Bet-at-Home AG states that it has maintained profitability, having navigated increased taxes applied to wagering activities in Austria earlier this year.

The Frankfurt BORSE-listed betting group continues its fiscal adjustments under Austria’s new betting levy system, and has reaffirmed its 2025 financial targets.

H1 accounts reported €25.3m in gross betting and gaming revenue, broadly unchanged from the previous year.

Nevertheless, accounts detailed the impact of higher levies and fees which saw a reduction in net gaming revenue by 2.5% to €19.7m. Growth in the online casino segment helped offset a decline in betting activity.

Despite flat revenues, Bet-at-Home underlined stronger bottom-line results as EBITDA before special items rose to €3m, compared with €1.2m in 2024. The group’s net profit reached €1.8m helping earnings before taxes also improved, doubling to €2m over the period.

Leadership continues to apply strict cost control to ensure profitability. The absence of major football tournaments such as the UEFA Euro Championships led to a 20.5% reduction in marketing and promotional spend, which fell to €8.2m. 

Management noted that tighter cost management provided greater resilience against external pressures.

Austrian Bites 

Austria adjustments are cited as the firm’s principal challenge. As of 1 April, Austria increased its direct betting levy to 5% of stakes, which led to an immediate decline in customer activity.

The measure saw Bet-at-Home pass the extra costs on to customers in June, though management admitted this could undermine competitiveness, as Austrian rivals have absorbed the levy themselves.

“Regulatory frameworks remain our biggest challenge,” management said in its statement. “However, through disciplined cost control and a leaner operating model, we are confident in maintaining profitability across 2025.”

As of 30 June 2025, Bet-at-Home maintains a €29m in cash reserve, down from €35m at year-end 2024, reflecting negative net cash flows of around €500,000 from operating activities. Despite the decline, Bet-at-Home maintains that its liquidity position remains solid and supports its strategy.

The company kept its 2025 outlook unchanged, forecasting gross betting and gaming revenue of €46m–€54m and EBITDA before special items in the range of up to €4m. 

Management will continue to follow a cautious strategy, balancing cost discipline with the challenges of evolving European gambling regulations.