Gambling.com is an upcoming online sports betting platform. The company recently released its Q3 earnings figures and the results have the whole industry, even outside the gambling arena, mesmerized.
The company in Q3 posted a revenue of $19.6 million. When compared to the Q3 in 2021, on a year-over-year basis, the gambling platform grew by an astounding 94%. In Q3 2021, Gambling.com had posted a figure of $10.1 million. Among the total revenue of $19.6 in Q3, $9.1 million came from North American market. On an year-over-year basis, this growth is a whopping 300%!
This growth is even more prominent when the economic situation of the current times is considered. Rising inflation and interest rates has kept the market in speculation about a possible impending recession. There had also been calls of gambling market being saturated, as there were just too many companies in the sector. However, Gambling.com has endured all these factors and still presented astounding figures. How were they able to do that?
The answer behind this growth is the mature and gradual approach of the company towards the US market. Unlike many other gambling platforms, Gambling.com didn’t just open its platform for the whole world in the greed of a larger consumer base. Instead the company followed a more nuanced approach where they focussed on the American market, state by state.
The company had a very successful stint in Arizona at the beginning of the year. The company launched their platform in Kansas ahead of the NFL. The expansion in the state was aided by premium domain name acquisitions such as BetKansas.com, Kansas.com and KansasCity.com. Maryland has been chosen as the company’s major focus in Q4. However, New York City is also a potent candidate for future endeavors.
It’s interesting how Gambling.com complements its growth with the proper utilization of domain names. In Kansas, the company got hold of strategically important domain names. The company also owns premium domain name Casinos.com. It also controls Bookies.com and BonusFinder.com.
Although the market has been defensive worldwide, people at Gambling.com are hopeful. They expect the betting industry to be particularly resistant to the global economic headwinds.