## Enhanced Group Achieves Remarkable Success in 2022 with 52% Income Surge
Sports wagering affiliate powerhouse, Better Collective, commemorated a year of surpassing objectives as per their 2022 yearly report.
Their total earnings escalated by an exceptional 52%, reaching €269 million (roughly $292 million). This notable expansion was driven by a 34% organic income rise, showcasing the robustness of their primary operations. Significantly, recurring income, the foundation of any subscription-centric model, constituted a substantial 46% of the overall earnings, surging by 54% to hit €123 million.
Better Collective didn’t hesitate to flex their acquisition power in 2022. They secured the entirety of media enterprise Canada Sports Betting for €21 million in March, further cementing their North American footprint. Not stopping there, they procured the renowned esports platform Futbin for €105 million in April, indicating their aspiration to dominate the ever-expanding esports wagering sector.
The company’s triumph can be partially attributed to their remarkable client acquisition rate. In 2022, they onboarded a staggering 1.7 million new depositing clients for their partners, with a significant 76% of these fresh sign-ups falling under revenue-sharing contracts, a mutually beneficial arrangement. The fourth quarter alone witnessed an astounding 580,000 new clients, partly fueled by the global spectacle of the FIFA World Cup, which contributed nearly 300,000 new clients.
Their US-focused brand, Action Network, also reached a significant turning point, achieving its ambitious $100 million earnings goal.
Looking forward, Better Collective is striving for even greater accomplishments in 2023, projecting total earnings of €300 million and an EBITDA of €100 million. Their long-term vision, extending to 2027, is equally ambitious, targeting a 20% compound annual growth rate (CAGR) and an EBITDA margin of 30-40%, excluding any extraordinary items. Ultimately, Better Collective aims to reach a stage where any future acquisitions can be fully financed through their own robust cash flow.
Despite these accomplishments, the company did encounter a slight growth deceleration at the start of 2023, with rates dipping just below 40%. This minor setback is attributed to the introduction of online sports wagering in Ohio, a market characterized by intense competition.
In early 2023, the initiative unveiled collaborations with athletic journalism platform Goal and major Polish media company Wirtualna Polska.