Better Collective has made two acquisitions to enhance its position in the Dutch betting and gaming business ahead of its online launch next month.
Better Collective acquired sports media website Soccernews.nl and ‘well established’ online sports betting community Voetbalwedden.net in separate transactions including upfront payments of €5.9 million and €3.75 million.
Despite the fact that Better Collective expects a positive impact on revenue and earnings, the company has maintained its financial targets for 2021, stating that the financial impact in 2021 will be ‘limited’ due to the time of incorporation and the time required for the Dutch online market to establish itself.
However, Better Collective anticipates that the two purchases will bring in a total of 2.5 million monthly visitors, allowing the company to position itself to benefit from the anticipated introduction of international online sports betting providers in the Netherlands in 2022.
Jesper Søgaard, Co-Founder & CEO of Better Collective said: “We are excited about the regulatory opening of the Dutch igaming market, welcoming licensed operators and laying the foundation for stronger player protection.
“The Dutch market has high potential and is expected to grow significantly in the coming years. To be able to capitalize on these opportunities, we are pleased to have added two strong Dutch brands to our portfolio and welcomed Joris Dekkers and a new team to Better Collective. These moves will help us establish a leading position in the Dutch sports betting media landscape.”
The acquisitions follow the establishment of Better Collective Netherlands B.V., which was led by Managing Director Joris Dekkers, who joined the company on August 1 after serving as an external consultant for the company’s Dutch launch and bringing 10 years of igaming industry experience in media and operations to the role.
Under the terms of the Remote Gambling Act (KOA), the Netherlands’ online betting and gaming market will go live next month, ending the company’s state monopoly.
By 2022, the country’s igaming sector is expected to account for 81 percent of the country’s overall gambling industry, up from 22 percent in 2015. The Kansspelautoriteit (KSA) regulator received 28 licence applications by the end of April 2021, and according to H2 Gambling Capital, the country’s igaming sector will account for 81 percent of the country’s overall gambling industry by 2024, up from 22 percent in 2015.
With a combined gross gaming revenue of nearly €800 million for online sports betting and casino verticals, the Netherlands would become Europe’s fifth largest igaming market.