World Cup wagers drive Betsson to record revenue, earnings

Swedish online gambling operator Betsson AB enjoyed the second half of the 2018 FIFA World Cup even more than the first, at least, in financial terms.

Figures released Wednesday show the Stockholm-based Betsson reporting revenue of SEK1.43b (US$156.8m) in the three months ending September 30, up 21% from the same period last year and a new company record. Earnings improved 49% to SEK424m while net income jumped 63% to SEK305m.

Sportsbook revenue improved 23% to SEK339m as turnover was up 14% and margins (after free bets) rose to 7.4%. The July portion of this summer’s World Cup football accounted for 1.8% of Betsson’s group revenue in Q3.

Casino revenue improved 22% to SEK1.06b, representing a full three-quarters of group revenue. Betsson’s ‘other products’ category reported revenue falling 37% to SEK21.6m.