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Better Collective acquires leading US sports betting media platform, Action Network, for 240 mUSD

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With the acquisition of Action Network, Better Collective gains clear market leadership within sports betting media and affiliation in the US and now expects to increase its revenues in the US to more than 100 mUSD by 2022.

Sports betting media group, Better Collective, today announces that it has signed an agreement to acquire 100% of the shares in Action Network, Inc. (“Action”) for 240 mUSD (198 mEUR) on a cash and debt free basis. Founded in 2017 and launched in 2018, Action is uniquely positioned in the US market as the premium sports content and product destination for US sports bettors. A trusted source for sports fans, Action’s media platforms provide an enhanced experience for its users through original sports news content, premium insights, deep menus of odds and proprietary betting tools and data. Action’s diverse revenue model includes a rapidly-growing affiliate marketing business focused on customer acquisition for betting operators in the US as well as subscription products, anchored by Action Pro, Action Labs and Fantasy Labs.

Action continues to benefit from the expanding legal sports betting market in the US. In 2021, Action is expected to achieve revenues approaching 40 mUSD, an increase of over 100% year-on-year, while also generating positive operational earnings in 2021. As more states legalize online sports betting, the potential to further deepen and expand Action’s commercial partnerships with large US-based sportsbooks such as BetMGM, DraftKings, FanDuel and PointsBet   is significant. Action is headquartered in New York, and has approximately 100 employees.

The Transaction

The purchase price amounts to 240 mUSD (198 mEUR) on a cash and debt free basis and will be settled in a cash payment and a 12 mUSD issuance of new Better Collective (BETCO.ST) shares to Action’s management, key employees and certain other individuals. 10 mUSD of the cash payment will be paid on a deferred basis as settlement of certain existing share options in Action. The number of Better Collective shares issued will be determined by the volume-weighted BETCO.ST share price 5 trading days prior to the date of this announcement. Further, the issued Better Collective shares will be subject to a lock-up of between 6 and 24 months following completion of the transaction.

The cash component of the purchase price will be provided through bank financing.

The acquisition is subject to customary regulatory approvals and is expected to be completed in Q2 2021.

Better Collective in the US 
While the US sports betting market has grown rapidly since the repeal of the Professional and Amateur Sports Protection Act (PASPA) removed a federal ban on online gambling, only 13 states have legalized online gambling at this point. Many more are expected to follow in the coming years, with the addressable market significantly expanding as a result. Total online sports betting revenues in the US are forecasted to reach 4 bnUSD in 2022 and amount to nearly 40 bnUSD in 2033*.

Following the execution of Better Collective’s acquisition strategy and ongoing investments in the US market, Better Collective’s US business has developed successfully, with high growth and a rapid increase in profitability. The acquisition of Action consolidates Better Collective’s leading position in the affiliate and customer delivery verticals within online sports betting, enabled through a number of strong product platforms. In light of this, and given the continued pace of new states regulating, Better Collective expects the US market to continue growing and its US revenues to surpass 100 mUSD by 2022, with positive and increasing operational earnings.

Action will become an integral part of Better Collective US and will continue to operate as a separate business unit with its current brands, management team, and employees, led by CEO Patrick Keane who will report to Group Management through US CEO, Marc Pedersen. Action will integrate with Better Collective’s current organization where relevant in order to generate efficiencies.

Jesper Søgaard, CEO of Better Collective, says:
“I am thrilled to welcome Action and its employees to Better Collective. This acquisition, which is the largest in Better Collective’s history, gives us a leading position within affiliation in the US and a strong foundation for profiting from the continuous regulation of the US betting market. We add three new, very well positioned US sports media brands to our portfolio and welcome around 100 new colleagues, together representing an invaluable pool of knowledge and expertise on the US sports betting media market. By all accounts, this is a great day for Better Collective.”

Patrick Keane, CEO of Action, says: 
“Today marks a great achievement in the history of Action. In just a few years, our team has managed to build a leading sports betting product and media business in the US market, making us attractive to a leading international player. I am thrilled about this outcome for our employees and investors and we look forward to continuing to forge great relationships with our league, media and sportsbook partners. Under Better Collective’s ownership, we become part of a company with many years of experience and all the resources necessary to further grow our position and develop our offering, to ultimately enhance the betting and entertainment experience for sports fans. We gain new colleagues, career paths and perspectives. I’m looking very much forward to the journey ahead. ”

Financial Targets
Better Collective will consolidate Action into the Better Collective Group from the time of closing. In connection with the acquisition, Better Collective is updating its Financial Targets for 2021:

  • Total group revenue is now expected to exceed 180 mEUR (previously more than 160 mEUR); and
  • Operational profit is now expected to exceed 55 mEUR (previously more than 50 mEUR).

Better Collective will share more details in connection with its Q1 2021 earnings report that will be released on May 12, 2021.

The acquisition of Action will bring Better Collective’s estimated debt leverage (Net Interest Bearing Debt/EBITDA) above the company’s financial target of <3.0. Due to Better Collective’s strong operating cash flow, the Board of Directors has decided that for the time being, it is acceptable for the company’s debt leverage to exceed the financial target of 3.0, which target remains in place for 2021. The Board will therefore decide upon any potential changes to the company’s long term capital structure in due course.

Advisors
Morgan Stanley acted as sole financial advisor, Bruun & Hjejle and GreenbergTraurig acted as legal advisors, and PwC acted as accounting and tax advisor in connection with the acquisition for Better Collective. Nordea Bank will be providing financing to facilitate the closing of the transaction.

Moelis & Company LLC acted as sole financial advisor and Venable LLP acted as legal advisor to Action. Gibson, Dunn & Crutcher LLP acted as advisors to The Chernin Group, the largest shareholder of Action.

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Affiliate Industry

AffPapa Signs Deal with SuperiorShare

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AffPapa, the ultimate platform connecting iGaming operators and affiliates, has announced the addition of SuperiorShare to its growing directory.

SuperiorShare is an affiliate Programme known for its top-tier marketing solutions. Created by former affiliates, it provides an opportunity to drive traffic to high-converting casinos, expand their reach and earn substantial revenue.

“We are thrilled to begin our partnership with AffPapa. At Superior Share, we continuously strive to align ourselves with industry leaders, and we believe that AffPapa offers an exceptional product that provides significant value to operators seeking growth and expansion opportunities,” SuperiorShare said.

By joining AffPapa’s extensive directory, SuperiorShare gets a chance to reach even more iGaming operators, creating fresh opportunities for collaboration and growth. As both companies aim to connect key players in the industry, the partnership is expected to create significant value for both affiliates and operators alike.

Yeva Avagyan, Head of Commercial at AffPapa, said: “We are excited to welcome SuperiorShare into our directory. AffPapa remains dedicated to creating meaningful connections in the iGaming business, supports growth, and ensures long-term success for both operators and affiliates. SuperiorShare’s addition is another step in strengthening this vision.”

The post AffPapa Signs Deal with SuperiorShare appeared first on European Gaming Industry News.

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What Has the Affiliate World Turned Into? The Evolution of iGaming Over the Years

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By Dima, Head of Growe Partners

If you’ve been in iGaming affiliate marketing for a while, you will agree with me that things have changed drastically. I’ve been in the industry long enough to remember when conferences felt more like circus shows than business events, traffic quality wasn’t always a priority, and short-term profits were often the main goal. But those days are long gone.

Over the last five to ten years, we’ve seen the industry mature. Flashy gimmicks have been replaced by networking, data-driven decision-making, and long-term partnerships. The game has changed — and so have the rules for success.

From Wild Shows to Professionalism: The Evolution of Industry Events

I remember my first industry events — let’s just say, they were memorable. We’re talking about conferences where organizers brought in wild animals, eccentric performers, and over-the-top entertainment to grab attention. And, honestly, back then, it worked. The industry was still finding its feet, and the focus was more on making noise than making deals.

But if you walk into an iGaming event today, the atmosphere is completely different. The focus has shifted towards high-quality networking, serious business discussions, and insightful panels. Operators, affiliates, and service providers are no longer looking for a spectacle — they want valuable conversations, real partnerships, and data that can help them scale. This shift isn’t just anecdotal; attendance data from major events like iGB Affiliate London and ICE reflects this new industry mindset. 

To put the tendencies in the niche perfectly: “The days of pure entertainment are over. Now, events are about meeting the right people, discussing market trends, and sharing insights that actually drive business forward. Everyone wants to learn, not just party.”

This change also reflects growing competition. The industry has matured, and operators expect affiliates to be strategic business partners rather than opportunistic traffic sources. As a result, industry gatherings now prioritize collaboration over spectacle, allowing attendees to gain actionable insights and form meaningful business relationships.

The End of “Quick Wins” and the Rise of Long-Term Partnerships

A decade ago, the affiliate model was simple: drive traffic as fast as possible, cash out, and move on. High churn rates weren’t a problem, and long-term value (LTV) was barely part of the conversation. The goal was short-term profit.

Now, that approach just doesn’t work anymore. Operators have become much more selective. They want affiliates who bring in high-quality players, not just a flood of short-term sign-ups. Retention has become just as important as acquisition, and brands want partners who can deliver sustainable results. Recent trends indicate that operators are increasingly focusing on retention strategies to maintain player engagement and profitability. 

Some affiliates have completely overhauled their strategies, moving towards content-driven approaches, CRM integration, and player engagement tactics. Email marketing, push notifications, and tailored offers are now essential tools in the affiliate playbook. The shift to lifetime value-driven metrics means that affiliates must analyze data, optimize player journeys, and work closely with operators to maintain long-term profitability.

Raising the Bar: Quality Traffic Is Now the Standard

It’s not just about partnerships — the standards for traffic quality have skyrocketed. Years ago, some affiliates could get away with gray-hat methods: things like incentivized traffic, bots, or misleading promotions.

Not anymore. Operators are demanding transparency and engagement metrics that actually matter. They want players who deposit, play, and stick around, not just one-time sign-ups. 

“We’ve seen a massive shift in traffic evaluation. If your players aren’t engaging, operators will cut you off. There’s no room for low-quality traffic anymore,” commented Mykyta, Head Of Affiliates at Growe Partners. “Everyone is focused on LTV now, and if your traffic isn’t bringing in valuable players, you’re going to struggle to find good deals.”

This heightened scrutiny has led to the decline of black-hat techniques and a greater emphasis on compliance and ethical marketing. Affiliates now invest in data analytics to monitor traffic quality and ensure alignment with operators’ expectations. Some are even forming exclusive partnerships with brands to ensure traffic consistency and build a reputation for delivering high-value players.

The Mobile-First Revolution: Adapting to the New Reality

Ten years ago, desktop traffic dominated. Most players signed up through websites, and mobile gambling was still a niche.

Fast forward to today — mobile is everything. The majority of players now deposit, bet, and interact with brands directly from their phones. Recent studies show that mobile devices account for over 70% of global online gambling revenue, with mobile gambling projected to grow at a CAGR of 11.5% over the next five years. 

One thing is clear: if your website, funnels, and marketing strategies aren’t optimized for mobile-first, you’re losing a massive percentage of potential players. Affiliates have had to rethink everything, from ad placements and UX design to the way they track and analyze player behavior across different devices.

AI and Automation: The Affiliate Game-Changer

One of the biggest shifts I’ve seen is how much AI has changed our approach to marketing. Years ago, affiliate marketing was all about manual testing — setting up campaigns, running A/B tests, and figuring things out through trial and error.

Now, AI-driven tools handle campaign optimization, ad targeting, and even content creation. AI can analyze thousands of data points in real-time, adjusting campaigns to find the most profitable audience segments. According to a 2023 report from McKinsey, AI-driven marketing strategies have increased conversion rates by up to 35% for affiliates who integrate them effectively. 

“AI isn’t replacing affiliates — it’s giving them the tools to work smarter and make better decisions,” said Anna-Mariia, Affiliate Team Lead at Growe Partners . “Today, AI can generate ad creatives, predict user behavior, and even automate entire campaigns. The affiliates who are leveraging these tools are gaining a huge competitive advantage.”

New Markets, New Opportunities: The Rise of LATAM

One of the biggest industry shifts in recent years has been the explosive growth of Latin America (LATAM). Markets like Argentina, Chile, and Mexico have become prime territories for iGaming, offering huge potential for affiliates who know how to localize their approach. Market data shows that LATAM’s iGaming sector is growing at an annual rate of 20%, outpacing most European markets. 

Chile and Argentina, which we are actively working with, have emerged as some of the most promising markets in Latin America. As iGaming adoption continues to rise, these countries present significant opportunities for affiliates who can adapt to local regulatory requirements and cultural preferences. And, of course, affiliates who understand regional payment preferences, player behavior, and localized marketing strategies will have a clear advantage over those applying a one-size-fits-all approach.

What To Expect Next?

Looking back at how the industry has evolved, one thing is clear: affiliate marketing isn’t as easy as it used to be, but it’s more rewarding than ever. The days of quick wins and shady tactics are over. Success now requires long-term thinking, high-quality traffic, and strategic partnerships. Affiliates who embrace AI, mobile-first strategies, and new markets like LATAM will be the ones leading the next decade of growth. The affiliate world has changed, but for those willing to adapt, the opportunities are bigger than ever.

The post What Has the Affiliate World Turned Into? The Evolution of iGaming Over the Years appeared first on European Gaming Industry News.

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Affiliates in the US Sports Betting Market – Has The Game Gone Cold?

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A lot has changed since the US Supreme Court struck down PASPA (The Professional and Amateur Sports Protection Act of 1992) as being unconstitutional, effectively ending Nevada’s near-monopoly on sports betting in the country. With every US state now free to legalize and launch its own sports betting market, in-person, online, and mobile sports betting grew at a neck-breaking pace.

This explosive growth saw the emergence of ‘affiliate companies’ – marketing agencies specializing in performance marketing and promoting licensed sports betting operators. However, as the market entered a new phase and growth slowed, some affiliates have been seeing mixed results in the past year.

We sat down for a chat with Shmulik Segal, Founder and CEO of Media Troopers, an advertising agency specializing in sports betting and iGaming in North America, to hear his views on the gambling marketplace and what the future holds for affiliates. Segal takes a realistic approach and acknowledges the days of insatiable growth are gone, but he still sees great potential in the market.

 

Looking at the bigger picture, how bad were things for affiliates in the past year?

Segal: “I won’t tell you the past year hasn’t been challenging for marketing agencies like ourselves. Looking at 2024 earning reports of publicly traded marketing agencies in the gambling industry, the results are a mixed bag, Segal says. “While some of the largest players in the space saw their US revenues drop by over a third compared to 2023, the earnings of others just flatlined.”

 

What causes you to be optimistic then?

“But on the flip side of the coin, there were also companies that saw double-digit growth in earnings,” Segal compares. “So what does that mixed bag of results tell us? Although the days of explosive growth are over, the market is certainly not on a one-way street. I still see tons of opportunities for companies that are adjusting and doing the right things.”

 

So what are the main challenges the affiliate market is facing?

“I can divide the challenges into two main categories: objective and subjective. Objective categories would be anything that’s ‘man-made’, such as legislation (new states that open up), increased regulation (restrictions on advertising, increased taxation), the evolution of technology (Artificial Intelligence and further mobile personalization), competition (both operators and other marketing channels and companies), and all other factors that are created by governments, companies, and individuals,” he explains.

“The subjective factors are more geographical or permanent. Let’s take sports betting as an example. According to the American Gaming Association’s state tracker, Out of 51 potential jurisdictions across the country (50 states + Washington DC), 38 have legalized sports betting. However, only seven states have legalized iGaming.”

 

So, how do you treat these challenges differently?

“As an affiliate, you understand the fundamental difference between the two types of challenges: your level of control. While you can mitigate objective challenges, you must adapt to subjective ones.”

 

How do you stay relevant as an affiliate amidst these challenges?

“The first thing we must always keep in mind is that we make a living out of providing our customers with additional value, i.e. unique knowledge and expertise that the operator doesn’t have and fits perfectly into its marketing mix. We must provide our customers with a competitive, cutting edge.”

“Case in point: we constantly strive to be ahead of the curve in everything we do. Our technology platform constantly adapts and upgrades to include more powerful AI tools for segmentation, targeting, and personalization. A huge part of our media teams’ job is to look for the ‘next big thing’ be it a fresh marketing channel or a new source that will enable us to expand our reach and tap into new markets.

Our commercial teams work closely with existing and potential operators to find new ways to bring value to players, be it new games, news, or promotions. And it goes without saying that our compliance team takes great care of ensuring we adhere to the highest standards of safe advertising and responsible gaming.”

“But no less important,“ he concludes, “is the operations team that ties all the pieces together and executes everything. That’s one of the biggest challenges, given operations can be slow-moving, we constantly need to improve our execution to keep up with the changes the other parts of the team bring.”

 

What about other types of challenges? The ones you can’t mitigate?

“When it comes to subjective challenges, however, you have much less control, and this is where companies must brace themselves and adapt quickly. Case in point, there are 38 sports betting states, while a portion of the remaining ones, such as Hawai, Utah, Texas,  and California, won’t introduce sports betting or iGaming in the foreseeable future.

 

With fewer states regulating gaming in the foreseeable future, is the market bound to shrink?

“I don’t see it that way. Long gone are the days when a new market opened every few months. What would you do? You can’t ‘magic up’ more states. But you can certainly adapt and brace yourself to improve and grow your share in existing markets, which is exactly what we are focusing on doing,” he explains. “Along with acquiring new players through new and existing markets, we are constantly looking for new channels that will bring our customers (operators) loyalty and higher lifetime value.”

 

You are talking about increasing share and value, does that mean there are no new opportunities?

“We see huge potential, with opportunities constantly coming to knock on our door. North Carolina and Vermont were the two new markets that launched in 2024, and we are already seeing a lot of growth there. For example, North Carolina, which only went live with sports betting in March 2024, but by the end of the year, already clinched ninth place in the Top 10 sports betting states, reporting revenues of over $583.

This is why we treat every state as a standalone ecosystem with its unique set of challenges, requirements, and potential. The next exciting challenge (and opportunity) we are preparing for is Missouri, which legalized sports betting at the end of 2024 but has yet to launch. We have already been hard at work since the ballot was approved in November, so we can hit the ground running and start sending our MO sportsbook partners newly depositing customers from day one.

 

What about organic growth in existing markets?

“There’s certainly that also. While every new state that launches sports betting can potentially bring a spike in growth, we are certainly seeing organic growth and improved results across the board year after year. Take as an example the Super Bowl. In 2025, legal US bets on the Super Bowl grew 10% year-on-year. Or March Madness, on which best are expected to grow 13% from last year.

So, is there still organic growth in existing markets? For us, it’s a big, fat yes.”

 

Are you planning on staying within the iGaming and sports betting markets in the near future?

“That’s a very good question I ask myself every day, Segal smiles and immediately corrects himself. “Actually, scratch that. I ask myself this question many times over the course of a day in the office.”

He elaborates: “iGaming is tangent to other gaming verticals, and sports betting has an overlap with a whole universe of sports and its related verticals. Every website in these verticals needs traffic, and we know how to provide it. So new opportunities knocking on our door. But how do we capitalize on these without losing our focus and commitment to our core business? We keep our ears and eyes open, but never lose focus.”

 

The post Affiliates in the US Sports Betting Market – Has The Game Gone Cold? appeared first on Gaming and Gambling Industry in the Americas.

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