Industry News

Better Collective provides extraordinary business update due to COVID-19 situation

Published

6 years ago

March 19, 2020

Following the postponement of several sports events in many countries including the UEFA EURO 2020 due to the outbreak of COVID-19, the sports betting media group, Better Collective, provides an extraordinary business update with the following highlights:

Until mid March, Better Collective’s business has shown strong performance and has not been notably affected by postponements of sports events caused by the COVID-19 outbreak.
In the last couple of days, major sports events have been postponed, leading to reduced sports betting activity to approximately half of normal levels. The esports and casino business have not been affected.
The financial targets for 2020 remain unchanged until further, given certain assumptions.
Better Collective’s business model and strong balance sheet allows for a high degree of flexibility in this changing environment.

Current business performance:
Better Collective’s business has not been notably affected by COVID-19 until mid March 2019, despite some sports events having been played without a physical audience and some events having been cancelled.

For Better Collective, February 2020 revenue ended in line with expectations with revenue of 6,9 mEUR corresponding to a growth of 27% (of which 13% was organic growth). Revenue in January and February 2020 combined amounts to 14,1 mEUR corresponding to a growth of 37% (of which 21% was organic growth). Measured on gross gaming activity in revenue share accounts, player activity in February was all time high.

Postponement of sports events
From mid March, almost all major sports events have been postponed. This includes the EURO 2020, as announced by The Union of European Football Associations (UEFA), which is postponed to 2021. In the days after the almost full halt of all major sports events globally, sports betting activity has been reduced to approximately half of normal activity, whereas activities in esports and casino remain unchanged.

Following the postponement of several major sports events, Better Collective expects that some of the revenue, which would normally materialize in the first half of 2020, will either be lost or postponed until later in 2020 or to 2021, depending on the new scheduling of events.

Based upon the current activity level, Better Collective estimates that the postponement of EURO 2020 will imply an isolated revenue postponement of 2-4 mEUR from 2020 to 2021, whereas other cancellations/postponements may have a similar negative effect, in particular in the US, where the business is mostly exposed to the major sports leagues.

Financial targets:

The financial targets for 2020 remain unchanged (double-digit organic growth and total growth of >30%, operating margin (EBITA) >40% and Net Interest Bearing Debt/ EBITDA <2,5) until further, given the following assumptions:

Reduced revenue in 2020 from EURO 2020, postponed to 2021, is estimated at 2-4 mEUR.
Reduced revenue in 2020 from other postponed sports events is estimated at 4-6 mEUR.
Esports (HLTV) and casino business continue to perform at regular levels.
The estimated effect of reduced sports betting of a total 6-10 mEUR is based on the assumption that all major sports events, other than EURO 2020, will be back to a normal activity level in the second half of 2020.
Costs are maintained at current levels and thus lower than budgeted for the full year, offsetting some of the reduced revenue.

Better Collective will on an ongoing basis evaluate the development of the business and potentially take measures to protect the business and cash flow if revenue will be impacted significantly by postponed sports events.

Flexible business model and strong balance sheet:
Better Collective operates in an online business that allows for a high degree of flexibility as operation is highly scalable and can take place almost anywhere. This allows the company to continue operations as usual while giving priority to the health and safety of the employees. Furthermore, the historical business model has to a high degree been based upon revenue share, where the large databases of players continue to generate revenue as long as betting events take place, thereby providing recurring revenue. In past periods with low activity in the absence of major sports events, there is normally still betting activity, i.e. on lower profiled sports events, virtual games, esports, casino. Therefore it can be expected that even though major sports events are not happening, there will still be betting activity.

Better Collective has a strong balance sheet and financing position. The net cash position was almost neutral at the end of February 2020, with a net bank debt (cash minus bank debt) of minus 13,9 mEUR after including upfront payment of approximately 24 mEUR in connection with the acquisition of HLTV.org ApS (esports) at the end of February. Cash and un-utilised committed bank credit facilities stood at 70 mEUR end of February 2020.

Jesper Søgaard, CEO of Better Collective, says:
“The COVID-19 has in many instances created an unprecedented situation for societies across the world. Just as many other companies, Better Collective will expectedly also be affected by the COVID-19, especially following the postponement of major sports events such as the EURO 2020. Nothing is more important than the health and safety of people and we look forward to the return of the sports we all enjoy, including a safe and exciting EURO 2021. Though visibility is currently limited, we stay optimistic that normal sports betting activity levels will be restored why our guidance remains unchanged.”

About Better Collective:

Better Collective’s vision is to empower iGamers through transparency and technology – this is what has made them the world’s leading developer of digital platforms for betting tips, bookmaker information and iGaming communities. Better Collective’s portfolio includes a range of websites and products, among other bettingexpert.com, the trusted home of tips from expert tipsters and in depth betting theory. Better Collective is headquartered in Copenhagen, Denmark, and listed on Nasdaq Stockholm (BETCO).

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AI

Despite AI’s Rise, Fraud Teams Keep Growing — SEON 2026 Report

Published

5 days ago

March 4, 2026

Wladimir P.

despite-ai’s-rise,-fraud-teams-keep-growing-—-seon-2026-report

SEON, the command centre for immediate Fraud Prevention and AML Compliance, has unveiled AI Reality Check: 2026 Fraud & AML Leaders Report, the second iteration of its sector research, derived from a worldwide survey of 1,010 leaders in fraud, risk, and compliance spanning payments, fintech, financial services, retail, eCommerce, and gaming.

The figures reveal an unforeseen narrative: AI is ubiquitous, yet operations are not becoming easier to manage. Currently, 98% of organizations utilize AI in fraud and AML processes, with 95% expressing confidence in its effectiveness; meanwhile, headcount plans rose from 88% to 94% year-over-year, and 83% anticipate budget increases in 2026.

Complexity Is Surpassing Automation

AI has not lessened the workload — it has revealed the extent of work that has always existed. Fraud losses are increasingly approaching revenue growth, threats are advancing more rapidly, and disjointed systems restrict the true potential of AI at scale. Key year-over-year shift:

Leadership’s confidence in their teams’ performance is lagging. The number of leaders who disagreed with the statement, “fraud losses are growing faster than revenue,” dropped by almost 40% from the previous year

Inside the Numbers:

AI is baseline, not experimental

98% already integrate AI into daily workflows (only 2% still planning)
95% are confident AI can detect and prevent fraud (52% very confident)
Top use case: AI/ML for transaction monitoring (30%)

Fraud and AML investment keeps climbing

83% expect fraud/AML budgets to increase in 2026
94% plan to add at least one full-time hire (up from 88% in 2025)
85% plan to add a vendor, 49% plan to replace one

Fragmentation is the bottleneck

95% claim “some integration” between fraud and AML systems
Only 47% run fully integrated workflows; the rest rely on partial connections
80% say getting a unified view of data is challenging

For many, time-to-value remains slow

Only 10% go live in under two weeks
38% take 1–3 months, 24% take 4+ months
When implementations run long, top impacts include increased costs (52%) and prolonged fraud exposure (47%)

Teams are growing, not shrinking

94% plan to increase headcount despite automation gains
85% see AI agents as support/augmentation, not replacement (only 12% see eventual replacement)

Top fraud threats reported:

Account takeovers: 26%
Promo/discount abuse: 18%
Return fraud: 18%

“Fraud and financial crime were supposed to become more manageable as AI matured,” said Tamas Kadar, CEO and co-founder, SEON. “Instead, 2026 is the year leaders are confronting a more complicated reality. AI adoption is real, confidence is high, but the scale and pace of fraud — compounded by fragmented systems — continue to drive increased investment rather than reduced overhead. The bottleneck is no longer whether AI works. It’s everything around it: disconnected data, siloed teams, slow implementations. The organisations that pull ahead will be the ones that unify fraud and AML intelligence, shorten the distance between threats and controls, and treat integration as strategy, not plumbing.”

Fast-Growing Companies Invest in Integration Early

Organisations growing 51%+ are nearly twice as likely as slower peers to report that achieving unified visibility is “not very challenging.” They treat integration as infrastructure, not an IT project.

What’s Next: From “Does AI Work?” to “Can We Trust It?”

With adoption near-universal, the conversation is shifting to governance, explainability and accountability:

78% say decentralised digital identity will become central to fraud/AML
33% cite data privacy regulations (GDPR, CCPA) as the biggest external force shaping AML
25% point to criminals’ advancing use of AI and obfuscation techniques

The post Despite AI’s Rise, Fraud Teams Keep Growing — SEON 2026 Report appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Ashley McCulloch Vice President North America at Evoplay

Evoplay Names Ashley McCulloch Vice President North America

Published

5 days ago

March 4, 2026

Wladimir P.

evoplay-names-ashley-mcculloch-vice-president-north-america

Evoplay, the acclaimed game development studio, has named Ashley McCulloch as Vice President North America, strengthening its strategic emphasis on growth throughout the US and Canada.

McCulloch has over 15 years of experience that includes land-based, VLT, and online gaming. She has occupied high-level commercial positions at IGT and Light & Wonder and most recently worked as Director of Account Management North America at Inspired Gaming Group, where she led strategic account development and assisted with new market entry projects.

In addition to her commercial success, McCulloch serves as a board member for Women in Sports and Events, is part of Global Gaming Women, and was recognized in the 2024 Emerging Leaders in Gaming 40 Under 40, highlighting her influence in the industry.

At Evoplay, McCulloch will lead partnerships, regulatory licensing, product launches, and broader business development efforts as the provider speeds up its growth in the North American market.

Evoplay has secured a significant presence in the area, launching in Ontario via collaborations with prominent operators in the province, such as BetMGM and Caesars Entertainment.

In November 2025, Evoplay made a notable initial move into the United States by joining the lottery sector in Washington DC, establishing a connection to the US online gaming landscape.

With McCulloch’s hiring, the company aims to leverage this momentum and continue its expansion throughout regulated US states.

Ivan Kravchuk, CEO at Evoplay, said: “North America represents one of the most exciting growth opportunities for Evoplay, and Ashley McCulloch’s appointment is a major step forward in realising our ambitions in the region.

“Her extensive experience across land-based and online gaming, combined with her track record in commercial strategy, makes her the ideal person to lead our efforts as we scale.”

Ashley McCulloch, Vice President North America at Evoplay, added: “I’m very excited to be joining the Evoplay team at such a pivotal moment in its growth journey.

“The studio has built a strong reputation for high-quality content, and I look forward to developing partnerships and driving sustainable growth across North America.”

The post Evoplay Names Ashley McCulloch Vice President North America appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Africa

VeliGames Secures SiGMA Africa’s Industry Rising Star Award

Published

5 days ago

March 4, 2026

Wladimir P.

veligames-secures-sigma-africa’s-industry-rising-star-award

VeliGames, a game aggregation platform from VeliTech, has received the Industry Rising Star award at the SiGMA Africa 2026 Awards, highlighting the platform’s swift innovation and significant influence on African iGaming.

The Industry Rising Star award highlights a developing company that displays remarkable potential, creativity, and influence, rapidly positioning itself as a forthcoming leader in the iGaming sector. It emphasizes VeliGames’ dedication to providing not just a content pipeline, but also genuine innovation and a comprehensive growth engine for operators in developing markets.

“Winning the SiGMA Africa Award for Industry Rising Star 2026 is a proud moment for our team. From day one, we built VeliGames with African operators in mind, combining local-fit content, practical tooling, and pricing that makes sense on the ground. We back it all up with hands-on operational know-how from working in the region. That’s what being a true content partner looks like.” Irakli Kakhidze, CEO at VeliGames.

Tailored for Africa’s infrastructure challenges, device characteristics, and user habits, VeliGames provides a performance-oriented casino content layer aimed at thriving in areas where conventional, high-bandwidth aggregation methods struggle. Rather than solely competing based on catalogue size, VeliGames prioritizes the key factors that genuinely contribute to casino success in Africa: speed, accessibility, conversion, and session stability.

The platform delivers content in a highly efficient, mobile-centric setting designed to function dependably amid variable connectivity, restricted device storage, and brief gaming sessions, assisting operators in ensuring seamless gameplay and enhanced player experiences on a larger scale.

Alongside curated third-party titles, the platform includes exclusive in-house content:

VeliPlay: bold, crash-and-fast titles built for immersion, retention, and high replay value
Heaven of 7: high-impact slot content designed for strong engagement, session after session

Visit VeliTech at Stand 096 from March 3-5 to learn why VeliGames was honored as the Industry Rising Star. Discover live game demonstrations, witness performance features in action, and learn how operators can create unique iGaming brands with a platform designed for regional requirements.

The post VeliGames Secures SiGMA Africa’s Industry Rising Star Award appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.