Online gambling stocks performance was mixed over the past week, with the sector posting an average share price increase of +2%, trailing behind the Nasdaq Composite’s stronger +5% gain. Gambling.com and Bet-at-Home emerged as the standout performers with double-digit growth, while Better Collective and Catena Media recorded the sharpest declines. Across the different segments, online-focused operators and affiliates delivered the strongest momentum, whereas suppliers experienced slightly negative overall performance.

Overview

  • Average growth – On average, share prices analyzed increased by +2% in the last week.
  • “Winner” – The most significant leap in our sample of online gambling-focused companies was taken by Gambling.com with an increase of +13%, followed by Bet-at-Home (+12%).
  • “Loser” – Better Collective and Catena Media had the worst weekly performance in our analysis, with a change of -6% and -4%.
  • Comparison to the Nasdaq Composite – Compared to the development of the Nasdaq Composite (+5%), the average development of the online gambling industry looks “worse”.

Segment-specific developments

  • Online-focused operators – The shares of online-focused operators included in the analysis saw, on average, an increase of +3%; with Bet-at-Home (+12%) leading the ranking.
  • Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, Evoke is the “winner” with +4% while the average share development was +1%.
  • Suppliers – The shares of the suppliers included in the analysis saw, on average, a decrease of -0.2%. The winner is Bragg with +2%.
  • Affiliates – On average, affiliates’ shares saw an increase of +3% with Gambling.com (+13%) leading and Better Collective (-6%) coming last.

The share increase of Gambling.com

Gambling.com’s share price increase between 04.05 and 08.05 was likely driven by growing investor optimism ahead of the company’s Q1 2025 earnings release and continued positive sentiment around its recent acquisitions of OddsJam and OpticOdds. During that period, analysts and industry media highlighted strong growth expectations for the company’s expanding sports data business and recurring subscription revenues, which investors viewed as a key long-term growth driver.

The decline of Better Collective shares

Better Collective’s weaker share performance between 04.05 and 08.05 was largely driven by investor concerns ahead of its Q1 2025 results, which highlighted ongoing pressure from Brazil’s new gambling regulations and softer activity in North America. Reports published last week pointed to declining revenues, lower new depositing customers and the financial impact of stricter Brazilian advertising rules, all of which weighed on market sentiment despite the company maintaining its full-year guidance.

 

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