Kambi

What Kambi does

Kambi Group plc is a publicly traded B2B sports betting technology provider, listed on Nasdaq First North Growth Market Stockholm under ticker KAMBI. Founded in 2010 and headquartered in Birkirkara, Malta, the company delivers end-to-end sportsbook software and services to licensed gaming operators, lottery corporations, tribal gaming operators and online sportsbooks across more than 60 regulated markets on six continents. Its commercial portfolio comprises two principal offerings: Turnkey Sportsbook, a fully managed end-to-end sportsbook platform covering pricing, trading, risk management, compliance and operations, and Odds Feed+, a standalone high-quality odds feed delivered through a single API integration. An optional proprietary player account management (PAM) platform can be layered onto the Turnkey Sportsbook.

The technology foundation rests on proprietary AI-driven pricing, trading and risk management systems operating on structured wagering data. As of Q1 2026, AI-powered algorithms handled over 60% of bets placed across the operator network, up from 28% in 2023, with the 2026 FIFA World Cup slated for fully automated AI trading across pricing and risk management. The scale of Kambi's 70+ operator network creates a data flywheel: aggregated wagering data across football, tennis, basketball and ice hockey sharpens pricing models and risk management, while fraud detection and integrity monitoring, including participation in the IOC's IBIS program, address match manipulation, bonus abuse and account fraud. The platform is certified to ISO 27001 and eCOGRA standards and holds B2B licensing from the UK Gambling Commission, Alderney Gambling Control Commission, Malta Gaming Authority, Spain's DGOJ and Romania's National Office for Gambling.

Kambi generates revenue primarily through multi-year Turnkey Sportsbook licensing and Odds Feed+ subscriptions with B2C gaming operators. Pricing is custom-quoted enterprise-based, typically blending platform licensing fees with revenue sharing tied to operator performance. Q1 2026 revenue was €43.5 million (+4.9% YoY) with adjusted EBITA of €5.7 million (+63.5% YoY, 13.0% margin); full-year 2025 revenue stood at €162.0 million (-8% YoY) with adjusted EBITA of €15.6 million (-39% YoY) due to foreign-exchange headwinds and a softer revenue base. Distribution combines direct enterprise sales (typical for flagship agreements with OLG, PMU, Churchill Downs, Bally's, Hard Rock Digital, Rush Street Interactive, LeoVegas and BetWarrior) with channel partnerships to PAM and platform integrators such as Bragg Gaming Group. In November 2025, Kambi acquired OMEGA Systems' PAM platform to enable entry into Nevada, and a 100M SEK share buyback was announced in June 2026.

Name

Kambi

Legal name

Kambi Group plc

Website

https://kambi.com

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Kambi Group plc is a Malta-headquartered, Nasdaq Stockholm-listed B2B sportsbook technology provider delivering Turnkey Sportsbook and Odds Feed+ to licensed gaming operators, lottery corporations, and tribal gaming entities across 60+ regulated markets globally.

Ownership category

akta.pro rank

Product category

Sports Betting Technology

NAICS

Gambling Industries (7132), Other Gambling Industries (713290), Software Publishers (51321)

SIC

Services-Membership Sports & Recreation Clubs (7997)

akta.pro primary industry

Sportsbook Platform & PAM Providers (B2B) (MPAEACAC)

akta.pro secondary industries

Sportsbook Trading, Odds & Feed Providers (MPAEAKAB), Sportsbooks (Online & Mobile Operators) (MPAEACAA)

Keywords

• Sportsbook technology platform
• B2B sports betting software
• AI-powered odds trading
• Turnkey sportsbook solutions
• Odds feed API

Headquarters

HQ city

Birkirkara

HQ country

Malta

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Turnkey Sportsbook Licensing: Kambi provides its Turnkey Sportsbook platform to licensed B2C gaming operators on a multi-year contractual basis. Revenue is generated through licensing fees, technology fees, and often revenue sharing arrangements based on operator performance. The company signs long-term agreements with operators like PMU, Ontario Lottery and Gaming Corporation, and BetWarrior.
2. Odds Feed+: High-quality odds feed delivered via single API integration to operators. This supplementary product allows operators who may have their own sportsbook to leverage Kambi's odds quality and network-level insights.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Kambi sells a B2B sportsbook technology platform to licensed gaming operators, anchored by its flagship Turnkey Sportsbook (a full end-to-end solution covering trading, risk management, compliance and operations) and Odds Feed+ (a high-quality odds feed delivered through a single API). Operators can additionally license Kambi's own player account management (PAM) platform, designed to integrate seamlessly with the Turnkey Sportsbook.

Product overview

Kambi is a B2B sportsbook technology provider offering two principal products: its flagship Turnkey Sportsbook (a full end-to-end sportsbook platform covering AI-powered pricing, trading, risk management, compliance, and operational support, trusted by 60+ partners across 60+ regulated markets on six continents) and Odds Feed+ (a standalone high-quality odds feed delivered via a single API for operators seeking to build their own front-end). Operators can optionally add Kambi's own full-service player account management (PAM) platform, designed to integrate seamlessly with the Turnkey Sportsbook. The network effect of Kambi's 60+ operator partners generates vast betting data that drives proprietary AI-powered pricing and risk management across the entire portfolio.

Differentiator

Problem solved

Functional benefit

Brands

• Turnkey Sportsbook: Full turnkey sportsbook solution trusted by 60+ partners on six continents providing high-performance technology and regulatory certainty.
• Odds Feed+

Products and services

• Turnkey Sportsbook Flagship end-to-end B2B sportsbook platform providing AI-powered pricing, trading, risk management, compliance and operational support to licensed gaming operators. Trusted by more than 60 partners across 60+ regulated markets, with optional seamless integration to Kambi's own player account management platform.
• Odds Feed+ High-quality odds feed delivered through a single API integration, enabling operators to create bespoke packages of sports, leagues and events with odds benefiting from Kambi's network-level insights and betting data. Designed for operators that operate their own sportsbook and want to leverage Kambi's pricing without the full Turnkey Sportsbook stack.
• Kambi Player Account Management (PAM) Platform Full-service player account management platform designed and optimized to work seamlessly with the Kambi Turnkey Sportsbook. Handles player accounts, bonus management and player engagement, offered as an add-on for operators that want a tightly integrated PAM alongside the Turnkey Sportsbook.

Quantifiable outcome

• AI now prices 48% of all bets across Kambi's operator network, nearly doubling from 28% in 2023
• +4 more outcomes

Named customers13 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability4 records

Feature4 records

Partnerships

17 partnerships are on record, tiered major, channel, core, strategic and flagship.

• BetWarriormajorStrategic or Co-development Partner · 22 June 2026Multi-year extension to existing Turnkey Sportsbook partnership. BetWarrior continues to leverage Kambi's end-to-end sportsbook technology, benefiting from the scale, performance and liquidity of one of the world's largest sports betting networks. Since partnering in 2019, BetWarrior has become one of Argentina's leading sports betting brands and expanded into Brazil and Peru.
• Canadian Bank Note Company, Limited (CBN)majorStrategic or Co-development Partner · 21 May 2026Multi-year online sports betting partnership where Kambi powers CBN's LET'S BET and APOSTEMOS brands with its Turnkey Sportsbook solution. Initial launch focuses on Central America and Caribbean, with future expansion planned for South America. The agreement supports CBN's strategic shift from lottery-led business into digital sports betting operator.
• Bragg Gaming GroupchannelTechnology or Integration · 11 May 2026Partnership where Bragg Gaming integrates Kambi's Turnkey Sportsbook technology into Bragg's Player Account Management platform for Belgian operator 711's sportsbook expansion. The sportsbook will feature Bragg's Fuze player engagement tools and operate under 711's F+ license from the Belgian Gaming Commission.
• Pari Mutuel Urbain (PMU)majorStrategic or Co-development Partner · 31 March 2026Long-term Turnkey Sportsbook partnership marking Kambi's entry into France's regulated sports betting market. Kambi powers PMU's fixed-odds online sportsbook with AI-powered pricing, trading, risk management capabilities and a custom front-end solution tailored to PMU's brand.
• Wind Creek Chicago SouthlandcoreStrategic or Co-development Partner · 25 March 2026New sports wagering facility (4,200-square-foot sportsbook) at Wind Creek casino in Illinois, powered by Kambi. The sportsbook offers parlays, prop bets, self-service kiosks and mobile betting technology.
• SuomiVetostrategicStrategic or Co-development Partner · 12 February 2026Long-term Turnkey Sportsbook partnership for Finland's newly regulated iGaming market. SuomiVeto is led by the founders of BetCity, which previously partnered with Kambi for the Netherlands' regulated market launch in 2021. Kambi's platform, pricing, trading, compliance and operational support will power SuomiVeto's launch in Finland in July 2027.
• Ontario Lottery and Gaming CorporationflagshipStrategic or Co-development Partner · 1 January 2026Multichannel sports betting partnership (PROLINE+ online and PROLINE retail) where Kambi succeeded FDJ as the platform provider. The contract runs through 2032. Ontario private sports betting market generated C$12.197 billion in handle and C$814.9 million in revenue during 2025.
• Atlantic Lottery Corporation and British Columbia Lottery CorporationmajorStrategic or Co-development Partner · 1 January 2026Selected to power a multi-province sportsbook solution covering seven of Canada's 10 provinces, in partnership with Atlantic Lottery Corporation and British Columbia Lottery Corporation.
• Churchill Downs IncorporatedmajorStrategic or Co-development Partner · 17 December 2025Extended multi-year sports betting partnership. Kambi continues providing sportsbook technology across Churchill Downs' 15 retail locations in 8 states, with a 9th state launch in Maine planned. Partnership extension demonstrates continued commitment to US market presence.
• OMEGA SystemscoreTechnology or Integration · 5 November 2025Kambi acquired a player account management platform from OMEGA Systems to expand into Nevada's sports betting market. The acquisition enables Kambi to develop a proprietary in-house solution, with product launch expected by mid-2026 pending regulatory approval.
• LeoVegasmajorStrategic or Co-development Partner · 8 July 2025LeoVegas extended its sportsbook partnership with Kambi, continuing their long-standing relationship. The extension coincides with ongoing Tipico platform integration and may suggest a delay in LeoVegas's own platform migration.
• Shape GamescoreStrategic or Co-development Partner · 12 September 2022Kambi acquired Shape Games, a front-end technology provider, for up to €78.1 million (including upfront payment and earnout). The acquisition enhanced Kambi's mobile sportsbook capabilities and customer engagement through Shape Games' native front-end technology and additional features. Shape Games was based in Copenhagen and had worked with notable operators like Danske Spil and Norsk Tipping.
• Bally's CorporationmajorStrategic or Co-development PartnerUS sportsbook partner using Kambi's sportsbook-as-a-service infrastructure. Completed platform migration to Kambi's technology in Q2 2025, operating in 9 US states.
• LiveScore GroupmajorStrategic or Co-development PartnerGlobal sports betting brands powered by Kambi technology. Partnership combines Kambi's technology with LiveScore Group's world-class sports betting brands, media assets and in-house product teams.
• Hard Rock DigitalmajorStrategic or Co-development PartnerUS sportsbook partner operating under the Hard Rock brand using Kambi's sportsbook technology.
• Rush Street InteractivemajorStrategic or Co-development PartnerUS sportsbook operator partner (BetRivers and SugarHouse brands) using Kambi's sportsbook technology.
• BetPlaymajorStrategic or Co-development PartnerMarket-leading Colombian sports betting operator partner.

Scale indicators11 records

Recent moves6 records

Expansion highlights9 records

Direct peers

• Sportradar Group AG: Sportradar is a B2B sports data and technology provider offering sportsbook content, odds feeds, and trading services to operators globally. It is Kambi's most direct competitor in sportsbook trading, odds, and data, with comparable network reach and similar Tier-1 operator customer base.
• Genius Sports Limited: Genius Sports provides sports data, technology, and sportsbook services to operators globally following its acquisition of Betgenius. It directly competes with Kambi in odds feeds, trading, and sportsbook technology, particularly in the US and European markets.

Broad incumbents

• Playtech plc: Playtech is a global iGaming and sportsbook platform provider offering turnkey sportsbook, casino, and PAM solutions to operators. It competes directly with Kambi in the turnkey sportsbook category but operates a broader portfolio across casino, poker, and adjacent verticals.
• Light & Wonder (OpenBet): Light & Wonder owns the OpenBet sportsbook platform, providing turnkey sportsbook technology, trading, and content to global operators. OpenBet is a direct turnkey sportsbook competitor to Kambi's Turnkey Sportsbook, with broader iGaming exposure via the parent company.

Emerging players

• Pragmatic Solutions: Pragmatic Solutions provides a turnkey iGaming and sportsbook platform to operators with a focus on emerging markets and white-label deployment. It competes with Kambi in turnkey sportsbook and PAM for operators seeking faster, lower-cost deployment.
• BetConstruct: BetConstruct offers a turnkey sportsbook and iGaming platform with broad geographic reach, particularly in emerging markets. It competes with Kambi in licensed B2B sportsbook deployment and provides comparable end-to-end technology and risk management.
• Finnplay: Finnplay is a Nordic-based iGaming platform provider offering turnkey casino and sportsbook solutions, primarily to operators in regulated European markets. It competes with Kambi in turnkey sportsbook deployment for Tier-2 and Tier-3 operators.
• NSoft: NSoft provides sportsbook and iGaming platform technology, with strong presence in emerging markets (Africa, LatAm, Eastern Europe) and a turnkey sportsbook offering. It is an emerging competitor in B2B sportsbook licensing for Tier-2 operators.
• EveryMatrix: EveryMatrix provides a turnkey iGaming platform including casino, sportsbook, and PAM solutions to operators globally. Its OddsMatrix sportsbook product competes with Kambi's Turnkey Sportsbook in the Tier-2 operator segment, with comparable geographic reach.

Others

• Bragg Gaming Group: Bragg Gaming provides iGaming content, PAM, and player engagement tools (Fuze) and integrates Kambi's Turnkey Sportsbook into its platform for joint customers like 711.be. Bragg is both a channel partner and adjacent iGaming technology peer with overlapping operator relationships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/KambiSports
• YouTubevimeo.com/kambi
• Facebookfacebook.com/KambiSports
• LinkedInlinkedin.com/company/kambi
• Instagraminstagram.com/wearekambi

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kambi