Webis, the owner of advance-deposit wagering (ADW) operator Watchandwager.com, reported a turnover of $5.9m in the six months to 31 November 2023. This was a 4.8% decrease from the previous year’s figure of $6.2m. The decline in turnover was attributed to external factors, such as the cancellation of US events due to bad weather.
Despite the decrease in turnover, Webis remains optimistic about its performance in the second half of the year. The company’s B2C division exceeded expectations in the first half, although the overall ADW market in the US declined by 10.8% year-on-year.
Operating costs were slightly lower in H1, but this did not prevent the operating loss from widening by 90.2% to $464,000. The net loss also increased to $541,000, compared to $325,000 in the previous year.
Looking ahead, Webis plans to focus on growing its B2C business, expanding its land-based licences, providing third-party services, and exploring new opportunities in the regulated US market.
