Better Collective Acquires The Action Network for Approximately $240 Million
Better Collective, the Copenhagen-listed sports media and betting affiliate company, acquired The Action Network — a US-based sports betting content, data, and picks platform — in January 2021 for approximately $240 million, marking one of the most significant US sports betting affiliate acquisitions at the time.
Key Takeaways
- Better Collective acquired The Action Network in January 2021 for approximately $240 million
- The Action Network is a US sports betting content, analysis, tracking, and media platform with a large subscriber and app user base
- Better Collective is listed on Nasdaq Copenhagen and is one of Europe's largest sports betting affiliate companies
- The acquisition was Better Collective's largest to that point and established a major US presence for the company
- Better Collective also owns VegasInsider.com and other US sports betting media properties
- The deal reflected the rapid growth in US sports betting media and affiliate industry value following the PASPA repeal
Why It Matters — Players
Why It Matters — Operators
Better Collective A/S, the Copenhagen-listed sports media and betting affiliate company, announced and completed the acquisition of The Action Network in January 2021 for approximately $240 million — the largest acquisition in Better Collective's history at the time and one of the highest-value transactions in the US sports betting content and affiliate industry.
The Action Network
The Action Network is a US-based sports betting content and technology platform that provides bettors with editorial analysis, betting picks, odds comparison tools, line movement tracking, and a personal bet tracking application. Founded in 2017, The Action Network grew rapidly as the US sports betting market expanded post-PASPA, building a large audience of sports bettors seeking data, analysis, and community through its website, newsletter, podcast, and mobile app. The platform's ability to track line movements, identify sharp and public betting patterns, and provide context for betting markets made it a frequently used resource among engaged US sports bettors.
Better Collective
Better Collective is one of Europe's largest sports media and betting affiliate companies, operating sports betting comparison and content sites across multiple European markets. The company's affiliate business model — driving new customers to licensed gambling operators in exchange for revenue share or cost-per-acquisition fees — had been well-established in European markets for years. The US market expansion, driven by the PASPA repeal and subsequent state-by-state legalisation, created a major growth opportunity for affiliate businesses with the content and technology capabilities to serve US sports bettors.
US Expansion Strategy
Better Collective's acquisition of The Action Network gave the company an immediate major US audience and a platform with established brand recognition among American sports bettors. Combined with Better Collective's prior acquisition of VegasInsider.com (a long-standing US sports betting odds and picks destination), the company built a portfolio of US sports betting media properties that positioned it as one of the leading US affiliate groups.
Industry Context
The $240 million acquisition price reflected the premium valuations attributed to US sports betting affiliate and media properties in the early 2020s, as operators competed aggressively for new customer acquisition and were willing to pay premium affiliate rates for referred new depositors.
- Source:
- Reuters
- Published:
- January 11, 2021
- Original Article:
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