Betsson Posts Record Q2 Revenue as Regulated Costs Rise
Betsson Reports Record $361 Million Q2 Revenue – Higher Regulated Market Share Weighs on Profit
Key Takeaways
- Betsson reported record second quarter revenue of $361 million, driven by strong growth in Latin America and FIFA World Cup betting activity.
- Latin America revenue rose 32.3 percent and accounted for 36 percent of total group revenue, becoming the company’s largest region.
- The share of revenue from regulated markets increased to 75.5 percent, resulting in higher gaming taxes and payment fees.
- EBITDA fell 30.5 percent to €58.5 million, while net income declined 38.2 percent to €30.4 million.
- Betsson secured a new sportsbook licence in Santa Fe, Argentina, with a launch planned for the fourth quarter.
Revenue Reaches Record Level in Second Quarter
Betsson generated record revenue of $361 million in the second quarter of 2026. The increase was primarily supported by strong performance in Latin America and heightened betting activity linked to the FIFA World Cup.
According to CEO Pontus Lindwall, growth in Latin America remained the main driver. Revenue from the region climbed 32.3 percent year on year and reached new record levels. Latin America now represents 36 percent of total group revenue, making it Betsson’s largest geographic market.
Argentina, Peru and Colombia each delivered record quarters. The company attributed the performance to increased customer activity and marketing efforts tied to the World Cup. Lindwall stated that the tournament contributed to high engagement among both new and existing customers.
Western Europe also recorded a quarterly revenue high of €64.2 million, led by Italy. In contrast, revenue in the Nordic region fell 17.1 percent. The decline followed reduced marketing spending in Sweden and Denmark.
Higher Share of Regulated Markets Increases Cost Base
During the quarter, 75.5 percent of Betsson’s revenue came from locally regulated markets, up from 65.7 percent in the same period a year earlier. While this shift reflects a broader presence in licensed jurisdictions, it also led to higher operating costs.
Lindwall identified increased gaming taxes and payment fees as key reasons for lower profitability compared with the second quarter of 2025. The company reported that the greater share of regulated revenue had a direct impact on margins.
EBITDA decreased 30.5 percent to €58.5 million. Net income fell 38.2 percent to €30.4 million. The earnings decline occurred despite record top line revenue, underlining the financial effect of higher taxation and regulatory costs.
In addition, B2B licence revenue dropped significantly. Revenue from this segment declined from €75.6 million to €49.1 million, mainly due to reduced activity from one major customer. The lower B2B contribution further affected overall profitability.
Casino Remains Core Product While Sportsbook Stays Stable
Casino continued to account for the largest share of group revenue. The segment generated €217.6 million in the second quarter, representing 70 percent of total revenue.
Sportsbook revenue remained broadly flat at €91.3 million. Ahead of the FIFA World Cup, Betsson increased sportsbook capacity to handle up to five times normal traffic levels. The company also introduced new features, including Goal Rush and Super Sub.
Lindwall described the sportsbook’s technical performance during the tournament as satisfactory. He noted that user experience enhancements were implemented to make it easier for customers to find betting options.
For the period from July 1 through July 13, average daily revenue was 13.7 percent higher than the average daily revenue recorded in the third quarter of 2025. The company stated that the World Cup provided a solid start to the third quarter.
Expansion in Argentina and New Credit Facility
Betsson secured a new sportsbook licence in the province of Santa Fe, Argentina. The company plans to launch operations in the fourth quarter. The licence adds to Betsson’s existing presence in Latin America, which has become its most significant revenue region.
To support potential strategic moves, Betsson also arranged a new €75 million credit facility. The company indicated that the facility may be used for possible acquisitions. No specific targets were disclosed.
The combination of geographic expansion and additional financing capacity signals continued operational activity in regulated markets, particularly in Latin America.
Our Assessment
Betsson’s second quarter results show record revenue driven by Latin American growth and World Cup betting activity. At the same time, the higher share of revenue from regulated markets increased gaming taxes and payment fees, contributing to lower EBITDA and net income. Casino remains the dominant product segment, while sportsbook performance was stable during a period of elevated global football activity. The newly secured licence in Santa Fe and the €75 million credit facility indicate ongoing expansion efforts within regulated jurisdictions.
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