lobal sports betting media group, Better Collective, announced Friday the acquisition of Soccernews.nl, a Dutch online sports media, and Voetbalwedden.net, a Duch online sports betting community. Both took place in separate transactions that accounted for a total upfront payment of $6.9 million, with maximum deferred and earn out payments of $4.3 million.
Soccernews.nl and Voetbalwedden.net attract more than 2.5 million monthly visitors. The two media platforms will enable Better Collective to benefit from the Dutch market as it allows the company to positionate before the expected arrival of larger international sports betting operators in 2022.
We are happy to announce the acquisitions of Dutch online media platforms https://t.co/9E7rnKAD3J and https://t.co/6vkqSPUSQy. Learn more in today's press release: https://t.co/Js3N1CbYHP pic.twitter.com/fE0FvfGfop— Better Collective (@BetterCollectiv) September 24, 2021
These purchases are part of a strategic move that seeks to establish Better Collective in “a leading position in the Dutch online sports betting market”, as stated by the company. It is expected that revenue in Better Collective Netherlands will exceed $3.5 million in 2022, it being its first full fiscal year in that market.
The Dutch “Remote Gambling Act” will come into effect on October 1, 2021, fully regulating online gambling. Until now, the market had been operated as a state monopoly. Through the regulation, iGaming operators will be given the opportunity to apply for a license to operate, with more than 20 operators expected to be licensed by 2022.
Dutch onshore iGaming is projected to increase from 22% of the country’s total in 2015 to 81% in 2024, according to the international betting and gaming consultancy firm, H2 Gambling Capital. As a result, the Dutch iGaming gross gaming revenue (GGR) for online casino and sports betting combined is expected to reach more than $900 million in 2024, making it the fifth largest iGaming market in Europe.
In an official press release, Jesper Søgaard, Co-Founder & CEO of Better Collective, spoke about this acquisition and said: “We are excited about the regulatory opening of the Dutch iGaming market, welcoming licensed operators and laying the foundation for stronger player protection. The Dutch market has high potential and is expected to grow significantly in the coming years. To be able to capitalize on these opportunities, we are pleased to have added two strong Dutch brands to our portfolio and welcomed Joris Dekkers and a new team to Better Collective. These moves will help us establish a leading position in the Dutch sports betting media landscape.”