With compliance issues running rampant throughout the gambling affiliate industry, Wag.io has set out to change the online gambling affiliate space forever.
Affiliate managers in the online gambling space continue to struggle with compliance, with many companies coming up short over the past 12 months.
With many brands restructuring their affiliate programs including Jackpotjoy, Paddy Power/ Betfair and 888 there is a significant shift in the space. Ladbrokes, for example, has implemented stricter oversight of affiliates after the CMA contacted the company about misleading bonuses and offers.
Other companies have taken an entirely different approach, realising that running an affiliate marketing program is too much of a risk. Sky Betting & Gaming (SB&G) terminated its popular “Affiliate Hub” run affiliate program as of October 2, 2017, citing “growing regulatory concerns.”
Led by CEO Roo Wright, Wag.io is set to change the way the online gambling affiliate space works for the betterment of both operators and affiliates. Here’s what he had to say about the current state of the industry:
“It’s a shame to see so many brands, big and small, running into issues regarding affiliate compliance. Even worse, it’s never good to see once popular affiliate programs closing down due to an inability to monitor affiliate activity.”
Wag.io uses Artificial Intelligence to power its bespoke web application, affiliate managers can use the application to watch over affiliates promotional content including text and banner promotions, and identify potential issues with compliance and brand guidelines for the operator’s brands.
“Wag.io is constantly on the lookout on behalf of brands,” added Wright. “If everything checks out with your affiliates, there’s nothing to worry about. However, if a problem is spotted, the affiliate manager receives an alert through the application interface.”
Wag.io helps affiliate managers with the four key job responsibilities: manage, find, watch, and report.
The manage functionality in the Wag.io application acts as a fully featured CRM. The CRM enables an affiliate manager to add affiliates, look at the assets of an affiliate including their best ranking web pages and then build deals that can be sent to the affiliate for their acceptance. All communications including emails and tasks that focus around an affiliate are all stored for easy access and a record of communications giving you a complete paper trail.
Wag.io was designed to maximise affiliate manager efficiency, boost profits, and dramatically reduce the need to manually track affiliate compliance.
With this tool on their side, affiliate managers can work more effectively and achieve greater results, all the while keeping a steady eye on affiliate compliance.
Click Profits Ltd the company behind Wag.io launches the product in November and is currently taking meeting requests for demos at both BAC and SIGMA in the same month.
For more information on the company and the way the technology works, you can visit Wag.io online.
Catena Media acquires US online sports affiliation company Lineups.com
Catena Media plc, an industry leader in online lead generation, has acquired 100 percent of the shares in Lineups.com, strengthening Catena Media’s leading position in the growing US betting market. Lineups.com is an online sports affiliation company specialising in analytics, betting predictions and tools. The total purchase price amounts to USD 39.6 million, payable in cash in three instalments during a two-year period. An additional contingent cash payment of USD 0.5 million is payable if certain requirements are fulfilled within three years of the transaction date.
Lineups.com supports bettors by providing confirmed and projected starting lineups and rosters for the NFL, NBA, MLB, NHL, US sports leagues and for fantasy sports. The website considers all kinds of available player and team information, including injuries, news, performance and trends. Lineups.com has a strong market position in most of the regulated US states, including the recently launched states of Michigan and Virginia.
Lineups.com recorded sales of approximately USD 7.5 million in the last 12 months to 30 April 2021. Calculated for the first quarter of 2021, the company’s sales corresponded to roughly 10 percent of Catena Media’s total revenue. As Lineups.com is a sports-focused affiliation product, its sales can be expected to fluctuate significantly with the US sports betting calendar.
The purchase price represents a total cash payment of USD 39.6 million, to be payable in three instalments: USD 25 million on closing, USD 9.6 million on the first anniversary and USD 5 million on the second anniversary of the closing date. In addition, a contingent cash payment of USD 0.5 million will be due if the state of New York allows sports betting within three years of the closing date and certain revenue thresholds are met. No material conditions exist in respect of the transaction’s closure. The acquisition will have a direct positive effect on Catena Media’s EBITDA as of the consolidation date on 4 May 2021.
Michael Daly, CEO Catena Media, commented: “The acquisition of Lineups.com strengthens Catena Media’s leading position in the growing US betting market with a complementary product that fits perfectly into our existing US portfolio. It gives us a second, even stronger, national sports betting affiliation site, alongside thelines.com. This will allow us to capture more market share across North America, as well as to take advantage of shared tools across multiple Catena Media sites. Sam Shefrin, the seller and founder of Lineups.com, will bring his industry and technology focus to the Catena Media team and will work with us for the near future as an exclusive consultant to the business.”
Better Collective acquires leading US sports betting media platform, Action Network, for 240 mUSD
With the acquisition of Action Network, Better Collective gains clear market leadership within sports betting media and affiliation in the US and now expects to increase its revenues in the US to more than 100 mUSD by 2022.
Sports betting media group, Better Collective, today announces that it has signed an agreement to acquire 100% of the shares in Action Network, Inc. (“Action”) for 240 mUSD (198 mEUR) on a cash and debt free basis. Founded in 2017 and launched in 2018, Action is uniquely positioned in the US market as the premium sports content and product destination for US sports bettors. A trusted source for sports fans, Action’s media platforms provide an enhanced experience for its users through original sports news content, premium insights, deep menus of odds and proprietary betting tools and data. Action’s diverse revenue model includes a rapidly-growing affiliate marketing business focused on customer acquisition for betting operators in the US as well as subscription products, anchored by Action Pro, Action Labs and Fantasy Labs.
Action continues to benefit from the expanding legal sports betting market in the US. In 2021, Action is expected to achieve revenues approaching 40 mUSD, an increase of over 100% year-on-year, while also generating positive operational earnings in 2021. As more states legalize online sports betting, the potential to further deepen and expand Action’s commercial partnerships with large US-based sportsbooks such as BetMGM, DraftKings, FanDuel and PointsBet is significant. Action is headquartered in New York, and has approximately 100 employees.
The purchase price amounts to 240 mUSD (198 mEUR) on a cash and debt free basis and will be settled in a cash payment and a 12 mUSD issuance of new Better Collective (BETCO.ST) shares to Action’s management, key employees and certain other individuals. 10 mUSD of the cash payment will be paid on a deferred basis as settlement of certain existing share options in Action. The number of Better Collective shares issued will be determined by the volume-weighted BETCO.ST share price 5 trading days prior to the date of this announcement. Further, the issued Better Collective shares will be subject to a lock-up of between 6 and 24 months following completion of the transaction.
The cash component of the purchase price will be provided through bank financing.
The acquisition is subject to customary regulatory approvals and is expected to be completed in Q2 2021.
Better Collective in the US
While the US sports betting market has grown rapidly since the repeal of the Professional and Amateur Sports Protection Act (PASPA) removed a federal ban on online gambling, only 13 states have legalized online gambling at this point. Many more are expected to follow in the coming years, with the addressable market significantly expanding as a result. Total online sports betting revenues in the US are forecasted to reach 4 bnUSD in 2022 and amount to nearly 40 bnUSD in 2033*.
Following the execution of Better Collective’s acquisition strategy and ongoing investments in the US market, Better Collective’s US business has developed successfully, with high growth and a rapid increase in profitability. The acquisition of Action consolidates Better Collective’s leading position in the affiliate and customer delivery verticals within online sports betting, enabled through a number of strong product platforms. In light of this, and given the continued pace of new states regulating, Better Collective expects the US market to continue growing and its US revenues to surpass 100 mUSD by 2022, with positive and increasing operational earnings.
Action will become an integral part of Better Collective US and will continue to operate as a separate business unit with its current brands, management team, and employees, led by CEO Patrick Keane who will report to Group Management through US CEO, Marc Pedersen. Action will integrate with Better Collective’s current organization where relevant in order to generate efficiencies.
Jesper Søgaard, CEO of Better Collective, says:
“I am thrilled to welcome Action and its employees to Better Collective. This acquisition, which is the largest in Better Collective’s history, gives us a leading position within affiliation in the US and a strong foundation for profiting from the continuous regulation of the US betting market. We add three new, very well positioned US sports media brands to our portfolio and welcome around 100 new colleagues, together representing an invaluable pool of knowledge and expertise on the US sports betting media market. By all accounts, this is a great day for Better Collective.”
Patrick Keane, CEO of Action, says:
“Today marks a great achievement in the history of Action. In just a few years, our team has managed to build a leading sports betting product and media business in the US market, making us attractive to a leading international player. I am thrilled about this outcome for our employees and investors and we look forward to continuing to forge great relationships with our league, media and sportsbook partners. Under Better Collective’s ownership, we become part of a company with many years of experience and all the resources necessary to further grow our position and develop our offering, to ultimately enhance the betting and entertainment experience for sports fans. We gain new colleagues, career paths and perspectives. I’m looking very much forward to the journey ahead. ”
Better Collective will consolidate Action into the Better Collective Group from the time of closing. In connection with the acquisition, Better Collective is updating its Financial Targets for 2021:
- Total group revenue is now expected to exceed 180 mEUR (previously more than 160 mEUR); and
- Operational profit is now expected to exceed 55 mEUR (previously more than 50 mEUR).
Better Collective will share more details in connection with its Q1 2021 earnings report that will be released on May 12, 2021.
The acquisition of Action will bring Better Collective’s estimated debt leverage (Net Interest Bearing Debt/EBITDA) above the company’s financial target of <3.0. Due to Better Collective’s strong operating cash flow, the Board of Directors has decided that for the time being, it is acceptable for the company’s debt leverage to exceed the financial target of 3.0, which target remains in place for 2021. The Board will therefore decide upon any potential changes to the company’s long term capital structure in due course.
Morgan Stanley acted as sole financial advisor, Bruun & Hjejle and GreenbergTraurig acted as legal advisors, and PwC acted as accounting and tax advisor in connection with the acquisition for Better Collective. Nordea Bank will be providing financing to facilitate the closing of the transaction.
Moelis & Company LLC acted as sole financial advisor and Venable LLP acted as legal advisor to Action. Gibson, Dunn & Crutcher LLP acted as advisors to The Chernin Group, the largest shareholder of Action.
FortuneJackpots announces new Affiliate Program UK Licenced online casino under new management
Fortunejackpots.com has today announced a new partnership with GamingAffiliates.com. This partnership will enable FortuneJackpots to expand their reach within the UK market, under new ownership and an entirely new affiliate management team.
“This is a really exciting time for GamingAffiliates.com. We are growing quickly and adding FortuneJackpots into our portfolio is a great partnership for us. We are specialists in the English-speaking markets, so FortuneJackpots is a perfect match with their UK and MGA licenced casino,” says Claire Wellard, Affiliate Director at GamingAffiliates.com. “The brand has everything affiliates are looking for in terms of payment solutions, conversion rates, game providers and the rates are competitive for affiliates”.
“The affiliate software has everything we were looking for, and GamingAffiliates.com meets more of our expectations not only with the technology, but also the experienced team behind it,” says Liam Carr, CDO at FortuneJackpots. “The increased exposure and brand awareness in two months has been incredible and we are looking forward to a continued partnership”
The benefits of this new partnership include:
Full-service Affiliate Management of FortuneJackpots
Exposure to the top UK & CA affiliates in the industry
Competitive Rev share, CPA and hybrid rates available
Affiliates can promote multiple brands within one account at GamingAffiliates.com
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