EGR Power Affiliates 2019

Welcome to the 2019 edition of EGR Marketing’s annual Power Affiliates issue.

The egaming affiliate space has really matured this year. Some more of the big guns have listed publicly, further mergers and acquisitions have been bankrolled and the vast majority of firms (certainly all of the ones in this list) now have the correct compliance processes in place.

The Power Affiliates list this year shines a light on the 25 most successful affiliate businesses in the global gambling industry, from those dominating the Nordics to those eyeing growth across the pond in the nascent US market, while some still consider the UK as the place to be.

We made the decision last year to stop ranking affiliates by sports, casino, poker and bingo, so every company in this list needs to have a truly diversified product portfolio – we no longer accept one-trick ponies, but we are delighted to welcome four new entrants.

There are two new faces on the judging panel this year and each judge was asked to pick their top 10 or 15 affiliate companies, marking every company out of five in five specific criteria, including business/commercial success, appetite for M&A and regulatory/compliance procedures. To be considered, each company had to receive at least one nomination and their total score from all judges were then added up.

Our eight judges, which include affiliate managers, consultants and digital marketing experts, were all handpicked to ensure we had a panel with an unparalleled level of insight into the egaming affiliate market. What we are left with is what we believe is a comprehensive rundown of the biggest online gambling affiliates operating in the sector today. Let’s see if you agree.

1. Better Collective (1)
HQ: Copenhagen
Key executive: Jesper Søgaard
Strongest category: M&A

Better Collective topped these rankings last year and has once again enjoyed huge success over the last 12 months. The Copenhagen-based affiliate giant is now a publicly-listed company after floating on the Nasdaq Stockholm stock exchange in June 2018. CEO Jesper Søgaard has overseen an aggressive M&A strategy which culminated in the record €36m purchase of Austrian-based sports betting affiliate firm Bola Webinformation GmbH and its flagship product Wettbasis.com. The Wettbasis site has strengthened Better Collective’s bulging brand portfolio which is still spearheaded by bettingexpert.com – a site boasting more than three million active monthly users. Full-year revenues increased by 54% to €40.5m as EBITDA rose by 47% to €16m, albeit against a dip in profits as rapid growth saw staff costs rocket by 72% to €13m. Like many firms on this list, Better Collective is preparing for long-term gains in the US having gone live with US-bookies.com and there are plans to get people on the ground in New Jersey very soon. Sports betting accounts for almost 80% of total revenues in all markets. While Catena Media and XLMedia generate more substantial revenues, it is important to note that Better Collective topped all five categories that made up the marking criteria.

2. Catena Media (2)
HQ: Malta
Key executive: Per Hellberg
Strongest category: Operations

It has been 12 months of transition for Catena Media. The sheer scale of the Nasdaq Stockholm-listed lead gen firm makes it a shoo-in for a top-three spot and it has held on to second place for the second year in a row. Its performance in the category for operational success proves there can be no taming of this beast. Full-year revenue of €105m remains one of the strongest in the sector following a 55% increase, while EBITDA topped out at €48m after a rise of 47%. CEO Per Hellberg has placed a new emphasis on organic growth while his predecessor, Henrik Persson Ekdahl, distanced himself from the company by decreasing his shareholding and declining re-election to the board. Catena’s flagship brand AskGamblers is arguably the most successful and instantly recognisable affiliate site in egaming. The brand is the third biggest traffic generator in Germany just 12 months after launch and the second biggest in the US. CFO Pia-Lena Olofsson departed in January 2019 and was replaced on an interim basis by Erik Edeen, while regular EGR Marketing contributors Neil Roarty, Nick Wilby and Rhi Burns have all left the firm since the turn of the year.

3. Raketech (4)
HQ: Malta
Key executive: Michael Holmberg
Strongest category: Compliance

Raketech has gone from strength-to-strength since becoming a publicly listed company in June 2018. Since floating on Nasdaq Stockholm, the firm has gained the necessary capital to make an assault on the affiliate establishment and has climbed its way into the top three for the very first time this year. Full-year revenue and adjusted EBITDA both increased by 49% to €25.6m and €14.4m respectively, while a foray into esports with the hugely successful esportsguide.com has given them differentiation from the competing field and exposure in the US. Raketech arguably prioritised compliance more than any other affiliate, having undergone a corporate rebrand at the end of 2017 and is reaping the rewards as one of the strongest performers in the regulatory category. The firm is intending to streamline its conversion processes this year through the launch of experimental B2C casino project, Rapidi. Raketech will monitor the journey of casino players from the moment they visit a Raketech affiliate site, right through to depositing and playing on the front-end site of a B2C operator. That data will then be collected and analysed to help wheel out specifically tailored campaigns for each user. Raketech reported 50% organic growth in Q4 2018.

4. XLMedia (3)
HQ: Jersey
Key executive: Ory Weihs
Strongest category: Compliance

On the face of it, XLMedia has had a poor year. The Jersey-based firm’s share price dropped by more than 30% last summer after it issued a profit warning due to regulatory upheaval in key markets including Australia and Europe. Those fears were well-founded after full-year revenue fell by 14% to $118m from $138m and profit before tax fell by 36% year-on-year to $25m, down from $39m. SEO spam attacks also contributed to the difficult reporting period. CEO Ory Weihs has since pledged to strip out XLMedia’s low-margin media buying activity and is aiming to return the firm to growth by ramping up the focus on the group’s higher-margin publishing division with a renewed focus on its best performing verticals; gambling and personal finance. Weihs described 2018 as a “challenging year”, but the fact XLMedia shone in the category of compliance and regulation proves that the hard work was all worth it. WhichBingo has been fully integrated and incorporated into XLMedia’s portfolio of products, but Weihs anticipates the bulk of mid to long-term asset growth will come as a result of “organic asset development”.  Shaun O’Neill, former head of affiliate marketing at Kindred Group, has been appointed in a head of sales role at XLMedia and brings with him vast experience.

5. GiG Media (12)
HQ: Malta
Key executive: Richard Brown
Strongest category: Compliance

GiG climbed seven places in this year’s rankings and received many plaudits from our judging panel. Under the supervision of COO Richard Brown, GiG Media has become a jack of all trades and is becoming a master of most. GiG Publishing boasts an extensive network of SEO-driven editorial websites, GiG Traffic generates leads through digital marketing campaigns, GiG Reach harnesses the operator’s CRM technology and GiG Comply monitors advertising campaigns to ensure they are compliant with operator preferences. Media revenues reached an all-time-high in Q4 2018 of €8.7m, primarily driven by the operator’s portfolio of affiliate websites. Media was the biggest contributor to company profits last year and the firm is reaping the rewards of a well-executed integration and a focus on organic growth after making five acquisitions in 2017. It wasn’t all plain sailing though – in March 2019, GiG’s non-country specific affiliate site www.topcasinobonus.nu was the subject of regulatory enforcement action by Dutch regulator KSA for being published in the Dutch language and for targeting Dutch players.

6. Game Lounge (14)
HQ: Malta
Key executive: Jonas Cederholm
Strongest category: Commercial

Game Lounge is another high climber this year after finishing 14^th last time round. Any firm shining in the commercial category is doing something right, as the criteria meant excelling in the areas of revenue growth, rankings and converting high-value player traffic. The firm was founded in 2011 with the ambition to “transform affiliate marketing for the egaming sector in the Nordics and beyond” and has done just that. After being acquired by Nordic giant Cherry Group, Game Lounge branched out into casino marketing, video production and loan marketing and has even launched two white-label casinos in SveaCasino.com and Suomiautomaatti.com. SveaCasino.se remains the group’s flagship affiliate site, while recent expansion has also seen brands launch in Japan, Spain, New Jersey, Finland, Mexico and Germany. In the UK, the Casino Hawks brand is its strongest performer. Game Lounge is not afraid to go against the grain, as proven by the fact it ignored television advertising in Sweden in favour of radio, while investing in print led to a successful media partnership with Aftonbladet, the biggest news brand in the country. Game Lounge revenues for Q4 2018 reached £5.9m, a figure almost doubled from the prior corresponding period as full-year revenue topped out at £21m.

7. Gambling.com Group (6)
HQ: Dublin
Key executive: Charles Gillespie
Strongest category: Compliance

Gambling.com Group managed to deliver full-year revenue growth of 63% to €16.2m and fourth quarter revenue growth of 81% to €5m, all while changing the strategic direction of the business, which is no mean feat. Firstly, the Malta-registered firm put the majority of its eggs in the US market basket after the repeal of PASPA and was counting down the days for an idyllic American homecoming for CEO Charles Gillespie and COO Kevin McCrystle. But as ever in the US, regulation has proved to be a case of two steps forward and one back, so the Group has once again looked towards Europe’s regulated markets after setting up an office in Tampa. The American dream is still alive, but Gillespie confirmed the Group would look to diversify away from its core market of the UK due to an impending rise in Remote Gaming Duty. Q4 NDCs totalled 25,000, representing growth of 140% led by organic natural search revenue in casino and sports. The Group continued to derive a vast majority of revenue from locally regulated markets and that increased in January due to the re-regulation of the Swedish market. Last month, Gambling.com Group’s US subsidiary, KAX Media America Inc, was granted approval by the New Jersey Division of Gaming Enforcement (DGE) to expand business deals with operators in the state.

8. Oddschecker Global Media (5)
HQ: London
Key executive: Toby Bentall
Strongest category: Compliance

Oddschecker Global Media has suffered this year from the merger that will surely see it rise dramatically next year. A drop of three places despite combining with iBus Media, a firm which placed 25^th in last year’s rankings, makes little sense on the face of it, but it is also testament to companies like GiG and Game Lounge that have shot up the ranks over the last 12 months. The creation of Oddschecker Global Media was confirmed after Stars’ acquisition of SBG and will see Oddschecker’s international business combine with iBus Media’s portfolio of affiliate sites, including the hugely popular PokerNews.com. Toby Bentall was confirmed as CEO at the start of the year and business will be based between Oddschecker’s Hammersmith office and iBus Media’s Barcelona-based digital marketing agency. The addition of PokerNews.com will be key for cross-selling across brands in both the Australian and US markets, while Oddschecker has also increased revenue streams this year by launching a B2B live analytics platform, dubbed the “Bloomberg of betting”.

9. Natural Intelligence (7)
HQ: Tel Aviv
Key executive: Nir Greenberg
Strongest category: Commercial   

Founded in 2009, Natural Intelligence has grown from a grassroots start-up to a world-leading tech company that “empowers millions of consumers to make informed decisions with confidence”. The Tel Aviv-based digital marketing firm specialises in user acquisition, especially via paid search, and has comparison listings in a variety of topics in fields such as personal finance, business solutions and consumer services. Egaming does not even make it onto the homepage of the Natural Intelligence website, which explains why it does not rank higher in this list despite reportedly raking in more than $200m in revenue last year. Natural Intelligence made its first move into the US market in March with the acquisition of sports betting comparison site, Sidelines. California-based Sidelines has launched operations in New Jersey and is soon expected to launch in Pennsylvania. The firm develops technological tools for the comparison of odds, tips and legal US sportsbooks, providing sports analysis, projections, real time odds comparison, injury reports and news feeds. Sidelines staff will work with more than 300 Natural Intelligence employees in the Israeli capital.

10. Blexr (9)
HQ: Malta
Key executive: Ian McDonnell
Strongest category: Operational  

Blexr retained its place in the top 10 ahead of some stiff competition this year and the Malta-headquartered digital marketing firm is only likely to get stronger after investing heavily on in-house technology. A proprietary platform integration means the firm now has full control of its business intelligence tools, content management systems and revenue tracking software. Headcount in Malta doubled during 2018 from 35 to 70, while the affiliate has also opened a brand new 40-person office in Barcelona to give egaming professionals the option of a living location outside of Malta. Blexr has a reputation as a fantastic place to work after co-founders Ian McDonnell and Paudie O’Reilly worked hard on building a relaxed and enjoyable company culture alongside COO Eduardo Remedios and chief people officer Tonia Symington. The firm has even created a Blexr Book of Culture for new and existing employees. Blexr has decided not to engage in the ultra-competitive M&A arena which is hotly contested by the public affiliates on this list, but McDonnell has not ruled out making a smaller purchase in 2019 and is also eager to sew up the firm’s first sponsorship deal. Blexr’s key markets are the UK, Canada, Germany and New Zealand.

11. Latest Casino Bonuses (19)
HQ: Hong Kong
Key executive: Joshua Chan
Strongest category: Operational

Latest Casino Bonuses rebranded its flagship site to LCB.org last year to “reinforce the identity of the brand on the global gaming stage”. To date it has reviewed 1,685 online casinos, 6,881 slots and boasts more than 115,000 active forum members – it is arguably the go-to resource for online UK casino players. The business is strengthened by a vast array of sister sites including LatestBingoBonuses, LatestPokerBonuses, LatestSportsBonuses, Casino Slots, OnlineBlackjack.com, GamesAndCasino, TwoLittleFleas and also Affiliate Guard Dog, which judge Elaine Gardiner cited as one of her most-visited sites after taking over as head of affiliates at Global Gaming.

12. OLBG (11)
HQ: Bristol
Key executive: Richard Moffat
Strongest category: Compliance

OLBG is the original UK tipster site. The affiliate has gained a reputation for recruiting and publishing trusted tipsters since being launched in 2002. OLBG is a respected brand in British horseracing, as proven by the firm’s sponsorship of the Mares’ Hurdles at this year’s Cheltenham Festival. More than 500,000 online sports bettors have joined the platform which has led to worldwide expansion – OLBG publishes sites in 16 countries, including Australia, Argentina, Bulgaria and Slovakia. Our judges were most impressed by OLBG’s compliance processes, but a 4.6 rating out of five after more than 4,000 ratings on the iOS App Store suggests punters are delighted with its operational performance.

13. Racing Post (13)
HQ: London
Key executive: Cian Nugent
Strongest category: Operational 

Launched in April 1986, the Racing Post is 33 years old this year but the legendary British newspaper is far from an outdated print title. This year saw digital revenues overtake print for the first time ever and, after missing out on the early dates of affiliate activity, RP soon made up for lost time by harnessing the power of mobile and securing key B2B partnerships with operators like William Hill. Former Matchbook COO Cian Nugent arrived in October to lead the betting and affiliates side of the business, while ex-Gamesys and Paddy Power Betfair exec Gethin Evans joined the firm as a digital marketing director.

14. Traffic Lab (18)
HQ: Copenhagen
Key executive: Sebastian Agerskov
Strongest category: Operational 

Traffic Lab is an affiliate marketing bureau based in Copenhagen with a headcount of around 40. The firm was founded in 2013 by CEO Sebastian Agerskov and co-founder Tuomas Jauhiainen and specialises in generating traffic to casino and betting sites by just about any means possible. Affiliate channels include SEO, PPC marketing, social media marketing, email marketing and display marketing. In Traffic Lab’s home market of Denmark, its sites rack up more than 30,000 page views per month and rank on more than 100 essential casino keywords. GiG said Traffic Lab has been delivering “exceptional results” since it launched its B2C Rizk Casino brand.

15. Livesport (10)
Key executive: Richard Hájek
HQ: Czech Republic
Best performing category: Commercial

Prague-based Livesport and its subsidiary Livesport Media boast some truly eye-watering figures and it remains one of Europe’s biggest companies in the realm of sports betting affiliation. Its flagship Flashscore.com product, for example, is one of the leading providers of live sport updates, covering more than 35 major sports, while the overall business claims to serve more than 85 million unique visitors each month and over 60 million mobile app downloads. Its Malta-headquartered Livesport Media arm also includes brands such as OddsPortal.com, Livescore.in and BetExplorer.

16. At The Races (15)
HQ: London
Key executive: Sebastian Agerskov
Strongest category: Operational  

At The Races remains one of the most prominent horseracing affiliates in the UK. Despite the TV channel rebranding to Sky Sports Racing and becoming part of the Sky Sports portfolio back in January, the At The Races site has kept its name and stayed true to its values – even after adopting the teal colour chosen by Sky. The deal with Sky helped seal a host of exclusive international racing rights with partners including PMU and Hong Kong Jockey Club. Head of commercial operations Chris Dilley commercial director Tony Sweeney are in charge of the affiliate side of the business.

17. CheckdMedia (24)
HQ: Manchester
Key executive: Jamie Knowlson
Strongest category: Product

CheckdMedia has had an incredibly busy year and the Manchester-based digital marketing company is really flying the flag for a new generation of UK-based affiliates. Social media marketing and publisher marketing remains the firm’s core strengths and Sky Bet is among its biggest proponents. Former Oddschecker exec Harry Bowden joined CheckdMedia in January this year as head of commercial to bring some industry nous on-board, while the firm redeveloped its website to impress potential B2B partners. This year also saw the group’s Footy Accumulators brand sign its first ever sponsorship deal with local National League North club, Altrincham FC.

18. Clever Advertising (8)
Key executive: Luis Rodrigues
HQ: Portugal
Best performing category: Operational

Portuguese affiliate business Clever Advertising has now become a staple of EGR’s Power Affiliates having appeared in the rankings for yet another year. The company is privately-owned, making it more difficult to judge financial strength, but according to its own website has 500 million monthly unique visitors, a social media audience of 10 million people and owns approximately 3,000 websites.

19. Punters Lounge ***NEW***
Key executive: Paul Ross
HQ: UK
Best performing category: Commercial

Despite launching in its first iteration as a football betting forum more than 15 years ago, this is the first time Punters Lounge has made the EGR rankings as a standalone affiliate. The UK affiliate, which has both Apple and Android mobile apps, claims 2018 was a “watershed moment” for the business following a major redesign and site architecture overhaul.

20. Matching Visions ***NEW***
Key executive: Dennis Dyhr-Hansen
HQ: Malta
Best performing category: Operational

Malta-based Matching Visions is another newcomer to this year’s rankings and scored particularly well among the judging panel for its operational success. According to the company’s website, the affiliate network boasts more than 150 brands as part of its portfolio and last year teamed up with Rvnue Aps to launch a new online gaming review site Wisegambler.

21. Rise Project (17)
Key executive: Richard Skelhorn
HQ: UK
Best performing category: Compliance

Founded in 2014 by bgo co-founder Richard Skelhorn, Rise Project continues to work with some of the industry’s biggest B2C brands but claims to focus only on delivering high-value customers to its clients. Remains focused on the online gaming sector but continues to expand into new verticals such as financial markets and online dating.

22. Net Gaming (16)
Key executive: Marcus Teilman
HQ: Malta
Best performing category: Commercial

Stockholm-listed Net Gaming acquired PokerListings (16th in EGR Power Affiliates 2018) owner Highlight Media Group in 2016 and replaces the poker affiliate in this year’s rankings to reflect the changing nature of the industry. The company recently announced 2018 revenues from its affiliate business had increased 19% year-on-year to SEK 190.3m, while EBITDA was also up 19% to SEK 127.1m

23. Casinomeister ***NEW***
Key executive: Bryan Bailey
HQ: Germany
Best performing category: Operational

The professionalisation of the egaming affiliate sector and rise of public-listed affiliates has led to monumental changes to the makeup of the Power Affiliates in recent years. However, Casinomeister has stood the test of time having been founded way back in 1998 and returns to the rankings this year after a one-year absence in 2018.

24. Moneta Communications (20)
Key executive: Danny Campbell
HQ: UK
Best performing category: Operational

Moneta Communications is one of the UK’s old sports betting affiliate companies having been founded more than 15 years ago with Betting Directory remaining the firm’s flagship online portal. The company’s director Danny Campbell has also been making strides into the nascent US online gambling market with the launch of GamingUSA earlier this year.

25. KaFe Rocks ***NEW***
HQ: Malta
Key executive: Tim Tepass
Strongest category: Commercial

KaFe Rocks is a newcomer this year and with good reason – the company was only founded in 2018. The firm is headquartered in St Julians, Malta, but its 30+ employees all work remotely from home, allowing management to cherry-pick the best egaming staff from around the world. KaFe Rocks boasts more than 30 sites in eight different languages across 20 countries, and reportedly generated 45,000 new users for its “carefully selected” egaming partners over the last 12 months. Having missed the affiliate compliance transformation of 2017, KaFe Rocks has also promised to “shed light and transparency on an industry that desperately needs it”.