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The gaming industry in Western Europe and the U.S. continues to evolve, with casino and sports betting revenues showing significant growth trends year-on-year (YoY). The recently released winter edition of MECN’s Online Gambling Quarterly examines the revenue developments for Q3 2024, comparing them to Q3 2023 and Q2 2024, highlighting key players and regional performances. Here, we’ll take a closer look at the top five scorers from each category.
The sports betting sector demonstrated robust growth YoY, with an average increase of 10 percent and a median growth of 9 percent. Leading the pack was Flutter US, which saw an impressive 62 percent surge in revenue. Caesars Digital and Flutter International followed closely with growth rates of 33 percent and 31 percent, respectively. Spain’s total sports betting revenue, as reported by DGOJ, grew by 19 percent, while Kindred reported a 12 percent increase.
In contrast, the QoQ comparison revealed a downturn, with an average decline of 17 percent and a median drop of 20 percent. Despite this overall negative trend, Caesars Digital managed a positive growth of 11 percent. However, other major players like PointsBet non-US, Spain total (DGOJ), Betsson, and Evoke International experienced declines of 6 percent, 7 percent, 13 percent, and 14 percent, respectively.
The casino sector outperformed sports betting in YoY growth, boasting an average increase of 24 percent and a median growth of 15 percent. Bet-at-home led the charge with a substantial 103 percent rise in revenue which comes on the back of successful marketing investments and reduced expenses due to more streamlined operations.
Caesars Digital and PointsBet non-US also reported significant growth rates of 75 percent and 53 percent, respectively. Flutter US, Betway, and Flutter UK & Ireland followed with increases of 46 percent, 32 percent, and 29 percent. Betsson and SuperGroup ex-US reported more modest growth rates of 22 percent and 18 percent, while Spain total (DGOJ) saw a 17 percent rise.
The QoQ analysis for casino revenues showed a positive trend, with an average growth of 4.8 percent and a median increase of 5 percent. PointsBet non-US led with a 21 percent rise, followed by Caesars Digital at 15 percent. Evoke International, Betsson, Spain total (DGOJ), and Betway also reported growth rates of 13 percent, 10 percent, 9 percent, and 8 percent, respectively.
During the penultimate quarter of 2024, the iGaming industry saw a mixed performance across sports betting and casino revenues. While sports betting experienced a YoY growth, it faced a QoQ decline which could be attributed to seasonal fluctuations and the aftermath of significant sporting events that may have inflated previous quarters’ revenues. Conversely, the casino sector demonstrated consistent growth both YoY and QoQ, highlighting its resilience and expanding market share.
Key players like Flutter US and Caesars Digital continue to dominate, with significant contributions to overall revenue growth. Regional performances, particularly in Spain, also highlighted the importance of localised strategies in driving revenue. As the industry moves forward, understanding these trends will help operators navigate the competitive landscape and capitalise on emerging opportunities.
MECN is a research company specialising in data-driven industry reports and trade magazines, with a focus on TME, gambling, and travel & leisure. Founded by former BCG consultants, they draw on over 15 years of experience and a network of 40+ experts to provide clear, actionable insights based on rigorous data analysis.