Better Collective has posted an 18% drop in revenue for the second quarter of this year, although the Danish-based gambling affiliate has said that was in line with its expectations.
In its financial report for Q2 2025, Better Collective recorded revenue of €82 million ($95.5 million), an 18% decline when compared with the £97 million generated in the same period last year.
Recurring revenue was €52 million, representing 64% of group revenue, while earnings before interest, taxes, depreciation, amortisation (EBITDA) and special items was down 21% to €23 million, although holding a margin of 28%.
This drop was partially offset by a range of cost-cutting measures the firm had implemented after having set a savings target of €50 million in Q3 2024.
Full-year guidance remains unchanged, with expectations of around €320 million to €350 million in revenue and €100 million to €120 million in EBITDA.
North America And Brazil Continue To Struggle
In April, the firm revealed it had embarked on what it called a ”transformative journey” to restructure its organisation and to review the way it will report its finances in future.
That followed Better Collective revealing revenue had dropped 13% in the first three months of this year.
The digital sports media group cited three primary reasons why revenues have been taking a hit:
- A swap from cost per acquisition deals to revenue-sharing models in North America.
- Changes in regulation around sports betting in Brazil which were implemented at the start of the year.
- Comparing 2025’s performance against the busy sports calendar witnessed last year, with Euro 2024 and the Copa America.
In North America, revenue was down €8 million compared to the same quarter last year, but that figure was competing with the launch of North Carolina sports betting in Q2 2024.
Revenue share income in the region actually increased by 7%.
Brazil also recorded an €8 million drop, with the new regulations in place lowering the volume of new depositing customers.
Restructure Now Complete
The organisational changes within Better Collective are now complete, allowing co-founder and co-chief executive officer Jesper Søgaard to issue an upbeat summary to the quarterly report.
“I’m pleased that our Q2 results were in line with expectations,” he said.
“The first half of the year was a transition period mainly driven by structural changes in key markets such as Brazil.
“We have completed the restructuring of our business and are ready to capture the opportunities of a sports-rich second half of the year, with preparations for the FIFA World Cup 2026 already underway.”
The Future With Esports
Just last week, Søgaard announced the firm has moved away from a geography-based structure to focus on three global business segments, esports, publishing and paid media.
That internal re-organisation will allow Better Collective to make a strategic esport push.
“We see esports as a powerful growth engine for Better Collective going forward,” Søgaard said.
“With HLTV and FUTBIN, we own two of the most respected and influential community platforms in global esports, giving us a rare opportunity to serve millions of passionate fans and grow alongside the scene.
“By establishing esports as its own segment, we sharpen our strategic focus, increase transparency, and create room to invest even faster in new features, content, and partnerships, so we can unlock the full potential of these communities.”
Jim Munro is a betting industry and gambling expert who has been a national newspaper journalist for over 30 years, predominantly at The Sunday Times and The Sun, where he wrote a weekly soccer betting column. Jim also worked on the launch of Virgin Bet with Gamesys and was subsequently head of editorial at LiveScore, the sports media and betting group.
