Better Collective Reports 9% Q2 Revenue Growth Driven by North America and Prediction Markets

Better Collective delivered a 9% year-on-year revenue increase in Q2 2026, reaching €89.1 million, as North American expansion and surges in prediction market activity helped offset regulatory headwinds. The company cited the FIFA World Cup and a shift in revenue share economics as further catalysts, while warning that regulatory changes in Brazil and the UK impacted results.

Key Drivers Behind Better Collective's Q2 Performance

Management pointed to North America as the "main engine" for growth, emphasising the role of prediction markets and talent-led media, especially in acquiring new depositing customers. The opening phase of the FIFA World Cup fell within Q2, resulting in a noticeable boost in general activity and new customer acquisition for operators affiliated with Better Collective.

Better Collective's reported revenue represents a rise from €81.5 million in Q2 2025. EBITDA before special items climbed by 20% to €27 million, indicating improved operational efficiency and a favourable revenue mix. The company highlighted that €6 million in revenue directly stemmed from improvements in revenue share arrangements. In total, management cited €11 million in incremental growth, which "more than offset" external pressures, including a €2 million hit each from recent regulatory changes in Brazil and the UK's increased 40% remote gaming duty.

"We are particularly encouraged by the progress in North America, where growth was driven by revenue share income, talent-led media and prediction markets, while the EBITDA margin before special items improved significantly from 5% to 26%," said co-CEO Jesper Søgaard.

How North America and Prediction Markets Fuel Revenue Growth

North American operations remain pivotal to Better Collective's strategy, with revenue share arrangements accounting for 70% of newly deposited customer activity. The prediction markets boom played a pronounced role in driving both user engagement and operator partnerships. Management identified these channels as major acquisition opportunities, especially during the World Cup.

In Q2 2026, 373,000 new depositing customers were added—a 24% annual increase—offering scale that supported the uptick in revenue share metrics. Total value of deposits reached a record €836 million, up 17% year-on-year and 5% compared to Q1 2026.

Divisional Breakdown: Publishing, Paid Media, and Esports

Better Collective’s operations saw notable growth across all primary divisions:

• Publishing revenue: rose 11% to €57.5 million
• Paid media revenue: grew 6% to €26.5 million
• Esports revenue: climbed 9% to €5.1 million

Each division was positively affected by World Cup-related activity and the increased traffic towards prediction market products, with paid media and esports also benefiting from targeted content and automation improvements.

Responding to Regulatory Changes

The quarter was not without external challenges. A €2 million reduction in revenue was linked directly to Brazil's tighter regulatory framework, and another €2 million was attributed to the UK government's implementation of a 40% remote gaming duty. Despite these factors, Better Collective’s total revenue growth was sufficient to outpace these losses.

Post-quarter, Better Collective initiated operations in Alberta, Canada, and strengthened its CMS and content automation. These steps are aimed at reinforcing its North American business and enhancing scalability.

Outlook: Guidance and Market Sentiment

Full-year 2026 guidance remains unchanged. The group forecasts organic revenue growth between 7% and 12%, with anticipated EBITDA growth (before special items) set between 8% and 18%. At the time of writing, Better Collective shares on the Stockholm exchange traded down 1.1% at SEK120.

“Q2 was a strong quarter for Better Collective, with organic revenue growth of 9% translating into 20% growth in EBITDA before special items to €27m. [...] We remain focused on profitable growth, continued operating leverage and building an increasingly scalable and efficient Better Collective,” said Søgaard.

For more on affiliate sector strategies and partnership trends, see our dedicated B2B section. Compliance impacts from the UK's duty rise and Brazil's regulation are further explored in our regulation updates.