The Most Profitable iGaming Brands of 2024: Research Results
The research used data from 1919 operators across 45 countries. Companies were ranked based on the average value of the Competitive Earning Baseline (CEB), a metric assessing a brand’s potential revenue considering market position, audience interest, and competitive environment.
Methodology Overview
Blask, using its All Brands platform, analyzed data from 1919 operators in 45 countries to compile the ranking of the most profitable iGaming brands for 2024.
Companies were ranked based on the CEB metric, which calculates potential brand revenue considering market conditions, player interest, and competition.
The CEB metric consists of three values: worst, average, and best. This helps to estimate the brand’s potential income in different market situations, offering a more accurate picture of real prospects compared to traditional financial reports based solely on publicly available company data.
The study also considered BAP (Brand’s Accumulated Power) indicators, which show a brand’s dominance in specific countries and regions.
Ranking Leaders
The research showed that there is no universal formula for success in iGaming. Some brands target global presence, while others focus on one or a few key markets. Here are the top five brands with the highest revenue potential according to Blask:
1. Bet365
Bet365 ranked first in CEB, despite a 17.5% decrease — from $1.18 billion to $973.9 million. The company remains a leader in the international market despite challenging market conditions.
2. Betway
Betway significantly improved its position, increasing CEB by 24.1%. The company is actively developing and strengthening its presence in various regions.
3. Hollywoodbets
Hollywoodbets showed impressive growth of 91.5%, allowing the brand to rise significantly in the rankings. The key to success was a focus on a regional strategy, which led to significant success in Africa.
4. W88
W88 showed a 53.9% increase in CEB. The brand continues to focus on the Vietnamese market, ensuring stable growth and development.
5. 188BET
188BET entered the top five, displacing Betpawa. However, Betpawa remains a leader in the APS indicator, which shows its strong market positions.
Secrets of Success: How Brands Achieve High Results
One of the interesting features of the research is the absence of a single success formula for all leaders. For example, W88 focused exclusively on the Vietnamese market, while Hollywoodbets placed its bet on Africa. These brands demonstrate that a successful strategy can depend on deep focus on one region.
In contrast, giants like Bet365 and Betway successfully compete across multiple continents, allowing them to significantly expand their audience and increase profits.
iGaming Industry Trends: How Leaders Adapt to Changes
One of the important themes of the study is the adaptability of leading brands to changes in the industry. In 2023, 188BET was not in the top five, and Betpawa took its place. However, in 2024, 188BET returned to the top five, which indicates its flexibility and ability to adapt to market changes.
However, it is important to note that successful brands continue to show stable growth. For example, Hollywoodbets increased its CEB by 91.5%, and W88 by 53.9%. These brands managed to find the right approach to their markets and actively improve their positions.
Growth Strategies
The process of increasing brand profitability in iGaming involves several key factors:
- Focus on one region or market. Examples of brands like Hollywoodbets and W88 show that a successful strategy can be concentrated on one key market.
- Flexibility and adaptation. Brands that successfully adapt to changes in the competitive environment can significantly strengthen their positions. For example, Betway improved its results by 24.1% by adapting to new conditions.
- Global presence. Brands like Bet365 and Betway highlight the importance of having a presence in multiple markets to maintain stability and growth.
Conclusion
The ranking of the most profitable iGaming brands of 2024 confirms that success in the industry is not only about predicting market trends but also about adapting strategies to the unique conditions of each market.
Leading companies show various approaches to expanding their positions, but all are based on careful calculation and attention to local specifics.
Despite the revenue decline for some brands, such as Bet365, global and regional competition continues to grow, creating new opportunities for success.