Kambis vd: "Fantastisk marginal under VM"

🎥 Jul 22, 2026 📺 EFN Ekonomikanalen ⏱ 7m 👁 135 views

Sportboksunderleverantören Kambi höjer prognosen för resten av året. Vd Werner Becher intervjuas i Börsfrukost. ______________________________ Gillar du videon? Prenumerera på EFN på YouTube: https://www.youtube.com/efnekonomikan... Besök gärna http://www.efn.se för mer av vårt innehåll. Ladda ned vår EFN app i App Store eller i Google play: https://apps.apple.com/us/app/efn/id6... https://play.google.com/store/apps/de... X: https://x.com/efntv eller https://x.com/finansmagasinet Facebook: / efnekonomikanalen Instagram: / efnekonomikanalen Linkedin: / efn Tiktok: / efn_ek...

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About Werner Becher

Werner Becher, CEO of Kambi, stated that the company had a "fantastic" second quarter, citing a 13% increase in revenue and a doubling of EBITDA year-on-year. He attributed the strong performance to the World Cup, during which Kambi processed over €1 billion in turnover and more than 100 million bets on its turnkey sportsbook product. Becher noted that the company operated the World Cup on an 18% margin, which he described as "incredibly high" and an "outstanding performance." As a result, Kambi raised its full-year EBITDA guidance from €20-25 million to €23-27 million. Becher also addressed the impact of prediction markets on the sports betting industry. He said that Kambi, which is "100% fully focused on regulated markets," has seen "zero impact" from prediction markets in the US so far, though he acknowledged that these competitors are making customer acquisition more expensive in some states. Additionally, Becher discussed Kambi's new "odds feed plus" service, which targets the 70% of the regulated sports betting market currently served by in-house sportsbooks, noting that while this revenue stream is smaller per operator, it opens up a larger addressable market.

Source: AI-verified profile updated from Werner Becher's recent appearances. Browse all interviews →

Transcript (19 segments)

Werner Becher0:00

Q2 has been a fantastic business period for Kambi as our report I think this morning shows very clearly. We had a great World Cup. This morning we posted a 13% increase in revenue and we more than doubled profits, so EBITDA year-on-year. As a result, we increased our EBITDA guidance today from 20 to 25 million before up to 23 to 27 millions.

Interviewer0:28

Yeah, fantastic. I understood you were very pleased with the World Cup and could you describe a bit of the patterns and type of bets that you had and what how that impacts your margins?

Werner Becher0:43

Yeah. So we had more than a billion euro turnover on our turnkey sportsbook product only during this tournament with more than 100 million bets processed and we see a clear trend out there that the sport fans are engaging more with higher margin products, so bet builders. Only in the final, so in the last game of this tournament, we had more than 100,000 of different combinations of bets on this only one game. So we see a trend to higher margin products, which is underlined by the quality of our product, of course, because you need a leading product to offer these more complex products.

Interviewer1:23

Yeah. So I mean, this increased player activity and people have money on their accounts. Will this spill over to the next quarter and continues of the year that you have actually activated so many new players coming in?

Werner Becher1:39

Yeah. So we think this will happen. At least the patterns of the past showed that this happens. Clearly for a betting supply like us, a World Cup is more one-time event, right? So we have an event like this only every four years, but what we usually see is that our partners, the operators out there, they acquire a lot of new customers. So, we always see a peak in activity and also revenues also after tournaments like a World Cup.

Interviewer2:08

Yeah. Um one has to ask. I mean, prediction market has exploded, especially in the US. How is this impacting you? Could you sell any of your models to these type of players or could they be customers or how do you see them?

Werner Becher2:23

Yeah. So, first of all, Kambi is 100% fully focused on regulated markets only. And in these regulated markets in the US, so far we have seen zero impact from prediction markets. I think prediction markets are of course very successful in the unregulated markets in the US. And these markets are considered as illegal from the licensed betting operators and also of course from us as a supplier. We could engage with them. We could offer models. We could act as market maker. But being licensed in more than nine jurisdictions globally and as it's not fully clear if prediction markets will be soon regulated or not, at the moment we can't engage without risking our licenses in many other states and risking also our business.

Interviewer3:12

Yeah. So, so you're saying that your customers has not I mean experienced that they are losing market share to these prediction markets players.

Werner Becher3:22

No, not at all. Questionable if it eventually draw down a little bit the growth we've seen in many US states. So, there is some impact on growth, but definitely there is no decrease in revenues. But of course, these prediction market guys, they invest a lot of money in marketing. They make customer acquisition more expensive in many states in the US. So, we see some impact coming, but so far we have seen nothing.

Interviewer3:50

Yeah. So, so what makes you so confident that you can raise the target for the full year? What is it in the business now that makes you that confident?

Werner Becher4:00

Yeah. So, first of all, the World Cup, as mentioned, was a one-time effect. It will transition also in the next few quarters, of course. But with the World Cup was better than expected. But we've also seen a product, a very engaging product, a reliable product, which we are very proud of, which also will help us, of course, to acquire new customers going forward. We operated the World Cup on a 18% margin, so incredibly high margin. Following probably the earnings calls of other companies operators in the next few weeks, you will see that this is an outstanding performance we delivered. So, we clearly have the leading product, and not only an average product out there. And this is, I think, key going forward also for our success.

Interviewer4:46

Okay. I saw you were opening up now with an operator in Alberta. Can you talk about that market just a little bit? What kind of expectations do you have?

Werner Becher4:55

Yeah, Alberta. So, Canadian province with around 5 million people living there. An interesting new market. Not a very, very big market, but we haven't seen a lot of new markets legalizing and licensing in the recent quarter. So, we are very happy about each and any new legislation coming up, of course. We already live with Rush Street, our biggest customer in the US, and we launch soon with several more customers in the state in this province as soon as operators have completed their licensing.

Interviewer5:28

Um I saw yesterday in the deal with Retabet on the odds feed plus. Um are you expecting to do any more disclosures in terms of the different type of revenue streams and the this type of new products? Because it sounds it looks like with the deals announced that you're gaining true traction with it and I think long-term is a strategic important part of the business.

Werner Becher5:54

Yeah, fully agree. Good question. So, today our split is around 90% on our traditional turnkey sports book product and 10% on our modular products also including our front end. So, it's not only odds feed. In about 2 to 3 years from now, we expect the split to be more like 80/20. So, we expect in continued growth on the turnkey but even more growth traction on the odds feed side. We also our pipeline is looking very good. So, odds feed is a new area for us, a very important new product area for us because on the regulated sports betting market, only 30% of the market size is delivered from B2B providers like us. 70% of turnkey sports book business is running on in-house sports books. So, this is a time we couldn't attack before we saw our turnkey because operators running in-house sports book had no need for our services. With our odds feed plus service, we can also sell now this 70% of the rest of the market.

Interviewer6:56

Sorry, is there any difference in terms of the margins and profitability of this type of revenue streams compared to turnkey? Just for an understanding.

Werner Becher7:04

Yeah, of course. I think selling a full turnkey product compared to an odds feed product, for odds feed you get less than half of the revenues I would say on average. So, it's a smaller chunk of business you get from an operator but clearly we are targeting with the in-house sports books depicted here 0 to 1 operators here. So, a smaller ratio from a bigger chunk of turnover also makes some sense.

Interviewer7:30

It's very interesting hearing everything about this development and your company and the results and thank you very much Werner for being in the program.

Werner Becher7:48

Mhm.