Bet-at-home slashes workforce as key functions outsourced to EveryMatrix
Betclic Everest Group-owned firm to shed 45 jobs with EveryMatrix set to replace proprietary sports betting and casino platforms
Bet-at-home is to axe 27% of its workforce following an outsourcing agreement to supplant the operator’s in-house platform with EveryMatrix’s tech stack.
The reduction in headcount comes just over two weeks after the Frankfurt-listed operator confirmed that it would surrender its UK licence following a suspension by the UK Gambling Commission (UKGC).
The UKGC suspended bet-at-home’s licence for suspected failings in its social responsibility and anti-money laundering (AML) practices.
The Austria-based firm, which has 5.5 million registered customers, currently employs 168 people, but it will lay off 27% of its staff to reduce expenses. This equates to 45 people.
The deal with EveryMatrix will involve the supplier providing bet-at-home with its sportsbook and casino platforms, player management, payments module and affiliate software. This applies to all markets where the operator is present, including its core market of Germany.
Bet-at-home also stated that the contract would be measured by the net gaming revenue generated from sports betting, and it expects this to be in the low digit millions per year.
The board at bet-at-home commented that it does not anticipate outsourcing to positively impact earnings in the group immediately.
The board expects any effects to become visible from the 2023 financial year onwards, with an expectation that outsourcing will improve the firm’s EBIT between €6m (£5.02m) and €8m.
This is the latest in a series of hammer blows for bet-at-home as it went through a similar situation when its Austrian subsidiary had its licence suspended in October 2021.
Following that licence suspension, the operator sanctioned 65 redundancies as part of a cost reduction programme in December 2021.
The operator was also hit by regulatory headwinds in Germany last year, which saw it post an 8.8% downturn in H1 2021 revenue from H1 2020, falling to €56.8m.
There was another blow in the Central European market for bet-at-home as the Swiss Supreme Court upheld its prior ruling, which denied the firm access to the Swiss market.