Ulrik Bengtsson resigns from Chairman role at Raketech
Ulrik Bengtsson will resign as Raketech Chairman later this year after becoming a full-time CEO at an international company.Bengtsson joined Raketech in 2021 after...
iGaming Quarterly Report: Top Affiliates Q4 Revealed
Q4 2024 was a decisive quarter for iGaming affiliates, showing a year of fierce competition, strategic shifts, and market challenges. In this report, we will explore the main highlights of Q4 for the iGaming industry together with the performance of leading affiliates Better Collective, Raketech, Gentoo, and Gambling.com Group.
Q4 Overview of iGaming Industry
Q4 2024 was a significant time for the iGaming industry. Constantly updating regulations, digital trends, and market dynamics made the competition chart constantly go up and down. While the Netherlands took Q4 as the best time to have tightened gambling advertisements, the UK continued implementing stricter player protection measures, with ongoing discussions around affordability checks which impacted acquisition strategies.
Meanwhile, in the U.S., many states like Missouri approved regulated sports betting markets, opening new opportunities for affiliates. As a result, some affiliates took on the chance, while others hardly navigated through unexpected challenges.
The Q4 changes took place not only on a regional but also on a digital scale. Google algorithm updates and restrictions on gambling advertisements forced affiliates to reshape their SEO and content strategies.
Breaking Down Quarterly Report of iGaming Affiliates
In the iGaming industry, it is money that talks, and these Q4 numbers have a lot to say. As your go-to iGaming directory, we’ve reviewed and analyzed the top 4 affiliate companies in their Q4 to give YOU a quick breakdown of it all. In case you want to dig deeper, just scroll down for the full reports on each company; we’ve got you covered!
Better Collective
Being a digital sports media group founded in 2004, Better Collective reported €96 million in Q4 revenue. When compared to Q4 2023, this is an increase of 13%. Sounds like a win, right? But the winning path was not without turbulence. Despite ongoing expansions that took place both organically and through acquisitions, Q4 was also challenging for Better Collective as the company faced severe slowdowns in key regions such as Brazil and the US, ahead of new iGaming regulations debuting in 2025. What followed? Tough decisions!
On October 30, 2024, CEO Jesper Søgaard came up on LinkedIn with news that no leader wants to deliver: workforce cutoff. Aiming to adjust the company’s cost structure, Better Collective chose to shift the company’s focus from mergers and acquisitions (M&A) to organic growth. Søgaard acknowledged the tough decision but remained confident about the company’s future.
Gambling.com Group
Unlike Better Collective, Gambling.com Group not only met expectations in Q4 but also reported a record with $35.2 million which equals to €33.4 million. This makes 2024 a strong year with a 42% EBITDA margin. And that’s just the quarter; full-year revenue hit $127.1 million, motivating CEO Charles Gillespie to forecast a stronger 2025. Specifically, for 2025, the company expects to generate between $170 million and $174 million, with adjusted EBITDA landing between $67 million and $69 million.
Think that’s all? Not at all! Gambling.com Group does not calculate revenue from new state launches in its forecasts. Specifically, the company’s Missouri operations can be integrated into forecasts only after Missouri welcomes the regulated gambling market.
It’s clear: Gambling.com Group is playing to win and proves that devotion, efficient traffic generation, and a focus on iGaming can leave competitors struggling with market uncertainties behind.
Raketech
Being one of the leading iGaming affiliate and marketing companies, Raketech felt the industry pressure and recorded a Q4 revenue decline of 46% year-over-year, from €22.8 million to €12.3 million. EBITDA took a hit too, falling 47%, with margins declining to 26%.
However, Q4 for Raketech was not only about bad news. Next to global struggles, Raketech’s North American revenue increased by 9% YoY, now making up 30% of total earnings. The company is also banking on subscription revenue (now 13% of total revenue) as a more stable income stream.
Looking ahead, Raketech does not plan to give up. The company is just shifting its focus to exclusive commercial agreements, strategic partnerships, and AffiliationCloud, its proprietary affiliate tech platform. The goal? A smarter, more sustainable business model in 2025.
Gentoo Media
Gentoo Media has shown how sustained, strategic growth can pay off. The company reported €35.9M in Q4 revenue, marking a 38% YoY increase and an impressive 45% EBITDA margin. Even more remarkable? This is Gentoo’s 16th consecutive quarter of record-breaking revenue.
Now focused exclusively on its affiliate business, Gentoo has streamlined its operations and strengthened its position for long-term growth. By refining its core affiliate model, Gentoo Media has managed to take advantage of market opportunities while sidestepping some of the pitfalls that have held back other players. With a solid market presence and a strong plan for 2025, Gentoo is undoubtedly one to watch as it continues to carve out its space in the industry.
Explore Full Q4 Reports
Final thoughts
So, who claimed the crown in Q4 2024? While Gambling.com Group definitely stole the show with its performance and big plans for the future, it’s clear the competition was on fire. Better Collective, despite a few pushbacks on the way, is confident and focused on a better future. Raketech may have faced a tough quarter, but its strategic pivot shows it’s not going to give up anytime soon. And Gentoo Media? Consistency is key, and they’ve proven they’ve got the staying power. All in all, while Gambling.com Group may be ahead, Q4 was a reminder that in iGaming, the game is never over, and 2025 promises even more challenges and uncertainties.
Better Collective reports strong Q4 with €96M
Better Collective, a digital sports media group founded in 2004, shared its financial results for 2024, highlighting Q4 revenues of €96 million.When compared to the same...
