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OddsMatrix smashes 2023 targets in record year for sportsbook division

| By iGB Editorial Team
OddsMatrix, EveryMatrix’s leading B2B sportsbook division, has achieved its best ever year, setting record growth, profitability and a record number of bets for Tier 1 customers.
OddsMatrix-2023 profits-PR image

The sports betting platform, data feeds and services division has gone from strength to strength in the last 12 months launching several large-scale digital projects for Tier 1 brands across Europe. The division experienced a 75% year-on-year (YoY) rise in total bets from 109 million to 183 million from 2022 to 2023, and a 95% quarter-on-quarter (QoQ) increase in bets in Q4 2023 compared to the same period a year ago.

Profitability rose by 90% in the last year from €100.2m to €191.1m, while quarterly profits rose by more than 200% from €23.9m in Q4 2022 to €74.5m in Q4 2023.

The business unit set its second highest ever month in gross gaming revenue (GGR) for customers in December 2023 at €44.4m following a record month just four weeks earlier in November 2023 (€48.5m).

OddsMatrix live events also rose by a third (31%) YoY in 2023 to more than 1.8 million, up 6.2% QoQ in Q4 2023 with 500,000 live events during the latest three-month period.

Large-scale turnkey delivery

EveryMatrix, with OddsMatrix at the heart of each project, has delivered some of the industry’s most complex turnkey solutions of the last year including Bet-at-home and the Hungarian national lottery company’s (SZRT) online brand TippmixPro the most significant to date.

Tier 1 operator Bet-at-home went live with the full EveryMatrix tech stack in Germany in October last year following the earlier migration in February of millions of players within its MGA-licensed business.

EveryMatrix’s products and integration processes were custom-built and delivered for Bet-at-home.de with almost every team joining forces to ensure the successful launch of its OddsMatrix sportsbook and wide-ranging turnkey solution.

The TippMixPro OddsMatrix-powered sportsbook, launched in November 2023, is driving the brand to new levels, giving customers the opportunity to experience features including Cash Out and Bet Builder, alongside promotions such as Stake-Back Special, for the first time.

Tor Skeie, CEO OddsMatrix, said: “The last 12 months have involved a huge amount of work across not just OddsMatrix, but also the group. This is now paying off with a record set of numbers that we fully intend to continue to build on in 2024 and beyond.

“Our sportsbook, both standalone and as part of wider turnkey agreements, has become an essential technology product for the world’s largest brands. We’re delighted with its progress and the results it is having for our customers.”

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