bet-at-home has kicked off 2025 with some solid numbers. The company’s gross revenue from betting and gaming rose by over 15%. This growth was driven by both its online sports betting and online gaming businesses, making bet-at-home Q1 2025 a strong start.

  • Gross betting and gaming revenue increased by 15.2% compared to Q1 2024, reaching 13.522 million euros. This was driven by strong performance in both sports betting and gaming. The company did not report any major seasonal event that boosted the result.

  • Personnel expenses remained stable at 2.049 million euros in Q1 2025. Marketing costs rose by 7% to 4.848 million euros. These were mainly aimed at brand building, new customer acquisition, and reactivating existing users.

  • Other operating expenses increased by 18.9% to 3.089 million euros. This was due to outsourcing to EveryMatrix and related monthly fees based on net gaming revenue. The outsourcing deal appears to have a cost impact, but also supports operations.

  • EBITDA before special items rose significantly to 1.6 million euros. No exact percentage was given, but it marks a notable increase from Q1 2024. The result reflects improved efficiency despite higher marketing and operating expenses.

  • Cash and cash equivalents stood at 28.662 million euros at the end of March 2025. This provides financial stability as the company navigates a changing regulatory environment. Liquidity was not flagged as an issue.

  • The company continues to focus on customer satisfaction and internal process optimization. Branding in Germany and Austria remains a key goal. They also aim to stay agile amid regulatory shifts.

  • Seasonal swings are expected in 2025 due to the lack of a major off-season sports event. The dominance of sports betting in the product mix amplifies this effect. No direct revenue offset was announced.

  • In Germany, new regulations could include wider betting options and tougher deposit limit systems. In Austria, the betting tax increased from 2% to 5% in April 2025. This is expected to put pressure on net revenue for the rest of the year.

  • The board reiterated its long-term strategy to stay competitive in core markets. They plan to keep adjusting to legal and market changes. “We remain focused on scalable growth and market leadership,” management noted in their report.