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Read Full BioDAZN Bet is expanding into North America, with the sports streaming platform obtaining a license to offer sports betting and igaming in Ontario.
The company launched its gambling arm in 2022, going live in the UK and subsequently in several other European countries, including Germany, Spain, and Italy.
Its license in Ontario marks the first entry into North America. Daniel Berthold, EVP of Growth Markets at DAZN Bet, announced plans to expand in Canada on LinkedIn last month, advertising that the company was hiring a country manager.
His post stated, “A true zero-to-one role: shape the marketing strategy, lead the team, drive growth and define how Canadian fans experience DAZN Bet from day one.
“If you have deep experience in regulated betting & gaming, love fast growth environments, and want to build something meaningful from scratch, this is it.”
Gambling Puts DAZN on Path to Profitability
With the expansion of its gambling business, DAZN is moving more towards profitability. The London-based multinational reported revenue of just under $3.2 billion last year, up 11% from $2.9 billion in 2024.
The increase in revenue cut losses from $1.4 billion in 2023 to $935.6 million in 2024. CEO Shay Segev said he believes the company will soon turn those losses into profits.
Segev stated, “We’re aiming for at least $5 billion in revenues for this year. The margins are improving, our key markets are already profitable in 2025, and we are comfortable saying that in 2026 the group will be profitable as well.”
Sports Fans Targeted By Gambling Companies
The company has invested heavily in soccer streaming rights, and Segev said it is now the world’s largest platform for the sport. It also holds the rights to the NFL in Canada.
Streaming platforms frequently rely on advertising revenue from betting companies to generate profits. In the UK, a report was published last week showing how illegal gambling platforms target illegal streams to acquire customers.
DAZN is also attempting to monetize its business through betting, albeit through legal channels. The launch of a regulated gambling market in Alberta could also be an opportunity for further expansion.
The combination of live sports and gambling does not always work out, as ESPN Bet’s failure demonstrates. DAZN believes its story will be different.
“This business has a very big potential to generate a lot of free cash. Happily, we have now reached the point. Our shareholders believe in this business. They put a lot of investment in this business,” Segev said.
