Sports betting giant Kambi Group has posted impressive results for the second quarter, largely thanks to the 2026 FIFA World Cup. CEO Werner Becher announced that the company saw a resurgence in growth, driven by a noteworthy 18% operator trading margin during the tournament. The company reported a 13.5% rise in revenue year over year, reaching €45.9 million ($52.3 million), and an adjusted EBITDA increase of 102% to €7.6 million ($8.7 million).
In This News
Significant Margin Growth
Kambi’s performance during the World Cup was a key driver of its financial success, according to CFO David Kenyon, who deemed the quarter’s margin “extraordinary.” While margins averaged around 11% over the previous two years, the recent 18% margin has fueled speculation that Kambi may adjust its long-term sportsbook margin guidance next year. The strong showing was attributed to Kambi’s product innovations, particularly its expansive Bet Builder. Becher highlighted that this product is engaging players with higher-margin offerings, reducing the business’s dependency on match outcomes. Kambi processed over €1 billion ($1.14 billion) in sportsbook turnover during the World Cup, although Becher pointed out that high margins can sometimes negatively affect turnover. Yet, they provide operators with the leeway to offer bonuses and incentives. “Operators now have more room to be aggressive on bonusing and engaging with customers to capture market share,” said Becher.
Market Expansion and Product Diversification
Kambi’s focus wasn’t just on traditional sportsbook opportunities; it also showcased its diverse product range. Notably, the company’s eSports product has emerged as its fourth largest sport, gaining traction during the World Cup. Becher noted strong eSoccer engagement during halftime of matches, emphasizing growth potential within this sector. While discussing prediction markets, Becher adopted a cautious stance, noting that they accounted for nearly 30% of US World Cup betting volume. However, with major states like Texas and California not regulating sports betting, prediction markets remain in a “wait-and-see position.” Kambi is actively exploring partnerships and developing in-house capabilities to enter the market once it’s fully legalized in the U.S. “We’re ready to serve our partners once prediction markets gain full legal status,” Becher stated.
Americas and Strategic Partnerships
The Americas proved pivotal, generating 57% of Kambi’s global turnover for the World Cup. This marks a major increase from 38% in the 2022 tournament. Kambi has been strategically expanding in this region, securing new agreements with Canadian lotteries and operators. In April, Kambi struck deals with Atlantic Lottery Corporation and British Columbia Lottery Corporation, which will use its solutions. But additionally, a partnership was formed with Pure Casino Entertainment, aligning with Alberta’s market opening in July.
Looking Forward
Despite a 14% rise in Kambi’s share price following the Q2 results, it has since retraced, though shares are still up 30% since the year’s start. The company’s enhanced margin performance and strategic regional expansion signal strong future prospects. Going forward, the board is expected to review the long-term margin guidance in the coming year, reflecting on the impact of new products and regional developments.
Eri Gaitu leads the news desk at Best in Slot, tracking breaking developments across the gambling world in real time. From exclusive bonus offers and casino launches to licensing updates and regulatory shifts, Eri ensures readers are always first to know about the changes that matter to their gaming experience.
