Affiliate marketing remains one of the main acquisition channels for online gambling operators in Argentina. The visibility of Argentina affiliate operators on leading affiliate websites can have a direct impact on traffic and new player registrations. An OGQ analysis compared the operators most frequently featured across the country’s top betting and casino affiliate sites.

• Betsson recorded the strongest overall affiliate presence. The operator appeared on 80% of betting affiliate sites and 60% of casino affiliate sites, giving it the broadest visibility across both verticals. Bet365 followed with 83% coverage on betting affiliates and 47% on casino affiliates.
• Codere, Betano and BetWarrior also ranked among the most visible brands. Codere was featured on 60% of betting and 47% of casino affiliate sites, while Betano reached 61% and 41%, respectively. BetWarrior appeared on 50% of betting and 47% of casino affiliate websites, underlining the strong presence of these Argentina affiliate operators.
• The rankings also show different strategies between betting and casino affiliates. PlayUZU was featured on 56% of casino affiliate sites but only 17% of betting affiliates, while 22Bet reached 50% of casino affiliates compared with 24% in betting.

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• SEGG Media will transition Lottery.com to an affiliate-only model. The company said the platform will become its global hub for licensed lottery operators. The first affiliate partners are expected to be announced soon.
• The rollout will begin in North and Latin America, in line with SEGG Media’s regional expansion plans. The company said the model allows faster entry into regulated markets with lower investment. It also keeps the option to operate directly in selected markets in the future.
• SEGG Media cited research showing the global lottery market is expected to grow from USD 374.0 billion in 2025 to USD 396.1 billion in 2026. The online lottery market is forecast to reach USD 13.22 billion this year. The Lottery.com affiliate platform is aimed at benefiting from this growth.
• SEGG Media said also the global affiliate marketing industry is expected to grow from USD 19.6 billion in 2025 to USD 24.7 billion in 2026. Within that market, iGaming affiliate programmes generate an estimated USD 4.3 billion annually across more than 5,400 active programmes worldwide. The company sees this as another growth opportunity for the Lottery.com affiliate platform.
• SEGG Media outlined that lottery affiliate programmes can generate higher acquisition values than traditional lottery sales channels. The company also cited industry data showing that 12% to 25% of first-time lottery players later place a casino or sportsbook bet. This cross-selling potential is one reason behind the new strategy.
• Chairman of SEGG Media, Marc Bircham, said: “By establishing Lottery.com as our global master affiliate platform, the brand becomes accessible across all regulated markets.” The company said it is now inviting licensed lottery operators to join the network.
• SEGG Media was founded as Trident Acquisitions Corp. in 2016 and became Lottery.com Inc. after acquiring AutoLotto in 2021. The company rebranded to SEGG Media in 2025 as it expanded into sports, entertainment and gaming, while Lottery.com remained its gaming brand. Today SEGG Media is the parent company of Lottery.com, Nasdaq-listed  and operates a portfolio of digital brands that also includes Sports.com, Concerts.com, TicketStub.com and Veloce Media Group.

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Overview

• Average growth – On average, share prices analyzed decreased by -1% in the last week.
• “Winner” – The most significant leap in our sample of online gambling-focused companies was taken by Catena Media with an increase of +5%, followed by Raketech (+4%).
• “Loser” – Rush Street and Gambling.com had the worst weekly performance in our analysis, with a change of -9% and -8%.
• Comparison to the Nasdaq Composite – Compared to the development of the Nasdaq Composite (-2%), the average development of the online gambling industry looks “better”.

Segment-specific developments

• Online-focused operators – The shares of online-focused operators included in the analysis saw, on average, a decrease of -3%; with Codere Online (+2%) leading the ranking.
• Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, Evoke is the “winner” with +0.6% while the average share development was -1%.
• Suppliers – The shares of the suppliers included in the analysis saw, on average, a decrease of -1%. The winner is Playtech with +1%.
• Affiliates – On average, affiliates’ shares saw a decrease of -0.1% with Catena Media (+5%) leading and Gambling.com (-8%) coming last.

The share increase of Catena Media

Catena Media’s shares gained during the week after investors continued to react positively to the company’s improving shareholder structure following the disclosure that Nordic Compound Invest had increased its stake above 10% earlier in July. With no negative company announcements during the week and the next quarterly results scheduled for 11 August, the higher ownership commitment appears to have supported market sentiment and helped lift the stock.

The decline of Rush Street shares

Rush Street Interactive’s shares came under pressure last week as investors appeared to take profits ahead of the company’s second-quarter results, which are scheduled for 29 July. With no major corporate announcements during the week following the Alberta launch earlier in July, market attention shifted to earnings expectations, contributing to weaker sentiment ahead of the release.

Please find more data and the methodology applied in the current edition of the OGQ Magazine. Also, find more content in our data section.

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Overview

• Average growth – On average, share prices analyzed decreased by -2% in the last week.
• “Winner” – The most significant leap in our sample of online gambling-focused companies was taken by Gentoo Media with an increase of +8%, followed by Bet-at-Home (+3%).
• “Loser” – Flutter  had the worst weekly performance in our analysis, with a change of -11%.
• Comparison to the Nasdaq Composite – Compared to the development of the Nasdaq Composite (-1%), the average development of the online gambling industry looks “worse”.

Segment-specific developments

• Online-focused operators – The shares of online-focused operators included in the analysis saw, on average, a decrease of -3%; with Bet-at-Home (+3%) leading the ranking.
• Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, Caesars is the “winner” with +0.7% while the average share development was -1%.
• Suppliers – The shares of the suppliers included in the analysis saw, on average, a decrease of -3%. The winner is Kambi with +3%.
• Affiliates – On average, affiliates’ shares saw a decrease of -0.2% with Gentoo Media (+8%) leading and Gambling.com (-5%) coming last.

The share increase of Gentoo Media

Gentoo Media’s shares were supported by the company’s announcement of Måns Svalborn as its new Chief Financial Officer on 13 July. Investors appeared to welcome the appointment, as Svalborn brings more than two decades of financial leadership experience in the iGaming sector, including his previous role as Group CFO at Raketech, reinforcing confidence in Gentoo’s management team following the CFO transition earlier this year.

The decline of Flutter shares

Flutter did not announce any material company-specific news between 13 and 17 July that would explain the sharp share price decline. Instead, the stock appears to have come under pressure as investors continued to rotate out of growth names during a broader market sell-off, while ongoing concerns about increasing competition from prediction markets and the company’s upcoming London Stock Exchange delisting continued to weigh on sentiment.

Please find more data and the methodology applied in the current edition of the OGQ Magazine. Also, find more content in our data section.

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Overview

• Average growth – On average, share prices analyzed increased by +3% in the last week.
• “Winner” – The most significant leap in our sample of online gambling-focused companies was taken by Playtech with an increase of +18%, followed by Raketech (+14%).
• “Loser” – Penn had the worst weekly performance in our analysis, with a change of -4%.
• Comparison to the Nasdaq Composite – Compared to the development of the Nasdaq Composite (+1%), the average development of the online gambling industry looks “better”.

Segment-specific developments

• Online-focused operators – The shares of online-focused operators included in the analysis saw, on average, an increase of +2%; with Flutter (+6%) leading the ranking.
• Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, FDJ United is the “winner” with +4% while the average share development was -0.1%.
• Suppliers – The shares of the suppliers included in the analysis saw, on average, an increase of +7%. The winner is Playtech with +18%.
• Affiliates – On average, affiliates’ shares saw an increase of +3% with Raketech (+14%) leading and Gambling.com (-4%) coming last.

The share increase of Playtech

Playtech shares rallied after the company released a trading update on 9 July showing first-half 2026 earnings well ahead of market expectations and raising its full-year EBITDA guidance to at least EUR 270 million. Investors responded positively to particularly strong momentum in the US and Latin America, with management highlighting exceptional performance from its partnership with Hard Rock Digital and continued growth across regulated markets.

The decline of Penn shares

PENN Entertainment shares weakened last week despite the absence of any company-specific negative news. Following the company’s announcement at the end of June that it will report second-quarter results on 6 August, investors appeared to take profits after the stock’s strong run in recent weeks, while the broader market rotated away from regional gaming names ahead of earnings season.

Please find more data and the methodology applied in the current edition of the OGQ Magazine. Also, find more content in our data section.

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Overview

• Average growth – On average, share prices analyzed increased by +2% in the last week.
• “Winner” – The most significant leap in our sample of online gambling-focused companies was taken by Gentoo Media with an increase of +23%, followed by Catena Media (+13%).
• “Loser” – Entain and Gambling.com had the worst weekly performance in our analysis, with a change of -11% and -6%.
• Comparison to the Nasdaq Composite – Compared to the development of the Nasdaq Composite (+0%), the average development of the online gambling industry looks “better”.

Segment-specific developments

• Online-focused operators – The shares of online-focused operators included in the analysis saw, on average, an increase of +2%; with Bet-at-Home (+7%) leading the ranking.
• Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, FDJ United is the “winner” with +4% while the average share development was -1%.
• Suppliers – The shares of the suppliers included in the analysis saw, on average, an increase of +1%. The winner is Jumbo Interactive with +9%.
• Affiliates – On average, affiliates’ shares saw an increase of +6% with Gentoo Media (+23%) leading and Gambling.com (-6%) coming last.

The share increase of Gentoo Media

Gentoo Media’s strong share price performance during the week was likely supported by a regulatory filing on 3 July showing insider share purchases, with CEO Jonas Warrer disclosing that he had acquired additional shares in the company. Insider buying is often viewed by investors as a signal of management’s confidence in the business, which appears to have strengthened market sentiment and contributed to the stock’s advance.

The decline of Entain shares

Entain’s shares came under pressure after the market digested the company’s announced partial exit from its Central and Eastern European business, with analysts shifting the focus to the possibility of further asset disposals, including its Italian operations. While the long-term strategic rationale was viewed positively, the discussion reinforced investor concerns about Entain’s ongoing restructuring and the challenges facing the group, weighing on sentiment during the week.

Please find more data and the methodology applied in the current edition of the OGQ Magazine. Also, find more content in our data section.

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Overview

• Average growth – On average, share prices analyzed decreased by -0.7% in the last week.
• “Winner” – The most significant leap in our sample of online gambling-focused companies was taken by Entain with an increase of +6%, followed by MGM (+6%).
• “Loser” – Jumbo Interactive and Evolution had the worst weekly performance in our analysis, with a change of -21% and -6%.
• Comparison to the Nasdaq Composite – Compared to the development of the Nasdaq Composite (-3%), the average development of the online gambling industry looks “better”.

Segment-specific developments

• Online-focused operators – The shares of online-focused operators included in the analysis saw, on average, a decrease of -0.6%; with Rush Street (+3%) leading the ranking.
• Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, Entain is the “winner” with +6% while the average share development was +3%.
• Suppliers – The shares of the suppliers included in the analysis saw, on average, a decrease of -5%. The winner is Bragg with +3%.
• Affiliates – On average, affiliates’ shares saw a decrease of -1.0% with Catena Media (+4%) leading and Gambling.com (-6%) coming last.

The share increase of Entain

Entain’s shares gained ground after the company announced the sale of an initial 20% stake in its Central and Eastern European business to EMMA Capital for approximately EUR 425 million, marking the first step in a planned full exit from the venture. Investors welcomed the deal because it unlocks value, reduces debt, simplifies the group’s structure and leaves management comfortable with its full-year EBITDA expectations despite the accounting changes.

The decline of Jumbo Interactive shares

Jumbo Interactive’s shares came under pressure after a broker downgrade during the week, with analysts taking a more cautious stance on the stock despite maintaining a positive long-term view of the business. The decline was amplified by the absence of any new company-specific catalysts, leaving investors focused on valuation and profit-taking following earlier gains.

Please find more data and the methodology applied in the current edition of the OGQ Magazine. Also, find more content in our data section.

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Overview

• Average growth – On average, share prices analyzed decreased by -2% in the last week.
• “Winner” – The most significant leap in our sample of online gambling-focused companies was taken by Bragg with an increase of +5%, followed by Catena Media (+4%).
• “Loser” – Playtech and DraftKings had the worst weekly performance in our analysis, with a change of -10% and -8%.
• Comparison to the Nasdaq Composite – Compared to the development of the Nasdaq Composite (-1%), the average development of the online gambling industry looks “worse”.

Segment-specific developments

• Online-focused operators – The shares of online-focused operators included in the analysis saw, on average, a decrease of -3%; with PointsBet (+2%) leading the ranking.
• Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, Evoke is the “winner” with +2% while the average share development was -3%.
• Suppliers – The shares of the suppliers included in the analysis saw, on average, a decrease of -3%. The winner is Bragg with +5%.
• Affiliates – On average, affiliates’ shares saw a decrease of -0.7% with Catena Media (+4%) leading and Gambling.com (-3%) coming last.

The share increase of Bragg

Bragg’s shares moved higher during the week after the company announced the results of its Annual Meeting of Shareholders on June 19, where all nominated directors were elected with strong shareholder backing. Investors also continued to react positively to the company’s recently announced private placement and the involvement of industry veteran Matt Davey, which reinforced confidence in Bragg’s growth strategy and long-term outlook.

The decline of Playtech shares

Playtech’s shares came under pressure last week as investors took profits following the strong rally that followed the company’s upbeat trading update in May. With no new positive announcements released during the week and ongoing uncertainty surrounding Playtech’s legal dispute with Evolution, some investors appeared to adopt a more cautious stance, contributing to the share price weakness.

Please find more data and the methodology applied in the current edition of the OGQ Magazine. Also, find more content in our data section.

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Overview

• Average growth – On average, share prices analyzed increased by +3% in the last week.
• “Winner” – The most significant leap in our sample of online gambling-focused companies was taken by DraftKings with an increase of +17%, followed by Rush Street (+13%).
• “Loser” – Catena Media had the worst weekly performance in our analysis, with a change  -4%.
• Comparison to the Nasdaq Composite – Compared to the flat performance of the Nasdaq Composite, the online gambling industry performed better on average.

Segment-specific developments

• Online-focused operators – The shares of online-focused operators included in the analysis saw, on average, an increase of +4%; with DraftKings (+17%) leading the ranking.
• Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, Penn is the “winner” with +13% while the average share development was +5%.
• Suppliers – The shares of the suppliers included in the analysis saw, on average, an increase of +2%. The winner is Jumbo Interactive with +8%.
• Affiliates – On average, affiliates’ shares saw a decrease of -0.4% with Better Collective (+3%) leading and Catena Media (-4%) coming last.

The share increase of DraftKings

DraftKings shares moved sharply higher during the week of 8–12 June after the company highlighted strong momentum in its DraftKings Predictions business. Investor sentiment was boosted by disclosures showing annualized trading volume on the platform rose 34% month-on-month to USD 3.1 billion in May, reinforcing expectations that prediction markets could become a meaningful new growth driver for the company.

The decline of Catena Media shares

Catena Media’s shares weakened during the week of 8–12 June as investors appeared to lock in gains following the company’s strong rally after its Q1 results in May. With no new operational updates or growth announcements released during the week, sentiment remained cautious, particularly as the market continued to focus on the longer-term challenges facing the North American affiliate sector and ongoing search traffic volatility.

Please find more data and the methodology applied in the current edition of the OGQ Magazine. Also, find more content in our data section.

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Overview

• Average growth – On average, share prices analyzed decreased by -0.5% in the last week.
• “Winner” – The most significant leap in our sample of online gambling-focused companies was taken by Evoke with an increase of +20%, followed by Codere Online (+3%).
• “Loser” – Jumbo Interactive had the worst weekly performance in our analysis, with a change of -7%.
• Comparison to the Nasdaq Composite – Compared to the development of the Nasdaq Composite (-5%), the average development of the online gambling industry looks “better”.

Segment-specific developments

• Online-focused operators – The shares of online-focused operators included in the analysis saw, on average, a decrease of -0.1%; with Codere Online (+3%) leading the ranking.
• Multi-channel operators – Among the multi-channel operators that also operate a relevant retail business, Evoke is the “winner” with +20% while the average share development was +1%.
• Suppliers – The shares of the suppliers included in the analysis saw, on average, a decrease of -3%. The winner is Sportradar with +0.9%.
• Affiliates – On average, affiliates’ shares saw a decrease of -0.4% with Better Collective (+2%) leading and Gentoo Media (-4%) coming last.

The share increase of Evoke

Evoke’s strong share price performance during the week was primarily driven by the announcement on 4 June that the company had agreed to a recommended £243 million takeover by Bally’s Intralot. The deal offered a substantial premium to Evoke’s previous market valuation, prompting investors to reprice the stock sharply higher as the board described the transaction as the most attractive outcome for shareholders.

The decline of Jumbo Interactive shares

Jumbo Interactive’s share price weakness during the week appears to have been driven more by investor sentiment than by any positive company-specific catalyst. Notably, the company released an ASX filing on 5 June disclosing a share sale by CEO and founder Mike Veverka, a development that can sometimes be interpreted by the market as a negative signal and put short-term pressure on the stock.

Please find more data and the methodology applied in the current edition of the OGQ Magazine. Also, find more content in our data section.

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