OddsMatrix reports 75% rise in total bets from 2022 to 2023

OddsMatrix has reported certain financial results for 2023.

Sports betting platform OddsMatrix provides real-time coverage of game titles and tournaments, reporting record growth over the last 12 months.

OddsMatrix recently launched several large-scale digital projects across Europe, with a 75% year-on-year rise in total bets from 109 million to 183 million from 2022 to 2023. OddsMatrix also reported a 95% quarter-on-quarter increase in bets in Q4 2023 compared to the same period in 2022.

Profitability has increased by 90% in the last year from €100.2m ($109.6m) to €191.1m, while quarterly profits have risen by more than 200% from €23.9m in Q4 2022 to €74.5m in Q4 2023.

OddsMatrix set its second-highest-ever month in gross gaming revenue for customers in December 2023 at €44.4m following a record month just four weeks earlier in November 2023 with its highest ever at €48.5m.

Tor Skeie, CEO, OddsMatrix, said: “The last 12 months have involved a huge amount of work across not just OddsMatrix, but also the Group. This is now paying off with a record set of numbers that we fully intend to continue to build on in 2024 and beyond.

“Our sportsbook,slots both standalone, and as part of wider turnkey agreements, has become an essential technology product for the world’s largest brands. We’re delighted with its progress and the results it is having for our customers.”

Last year OddsMatrix joined forces with Kindred to provide sports data on major sporting events such as football, ice hockey, basketball and tennis.

EveryMatrix recently expanded across the US, partnering with Rush Street Interactive for a Michigan launch in December 2023. A partnership with Caesars Digital was also announced in November last year to integrate its casino content into Caesars Palace Online Casino and Caesars Sportsbook & Casino.