Better Collective Q3 revenue up as non-affiliate income offsets low margins

Better Collective Q3 revenue up as non-affiliate income offsets low margins

Affiliate Better Collective’s revenue grew 7.1% to €18.3m (£16.3m/$21.6m) and profit was up almost 50% to €4.9m as non-affiliate revenue sources such as subscriptions helped ensure growth even as low margins led to revenue from affiliation ticking down.

Published 11th November 2020

Revenue share affiliation was the largest source of Better Collective’s revenue, bringing in €11.8m, down 0.2% year-on-year.

The business said it saw record wagering activity on its revenue share accounts, but as most of this betting was low-margin, the amount distributed to Better Collective slightly declined, and added that it would have made an additional €2m had margins been at average levels.

“After a couple of months significantly impacted by cancellations and postponements, we are excited to see activity back at “pre-Covid levels, even though almost half of Q3 was less active because of changes to sports calendars implying a later start of the major leagues than usual,” Better Collective chief executive Jesper Søgaard said.

Cost-per-acquisition affiliation brought in a further €2.5m, up 0.5%.

However, while these remained the two largest sources of revenue, their share of the group’s overall revenue declined non-affiliate sources became more prominent.

Read the full story on iGB.

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