OddsMatrix Success in 2023

OddsMatrix Success in 2023

In the fast-paced world of online sports betting, EveryMatrix’s B2B sportsbook division, OddsMatrix, has emerged as a powerhouse, marking a stellar performance in the year 2023. The achievements include record growth, soaring profitability, and an impressive surge in the number of bets placed by tier-1 customers.

Record-Breaking Growth

Over the course of the last 12 months, OddsMatrix has executed several large-scale digital projects for tier-1 brands across Europe. This has translated into a remarkable 75% Year-on-Year (YoY) rise in total bets, surging from 109 million in 2022 to a staggering 183 million in 2023. Notably, the momentum continued with a substantial 95% quarter-on-quarter (QoQ) increase in bets during Q4 2023 compared to the same period in the previous year.

Profits Soar to New Heights

The financial success story of OddsMatrix is highlighted by a staggering 90% increase in profitability over the past year, jumping from €100.2 million to an impressive €191.1 million. Quarterly profits also witnessed a phenomenal surge, skyrocketing by more than 200%, from €23.9 million in Q4 2022 to an astounding €74.5 million in Q4 2023.

Gross Gaming Revenue Milestones

December 2023 proved to be a landmark month for OddsMatrix, setting its second-highest ever Gross Gaming Revenue (GGR) at €44.4 million. This achievement followed closely on the heels of a record-breaking month in November 2023, where GGR reached an impressive €48.5 million.

Live Events Flourish

OddsMatrix live events experienced a notable uptick, registering a 31% Year-on-Year increase in 2023, totaling more than 1.8 million. The momentum continued into Q4 2023 with a 6.2% quarter-on-quarter rise, boasting 500,000 live events during the latest three-month period.

Project Highlights

EveryMatrix, with OddsMatrix at the helm, successfully delivered some of the industry’s most complex turnkey solutions in the past year. Noteworthy projects include the integration for bet-at-Home and the online brand TippmixPro of the Hungarian national lottery company (SZRT).

Bet-at-Home Success Story

Tier-1 operator bet-at-Home’s successful migration to the full EveryMatrix tech stack in Germany in October 2023 marked a significant milestone. Earlier in February, millions of players within its MGA-licensed business had undergone a seamless migration. The collaboration involved custom-built products and integration processes, showcasing the commitment of every team involved in ensuring the successful launch of the OddsMatrix sportsbook and turnkey solution.

TippMixPro Empowers Customers

The launch of TippMixPro, an OddsMatrix-powered sportsbook in November 2023, has been a game-changer. The sportsbook offers customers a range of features, including Cash Out and Bet Builder, along with enticing promotions like Stake-Back Special – all for the first time.

CEO's Perspective

Tor Skeie, CEO of OddsMatrix, expressed his satisfaction, stating, “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.”

Conclusion

EveryMatrix’s OddsMatrix division has not only met but surpassed expectations, solidifying its position as a leader in the B2B sportsbook industry. The stellar growth, increased profitability, and successful project implementations underscore the commitment to excellence that defines OddsMatrix. As we look forward to the future, it is evident that OddsMatrix is poised for continued success and innovation.

FAQ

What contributed to OddsMatrix’s record growth in 2023?
OddsMatrix’s record growth in 2023 can be attributed to several large-scale digital projects executed for tier-1 brands across Europe, resulting in a substantial increase in total bets.

How much did profits increase for OddsMatrix in the last year?
Profits for OddsMatrix soared by an impressive 90% in the last year, rising from €100.2 million to €191.1 million.

Which month set the second-highest Gross Gaming Revenue (GGR) for OddsMatrix in 2023?
December 2023 marked the second-highest Gross Gaming Revenue (GGR) for OddsMatrix, reaching €44.4 million.

What key features does the TippMixPro OddsMatrix-powered sportsbook offer?
The TippMixPro sportsbook, powered by OddsMatrix, provides customers with features such as Cash Out, Bet Builder, and promotions like Stake-Back Special.

When did bet-at-Home go live with the full EveryMatrix tech stack in Germany?
bet-at-Home went live with the full EveryMatrix tech stack in Germany in October 2023, following an earlier migration in February.

How much did quarterly profits increase for OddsMatrix in Q4 2023 compared to Q4 2022?
Quarterly profits for OddsMatrix witnessed a remarkable increase of more than 200%, rising from €23.9 million in Q4 2022 to €74.5 million in Q4 2023.

What is the significance of the launch of TippMixPro in November 2023?
The launch of TippMixPro in November 2023, an OddsMatrix-powered sportsbook, has been a significant development, offering customers new features and promotions.

How many live events did OddsMatrix register in 2023?
OddsMatrix recorded over 1.8 million live events in 2023, experiencing a 31% Year-on-Year increase.

Which tier-1 operator successfully migrated to the full EveryMatrix tech stack in Germany?
Tier-1 operator bet-at-Home successfully migrated to the full EveryMatrix tech stack in Germany in October 2023.

What does Tor Skeie, CEO of OddsMatrix, say about the past 12 months?
Tor Skeie expressed satisfaction, stating that the last 12 months involved significant work, and the record set of numbers is a testament to the commitment that will be continued in 2024 and beyond.

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