Betsson reports record sales in the third quarter of 2024

The Swedish-based gaming group Betsson published its latest quarterly sales around a week ago. Compared to the previous year, turnover rose by almost a fifth. But what are the reasons and causes for Betsson's continued success?

We have already reported on the turnover of the major gambling groups several times in the past. In November 2021, for example, Betsson reported a slight increase in turnover. At the time, the company was pleased to report an increase of around 3% in its quarterly figures. A few days ago, Betsson published its latest sales figures for the third quarter (July, August, September). Compared to the previous year, an impressive increase of 17.9% was reported.

Betsson breaks through the USD 300 million mark in the third quarter

Specifically, Betsson generated total revenue of USD 302.2 million in the third quarter of 2024. This means that the gaming group, which claims to employ around 1,800 people, generated an average of over USD 100 million per month.

We reported back in March last year that Betsson had reported record revenue growth of 18% for 2022. According to this, Betsson generated total sales of around 845 million US dollars (= 777 million euros) in the 2022 financial year.

Incidentally, ‘betsson.de’ has not been available in Germany for some time. For the time being, the company has decided not to apply for a German licence from the Joint Gambling Authority of the Federal States (GGL) and has therefore withdrawn from the German online gambling market.

High customer loyalty is the reason for the pleasing turnover

Betsson itself assumes that the positive sales development is due to the high level of customer loyalty on the gambling portals. In its statement, the gaming group expressed its satisfaction with the development and growth in its core markets in Western, Central and Eastern Europe as well as Central Asia and Latin America.

Online segment is and remains Betsson's most important source of income

The mood at Betsson's headquarters must be bombastic these days. Not only did group turnover increase by almost 18%, as already described, but net profit also rose by 15% to USD 47.27 million (approx. 43.4 million euros). Casino revenue and sports betting revenue also rose by an impressive 22% and 8% respectively. Betsson was also pleased to report that the number of active customers increased by 10% to around 1.4 million. The official press release is available online in English here.

Betsson is also confident about the current quarter. The fourth quarter has already got off to a positive start, with a 14% increase in daily turnover in the first few days compared to the previous year. In addition, the last quarter of the year is traditionally the strongest in terms of turnover in the online gaming industry.

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