Publishing its interim report for Q3 and the year to date, leading online betting affiliate Better Collective reported a 68 per cent year-on-year growth in Q3 revenues – and outlined its prospects across Europe.
Third-quarter earnings (EBITA) grew similarly, rising 69 per cent to €4.7m in the three-month period.
For the online casino sector, the interim report included some interesting observations on a number of European markets.
Of Germany, Better Collective said: “There are currently regional inconsistencies in how the laws are enforced which currently creates a ‘regulatory limbo’.
“As the situation seems unsustainable, we expect the German casino market to re-regulate at some point and become a key market. Better Collective’s current exposure to online casino in Germany is limited, while holding a strong position within sports betting.”
The company said it considers sports betting in Germany as a regulated market where there might be a future framework with more operators present.
Regarding the prospective ban on gambling advertising in Italy. Better Collective said it is “currently uncertain” what this will entail.
“Better Collective’s current exposure in Italy is limited, so no immediate effects are expected,” the company said.
On January 1, 2019, new regulation will come into place in Sweden, with taxation on gambling at 18 per cent. Better Collective said that, like in Italy, current exposure in Sweden is limited, “so no immediate effects are expected”.
“However, a change in market dynamics is to be expected, which we believe will fuel a growing market, and we consider Sweden as one of the most interesting markets for online sports betting in Europe.”
Better Collective also cites “limited exposure” in the UK, where Remote Gaming Duty will increase from 15 per cent to 21 per cent, whereas taxation on betting remains unchanged.
“The vast majority of the company’s revenue from UK is coming from sports betting, so the increased taxation on online casino will expectedly only have little impact.”