EveryMatrix has smashed its historical quarterly high with continued strong revenue growth and profitability hitting a new record. 

Announcing Q1 2024 results, the industry’s fastest growing iGaming technology provider had quarterly net revenue of €39 million across all products, growth of 66% Year-on-Year (YoY), while also setting a quarterly profit margin record of 57% – its fourth consecutive quarter with both growth and profit margin above 50%. 

Q1 2024 EBITDA rose to €22.3m, up 111% YoY. 

Advertisement

The record quarter comes just three months after EveryMatrix registered the strongest financial results in its history. 

STARTING THE YEAR IN STYLE 

The EveryMatrix financial year is underway in style, driven by large value client signings, multiple new client launches across all the company’s core business units, strong sports trading and innovation and continued growth in casino. 

EveryMatrix was among the first wave of iGaming technology providers to gain regulatory accreditation in Peru, while it made further progress in the US launching its first casino aggregation partner with third-party content live on DraftKings in New Jersey. 

The tier-1 supplier also hit a significant post-period milestone reaching 1,000 employees across 13 global locations, with its largest purpose-built office opening its doors to 450 personnel in Bucharest, Romania and a new office launched in Cebu, Philippines, dedicated to focusing on DeepCI data products. 

Advertisement

CASINO AND SPORTS CONTINUE TO SHINE 

EveryMatrix quarterly Gross Gaming Revenue (GGR) performance for operator partners within the Casino segment generated a record quarterly performance of €619m in Q1 2024, up 65% YoY with GGR for the last 12 months at €2.1 billion, a 78% YoY increase. 

Quarterly casino net revenue rose to €19.9m, up 83% YoY while EBITDA reached €13.2m reflecting a 132% YoY increase. The SlotMatrix aggregation product introduced 886 new games. 

The OddsMatrix sports division saw turnover rise 31% YoY to €1.3bn, with GGR climbing 308% YoY to €96m. Net revenue for Q1 2024 reached €10.5m, up 78% YoY, while EBITDA hit €6.2m, reflecting a 313% increase. 

OddsMatrix covered a record 173k live events in a single month. The average monthly number of bets placed reached 39m. 

Advertisement

Platform saw quarterly net revenue reach €7.3m, up 28% YoY, with EBITDA at €3.2m, up 13% YoY. The EveryMatrix Player Account Management (PAM) system hit a massive new record of 230k bets per minute at peak times. 

The Affiliate Platform division, including PartnerMatrix and DeepCI, saw net revenue grow to €1.4m during the quarter, up 39% YoY, with EBITDA down €0.4m due to continued product and commercial investment. DeepCI added 22 further geos to its offering and signed 14 new clients, while PartnerMatrix signed 15. 

Ebbe Groes, Group CEO of EveryMatrix, said: “It’s been more than a year of the company breaking records and hitting new highs, and this quarter has been the best yet. 

“It’s mind-blowing how far we’ve come and how much progress continues to be made across the entire business. From casino, sports and platform that are all showing extremely positive signs of sustained growth and expansion, to our affiliate, payments and live casino divisions that are pushing the boundaries of technology and paving the way for future success, we’re in a fantastic position for the remainder of 2024 and beyond. 

“Watch this space as there is plenty more to come from EveryMatrix this year!”

Advertisement

Q1 2024 HIGHLIGHTS 

• Among first wave of B2B technology providers to gain regulatory accreditation in Peru 
• Signed a turnkey customer estimated to deliver more than €3m annual net revenue 
• Live on DraftKings in New Jersey with first US casino content aggregation partner – Supremeland Gaming Inc 
• Launched game content with Entain (BetMGM), Golden Nugget Online Gaming and DraftKings 
• 886 new games on SlotMatrix aggregation platform bringing total to 27,825+ games 
• Integrated seven new casino vendors bringing total to 158 
• In-house games studio Armadillo Studios launched several games including Alice’s Mad Fortune, Shamrock Surprise, Gummy Galaxy and Paws & Claws 
• Released 30+ new betting types across multiple sports 
• Signed 15 and 14 new PartnerMatrix and DeepCI clients respectively 
• Increased total company headcount post-period to 1,000+ including opening an office in Cebu, Philippines focusing on DeepCI products 
• Four new senior hires in Q1 including CEO MoneyMatrix, CEO PlayMatrix, CCO PlayMatrix, CCO PartnerMatrix 

Global developer commits to providing a transparent player experience amid growing trend

EvenBet Gaming, a leading developer of online gaming software and solutions, has reinforced its anti-fraud detection technology to combat the rise in AI-powered bots and align with stringent anti-money laundering (AML) policies.

The increase in machine-learning technology sophistication has resulted in AI bots becoming harder to identify within the global gaming industry, posing huge financial and reputational risks to operators and affecting the transparency of the player experience.

Advertisement

To combat this escalated risk, EvenBet has introduced rigorous measures that can pinpoint potential bots with up to 99% precision, including Fingerprint JS Pro technology, multiple anti-fraud verification processes, and behavioural analysis procedures.

This includes cutting-edge in-game player inspection during poker rounds, monitoring several factors such as hand strength, potential knowledge of opponents’ cards, session duration, location, and jackpot hunting or tournament endgame dragging. Each factor is then compared to normal player behaviour to calculate the likelihood of AI-powered bots in poker rooms.

EvenBet has also supplemented its registration process with further Know Your Customer (KYC) checks, implemented to tackle the 112% and 184% growth in identity theft and synthetic identities respectively. The leading developer utilises temporary email identification techniques and assesses potential email forwarding and re-login attempts to ascertain the risk of a new sign-up.

The improvement of existing technology and the addition of new measures analyses risk from the moment of registration and monitors behavioural factors throughout the player journey, demonstrating EvenBet’s dedication to eliminating AI bots, complying with rigid AML guidelines, and providing the optimal gaming experience.

Dmitry Starostenkov, CEO at EvenBet Gaming, said: “With the rapid development of artificial intelligence in the 21^st century, it has never been more important to stay ahead of the curve with regards to anti-fraud processes.

Advertisement

“EvenBet continues to develop and implement the latest anti-fraud technology to ensure our platform remains a trusted industry leader providing an entirely transparent user experience.”

Industry trailblazer recognized for his contributions to the sports betting industry at SBC Summit North America

Michael Tobin, Founder and CEO of Continent 8 Technologies, was honored at SBC Summit North America, when he was inducted into the prestigious SBC Sports Betting Hall of Fame 2024.

The SBC Sports Betting Hall of Fame acknowledges individuals who have demonstrated exceptional achievements and made significant strides in shaping the sports betting landscape.

Advertisement

Over the last 25 years, Michael has worked tirelessly towards his vision of driving innovation and fostering growth in the global gaming industry. Continent 8 began its journey by setting up a state-of-the-art data center near Montreal, later expanding into key iGaming hubs in Europe, including the Isle of Man, Malta and Gibraltar.

Once regulation permitted, this expansion continued into other regions, such as the United States, Asia, and Latin America. Michael’s deep-rooted relationships with customers, partners, regulators, and suppliers have been crucial in fueling global development, progress and success within the constantly evolving iGaming and online sports betting industry.

Today, Continent 8 continues to be at the forefront of innovation, providing reliable managed hosting, connectivity, cloud, and cybersecurity services on a global tier-one network of over 100 locations across four continents. The company powers and protects the biggest names in the industry.

Commenting on this accolade, Michael Tobin, said: “It is truly an honor to be recognized by my peers, and it’s also a testament to the hard work and dedication of the entire Continent 8 team.

“I am incredibly proud of all that we have accomplished, the value we have added to the industry and the ways in which we have empowered our customers and partners to achieve success. The iGaming and online sports betting industry is constantly evolving, and I am excited to see how we can continue to embark on this journey to grow the market together.”

Advertisement