Betsson Revenue Rises in H1 2026 While Profits Decline Sharply

Betsson Reports Revenue Growth but Sharp Profit Decline in H1 2026 – World Cup Activity Lifts Q2 Trading

Key Takeaways

• Betsson reported total revenue of EUR 595.5m for H1 2026, with Q2 revenue reaching EUR 310.2m.
• EBITDA fell 33% year on year in H1 to EUR 108.4m, while Q2 EBITDA declined 31% to EUR 58.5m.
• Operating income dropped 43% in H1 to EUR 76.2m and 39% in Q2 to EUR 42.2m.
• Latin America recorded 32% revenue growth, supported by increased activity during the FIFA World Cup.
• Casino revenue rose 2% in H1, while sportsbook revenue increased by 1%.

Revenue Growth Continues Despite Lower Profitability

Betsson generated EUR 595.5m in total revenue during the first half of 2026. For the second quarter alone, revenue amounted to EUR 310.2m. According to the company, this represents a 5% increase compared to EUR 597.3m in H1 2025 and a 6% rise from EUR 303.7m in Q2 2025.

Despite higher revenue, profitability declined significantly. EBITDA for H1 fell 33% year on year to EUR 108.4m, compared to EUR 161.8m in the previous year. In Q2, EBITDA decreased by 31% to EUR 58.5m from EUR 84.1m.

Operating income showed a similar trend. For the first six months of the year, operating income came in at EUR 76.2m, down 43% from EUR 133m in H1 2025. In the second quarter, operating income declined 39% to EUR 42.2m from EUR 68m.

Betsson stated that while its B2C segment continued to grow, its B2B revenue remained at a lower level than the previous year. According to CEO Pontus Lindwall, this development weighed on overall profitability.

World Cup Drives Customer Activity in Q2

The FIFA World Cup, which began in June, contributed to increased activity in the second quarter. Lindwall described the period as characterized by continued healthy growth in the B2C business, positively impacted by the tournament.

The company reported that the World Cup provided a solid start to the third quarter as well. In Latin America in particular, the tournament contributed to high activity among both new and existing customers.

For users of online sportsbooks and casino platforms, major international tournaments typically translate into higher betting volumes and customer acquisition efforts. Betsson indicated that this pattern was visible across several of its key markets during Q2.

Latin America Delivers Strongest Regional Growth

Latin America remains Betsson’s largest region by revenue. In H1 2026, revenue in the region grew 32% to what the company described as record levels.

According to Betsson, the increase was broad based and further supported by the World Cup. Peru and Argentina were identified as the strongest individual markets in the region. The company attributed growth in these countries to earlier product investments, brand positioning and marketing activities linked to the tournament.

The performance in Latin America contrasts with developments in some European markets, where operators face heavier tax burdens. Betsson is exposed to taxes in the Netherlands but not in the UK or Germany, which were referenced as examples of markets with increased fiscal pressure on operators.

Italy and Casino Segment Lead European Performance

Within Western Europe, Italy played a central role in revenue growth. Chief Financial Officer Martin Ohman reported all time high revenue in Italy during the first half of the year.

Casino was the main driver in the Italian market, while sportsbook revenue was described as considerably smaller. Overall, Betsson’s casino segment increased revenue by 2% in H1, compared to 1% growth in sportsbook revenue.

Beyond Italy, the company reported positive B2C development in the Baltics, Georgia and Croatia. Increased revenue was also noted in France.

For users comparing casino and sportsbook offerings, these figures indicate that casino continues to represent a larger growth contributor for Betsson in several markets, including key European jurisdictions.

Cost Focus and Marketing Considerations

Following the decline in profitability, Betsson’s leadership emphasized operational efficiency. Lindwall stated that the group will maintain a focus on cost efficiency going forward.

During discussions with analysts, the possibility of marketing cutbacks was raised. Such measures have been observed across major betting markets as operators respond to higher tax burdens. While Betsson’s revenue increased, reduced EBITDA and operating income suggest that cost management will be central in the second half of the year.

Position on Prediction Markets

Betsson also addressed the topic of prediction markets. While the model has gained traction in the United States, the company noted that regulatory frameworks in its core markets differ.

According to Lindwall, in most markets where Betsson operates, prediction markets would fall under gaming regulations if permitted. In that case, they would not differ significantly from traditional sports betting from a regulatory perspective. The company stated that it is closely monitoring developments and user experience in this area.

For users, this means that any potential expansion into prediction style products would depend on national regulatory approaches rather than solely on commercial considerations.

Our Assessment

Betsson’s first half of 2026 shows a combination of moderate revenue growth and a substantial decline in profitability. Revenue increased in both H1 and Q2, supported by casino performance, strong growth in Latin America and elevated activity during the FIFA World Cup. At the same time, EBITDA and operating income fell sharply, with lower B2B revenue and cost pressures affecting margins. The company is focusing on cost efficiency while monitoring regulatory developments, including the potential role of prediction markets within existing gaming frameworks.