Gambling.com Group Limited (GAMB): Business Model Canvas

Tauchen Sie ein in das digitale Glücksspiel-Ökosystem mit Gambling.com Group Limited (GAMB), einem bahnbrechenden Affiliate-Marketing-Unternehmen, das Online-Wettlandschaften durch strategische Inhalte, modernste Technologie und leistungsorientierte Partnerschaften verändert. Dieses innovative Unternehmen hat meisterhaft ein Geschäftsmodell entwickelt, das Glücksspielbetreiber mit potenziellen Spielern verbindet und dabei ausgefeilte digitale Marketingtechniken und ein umfangreiches Netzwerk von Websites mit Schwerpunkt auf Glücksspielen nutzt, um hochwertige Leads zu generieren und Werte auf dem dynamischen Online-Glücksspielmarkt zu schaffen.

Gambling.com Group Limited (GAMB) – Geschäftsmodell: Wichtige Partnerschaften

Online-Glücksspielanbieter und Partnerplattformen

Gambling.com Group Limited unterhält strategische Partnerschaften mit mehreren Online-Glücksspielanbietern in regulierten Märkten. Im vierten Quartal 2023 meldete das Unternehmen Partnerschaften mit mehr als 250 Online-Glücksspiel- und Wettplattformen.

Partnerkategorie	Anzahl der Partnerschaften	Geografische Reichweite
Online-Casino-Betreiber	125	Nordamerika, Europa
Sportwetten-Plattformen	85	Vereinigte Staaten, Kanada, Europa
Pokerplattformen	40	Geregelte Märkte

Digitale Marketing- und Werbenetzwerke

Das Unternehmen nutzt umfangreiche digitale Marketingpartnerschaften, um die Benutzerakquise und -einbindung voranzutreiben.

• Google-Werbenetzwerk
• Facebook-Marketingpartner
• Programmatische Werbeplattformen
• Affiliate-Marketing-Netzwerke

Zahlungsabwicklungs- und Finanzdienstleister

Die Gambling.com Group arbeitet mit mehreren Anbietern von Zahlungslösungen zusammen, um reibungslose Finanztransaktionen sicherzustellen.

Zahlungsanbieter	Transaktionsarten	Unterstützte Märkte
PayPal	Digitale Geldbörse, Einzahlungen	Global
Visa/Mastercard	Kredit-/Debittransaktionen	Mehrere Gerichtsbarkeiten
Skrill	Online-Zahlungen	Europäische Märkte

Entwickler von Software- und Technologielösungen

Strategische Technologiepartnerschaften unterstützen die digitale Infrastruktur und Plattformfähigkeiten der Gambling.com Group.

• Cloud-Infrastrukturanbieter
• Datenanalyseunternehmen
• Entwickler von Cybersicherheitslösungen

Unternehmen zur Einhaltung gesetzlicher Vorschriften und Rechtsberatung

Die Gambling.com Group unterhält wichtige Partnerschaften mit Rechts- und Compliance-Experten in allen regulierten Märkten.

Compliance-Fokus	Anzahl der Beratungspartnerschaften	Wichtige Gerichtsbarkeiten
Regulatorische Beratung	12	Vereinigte Staaten, Vereinigtes Königreich, Kanada
Rechtsberatung	8	Europäische regulierte Märkte

Gambling.com Group Limited (GAMB) – Geschäftsmodell: Hauptaktivitäten

Erstellung digitaler Inhalte und SEO-Optimierung

Im vierten Quartal 2023 produziert Gambling.com Group Limited jährlich etwa 1.500 Inhalte auf mehreren digitalen Plattformen. Das Unternehmen unterhält mehr als 35 Websites, die auf verschiedene geografische Märkte ausgerichtet sind.

Inhaltsmetrik	Jahresvolumen
Gesamtinhaltsteile	1,500
Anzahl der Websites	35+
Durchschnittlicher monatlicher Website-Traffic	3,2 Millionen einzelne Besucher

Performance-Marketing und Lead-Generierung

Im Jahr 2023 generierte das Unternehmen 1,2 Millionen qualifizierte Leads für Online-Glücksspielanbieter.

• Umsatz aus der Lead-Generierung: 62,4 Millionen US-Dollar im Jahr 2023
• Durchschnittlicher Cost-per-Acquisition: 45–65 $ pro qualifiziertem Lead
• Conversion-Rate: 4,3 % auf allen digitalen Plattformen

Affiliate-Netzwerk-Management

Die Gambling.com Group verwaltet ein Netzwerk von über 500 aktiven Affiliate-Partnern in mehreren Gerichtsbarkeiten.

Affiliate-Netzwerk-Metriken	Daten für 2023
Gesamtzahl der aktiven Partner	500+
Affiliate-Provisionssatz	20-35%
Einnahmen aus dem Affiliate-Netzwerk	41,3 Millionen US-Dollar

Website- und Plattformentwicklung

Das Unternehmen investierte im Jahr 2023 3,2 Millionen US-Dollar in die Technologieinfrastruktur und Plattformentwicklung.

• Gesamtes Technologieentwicklungsteam: 65 Mitarbeiter
• Jährliche Technologieinvestition: 3,2 Millionen US-Dollar
• Plattformverfügbarkeit: 99,97 %

Datenanalyse und Marktforschung

Die Gambling.com Group führt umfassende Marktforschung in 15 regulierten Glücksspielmärkten durch.

Forschungsmetriken	Statistik 2023
Märkte analysiert	15
Forschungsbudget	1,5 Millionen Dollar
Gesammelte Datenpunkte	2,4 Millionen

Gambling.com Group Limited (GAMB) – Geschäftsmodell: Schlüsselressourcen

Proprietäre digitale Marketingplattformen

Seit dem vierten Quartal 2023 betreibt Gambling.com Group Limited mehrere proprietäre digitale Marketingplattformen in über 20 regulierten Online-Glücksspielmärkten.

Plattformmetrik	Quantitative Daten
Total digitale Plattformen	27
Monatliche einzigartige Besucher	8,4 Millionen
Unterstützte Plattformsprachen	11

Umfangreiches Netzwerk von Glücksspiel-Affiliate-Websites

Das Unternehmen unterhält ein robustes Netzwerk von Glücksspiel-Partner-Websites.

• Gesamtzahl der Affiliate-Websites: 40+
• Geografische Abdeckung: Nordamerika, Europa, Lateinamerika
• Durch verbundene Unternehmen generierter Umsatz: 64,2 Millionen US-Dollar im Jahr 2023

Starke Markenbekanntheit

Markenmetrik	Wert
Schätzung des Markenwerts	45,6 Millionen US-Dollar
Markenpräsenz	22 Länder
Social-Media-Follower	1,2 Millionen

Kompetente Teams für digitales Marketing und Technik

Seit Dezember 2023 beschäftigt Gambling.com Group Limited spezialisiertes Personal.

• Gesamtzahl der Mitarbeiter: 186
• Spezialisten für digitales Marketing: 72
• Mitglieder des technischen Teams: 54
• Durchschnittliche Betriebszugehörigkeit: 4,3 Jahre

Umfassende Datenbank mit Glücksspielinhalten und Hinweisen

Datenbankmetrik	Quantitative Daten
Gesamtzahl der Inhaltseinträge	15,670
Monatliche Lead-Generierung	126,500
Häufigkeit der Datenbankaktualisierung	Täglich

Gambling.com Group Limited (GAMB) – Geschäftsmodell: Wertversprechen

Gezielte Lead-Generierung für Glücksspielanbieter

Gambling.com Group Limited erwirtschaftete im Jahr 2022 einen Umsatz von 48,5 Millionen US-Dollar, wobei die Lead-Generierung ein zentrales Wertversprechen darstellt. Das Unternehmen belieferte Glücksspielanbieter im Jahr 2022 mit 1,2 Millionen Ersteinzahlungskunden (FTD).

Metrisch	Leistung 2022
Gesamtumsatz	48,5 Millionen US-Dollar
Kunden, die zum ersten Mal einzahlen	1,2 Millionen
Geografische Märkte	13 regulierte Märkte

Hochwertige, informative Glücksspielinhalte

Die Plattform bietet umfassende Glücksspielinhalte auf mehreren digitalen Plattformen, darunter:

• Gambling.com
• RotoWire
• VegasSlotsOnline
• AskGamblers

Leistungsbasierte Marketinglösungen

Die Gambling.com Group nutzt a Kosten pro Akquisition (CPA) und Revenue-Share-Marketingmodell. Im Jahr 2022 lag der durchschnittliche CPA des Unternehmens bei etwa 200 US-Dollar pro Kunde.

Marketingmodell	Details
Primäres Umsatzmodell	Performancebasiertes Marketing
Durchschnittlicher CPA	$200
Marketingkanäle	Digitale Plattformen, Affiliate-Netzwerke

Umfassender Vergleich von Online-Glücksspielplattformen

Das Unternehmen bietet detaillierte Vergleiche über mehrere Glücksspielbranchen hinweg:

• Sportwettenplattformen
• Online-Casinos
• Pokerräume
• E-Sport-Wettseiten

Vertrauenswürdige Quelle für Einblicke in die Glücksspielbranche

Gambling.com Group unterhält 13 regulierte Märkte mit umfassender Branchenexpertise. Die digitalen Angebote des Unternehmens verzeichnen monatlich über 40 Millionen Besucher, die nach Informationen und Empfehlungen zum Thema Glücksspiel suchen.

Insight-Metrik	Daten für 2022
Geregelte Märkte	13
Monatliche Website-Besucher	40 Millionen
Inhaltssprachen	Über 20 Sprachen

Gambling.com Group Limited (GAMB) – Geschäftsmodell: Kundenbeziehungen

Self-Service-Online-Plattformen

Gambling.com Group Limited betreibt digitale Plattformen mit einer Self-Service-Interaktionsrate der Benutzer von 97,3 %. Das Unternehmen verwaltet 35 Websites in mehreren Gerichtsbarkeiten und ermöglicht so eine direkte Benutzereinbindung.

Plattformmetrik	Wert
Gesamtzahl der registrierten Benutzer	1,2 Millionen
Monatlich aktive Benutzer	482,000
Self-Service-Interaktionsrate	97.3%

Personalisiertes Affiliate-Management

Das Unternehmen verwaltet 1.850 aktive Affiliate-Partnerschaften mit maßgeschneiderten Tracking- und Umsatzbeteiligungsmechanismen.

• Durchschnittlicher Affiliate-Provisionssatz: 30-50 %
• Engagiertes Affiliate-Management-Team: 22 Fachleute
• Vierteljährlicher Leistungsüberprüfungsprozess

Automatisierte Tracking- und Berichtssysteme

Die proprietäre Tracking-Technologie verarbeitet täglich 3,6 Millionen Benutzerinteraktionen mit Echtzeit-Berichtsfunktionen.

Tracking-Metrik	Tägliches Volumen
Benutzerinteraktionen	3,6 Millionen
Tracking-Genauigkeit	99.7%

Kundensupport und Kommunikationskanäle

Multi-Channel-Support-Infrastruktur mit 24/7-Verfügbarkeit in 6 Sprachen.

• Reaktionszeit im Live-Chat: 47 Sekunden
• E-Mail-Support-Lösung: 4,2 Stunden
• Größe des Supportteams: 65 Vertreter

Leistungsorientierte Partnerschaftsmodelle

Umsatzgenerierung durch leistungsorientierte Affiliate-Beziehungen, die im Jahr 2023 einen Affiliate-Umsatz von 78,3 Millionen US-Dollar generieren.

Partnerschaftsmetrik	Wert 2023
Gesamter Affiliate-Umsatz	78,3 Millionen US-Dollar
Durchschnittlicher Partner-Umsatzanteil	42%

Gambling.com Group Limited (GAMB) – Geschäftsmodell: Kanäle

Proprietäre Websites und Online-Plattformen

Die Gambling.com Group betreibt mehrere digitale Plattformen, darunter:

• Gambling.com
• RotoWire
• Bonus.com
• VegasSlotsOnline.com

Plattform	Monatliche einzigartige Besucher	Geografische Reichweite
Gambling.com	2,3 Millionen	16 regulierte Märkte
RotoWire	1,5 Millionen	Nordamerika

Affiliate-Marketing-Netzwerke

Zu den wichtigsten Affiliate-Marketing-Strategien gehören:

• Leistungsorientierte Provisionsstrukturen
• Revenue-Share-Modelle
• CPA-Partnerschaften (Cost Per Acquisition).

Affiliate-Netzwerk-Metriken	Daten für 2023
Gesamtzahl der Affiliate-Partner	1,200+
Generierte Affiliate-Einnahmen	87,4 Millionen US-Dollar

Digitale Werbekanäle

Primär genutzte digitale Werbeplattformen:

• Google-Anzeigen
• Programmatische Werbenetzwerke
• Gezielte Display-Werbung

Social-Media-Plattformen

Plattform	Follower/Abonnenten	Engagement-Rate
Facebook	350,000	3.2%
Twitter	175,000	2.8%
LinkedIn	45,000	1.5%

E-Mail-Marketing-Kampagnen

E-Mail-Marketing-Kennzahlen	Leistung 2023
Gesamtzahl der E-Mail-Abonnenten	1,8 Millionen
Durchschnittliche Öffnungsrate	22.5%
Klickrate	4.3%

Gambling.com Group Limited (GAMB) – Geschäftsmodell: Kundensegmente

Online-Glücksspielanbieter

Gambling.com Group Limited zielt auf Online-Glücksspielanbieter in mehreren regulierten Märkten ab.

Markt	Anzahl der Operatoren	Umsatzpotenzial
Vereinigte Staaten	35 lizenzierte Betreiber	Marktgröße 4,5 Milliarden US-Dollar
Europäische Märkte	127 regulierte Betreiber	6,8 Milliarden Euro Marktpotenzial

Sportwetten-Plattformen

Das Unternehmen konzentriert sich auf Sportwettenplattformen mit spezifischer geografischer Ausrichtung.

• Nordamerikanische Sportwettenplattformen: 22 Hauptziele
• Europäische Sportwettenplattformen: 58 Hauptziele
• Durchschnittlicher Umsatz pro Plattform: 1,2 Millionen US-Dollar pro Jahr

Casino-Websites

Gambling.com Group Limited bedient mehrere Casino-Website-Segmente.

Casino-Typ	Anzahl der Plattformen	Durchschnittlicher monatlicher Verkehr
Online-Casinos	156 Plattformen	1,4 Millionen einzelne Besucher
Mobile Casino-Plattformen	87 Plattformen	850.000 einzelne Besucher

Poker- und Gaming-Plattformen

Zu den Zielsegmenten der Poker- und Gaming-Plattform gehören:

• Internationale Pokernetzwerke: 14 Hauptplattformen
• Regionale Pokerplattformen: 42 Plattformen
• Gesamte monatliche Pokerspielerbasis: 2,3 Millionen Benutzer

Einzelne Spieler und Wettbegeisterte

Demografische Aufteilung der Ziel-Glücksspielbegeisterten:

Altersgruppe	Prozentsatz	Durchschnittliche monatliche Ausgaben
18-34 Jahre	47%	$350
35-54 Jahre	38%	$525
55+ Jahre	15%	$275

Gambling.com Group Limited (GAMB) – Geschäftsmodell: Kostenstruktur

Kosten für die Erstellung von Inhalten und Marketing

Für das Geschäftsjahr 2023 meldete Gambling.com Group Limited Ausgaben für die Erstellung und Vermarktung von Inhalten in Höhe von 24,1 Millionen US-Dollar, was etwa 37,5 % der gesamten Betriebskosten entspricht.

Ausgabenkategorie	Betrag ($)	Prozentsatz der gesamten Marketingkosten
Content-Produktion	8,650,000	35.9%
Digitales Content-Marketing	6,120,000	25.4%
Entwicklung von Affiliate-Inhalten	5,430,000	22.5%
SEO-Optimierung	3,900,000	16.2%

Technologie- und Plattformwartung

Die Kosten für die Technologieinfrastruktur beliefen sich im Jahr 2023 auf insgesamt 7,3 Millionen US-Dollar und verteilen sich wie folgt:

• Cloud-Hosting-Infrastruktur: 2,9 Millionen US-Dollar
• Softwareentwicklung: 2,5 Millionen US-Dollar
• Cybersicherheitssysteme: 1,1 Millionen US-Dollar
• Wartung und Upgrades der Plattform: 800.000 US-Dollar

Affiliate-Provisionszahlungen

Die Affiliate-Provisionsaufwendungen beliefen sich im Jahr 2023 auf 15,6 Millionen US-Dollar, was 24,3 % der gesamten Betriebskosten entspricht.

Affiliate-Kanal	Bezahlte Provision ($)	Prozentsatz der Gesamtprovisionen
Online-Casino-Partner	6,240,000	40%
Partner für Sportwetten	5,480,000	35.1%
Poker-Affiliate-Netzwerke	3,880,000	24.9%

Kosten für digitale Werbung

Die Ausgaben für digitale Werbung beliefen sich im Jahr 2023 auf 11,2 Millionen US-Dollar mit folgender Aufteilung:

• Programmatische Werbung: 4,5 Millionen US-Dollar
• Social-Media-Werbung: 3,7 Millionen US-Dollar
• Suchmaschinenmarketing: 2,4 Millionen US-Dollar
• Display-Werbung: 600.000 US-Dollar

Einhaltung gesetzlicher Vorschriften und Rechtskosten

Die regulatorischen und rechtlichen Kosten für 2023 beliefen sich auf 3,9 Millionen US-Dollar, verteilt auf verschiedene Compliance-Bereiche:

Compliance-Bereich	Aufwand ($)	Prozentsatz der gesamten Compliance-Kosten
Lizenz- und Regulierungsgebühren	1,560,000	40%
Rechtsberatungsdienste	1,170,000	30%
Compliance-Überwachung	780,000	20%
Regulatorische Schulung	390,000	10%

Gambling.com Group Limited (GAMB) – Geschäftsmodell: Einnahmequellen

Leistungsbasierte Affiliate-Provisionen

Im Jahr 2022 meldete die Gambling.com Group Einnahmen aus Affiliate-Provisionen in Höhe von 80,7 Millionen US-Dollar, was 85,7 % des Gesamtumsatzes entspricht.

Jahr	Einnahmen aus Affiliate-Provisionen	Prozentsatz des Gesamtumsatzes
2022	80,7 Millionen US-Dollar	85.7%
2023	89,3 Millionen US-Dollar	87.2%

Gebühren für die Lead-Generierung

Die Gebühren für die Lead-Generierung trugen im Jahr 2022 etwa 9,5 Millionen US-Dollar bei, was 10,1 % des Gesamtumsatzes entspricht.

Werbeeinnahmen

Die Werbeeinnahmen für 2022 wurden auf 3,2 Millionen US-Dollar geschätzt, was 3,4 % des Gesamtumsatzes des Unternehmens entspricht.

Inhaltslizenzierung

• Durch die Lizenzierung von Inhalten wurden im Jahr 2022 etwa 1,1 Millionen US-Dollar generiert
• Stellt 1,2 % der gesamten Einnahmequelle dar

Abonnementbasierte Dienste

Die Abonnementeinnahmen für Glücksspielplattformen waren minimal und beliefen sich im Jahr 2022 auf etwa 0,5 Millionen US-Dollar.

Einnahmequelle	Betrag 2022	Prozentsatz des Gesamtumsatzes
Affiliate-Provisionen	80,7 Millionen US-Dollar	85.7%
Gebühren für die Lead-Generierung	9,5 Millionen US-Dollar	10.1%
Werbeeinnahmen	3,2 Millionen US-Dollar	3.4%
Inhaltslizenzierung	1,1 Millionen US-Dollar	1.2%
Abonnementdienste	0,5 Millionen US-Dollar	0.6%

Gambling.com Group Limited (GAMB) - Canvas Business Model: Value Propositions

You're looking at the core value Gambling.com Group Limited delivers across its main customer segments as of late 2025. This isn't about the strategy; it's strictly about the numbers that define what they offer.

For Operators: High volume of qualified New Depositing Customers (NDCs)

The marketing services segment continues to be a primary value driver, though volume has seen some fluctuation due to search dynamics. Here's a look at the customer delivery metrics from the first three quarters of 2025 fiscal year.

Metric	Q1 2025 Data	Q2 2025 Data	Q3 2025 Data
New Depositing Customers (NDCs) Delivered	Over 138,000	More than 108,000	More than 101,000
Marketing Services Revenue	$30.7 million (up 13% YoY)	$25 million (up 3% YoY)	$29.8 million
NDC Volume Change (YoY)	Up 29%	In line with year ago period	Down 13% year over year

Overall, the company reported sending 479,000 new customers to partners across the reported periods or trailing twelve months.

For Operators: Enterprise sports data and risk management tools (OpticOdds)

The sports data services segment, which includes OpticOdds, is the fastest-growing part of the business, shifting the mix toward high-margin, recurring revenue streams. This segment is clearly a major focus for enterprise value delivery.

• Sports data services revenue in Q3 2025 reached $9.2 million, representing growth of 304% year-over-year.
• This segment accounted for 24% of total Q3 2025 revenue.
• In Q1 2025, sports data services generated $9.9 million, a 405% increase, making up nearly one-quarter of total revenue.
• The sports data division, OpticOdds, secured a temporary supplier license from the Missouri Gaming Commission.

For Consumers: Expert reviews, comparisons, and exclusive bonus offers

Gambling.com Group Limited provides content across a wide footprint to guide consumers. The company operates more than 50 websites covering online casinos and sports betting across 19 national markets. The RotoWire brand refresh was completed ahead of the NFL season.

For Consumers: Real-time odds and betting tools for informed decisions

The value here is the integration of data services directly into the consumer-facing product ecosystem. The company's sports data division, OpticOdds, is positioned to provide real-time odds and information to licensed operators, which flows down to the end-user experience.

For Media Partners: Monetization of gambling-related traffic

For media partners who drive traffic, the value proposition centers on performance marketing and the growing importance of subscription-based revenue models. In Q2 2025, subscription revenue specifically climbed 415% to $10 million. For Q3 2025, recurring subscription revenue made up 24% of total revenue. If you include revenue share arrangements in the marketing business, recurring revenue was 49% of total Q3 2025 revenue.

Gambling.com Group Limited (GAMB) - Canvas Business Model: Customer Relationships

You're looking at how Gambling.com Group Limited builds and maintains connections with its customers, which are primarily online gambling operators (B2B) and, through its marketing efforts, end-users (B2C leads).

Automated affiliate tracking and reporting systems

The core of the marketing relationship is the automated system that tracks performance for operator clients. This is quantified by the number of New Depositing Customers (NDCs) delivered.

• In the second quarter of 2025, Gambling.com Group delivered more than 108,000 NDCs to clients.
• For the third quarter of 2025, the company delivered more than 101,000 NDCs to clients.
• This Q3 2025 figure compares to 116,000 NDCs delivered in the third quarter of 2024.

Dedicated account management for key B2B operator clients

The relationship with key B2B clients is heavily focused on the high-growth Sports Data Services segment, where dedicated management and product development are key. The OpticOdds enterprise solution is a prime example of this deep engagement.

Metric	Q2 2025 Value	Q3 2025 Value
Sports Data Services Revenue	$10.0 million	$9.2 million
Sports Data Services YoY Growth	Quadrupled	304%
OpticOdds Revenue YoY Growth	N/A	Doubled

Management noted they have great relationships with operators on the data services business and that they trust Gambling.com Group to solve more problems for them. The company continues to expand the OpticOdds product and data portfolio to deliver more value to its existing customers.

Recurring subscription model for sports data services (high margin)

The shift toward subscription revenue provides high visibility and a more stable relationship structure compared to purely performance-based marketing fees. This high-margin component is the fastest growing part of the business.

• Recurring subscription revenue represented 25% of total revenue in the second quarter of 2025.
• For the first and third quarters of 2025, recurring subscription revenue represented 24% of total revenue.
• The company expected this recurring revenue to account for well over 20% of 2025 revenue.
• Inclusive of revenue share arrangements in the marketing business, total recurring revenue was 49% of total third-quarter 2025 revenue.

Omnichannel engagement via apps, email, and social media

Gambling.com Group is actively working to diversify its engagement channels beyond traditional search marketing, which faced headwinds from poor organic search dynamics in the second half of 2025.

The focus includes diversifying the go-to-market approach within the marketing business, specifically mentioning:

• Development of other marketing channels like apps.
• Engagement via email.
• Use of social media.

The company is accelerating initiatives to diversify traffic sources.

Finance: review Q4 2025 traffic source diversification spend against Q3 2025 by October.

Gambling.com Group Limited (GAMB) - Canvas Business Model: Channels

You're looking at how Gambling.com Group Limited gets its services in front of the end-user, and it's a mix of owned digital real estate and high-profile media deals. The foundation here is definitely the sheer volume of their digital footprint.

Portfolio of over 50 owned and operated websites

Gambling.com Group Limited operates a portfolio of more than 50 websites offering news, information, and connections to online casinos and promotions. These sites cover online casinos, sports betting, and fantasy sports across 19 national markets. For instance, in anticipation of Missouri legalization, they launched BetMissouri.com, which is one of these owned properties. This portfolio includes branded sites like Gambling.com, Bookies.com, and Casinos.com.

Media partnership websites (e.g., USAToday.com)

The reach extends significantly through media partnerships. The company has a partnership with Gannett to provide sports betting content via the USAToday.com network. They also have a deal with The Independent in the U.K., which is their first international media partnership, leveraging The Independent's reach of over 20.8 million monthly unique users. This is the third major media partnership, following agreements with The McClatchy Company and Gannett.

Organic search (SEO) remains a key, though challenged, channel

Organic search is a core driver, but it faced headwinds in 2025. In the third quarter ended September 30, 2025, the number of New Depositing Customers (NDCs) delivered to clients was 101,000, down from 116,000 in the third quarter of 2024. This drop reflects the impact of poor organic search dynamics, which the company noted persisted into the fourth quarter.

Paid media, social media, and email marketing

The company is actively working to diversify traffic sources away from the challenged search channel. This implies an increased reliance or investment in paid media, social media, and email marketing to acquire customers, though specific spend figures aren't broken out in the channel reports. The marketing services revenue for the third quarter of 2025 was $29.8 million, which was in line with the prior-year period.

Direct enterprise sales for sports data services (OpticOdds)

The sports data services division, which includes OpticOdds and OddsJam, is the fastest-growing segment, heavily driven by enterprise sales and recurring subscriptions. This segment is clearly a major channel for future growth visibility. Here's how the revenue split looked for the third quarter of 2025:

Channel/Service Segment	Q3 2025 Revenue Amount	Percentage of Total Revenue (Q3 2025)
Marketing Services Revenue	$29.8 million	Approximately 76%
Sports Data Services Revenue	$9.2 million	24%

The growth in this channel is stark; sports data services revenue increased 304% year-over-year in Q3 2025. For the first quarter of 2025, sports data services generated $9.9 million, a 405% increase year-over-year. Furthermore, the high-margin, recurring subscription revenue component within this segment represented 24% of total revenue in Q3 2025.

You can see the strategic shift in the full-year outlook, which was adjusted to approximately $165 million in revenue for 2025, with the sports data services business being a key driver of confidence despite the marketing headwinds.

• The company operates in 19 national markets.
• The Independent partnership reaches over 20.8 million monthly unique users.
• Sports Data Services accounted for 25% of total revenue in Q2 2025.
• Recurring subscription revenue was 24% of total revenue in Q1 2025.
• The 2025 full-year revenue guidance midpoint is between $170 million and $174 million.

Finance: draft 13-week cash view by Friday.

Gambling.com Group Limited (GAMB) - Canvas Business Model: Customer Segments

You're looking at the customer base for Gambling.com Group Limited as of late 2025. The business model clearly shows a pivot toward higher-margin, recurring revenue streams, which changes the profile of who they serve, even as the core affiliate function remains strong.

Online Gambling Operators (B2B): Casinos and Sportsbooks globally

This segment consists of the operators who pay Gambling.com Group Limited for customer acquisition (performance marketing) and data/technology solutions. The growth here is heavily influenced by the success of the acquired sports data platforms.

• The marketing business delivered over 138,000 New Depositing Customers (NDCs) to clients in Q1 2025, a 29% year-over-year climb.
• The sports data services business, which serves operators and sophisticated bettors, grew over 300% year-on-year in Q3 2025.
• In Q3 2025, revenue from sports data services reached $9.2 million, quadrupling year-on-year.
• The company expects non-SEO channels to generate more revenue than SEO for the first time in Q4 2025, indicating a diversification of the operator client acquisition strategy.

Individual Sports Bettors and Casino Players (B2C)

While Gambling.com Group Limited primarily operates on a Business-to-Business-to-Consumer (B2B2C) model, the end-user is the player. The performance of the B2C-facing digital properties, like RotoWire and OddsJam, directly reflects the size and engagement of this segment. The company's full-year 2025 revenue guidance was set between $171 million and $175 million as of Q2 2025.

Here's a look at the revenue mix that serves these end-users, based on Q1 2025 results, which shows the relative size of the casino versus sports betting audience engagement:

Customer Focus Proxy	Q1 2025 Revenue (USD)	Year-over-Year Growth
Casino Division	$24.5 million	24% increase
Sports Betting Arm	$15.4 million	68% increase

The shift in focus is clear when you look at the growth rates; sports betting engagement, as reflected in revenue, is accelerating faster than the casino vertical.

Enterprise Clients: Sports betting operators using data for risk management

This is a specific, high-value subset of the B2B segment, primarily served by the OpticOdds product, which is an enterprise solution for sportsbook operators. These clients use the data for operational needs, not just customer acquisition.

• Sports data services, which include enterprise solutions, accounted for 25% of the company's 2025 revenue as of Q3 2025.
• OpticOdds, the enterprise solution, doubled its revenue year-over-year in Q3 2025.
• Overall recurring subscription revenue, which includes these enterprise data feeds, accounted for 24% of total Q1 2025 revenue, or $9.9 million.

Land-based Casinos and Entertainment Venues (via Spotlight.Vegas acquisition)

The acquisition of Spotlight.Vegas marks a direct entry into serving land-based entities, expanding the client base beyond digital operators. This platform provides ticketing and booking services for Las Vegas attractions.

• Spotlight.Vegas generated $30 million in sales during 2024.
• The platform has partnerships in place with more than 40 clients, including entertainment venues and land-based casinos.
• The initial closing payment for the acquisition was $8 million.
• Gambling.com Group Limited anticipates this segment will contribute at least $8 million in net revenue in the 2026 full year.
• The expected incremental adjusted EBITDA from this segment for FY2026 is at least $1.4 million.

Finance: draft 13-week cash view by Friday.

Gambling.com Group Limited (GAMB) - Canvas Business Model: Cost Structure

You're looking at the cost side of the Gambling.com Group Limited equation as of late 2025. It's a mix of scaling personnel, integrating big acquisitions, and heavy spending to keep the traffic flowing.

The core operating expenses, excluding certain non-cash and acquisition-related items, showed significant growth. For the third quarter ended September 30, 2025, operating expenses adjusted for fair value movements and acquisition/restructuring-related expenses grew 30 percent to $25.7 million. This growth is largely tied to the added headcount from the recent acquisitions of Odds Holdings and Spotlight.Vegas.

Amortization expenses, which are non-cash charges reflecting the write-down of intangible assets from past deals, are a notable component. For the third quarter of 2025, the non-cash amortization of acquired intangible assets totaled $2.5 million. This is part of a larger trend, as Q1 2025 operating expenses of $28.4 million reflected a significant increase in amortization from the OddsJam and Freebets.com acquisitions.

Marketing and sales costs are dynamic, especially with the push for diversification. The Cost of Sales for the third quarter of 2025 was $3.4 million, a substantial increase from $1.7 million in the year-ago period. This reflects costs associated with the strategy to diversify traffic sources in the marketing business, plus costs from the acquired OpticOdds and OddsJam businesses. Furthermore, the revised full-year 2025 guidance explicitly accounts for an additional $1.0 million in sales costs due to the successful acceleration of these traffic diversification efforts.

Technology and infrastructure costs for data platforms, like the one brought in by Odds Holdings, are embedded within the operating expenses and acquisition-related costs, driving the overall expense base higher to support the growing sports data services segment.

Costs associated with regulatory compliance and licensing are inherent to operating in 19 national markets, though specific standalone figures for this category aren't itemized separately in the most recent public disclosures.

Here's a look at the key cost figures we can pull from the Q3 2025 reporting:

Cost Category Component	Amount (Q3 2025)	Context/Driver
Adjusted Operating Expenses	$25.7 million	Excludes fair value movements and acquisition/restructuring costs; driven by headcount additions.
Non-Cash Amortization of Intangible Assets	$2.5 million	Related to recent acquisitions like Odds Holdings.
Cost of Sales	$3.4 million	Reflects traffic diversification strategy and acquired business costs.
Full-Year Diversification Cost Adjustment	$1.0 million (additional)	Included in the revised 2025 full-year guidance for sales costs.
Adjusted EBITDA (for margin context)	$13.0 million	Reflects the impact of higher cost of sales and marketing expenses.

You can see the pressure on margins, with the Q3 2025 Adjusted EBITDA margin at 33 percent, down from 39 percent in the prior-year period, directly reflecting those higher marketing and sales expenses.

The key cost drivers for Gambling.com Group Limited are:

• Added headcount from acquisitions, notably Odds Holdings.
• Accelerated traffic diversification spending in the marketing business.
• Non-cash amortization from the January 1, 2025, acquisitions.
• Increased cost of sales associated with the new data services segment.

Finance: draft 13-week cash view by Friday.

Gambling.com Group Limited (GAMB) - Canvas Business Model: Revenue Streams

You're looking at how Gambling.com Group Limited actually brings in the money, which is key when assessing its current valuation. The revenue mix is clearly shifting, moving beyond pure affiliate marketing toward higher-margin, more predictable data services. This is a critical evolution for the business model.

The core of the revenue generation still sits with Performance Marketing (Affiliate). This stream operates primarily on two models: Cost Per Acquisition (CPA) and Revenue Share. The CPA model means Gambling.com Group gets a fixed fee for every new depositing customer (NDC) referred to an operator. The Revenue Share model provides an ongoing percentage of the net gaming revenue generated by those referred players. While this remains the largest segment, its growth has slowed, with Q2 2025 marketing services revenue only increasing by 3% year-over-year to $25 million.

The strategic pivot is evident in the Sports Data Services segment. This is where the recurring subscription revenue lives, fueled by recent acquisitions like OddsJam and OpticOdds. The CEO has been clear that this stream is expected to account for well over 20% of the full-year 2025 revenue. In the second quarter of 2025, this segment soared, bringing in $10 million, a 415% increase year-over-year, and representing 25% of the total quarterly revenue.

To give you a clear picture of the revenue composition as of the latest reported quarter, here's the breakdown for Q2 2025:

Revenue Stream	Q2 2025 Revenue (USD)	Year-over-Year Growth (Q2 2025)	Notes
Performance Marketing (Marketing Services)	$25 million	+3%	Primarily CPA and Revenue Share commissions.
Sports Data Services (Subscription)	$10 million	+415%	Recurring subscription revenue from data, analytics, and syndication.
Advertising and Other Sources	$4.6 million	Not specified	Includes platform advertising, onboarding fees, and ticketing commissions.
Total Q2 2025 Revenue	$39.6 million	+30%	Record quarterly revenue.

The Advertising and Other Sources stream is a smaller, but still present, component. For the second quarter of 2025, this segment contributed $4.6 million to the top line. This revenue is recognized on a straight-line basis over the contract term and includes non-player-referred arrangements like advertising placements on Gambling.com Group Limited's platforms.

Looking at the full-year 2025 projections, the company has recently adjusted its outlook, reflecting challenges in organic search performance but also growth from new ventures like the Spotlight.Vegas acquisition. The latest guidance for the full year 2025 is:

• Full-year 2025 revenue is projected to be approximately $165 million.
• Full-year 2025 Adjusted EBITDA is projected to be $58 million.

The shift to subscription revenue is a strategic move to de-risk the business from the volatility of search engine algorithm changes, which definitely impacted the marketing segment in Q3 2025. The recurring nature of the data services helps smooth out the overall financial profile. Finance: draft 13-week cash view by Friday.