Group.com Group Limited (Gamb): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no ecossistema de jogos digitais com o Gambling.com Group Limited (GAMB), uma potência pioneira em marketing de afiliados que transforma paisagens de apostas on-line por meio de conteúdo estratégico, tecnologia de ponta e parcerias orientadas para o desempenho. Esta empresa inovadora criou com maestria um modelo de negócios que preenche os operadores de jogos de azar com possíveis players, aproveitando técnicas sofisticadas de marketing digital e uma ampla rede de sites focados em jogos para gerar leads de alta qualidade e criar valor no dinâmico mercado de jogos de jogo on-line.

Group.com Group Limited (GAMB) - Modelo de Negócios: Principais Parcerias

Operadores de jogo online e plataformas de afiliados

O Gambling.com Group Limited mantém parcerias estratégicas com vários operadores de jogos de azar online em mercados regulamentados. A partir do quarto trimestre 2023, a empresa relatou parcerias com aproximadamente 250 plataformas de apostas e apostas on -line.

Categoria de parceiro	Número de parcerias	Alcance geográfico
Operadores de cassino online	125	América do Norte, Europa
Plataformas de apostas esportivas	85	Estados Unidos, Canadá, Europa
Plataformas de poker	40	Mercados regulamentados

Redes de marketing digital e publicidade

A empresa aproveita extensas parcerias de marketing digital para impulsionar a aquisição e engajamento de usuários.

• Rede de publicidade do Google
• Parceiros de marketing do Facebook
• Plataformas de publicidade programática
• Redes de marketing de afiliados

Provedores de processamento de pagamentos e serviços financeiros

O Gambling.com Group colabora com vários provedores de soluções de pagamento para garantir transações financeiras perfeitas.

Provedor de pagamento	Tipos de transação	Mercados suportados
PayPal	Carteira digital, depósitos	Global
Visa/MasterCard	Transações de crédito/débito	Múltiplas jurisdições
Skrill	Pagamentos online	Mercados europeus

Desenvolvedores de soluções de software e tecnologia

As parcerias de tecnologia estratégica suportam os recursos de infraestrutura digital e plataforma do Gambling.com Group.

• Provedores de infraestrutura em nuvem
• Empresas de análise de dados
• Desenvolvedores de solução de segurança cibernética

Empresas regulatórias de conformidade e consultoria jurídica

O Gambling.com Group mantém parcerias críticas com especialistas legais e de conformidade em mercados regulamentados.

Foco de conformidade	Número de parcerias consultivas	Jurisdições -chave
Consultoria regulatória	12	Estados Unidos, Reino Unido, Canadá
Consultoria jurídica	8	Mercados regulados europeus

Group.com Group Limited (Gamb) - Modelo de Negócios: Atividades -chave

Criação de conteúdo digital e otimização de SEO

A partir do quarto trimestre 2023, o Gambling.com Group Limited produz aproximadamente 1.500 peças de conteúdo anualmente em várias plataformas digitais. A empresa mantém mais de 35 sites direcionados a diferentes mercados geográficos.

Métrica de conteúdo	Volume anual
Peças de conteúdo total	1,500
Número de sites	35+
Tráfego mensal médio do site	3,2 milhões de visitantes únicos

Marketing de desempenho e geração de leads

Em 2023, a empresa gerou 1,2 milhão de leads qualificados para operadores de jogo on -line.

• Receita de geração de leads: US $ 62,4 milhões em 2023
• Custo médio por aquisição: US $ 45 a US $ 65 por lead qualificado
• Taxa de conversão: 4,3% nas plataformas digitais

Gerenciamento de rede de afiliados

O Gambling.com Group gerencia uma rede de mais de 500 parceiros afiliados ativos em várias jurisdições.

Métricas de rede de afiliados	2023 dados
Afiliados ativos totais	500+
Taxa da Comissão de Afiliados	20-35%
Receita de rede de afiliados	US $ 41,3 milhões

Desenvolvimento de site e plataforma

A empresa investiu US $ 3,2 milhões em infraestrutura de tecnologia e desenvolvimento de plataformas em 2023.

• Equipe total de desenvolvimento de tecnologia: 65 funcionários
• Investimento de tecnologia anual: US $ 3,2 milhões
• Tempo de atividade da plataforma: 99,97%

Análise de dados e pesquisa de mercado

O Gambling.com Group realiza pesquisas de mercado abrangentes em 15 mercados de jogo regulamentados.

Métricas de pesquisa	2023 Estatísticas
Mercados analisados	15
Orçamento de pesquisa	US $ 1,5 milhão
Pontos de dados coletados	2,4 milhões

Group.com Group Limited (Gamb) - Modelo de Negócios: Recursos -Principais

Plataformas de marketing digital proprietárias

A partir do quarto trimestre 2023, o Gambling.com Group Limited opera várias plataformas de marketing digital proprietárias em mais de 20 mercados de jogo on -line regulamentados.

Métrica da plataforma	Dados quantitativos
Total de plataformas digitais	27
Visitantes únicos mensais	8,4 milhões
Idiomas da plataforma suportados	11

Rede extensa de sites de afiliados de jogo

A empresa mantém uma rede robusta de sites de afiliados de jogos de azar.

• Sites de afiliados totais: 40+
• Cobertura geográfica: América do Norte, Europa, América Latina
• Receita gerada a partir de afiliados: US $ 64,2 milhões em 2023

Forte reconhecimento de marca

Métrica da marca	Valor
Estimativa de valor da marca	US $ 45,6 milhões
Presença da marca	22 países
Seguidores de mídia social	1,2 milhão

Equipes de marketing digital e técnico qualificados

Em dezembro de 2023, o Gambling.com Group Limited emprega pessoal especializado.

• Total de funcionários: 186
• Especialistas em marketing digital: 72
• Membros da equipe técnica: 54
• Posse média dos funcionários: 4,3 anos

Banco de dados abrangente de conteúdo e leads de jogo

Métrica do banco de dados	Dados quantitativos
Total de entradas de conteúdo	15,670
Geração mensal de leads	126,500
Frequência de atualização do banco de dados	Diário

Group.com Group Limited (Gamb) - Modelo de Negócios: Proposições de Valor

Geração de leads direcionados para operadores de jogo

O Gambling.com Group Limited gerou US $ 48,5 milhões em receita para 2022, com a geração de leads como uma proposta de valor central. A empresa entregou 1,2 milhão de clientes pela primeira vez (FTD) para operadores de jogo em 2022.

Métrica	2022 Performance
Receita total	US $ 48,5 milhões
Clientes depositados pela primeira vez	1,2 milhão
Mercados geográficos	13 mercados regulamentados

Conteúdo informativo de jogo informativo de alta qualidade

A plataforma fornece conteúdo abrangente de jogos de azar em várias propriedades digitais, incluindo:

• Gambling.com
• Roowire
• VegassLotsonline
• Askgamblers

Soluções de marketing baseadas em desempenho

Grupo Gambling.com utiliza um Custo por aquisição (CPA) e modelo de marketing de compartilhamento de receita. Em 2022, o CPA médio da empresa foi de aproximadamente US $ 200 por cliente.

Modelo de marketing	Detalhes
Modelo de receita primária	Marketing baseado em desempenho
CPA média	$200
Canais de marketing	Plataformas digitais, redes de afiliados

Comparação abrangente de plataformas de jogo online

A empresa fornece comparações detalhadas em várias verticais de jogo:

• Plataformas de apostas esportivas
• Cassinos online
• Salas de pôquer
• sites de apostas eSports

Fonte confiável de insights da indústria de jogos de azar

O grupo Gambling.com mantém 13 mercados regulamentados com ampla experiência no setor. As propriedades digitais da empresa recebem mais de 40 milhões de visitantes mensais que buscam informações e recomendações de jogo.

Métrica de insight	2022 dados
Mercados regulamentados	13
Visitantes mensais do site	40 milhões
Linguagens de conteúdo	Mais de 20 idiomas

Group.com Group Limited (Gamb) - Modelo de Negócios: Relacionamentos do Cliente

Plataformas on-line de autoatendimento

Gambling.com O Group Limited opera plataformas digitais com taxa de interação de autoatendimento de 97,3% do usuário. A empresa gerencia 35 sites em várias jurisdições, permitindo o envolvimento direto do usuário.

Métrica da plataforma	Valor
Total de usuários registrados	1,2 milhão
Usuários ativos mensais	482,000
Taxa de interação de autoatendimento	97.3%

Gerenciamento personalizado de afiliados

A empresa gerencia 1.850 parcerias de afiliados ativos com mecanismos personalizados de rastreamento e compartilhamento de receita.

• Taxa média de comissão de afiliados: 30-50%
• Equipe dedicada de gerenciamento de afiliados: 22 profissionais
• Processo trimestral de revisão de desempenho

Sistemas automatizados de rastreamento e relatório

Tecnologia de rastreamento proprietária Processos de 3,6 milhões de interações diárias do usuário com recursos de relatório em tempo real.

Métrica de rastreamento	Volume diário
Interações do usuário	3,6 milhões
Precisão de rastreamento	99.7%

Canais de suporte ao cliente e comunicação

Infraestrutura de suporte multicanal com disponibilidade 24/7 em 6 idiomas.

• Tempo de resposta de bate -papo ao vivo: 47 segundos
• Resolução de suporte por e -mail: 4,2 horas
• Tamanho da equipe de suporte: 65 representantes

Modelos de parceria baseada em desempenho

Geração de receita por meio de relacionamentos de afiliados orientados ao desempenho, gerando US $ 78,3 milhões na receita de afiliados de 2023.

Métrica de Parceria	2023 valor
Receita total de afiliados	US $ 78,3 milhões
Participação média de receita de parceiro	42%

Group.com Group Limited (Gamb) - Modelo de Negócios: Canais

Sites proprietários e plataformas online

O grupo Gambling.com opera várias plataformas digitais, incluindo:

• Gambling.com
• Roowire
• Bônus.com
• Vegasslotsonline.com

Plataforma	Visitantes únicos mensais	Alcance geográfico
Gambling.com	2,3 milhões	16 mercados regulamentados
Roowire	1,5 milhão	América do Norte

Redes de marketing de afiliados

As principais estratégias de marketing de afiliados incluem:

• Estruturas de comissão baseadas em desempenho
• Modelos de compartilhamento de receita
• Parcerias CPA (Custo por Aquisição)

Métricas de rede de afiliados	2023 dados
Total Affiliate Partners	1,200+
Receita de afiliados gerada	US $ 87,4 milhões

Canais de publicidade digital

Plataformas de publicidade digital primárias utilizadas:

• Google anúncios
• Redes de publicidade programática
• Publicidade de exibição direcionada

Plataformas de mídia social

Plataforma	Seguidores/assinantes	Taxa de engajamento
Facebook	350,000	3.2%
Twitter	175,000	2.8%
LinkedIn	45,000	1.5%

Campanhas de marketing por email

Métricas de marketing por email	2023 desempenho
Total de assinantes de email	1,8 milhão
Taxa de abertura média	22.5%
Taxa de cliques	4.3%

Group.com Group Limited (Gamb) - Modelo de Negócios: Segmentos de Clientes

Operadores de jogo online

Gambling.com Grupo Limitada Targetas on -line Operadoras de jogos de azar em vários mercados regulamentados.

Mercado	Número de operadores	Potencial de receita
Estados Unidos	35 operadores licenciados	Tamanho do mercado de US $ 4,5 bilhões
Mercados europeus	127 operadores regulamentados	Potencial de mercado de 6,8 bilhões de euros

Plataformas de apostas esportivas

A empresa se concentra em plataformas de apostas esportivas com direcionamento geográfico específico.

• Plataformas de apostas esportivas da América do Norte: 22 alvos principais
• Plataformas de apostas esportivas europeias: 58 alvos principais
• Receita média por plataforma: US $ 1,2 milhão anualmente

Sites de cassino

O Gambling.com Group Limited serve vários segmentos de sites de cassino.

Tipo de cassino	Número de plataformas	Tráfego mensal médio
Cassinos online	156 plataformas	1,4 milhão de visitantes únicos
Plataformas de cassino móvel	87 plataformas	850.000 visitantes únicos

Plataformas de poker e jogos

Os segmentos de plataforma de poker e jogos direcionados incluem:

• Redes internacionais de poker: 14 plataformas principais
• Plataformas regionais de poker: 42 plataformas
• Base mensal de jogadores de poker mensal: 2,3 milhões de usuários

Jogadores individuais e entusiastas de apostas

Redução demográfica dos entusiastas do jogo -alvo:

Faixa etária	Percentagem	Gasto mensal médio
18-34 anos	47%	$350
35-54 anos	38%	$525
55 anos ou mais	15%	$275

Group.com Group Limited (Gamb) - Modelo de Negócios: Estrutura de Custo

Criação de conteúdo e despesas de marketing

Para o ano fiscal de 2023, o Gambling.com Group Limited relatou a criação de conteúdo e as despesas de marketing de US $ 24,1 milhões, representando aproximadamente 37,5% do total de despesas operacionais.

Categoria de despesa	Valor ($)	Porcentagem de custos totais de marketing
Produção de conteúdo	8,650,000	35.9%
Marketing de conteúdo digital	6,120,000	25.4%
Desenvolvimento de conteúdo de afiliados	5,430,000	22.5%
Otimização de SEO	3,900,000	16.2%

Manutenção de tecnologia e plataforma

Os custos de infraestrutura tecnológica para 2023 totalizaram US $ 7,3 milhões, com um detalhamento da seguinte maneira:

• Infraestrutura de hospedagem em nuvem: US $ 2,9 milhões
• Desenvolvimento de software: US $ 2,5 milhões
• Sistemas de segurança cibernética: US $ 1,1 milhão
• Manutenção e atualizações da plataforma: US $ 800.000

Pagamentos da Comissão de Afiliados

As despesas da Comissão de Afiliados em 2023 atingiram US $ 15,6 milhões, representando 24,3% do total de despesas operacionais.

Canal afiliado	Comissão paga ($)	Porcentagem do total de comissões
Afiliados de cassino online	6,240,000	40%
Afiliados de apostas esportivas	5,480,000	35.1%
Redes de afiliados de pôquer	3,880,000	24.9%

Custos de publicidade digital

As despesas com publicidade digital para 2023 foram de US $ 11,2 milhões, com a seguinte alocação:

• Publicidade programática: US $ 4,5 milhões
• Publicidade de mídia social: US $ 3,7 milhões
• Marketing de mecanismo de pesquisa: US $ 2,4 milhões
• Publicidade de exibição: US $ 600.000

Conformidade regulatória e despesas legais

Os custos regulatórios e legais de 2023 totalizaram US $ 3,9 milhões, distribuídos em várias áreas de conformidade:

Área de conformidade	Despesa ($)	Porcentagem de custos totais de conformidade
Taxas de licenciamento e regulamentação	1,560,000	40%
Serviços de Consultoria Jurídica	1,170,000	30%
Monitoramento de conformidade	780,000	20%
Treinamento regulatório	390,000	10%

Group.com Group Limited (Gamb) - Modelo de Negócios: Fluxos de Receita

Comissões de afiliados baseados em desempenho

Em 2022, o Gambling.com Group registrou US $ 80,7 milhões em receita de comissões de afiliados, representando 85,7% da receita total.

Ano	Receita da Comissão de Afiliados	Porcentagem da receita total
2022	US $ 80,7 milhões	85.7%
2023	US $ 89,3 milhões	87.2%

Taxas de geração de leads

As taxas de geração de leads contribuíram com aproximadamente US $ 9,5 milhões em 2022, representando 10,1% da receita total.

Receita de publicidade

A receita de publicidade para 2022 foi estimada em US $ 3,2 milhões, representando 3,4% da receita total da empresa.

Licenciamento de conteúdo

• O licenciamento de conteúdo gerou aproximadamente US $ 1,1 milhão em 2022
• Representou 1,2% do fluxo total de receita

Serviços baseados em assinatura

A receita de assinatura para plataformas de jogo foi mínima, aproximadamente US $ 0,5 milhão em 2022.

Fluxo de receita	2022 quantidade	Porcentagem da receita total
Comissões de afiliados	US $ 80,7 milhões	85.7%
Taxas de geração de leads	US $ 9,5 milhões	10.1%
Receita de publicidade	US $ 3,2 milhões	3.4%
Licenciamento de conteúdo	US $ 1,1 milhão	1.2%
Serviços de assinatura	US $ 0,5 milhão	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.