OddsMatrix Celebrates Record-Breaking Year with Unprecedented Growth and Profitability
OddsMatrix, the prominent B2B sportsbook division of EveryMatrix, has marked its most successful year yet, achieving record-breaking growth, profitability, and betting numbers, particularly among tier-1 customers.
A Remarkable Year of Achievements for OddsMatrix
The past year has been monumental for OddsMatrix, showcasing an unparalleled surge in their performance metrics. The division witnessed a tremendous 75% Year-on-Year increase in total bets, soaring from 109 million in 2022 to an astonishing 183 million in 2023. This growth trajectory continued into the fourth quarter of 2023, where they experienced a 95% increase in bets compared to the same period in the previous year.
Profitability followed suit, skyrocketing by 90% from the previous year’s €100.2 million to a staggering €191.1 million. The final quarter of 2023 further underscored this success, with quarterly profits rising by more than 200% from €23.9 million in Q4 2022 to €74.5 million in Q4 2023. December 2023 marked a significant milestone, registering the second-highest ever month in Gross Gaming Revenue (GGR) for their customers at €44.4 million, closely following a record-setting November with €48.5 million.
Expansion in Live Events and Strategic Turnkey Deliveries
The growth of OddsMatrix wasn’t confined to just financial metrics. The division also saw a substantial rise in live events, with a 31% increase in 2023, culminating in more than 1.8 million events. This growth extended into the final quarter of the year, with 500,000 live events, marking a 6.2% quarter-on-quarter growth.
On the front of delivering complex turnkey solutions, OddsMatrix proved to be a game-changer. Notably, their collaborations with tier-1 brands such as bet-at-home and TippmixPro, the online brand of the Hungarian national lottery company (SZRT), showcased their prowess in the industry. These projects underscored OddsMatrix’s capability in delivering comprehensive and sophisticated betting solutions.
Pioneering Partnerships and Technological Innovations
OddsMatrix’s technological innovation and strategic partnerships have been pivotal in its growth. The full integration of EveryMatrix’s tech stack into bet-at-home in Germany and the seamless migration of millions of players within its MGA-licensed business are testament to their technological and operational excellence.
The launch of the TippMixPro OddsMatrix-powered sportsbook in November 2023 marked a new era for the brand, offering customers advanced features and promotions for an enhanced betting experience.
CEO Tor Skeie’s Vision and Commitment
Tor Skeie, CEO of OddsMatrix, reflected on the past year as a period of immense hard work and collaboration across the Group, leading to these record-setting numbers. He emphasized the sportsbook’s vital role in the success of the world’s largest brands and its positive impact on their customers. His vision for continued growth and innovation in 2024 and beyond highlights OddsMatrix’s commitment to maintaining its leading position in the sportsbook technology sector.
Objective Commentary: Redefining the Sports Betting Landscape
The extraordinary performance of OddsMatrix in the past year sets a new standard in the sports betting technology industry. Their record-breaking growth in bets, profitability, and live events, coupled with their success in delivering complex turnkey solutions, demonstrates a significant shift in the industry dynamics.
As OddsMatrix continues to navigate the future of sports betting technology, their focus on innovation, customer engagement, and technological advancement is pivotal. This trajectory not only cements their position as a leader in the field but also illustrates the ever-growing potential and importance of cutting-edge technology in shaping the future of the sports betting industry.