Kambi declared its first entirely AI-traded FIFA World Cup a success on Wednesday, reporting that its automated system priced, managed, and settled markets across all 104 matches without manual intervention. The AI-driven approach completed a commitment the company made in April, when AI was handling 60% of bets across its network. Kambi's Turnkey Sportsbook partners processed more than $1.14 billion in tournament stakes and over 100 million bets, recording an 18% operator trading margin—a milestone CEO Werner Becher described as "impossible to deliver through manual trading."
Kambi Reports $52.3M Q2 Revenue Following AI-Driven World Cup
Kambi reported Q2 revenue of $52.3 million, up 13.5% year over year, while adjusted EBITA more than doubled to $8.7 million. The company raised its estimated full-year adjusted EBITA range from $22.8 million–$28.5 million to $26.2 million–$30.8 million following the completed tournament. The $1.14 billion and 18% World Cup figures cover games played across June and July, rather than Q2 alone.
The AI system performed functions ordinarily handled partly by sportsbook trading teams, including compiling and adjusting odds, managing risk and liabilities, controlling market availability, and settling bets after results were confirmed. Becher said the platform recorded no downtime, and average turnover per match rose approximately 20% from the previous tournament in 2022.
Live Bet Builder products accounted for 22% of live bets, up from 3% during the 2022 tournament, while Bet Builders represented 35% of all pre-match and live bets. The written report said Kambi processed more than one million unique bets during the Spain–Argentina final, while Becher described them during the earnings call as unique combinations. Millions more bets flowed through Odds Feed+, although Kambi does not receive complete wager and settlement data from operators using that product.
Kambi Evaluates Prediction Market Entry Amid Licensing Constraints
Asked about the format's future, Becher said Kambi was awaiting clearer court decisions before acting. He said the company was already "evaluating options, partnerships, developing it in-house," but had not selected a route or announced a product.
Becher said Kambi's licenses in more than 70 jurisdictions prevent it from entering while the legal status of sports event contracts remains contested. The company would be able to serve partners if prediction markets receive clear legal and licensing recognition in the US, he added. That position goes further than his April statement that prediction platforms had produced "no material impact" on Kambi's business in regulated states.
Pressed on estimates that prediction markets took close to 30% of US sports-betting volume during the tournament, Becher tied that share to states without legal sportsbooks. "30% of the US population is living in Texas and California, where sports betting is not regulated yet," he said. "I think you have your answer where they made their 30%."
The exploration comes after the World Cup drove prediction-market volume to a $44.8 billion monthly record in June and sportsbook operators launched proprietary exchanges of their own, with Draftkings debuting DKeX in June. Kambi could enter as a technology and trading supplier rather than building a consumer-facing exchange under its own brand.
FAQ
What did Kambi announce on Wednesday about its World Cup operations?
Kambi announced that its AI system priced, managed, and settled markets across all 104 World Cup matches without manual intervention, processing more than $1.14 billion in stakes at an 18% operator trading margin.
Why is Kambi unable to launch a prediction market product in the US?
CEO Werner Becher stated that Kambi's licenses in more than 70 jurisdictions prevent it from entering while the legal status of sports event contracts remains contested, and the company is awaiting clearer court decisions before acting.
How did Kambi's Q2 financial performance compare to the previous year?
Kambi reported Q2 revenue of $52.3 million, up 13.5% year over year, while adjusted EBITA more than doubled to $8.7 million, prompting the company to raise its full-year EBITA guidance.
