game points totalTo determine which bookmakers were offering the best value odds, we calculated the margins for each bookmaker across the range of their most popular NBA betting markets. The lower the margin, the better value we determined the odds to be. Each bookmaker was then ranked across each market, with the following bookmakers assessed: Regions: Europe US 30th October 2018 | By Joanne Christie Tags: Mobile Online Gambling Email Addresslast_img read more

iGB Diary: Stop press – igaming not the cause of child gambling or homelessness

first_img Subscribe to the iGaming newsletter Tags: Online Gambling Topics: Legal & compliance Marketing & affiliates People iGB Diary AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Happy Friday igamers! In today’s missive we cover some positive advertising and tax news related to the sector (surprising, we know), along with a Twitter spat and a rather poorly timed furniture fail. Enjoy!Captain Obvious to the rescue…but we’ll take it With the swing of public and political opinion against the sector spurring departing RGA boss Clive Hawkswood to tell iGB recently that if parliamentary questions about gambling continue to be off the scale “it’ll reach a point where the government finds it easier to ban gambling”, the sector is in pretty dire need of some positive coverage out there atm. The Diary was therefore pleasantly surprised to receive last night an advance copy of an ASA report published today that revealed that child exposure to TV ads for age-restricted products is falling fast. For gambling, this fell by 37.3% year-on-year in 2017. Gambling ads made up less than 2% of all the TV ads seen by children. The report also established that the majority of ads they had seen since 2011 were for bingo, lottery and scratchcards (see Phil Blackwell’s excellent dissection of the double standards being applied by UK regulators to the National Lottery published on iGB this week). Exposure to sports betting ads also decreased from an average of one ad per week in 2011 to 0.4 ads per week. As the ASA admits, the findings background some pretty sizeable caveats though, namely “changes in marketing spend and behaviour”. Ad spend has been fragmenting away from TV across online channels for many years now, and kids are of course spending more time away from The Box (that’s what we used to call TVs btw) and their parents on their smartphones. As the contact who sent over the release put it, “Who’d a thunk it?” The ASA also flags up that it will report later this year on “whether the rules are working in the same way online”. With Hawkswood also admitting the industry may have to look at further self-regulation here if the whistle-to-whistle TV ad ban simply leads operators to shift more of their spend there, the clock is still ticking very fast for the industry to regain control over its messaging and head off more government interventions.Coates props up the country’s coffers When Denise Coates’ pay packet was disclosed in November, among the more bizarre coverage was a column from The Guardian’s Polly Toynbee linking Coates with the country’s growing homelessness problem. But the revelation that the Coates family is the second biggest taxpayer in the UK, courtesy of The Sunday Times Tax List 2019, would seem to suggest it would be more accurate to suggest she could be solving the problem, not creating it. Imagine how many homelessness centres could be funded by the family’s £156m contribution for the 2017-2018 tax year? Or hospitals, roads, etc. Given most of the UK’s other big gambling operators upped sticks for pastures more tax-friendly many years ago, the fact bet365 remains resolutely Stoke-based is something that should be applauded. This is particularly true when one considers the name that appeared third after the Coates family, Sir James Dyson and family. After being one of the loudest pro-Brexit voices in the business community, Dyson has attracted massive criticism after the announcement earlier this month that he is moving his company to Singapore. Still, we suspect Toynbee won’t be writing a column about Coates’ contribution to the country’s coffers anytime soon.The world according to Daniel Negreanu We’re all used to Twitter wars breaking out between politicians and celebrities, but the poker world got its own spat recently courtesy of a somewhat ill-judged tweet from Daniel Negreanu last week. The poker pro listed five traits of the “worst kind of poker player”, namely being a winner, slow, quiet, a nit or a hater. The next day he threw more fuel on the fire by tweeting that “this type of player is a cancer to poker”. His views drew a barrage of angry tweets, with many commenting he was out of touch with recreational players. In a blog post, Irish poker pro David Lappin said: “I suppose my biggest objections to Daniel’s tweets are that they come from a position of such privilege, are so dogmatic, possesses such a ‘holier than thou’ patronising tone and ultimately come from a man who lives in a bubble. He doesn’t play €20 games in his local casino. He doesn’t play €1/€2 cash games. He doesn’t play the €500 or €1K circuit. Yet he claims to know what’s best for everyone and thinks he has a right to tell other people how to act, or worse still, be.” Following the backlash, Negreanu deleted the Tweets and posted a blog entry in which he admitted his tweets had been “too harsh in tone” and went on to clarify and expand on the player traits his tweet had criticised. But though he had some supporters, largely the feeling remained that Negreanu should stop giving advice to players he’s out of touch with.Playtech’s bum note Last week we were invited to the inaugural Playtech Outlook event, in which we were given a presentation surrounding some of the key developments within the company, as well as their view of the biggest talking points for 2019. The panel of bigwigs featured VP of product strategy Tony Evans, live casino innovation head Kelvin Kilminster, casino director James Frendo, bingo MD Angus Nisbet and Peter Mares, CTO of Playtech Innovation Labs. From content diversification to gamification to regulatory compliance and beyond, the team gave us plenty to think about as we tried not to gaze out the window at the view of the Thames from the Sea Containers building. Developments such as their BetBuddy responsible gambling integration remain of particular interest as the industry continues to address and refine its approach. Unfortunately it ended on somewhat of a bum note when the lead presenter’s chair gave way beneath him as he concluded proceedings. Here’s to hoping his coccyx have recovered in time for ICE next week!That’s all for this week folks – have an amazing weekend and see you at ICE next week! 1st February 2019 | By Joanne Christie iGB Diary: Stop press – igaming not the cause of child gambling or homelessness iGB Diary Email Addresslast_img read more

Perform lands US sports betting data deal with MLB

first_imgSports betting Topics: Sports betting Digital sports media and content provider Perform Group has agreed a deal to become an authorised betting data distributor in the US for North America’s Major League Baseball (MLB).Perform will distribute official, real-time league data to licensed sports betting operators in the US.The supplier has said that the arrangement will help to create new engagement opportunities for operators active in regulated states across the country.Kenny Gersh, executive vice president of gaming and new ventures for the MLB, added: “Multiple distributors of our rich, reliable, low latency data will help drive competition and innovation in the sports betting landscape, providing MLB fans with the best gaming experiences possible.”MLB has a similar arrangement in place with Sportradar whereby the sports data solutions provider serves as the league’s official global data partner, distributing data to media companies and regulated sports betting operators worldwide.Perform already collects and distributes data from various other major sports league from around the world via its RunningBall fast data service, including football’s English Premier League and Spain’s La Liga.Image: U.S. Navy Digital sports media and content provider Perform Group has agreed a deal to become an authorised betting data distributor in the US for North America’s Major League Baseball (MLB). AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newslettercenter_img Regions: US 12th April 2019 | By contenteditor Perform lands US sports betting data deal with MLB Email Addresslast_img read more

Appetite for gambling drops in NSW

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Appetite for gambling drops in NSW Regions: Oceania Australia Tags: Online Gambling Subscribe to the iGaming newsletter The percentage of adults in New South Wales who gamble has dropped by 12% since 2011, according to a new study released by the Australian state’s government. 1st November 2019 | By contenteditor Legal & compliance The percentage of adults in New South Wales who gamble has dropped by 12% since 2011, according to a new study released by the Australian state’s government.The NSW Gambling Survey 2019, released by the NSW government after being commissioned by the Responsible Gambling Fund, found that 53% of the adult population gambled over the past 12 months – down from 65% in 2011.The survey of 10,000 people also found that the rate of problem gambling in NSW has remained relatively stable since 2011, edging up from 0.8% to 1%. However, when respondents were assessed against the Problem Gambling Severity Index, it was estimated that 7.2% of the public are, at the least, at a moderate risk of problem gambling.The results also showed that gambling problems are more prevalent amongst younger people. Gamblers aged between 18 and 24 were most likely to be at moderate risk or problem gamblers, with a total of 14.9% falling into those categories, in comparison with the 7.2% overall figure.The study added that those who experience gambling problems are generally more likely to be single, unemployed, indigenous, male, living in rental accommodation, living in a low socioeconomic area and to draw their income from welfare payments.The government said that it has allocated A$35m (£18.6m/€21.6m/$24.1m) to responsible gambling programmes in its 2019-20 budget.The survey also found that lotteries were the most common form of gambling, followed by gaming machines, instant scratch cards and race betting, while 8% had gambled online in the past year with race betting being the most common form of online gambling.A total of A$9.53bn was spent on gambling in the state in 2016-17, the survey added, with A$976m splashed out on racing, $152m spent on sports betting and $8.4bn on gaming. A total of 73% of gambling expenditure in the state was on gaming machines.“The NSW government is committed to preventing and minimising gambling harm,” the state government said. “The information gathered from this survey will inform prevention, education and treatment initiatives, as well as policy development and regulatory efforts.”In July, the government set out plans to review its existing responsible gambling measures. The findings of the review, supported by research from Central Queensland University, will be published next year.To read the survey’s key findings, click here. Topics: Legal & compliancelast_img read more

Indiana sports betting revenue up to $11.5m in October

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Licensed operators in Indiana generated $11.5m (£ in adjusted gross revenue from sports betting in October, while the handle for the state’s market increased rose to $91.7m.Adjusted gross revenue was up 33.7% month-on-month from $8.6m in September, the first full month of legal wagering in the state.The Penn National Gaming-run Ameristar Casino was the market leader by some margin, generating $5.0m in revenue from $46.2m in amounts wagered for October. Mobile was the main driver for Ameristar, with its DraftKings-powered sports betting platform turning revenue of $3.5m from $39.4m in wagers.Caesars Entertainment’s Horseshoe Hammond, which led the market in the first month of operations, ranked a distant second with $1.7m in revenue and handle of $10.7m, all from retail activities.Read the full story on iGB North America.Image: Kevin Stephenson 11th November 2019 | By contenteditor Subscribe to the iGaming newsletter Regions: US Indiana Financecenter_img Licensed operators in Indiana generated $11.5m (£9.0m/€10.4m) in adjusted gross revenue from sports betting in October, while the handle for the state’s market increased rose to $91.7m. Email Address Topics: Finance Sports betting Indiana sports betting revenue up to $11.5m in Octoberlast_img read more

Mississippi lawmaker makes new mobile betting push

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 29th January 2020 | By contenteditor Regions: US Mississippi Subscribe to the iGaming newsletter Topics: Casino & games Sports betting Horse racing Tags: Mobile OTB and Betting Shops Race Track and Racino Casino & games Email Address Mississippi Representative Cedric Burnett has resurrected a bill to legalize mobile wagering in the state, having previously seen a similar proposal die without progressing to a committee hearing in 2019.  Mississippi lawmaker makes new mobile betting push Mississippi Representative Cedric Burnett has resurrected a bill to legalize mobile wagering in the state, having previously seen a similar proposal die without progressing to a committee hearing in 2019. Burnett’s House Bill 172 aims to revise the state Gaming Control Act’s definition of a sports pool, and to define a platform as a person or entity that operates a sports pool or racebook over the internet. While the Act currently states that wagers may only be placed by individuals present on a licensed vessel or cruise vessel, this would be changed to allow betting via approved platforms. These platforms, provided they are licensed as a distributor by the Mississippi Gaming Commission, could be operated on behalf of a bricks-and-mortar sports betting licensee. The current $500 fee for a seller’s license would also apply to to distributors, with a further $500 payable to renew the certification.Sports betting revenue exceeding $134,0000, that is generated through online and mobile platforms, would be subject to a 6% gross revenue tax, in addition to the 8% tax on all other revenue.Read the full story on iGB North America.last_img read more

Catena Media names Messner as new financial chief

first_img Catena Media names Messner as new financial chief 10th March 2020 | By contenteditor Affiliate marketing giant Catena Media has appointed Peter Messner as its new group chief financial officer, with effect from 1 April. Tags: Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Peoplecenter_img Topics: People Strategy Subscribe to the iGaming newsletter Affiliate marketing giant Catena Media has appointed Peter Messner as its new group chief financial officer, with effect from 1 April.Messner joins Catena having most recently served as CFO of Swedish media giant Modern Times Group’s esports-focused subsidiary MTGx. Prior to this, he also spent time in senior roles with poker network Ongame  and and its one-time parent company, bwin Interactive Entertainment.Upon becoming CFO at Catena next month, Messner will replace Erik Edeen, who had been serving as interim group CFO. During his time in the role, Edeen is credited with rebuilding and transforming Catena’s entire financial structure.After stepping down from the position, Edeen will continue to support Catena in strategic projects for the foreseeable future.“With a well-functioning financial infrastructure in place, due to Erik’s contributions, our playing field is now ready to welcome Peter as CFO,” Catena chief executive Per Hellberg said.“His wide-ranging experience in key online media and gaming industries will fortify Catena Media’s operations in the years to come.”The appointment comes after Catena last month reported a full-year loss of €10.5m (£9.1m/$11.9m) for 2019, mainly due to impairment charges related to assets acquired between 2016 and 2018.Revenue for the 12-month period through to 31 December 2019 amounted to €102.8m, down 2.1% from €105.0m in the previous year, as Catena revealed that all of its core business units suffered during the period. Email Addresslast_img read more

Croatian sell-off boosts Sazka’s bottom line in 2019

first_img Topics: Finance Lottery Sports betting Sazka Group has reported a 6.0% year-on-year rise in gross gaming revenue for 2019, with all subsidiaries growing during the year, while the sale of its Croatian subsidiary has more than doubled net profit for the period. 30th April 2020 | By contenteditor Regions: Europe Central and Eastern Europe Southern Europe Western Europe Czech Republic Croatia Greece Italy Austria Sazka Group has reported a 6.0% year-on-year rise in gross gaming revenue for 2019, with all subsidiaries growing during the year, while the sale of its Croatian subsidiary has more than doubled net profit for the period.Amounts wagered across all brands and markets rose 5.0% to €5.46bn (£4.76bn/$5.94bn), which after winnings paid out to customers left revenue of €1.91bn.The vast majority of this total came from lotteries, which accounted for €968.4m of GGR, up marginally from 2018, with an additional €211.4m coming from instant win games. Video lottery terminal revenue grew 42.7% to €297.7m, and digital gaming revenue soared from €8.2m in 2018 to €25.7m. Sports betting revenue, on the other hand, was down 2.2% at €402.9m.After lottery taxes of €595.0m, up 5.2%, net gaming revenue for 2019 was up 6.3% at €1.31bn.The bulk of net revenue came from Greece’s OPAP, in which Sazka increased its stake to 40.0% in November 2019, with the business reporting a 4.4% increase in 2019, to €1.09bn.Casinos Austria followed, with revenue up 2.0% to €719m. Sazka also increased its stake in the business in 2019, striking a deal to acquire Novomatic’s 17.9% stake in December 2019. Following the end of the reporting period, in March this year, it then agreed a deal to jointly control the business, in partnerships Austrian state investments body Österreichische Beteiligungs (ÖBAG).Italian lottery business Lottoitalia followed, with revenue rising 1.7% to €489m, and Sazka – the Czech state lottery operator after which the group is named – saw net gaming revenue grow 13.5% to €219m.“2019 was another very strong year for the group,” Sazka chief executive Robert Chvatal commented. “Apart from the outstanding organic growth and increased profitability across all our markets, we have taken a number of important strategic steps.“In particular, we increased our ownership of OPAP through the voluntary tender offer and have taken significant steps towards a majority shareholding position in [Casinos Austria] by reaching an agreement to acquire a stake of up to 17.2% from Novomatic (subject to various conditions precedent).”Sazka also sold its stake in Croatian operator SuperSport in May 2019, for a total consideration of €302.6m, while the investment body behind the business, KKCG, also bought out Emma Capital’s stake in the business to become its sole owner.The business made a further €147.3m from the sale of goods and services and recorded €12.5m in other operating income.Turning to costs, Sazka paid out €419.8m, up 2.0%, with spending on materials, consumables and services rising to €330.2m. Marketing costs also rose marginally to €92.4m, with personnel expenses growing 8.3% to €106.1m, and other operating expenses coming in at €50.6m.Sazka also saw its share of profit from investments climb to €120.4m, resulting in earnings before interest, tax, depreciation and amortisation (EBITDA) rising 16.6% to €592.3m. After depreciation and amortisation charges of €121.6m (up 2.9%), operating profit was up 20.8% year-on-year to €470.6m.Finance costs rose 47.7% to €113.0m, leaving a pre-tax profit of €357.6m, and after income tax of €46.3m, net profit from continuing operations amounted to €311.4m (up 35.3%).However, Sazka’s bottom line was significantly boosted by gains from the disposals of the Croatian subsidiary, which added €277.3m to the group’s net profit. A further €15.6m was gained in profit from this discontinued operation, resulting in profit after tax more than doubling to €604.2m. Email Address Tags: Mobile Online Gambling Finance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Croatian sell-off boosts Sazka’s bottom line in 2019last_img read more

Kambi H1 revenue stable despite Q2 decline

first_imgSports betting Tags: Online Gambling Kambi H1 revenue stable despite Q2 decline Sports betting supplier Kambi’s revenue for the first half of 2020 ticked slightly upward to €42.7m in the first half of 2020, despite second-quarter revenue declining 31.6% to €14.8m. Subscribe to the iGaming newsletter Topics: Sports betting Tech & innovationcenter_img AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 24th July 2020 | By Daniel O’Boyle Sports betting supplier Kambi’s revenue for the first half of 2020 ticked slightly upward to €42.7m (£38.9m/$49.5m) in the first half of 2020, despite second-quarter revenue declining 31.6% to €14.8m.Of Kambi’s €14.8m in revenue for the quarter, €11.0m came from regulated markets. Although this represented a decline in raw numbers, it was an increase as a percentage of Kambi’s overall revenue, from 71% to 74%. Kambi’s revenue from Europe came to €10.8m, representing a decline from a 77% share of revenue to a 73% share.The supplier did not reveal its operators’ turnover levels, but said that this declined 33% while operator trading margin came to 8.2%.Kambi chief executive Kristian Nylén said that not only was he impressed by the fact that revenue did not decline too drastically after the almost complete stoppage of global sports, but also that operator turnover grew-year-on-year in June. June also generated 47% of the quarter’s operator turnover, while 33% occured in May and just 20% in April.“Given the impact the pandemic is having on the sporting calendar, to generate 68% of the revenues of the comparative quarter last year is a great achievement,” Nylén said. “Furthermore, operator turnover accelerated through the period, finishing with year-on-year growth for June, which tells me we are on the right track as a business and well positioned for the second half of 2020 and beyond.”Nylén added that golf and UFC proved to be especially successful sports for Kambi during the quarter.Kambi’s operating expenses, however, were greater than revenue, declining only 4.5% to €18.1m. The largest expense was staff costs, which ticked down 0.2% to €8.6m. Amortisation costs, meanwhile, grew 29.8% to €3.0m while data supplier costs rost 5.9% to €2.0m.Other operating expenses, meanwhile, fell 27.8% to €4.5m.These costs created an operating loss of €3.4m, compared to a €2.5m profit in the second quarter of 2019.After a €157,000 net financial loss, Kambi made a pre-tax loss of €3.5m, compared to a €2.4m profit the year prior. After paying €466,000 in taxes, Kambi made a loss of €3.0m, after a €1.6m profit in 2019.Following currency adjustments, Kambi’s loss for the quarter came to €2.9m, compared to a €921,000 profit in 2019.For the first half of 2020, however, Kambi’s profit of €42.7m was 0.1% higher than its profit in the first half of 2019.Operating expenses, however, grew 4.5% to €39.2m. Of these expenses, staff costs grew 12.7% to €19.1m, amortisation costs grew 29.0% to €5.9m, data suppliercosts grew 21.7% to €4.7m and other operating expenses declined 21.4% to €9.5m.These costs led to an operating profit of €3.5m, down 32.3%. After financial costs of €326,000, Kambi’s profit before items affecting comparability came to €3.2m, down 65.1%.The business incurred an additional, nonrecurring €590,000 cost in bad debts related to Bulgarian operator National Lottery AD, which had its licence revoked by the Bulgarian State Gambling Commission in March over unpaid taxes as its owner Vasil Bozhkov found himself in legal trouble.This led to a pre-tax profit of €2.6m, down 47.0% year-on-year. After paying income taxes of €851,000, Kambi’s profit came to €1.7m, down 51.6%.Kambi made a loss of a further €1m through currency translation adjustments, leaving it with a profit of €722,000 for the half, down 74.3%.Nylén added that while revenue was obviously below start-of-year expectations, he was proud of how they showed Kambi’s ability to handle adversity.“Of course, the financial numbers published today aren’t as I would have hoped back when we were planning for 2020, but they do reflect a business able to deliver when faced with both adversity and uncertainty,” Kambi said.Yesterday (July 23), Kambi and high-profile client US sports betting giant DraftKings, announced that they have reached an agreement to cooperate on DraftKings’ planned migration from Kambi’s back-end platform services to SBTech’s platform, with DraftKings and Kambi agreeing a termination date of 30 September, 2021 for their partnership. DraftKings agreed to merge with SBTech, spelling the end of its Kambi partnership, in December 2019, with the deal closing in April.Kambi will receive full revenue until the date of termination.Today (24 July), Unibet operator Kindred Group, from which Kambi was spun off, reported a year-on-year rise in revenue during the first half of the year. Kindred said that this rise was down positive performances across a number of markets, as well as its ongoing focus on product differentiation. Email Addresslast_img read more

Higher spending pushes profit down at Raketech in first half

first_img Higher spending pushes profit down at Raketech in first half Subscribe to the iGaming newsletter Online affiliate and content marketing provider Raketech has reported a 64.0% year-on-year decline in net profit for the first half of the year, after an increase in revenue was offset by a rise in operating costs. Finance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Online affiliate and content marketing provider Raketech has reported a 64.0% year-on-year decline in net profit for the first half of the year, after an increase in revenue was offset by a rise in operating costs.Revenue in the six months to 30 June amounted to £13.6m (€15.1m/$18.0m), up 12.0% from €12.1m in the same period last year.Raketech put this increase down partly to the performance of its Casumba online casino brand – purchased in September 2019 – as well as the impact of the newly acquired Lead Republik, the data-driven igaming affiliate network bought in March this year.Revenue share agreements accounted for 46.4% of total revenue in the first half, ahead of upfront payments on 39.9% and fixed fees at 13.7%.Casino was by far the main source of income, accounting for 83.8% of revenue, up from 69.9% last year. Sports betting share fell from 26.2% to 12.1% as Raketech felt the impact of the cancellation of sports fixtures due to the novel coronavirus (Covid-19) pandemic, while other revenue made up the remaining 4.1%.Looking at geographical performance, and the Nordics remained the core market for Raketech, though revenue share in the region fell from 95.8% of revenue in H1 of 2019 to 84.1% this year. In contrast, the percentage of revenue from other markets jumped from just 4.2% to 15.9%.However, despite the increase in revenue, Raketech also saw a rise in operating expenses, which grew 45.6% year-on-year to €10.7m, as costs climbed across the business.Direct expenses were up by 84.2% to €3.5m due to increased efforts within paid media, primarily through Lead Republik and the Rapidi white label casino. Staff benefit expenses also increased 22.7% to €2.7m, driven by the addition of senior management and other new staff to the Raketech team.Other expenses jumped 38.5% to €1.8m on the back of the acquisition of Lead Republik and Casumba, while depreciation and amortisation costs were also up 62.5% to €2.6m.As to how this impacted earnings for the period, Raketech said reported earnings before interest, tax, depreciation and amortisation (EBITDA) fell 14.1% year-on-year to €5.5m.Operating profit was down 39.4% to €2.9m, and after accounting for €452,000 in finance costs, this left the provider with a profit before tax of €2.4m, down 62.8% from €6.6m at the same point in 2019.Raketech paid €157,000 in tax during the first half, which meant the provider ended the half with €2.3m in comprehensive profit, 64.0% lower than €6.4m at the same point last year.However, despite the drop in profit, chief executive Oskar Mühlbach hailed the first-half performance, especially as Raketech was able to increase revenue despite the disruption caused by Covid-19.Mühlbach added that such was the success of staff working remotely, Raketech will now move to a flexible working setup, which will replace the traditional office with a “dynamic interaction hub combined with remote work”.“Working remotely during Covid-19 has in contrast to what one might believe, proven to be very efficient for us and we have been able to notice improvements with regards to cooperation, communication as well as performance management,” he said.“In addition to spending less on office related costs and administration the concept allows us to quickly scale up and down according to what is best at every given situation. It also allows us to attract unique top talents, sometimes only available from outside of Malta.”Focusing on Raketech’s performance in the second quarter, when the pandemic was at its peak in many of the provider’s key markets, revenue was up 24.1% to €7.0m, again boosted by the Casumba and Lead Republik operations.However, operating expenses were up 49.5% to €5.5m, which in turn pushed operating profit down 22.8% to €1.5m and EBITDA 3.5% to €2.8m.Profit before tax fell 25.9% to €1.3m, and after Raketech paid €82,000, this left it with €1.2m in comprehensive profit, representing a year-on-year decline of 26.9%.In terms of current and future performance, revenue in July amounted to €2.4m, despite sports still trailing behind due to Covid-19. However, Raketech said that despite revenue outside the Nordics increasing 20%, volatility in Sweden due to the new regulations related to Covid-19 makes it challenging to navigate.“The unpredictability mentioned in the previous report is still very much present even though dependency on this market is lower,” Mühlbach said. “Depending on the market development on our existing markets, it is worth mentioning that our US organic investments could have a slightly negative effect on our margins in the short- to mid-term.“Although volatility might be high, I am excited by the combination of Raketech being both debt free and operationally stronger than ever. This allows us to continue our efforts to deliver on our strategic goals within product development and diversification as well as geographical expansion, organically and through M&A.”center_img Topics: Finance Marketing & affiliates Tags: Online Gambling Email Address 19th August 2020 | By contenteditorlast_img read more