The world’s largest bookmakers

There are plenty of bookmakers out there, and many of them belong to one of the big conglomerates. These corporations serve millions of customers every day and we took the time to take a deeper look into how much money they make.

We have decided to focus on the corporation’s revenue in the sports betting segment, both online and retail. Most of the larger corporations have a large portion of casino and games revenue. These sources of revenue are not taken into account in this article.

The article focuses on a top-five in the sports betting industry, which includes the following corporations:

  • Bet365 Group
  • GVC Holdings
  • PaddyPower Betfair
  • WilliamHill
  • Kindred Group

The key parameter in our research is the Sports NGR (Net Gaming Revenue) which is defined as “Sports Gross Win Margin less free bets and promotional bonuses“.

The sports betting market is growing rapidly these years and was estimated to be worth £85 Billion in 2017. [1] The market growth is however mainly seen in the online business, whereas the retail business is declining these years. The market for sports betting is projected to increase to a global value of £124 Billion by 2024.

There are many smaller independent players on the market, however, some corporations stand out, owning several larger sports betting brands. In the infographic below, you get a quick overview of the major players on the market.

Overview over the betting market, with Gaming Net Revenue, Employees and Global
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Bookmakers in detail

We looked closer at the five corporations and analyzed from what they are gaining their massive revenue.

Bet365 Group Ltd was founded in the UK in 2000 by Denise Coates. It is the largest online sports betting company in the world, with an NGR of £2,7 Billion in 2018. Bet365 Group is the only corporation in this article, which doesn’t own other sports betting brands. In 2018, the company had approx. 4.300 employees, mainly seated in the UK and had an operating income of £660 Million.[2]

GVC Holdings was founded in 2004, but is only since recently among the top give sports betting corporations. This is due to the acquisition of the Ladbrokes Coral Group in 2018, which historically had its focus on the retail business. In addition to the newest acquisition, GVC Holdings also include the brands bwin and Sportingbet (acquired in 2013). The company has approx. 25.000 employees, due to its massive retail business.  The groups total NGR in 2018 was almost £3 Billion, however, only £1,9 Billion was generated from sports betting. [3]

PaddyPower Betfair, now also knows as Flutter Entertainment Plc was founded in 2016 as a merger between PaddyPower and Betfair. The company has its headquarters in Dublin, Ireland and global headcount of approx. 8.000. Betfair was initially known for revolutionizing the betting exchange market in 2000 but has since also moved to serve customers with a sportsbook, poker, and casino. PaddyPower was founded in 1988, and still has 626 retail location, which generated approx. 20% (£338 Million) of the company’s total sports betting revenue (£1,5 Billion). [4]

WilliamHill was founded in 1934 and is the oldest of the companies in this article. The company has historically had its focus on the retail business and still owns 2.300 shops alone in the UK. The company stated in their 2018 Annual Report, that 900 of these shops are at risk of closure. It is clear that the company is struggling to really join the online business, and WilliamHill saw a loss of £687 Million in 2018. The company has approx. 14.000 employees worldwide. [5]

Kindred Group, includes the Unibet brand, which was founded in Sweden in 1997. The Kindred Group has a total headcount of 1.400 worldwide, still with many employees based in Sweden. The company is only in the online business, including casino and poker. Sports betting made up 48% (£435 Million) of the company’s NGR in 2018. [6]







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