Bet-at-home expects positive fiscal year 2020

26 Jan 2021

bet-at-homeBet-at-home, Betclic Everest subsidiary, has raised its earnings estimates for 2020 to €30.9m, following a very positive fourth quarter (Q4).

The (EBITDA) target for 2020, which was set between €23m and €27m, has been exceeded. The bookmaker is now expecting an amount around €30.9m. This surplus was mostly due to the company's performance in the fourth quarter of the year and the reduced expenses, as revenue remained within the range of expectations. The renowned bookie brought in revenue of €126.9m.

In the first half of 2020, Bet-at-home brought in €62.3m in revenue; down 12.4% year-on-year (YOY). The 3rd quarter (Q3) followed with revenue of €30.7m, raising its gross betting and gaming revenue for the first nine months of the year to €93.0m.

A positive addition beyond the unexpected good financial year was that Bet-at-home received a license to operate under Germany’s Third State Treaty on Gambling, alongside 15 other sportsbooks.

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Bet-at-home is a well-established bookmaker, with a vast presence in Central Europe since 1999. The acquisition of the brand from the Betclic group brought the opening to the UK market and now it has a strong footprint on the most strategic regulated markets. That doesn’t mean of course that we are in awe with the Austrian sportsbook. The site is a little bit outdated, but at least the mobile apps are functional. I find the odds on the top leagues just likable, they are better than Bwin’s, but worse than Bet365’s. The extra features (Multiway bet, 1-click bet) give the players a better betting experience and the fact you can try out the sportsbook before you register is innovative. On the downsides, the low overall payout compared to the competition, the fees on withdrawals and the 10-second bet acceptance on live betting, make me have second thoughts. Bet-at-home is a mediocre second rate sportsbook that hasn’t improved a lot throughout the years. However, it is classified as a stable and safe bookmaker to place your bets.

 

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