Online gaming operator bet-at-home has reiterated that a three per cent tax rise in Austria will put a “significant burden” on its performance this year, although gross gaming revenue (GGR) in Q1 was up 15.2 per cent.
GGR for the Austria and Germany-facing company in the first quarter rose from €11.7m to €13.5m year-on-year.
The operator brought in total bets and stakes across its online sports betting and igaming arms of €103.2m – up 4.3 per cent from €98.7m in Q1 2024 – and paid out winnings of €89.7m, up 2.8 per cent from €87.2m.
Bet-at-home’s online sports betting GGR in the latest quarter rose 12.8 per cent to €12m while online casino GGR climbed 38.4 per cent to €1.5m.
Net gaming revenue across sports betting and online casino grew 18.3 per cent to €10.8m.
“In the current financial year 2025, the group’s focus remains on increasing customer satisfaction, optimising efficient and scalable internal processes, continuously strengthening the bet-at-home brand in the core markets of Germany and Austria, and proactively addressing legal and regulatory changes,” said CEO Marco Falchetto.
“The dominance of sports betting in the product portfolio is expected to lead this year to increased seasonal fluctuations, as no major, revenue-relevant, off-season sporting event will take place.
“Further regulatory adjustments are to be expected in Germany, in particular expansions of the range of betting options eligible for approval and additional requirements for the system for increasing customer deposit limits.
“In Austria, the National Council approved on March 7, 2025 an increase in the betting tax from two per cent to five per cent, effective April 1, 2025. This short-term and significant adjustment to the betting fee will result in a significant burden on net betting and gaming revenues year-on-year.”
In March, bet-at-home warned its revenue could fall this year despite a rise of 13.3 per cent year-on-year in 2024 to €52.3m.
The company has forecast revenues of between €46m and €54m.
