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Better Collective looks west for placing sports betsINTL

Better Collective looks west for placing sports bets

Danish betting giant Better Collective (BETCO) is going all-in by acquiring its US rival Action Network, one of the leading sports betting media platforms. The $240m deal will see Better Collective take up a market leadership spot within the sports betting media market in the US – which could potentially up its revenues in the country to over $100m by 2022.

BC knows that this is good timing to do business across the pond, considering more and more states are now finally legalizing sports betting. The American online sports gambling market, which generated revenues of $1.5b last year (corona restrictions might have helped with that), is expected to bring in a whopping $5.8b by 2023.

why it matters
Action Network itself is expected to post a 100% year-on-year revenue rise in 2021 - wow! Investors seemed pretty pumped about the whole thing too because BETCO’s shares in Stockholm were trading over 17% higher on Tuesday.