Better Collective sees revenue and profit grow in H1
Published 25th August 2020
Revenue for the six months to 30 June amounted to €36.2m (£32.6m/$42.7m), up 17.7% from €30.7m in the corresponding period last year.
Revenue share agreements accounted for 67% of Better Collective's revenue in the first half, with 16% coming from cost per acquisition (CPA) deals, 6% from subscription sales and the remaining 11% from other sources.
The group noted that the increase in total revenue came despite an 18% year-on-year decline in new depositing customers (NDCs) to more than 186,000, which it said was primarily due to Covid-19 and its impact on the sporting calendar.
According to Better Collective, the cancellation and postponements of major sports events as a result of the pandemic led to approximately 90,000 fewer NDCs during H1 2020, compared to pre-Covid-19 estimates.