Inspired reported strong growth in online revenue from its core areas of online casino and virtual sports, surpassing market trends in 2019. Despite the impact of the Covid-19 pandemic, the market for online casino and virtual sports grew in 2020. The majority of Inspired’s growth came from its existing customer base in Europe, as more players turned to online play. Additionally, Inspired acquired over 50 new online customers in various markets, including the UK, New Jersey, Canada, Mexico, Germany, and Sweden. With recent licenses obtained in Michigan and West Virginia, Inspired expects its revenue to continue growing as it expands into new jurisdictions. The scalable nature of Inspired’s online business is predicted to result in a rise in operating income margins along with revenue. By the end of 2020, Inspired’s online casino product reached a peak of 22,000 plays per minute, an increase of 175% from the beginning of the year.
In terms of partnerships, European online giant Entain recently agreed to launch Inspired’s range of virtual sports games, following a longstanding collaboration between the two companies. In August, Inspired announced that its overall revenue across all channels for the first half of 2020 reached $67.9m, representing a year-on-year growth of 12.4%. However, the net loss increased to $41.9m compared to $15.7m in the previous year.
