Banijay Group reinforces leadership in sports betting and online gaming with the acquisition of a majority stake in Tipico Group

Banijay Gaming to double in revenue and free cash flow with the combination of Betclic and Tipico under one roof.

  • Banijay Group, the Entertainment powerhouse, has signed a binding agreement with CVC and Tipico’s founders to combine Betclic and Tipico groups, becoming the majority shareholder of the combined entity, and creating a European champion in sports betting and online gaming. Banijay Group will buy the major stake of CVC in Tipico in cash, and all shareholders of Betclic and Tipico, including the respective founders, will become shareholders of the combined entity.
  • With the addition of Tipico Group, leader in sports betting and online gaming in Germany and Austria, Banijay Group would bring, on a pro forma basis [1], its revenue to €6.4bn and its adjusted EBITDA to €1.4bn in 2024.
  • Banijay Group’s gaming activity – Banijay Gaming – which would double in revenue, adjusted EBITDA and free cash-flow and regroup three strong brands: Betclic, Tipico and Admiral [2]generated €3.0bn in revenues, €854m in Adjusted EBITDA and €716m in Adjusted free cash flow in 2024, on a pro forma basis. Together, they serve almost 6.5m unique active players annually, operate more than 1,250 betting shops in Germany and Austria and employ 5,300 employees.
  • Betclic and Tipico are two complementary local champions with leading positions in six highly attractive and fully regulated markets (Germany, France, Portugal, Austria, Poland, and Côte d’Ivoire) thanks to strong tech and product expertise, joining forces to become the fourth largest European sports betting and gaming player [3] and the leader of sports betting in Continental Europe.
  • Combining Betclic’s recognized digital expertise with Tipico’s omnichannel offer would broaden the Group’s capabilities across all distribution channels, strengthening its strategic positioning and enabling a seamless and differentiated customer experience.
  • Attractive value proposition for stakeholders, with a target of ~€100m annual synergies in the medium term, focused on topline growth and platform
  • Through this transaction, Banijay Gaming would bring together two leading operators of similar scale with shared values, backed by highly experienced management teams. In the current deal, the Enterprise values agreed by the parties for Betclic and Tipico groups amount to €4.8bn and €4.6bn respectively.
  • Banijay Group will be the controlling shareholder with 65% [4] of the capital at closing, aiming to reach a minimum of 72% in the target structure through call options agreed on the shares held by CVC and the managers of Tipico. The founders of both Betclic and Tipico will remain long-term shareholders in Banijay Gaming alongside Banijay Group, resulting from their full roll-out into Banijay Gaming, reflecting a long-term partnership and full alignment on future value creation.
  • As of January 1st 2026, Nicolas Béraud, Betclic CEO, will become Chairman of the Board of Banijay Gaming, while Lov Group Invest will continue as President. Julien Brun, currently COO of Betclic, will succeed Nicolas Béraud as Betclic CEO. After completion of the transaction, Joachim Baca, Chairman and former CEO of Tipico, will become Vice-Chairman of the Board of Banijay Gaming, while Axel Hefer, CEO of Tipico, will remain in his current role.
  • The transaction will be fully backed by a certain funds financing package for a principal amount equal to approximately €3bn, including the refinancing of Tipico Group’s existing debt, underwritten by certain of Betclic’s main financing partners. Banijay Group’s post-transaction leverage is expected at 3.5x, with a reduction below 2.5x within three years after closing, driven by strong cash-flow generation supporting both deleveraging and increasing stake into Banijay Gaming (72% ownership minimum in the target structure). Excluding the exercise of call options, deleveraging is expected to be around 0.5x per year.
  • Completion of the transaction is expected in mid-2026, following satisfaction of customary conditions precedent, in particular merger control and gambling regulatory approvals.

Stéphane Courbit, President of Lov Group Invest, added: “Banijay Group’s story is one of sustained growth and expansion – uniting entrepreneurs, talent and expertise across industries to build champions. The addition of Tipico marks another decisive step in that journey and reinforces our position as a driving force in the European sports betting and gaming landscape. This is a strong move that reflects our ambition and long-term vision.”

François Riahi, CEO of Banijay Group, commented: “We are delighted to announce this transformative deal for Banijay Group. As presented during our Capital Markets Day, Banijay Group is a natural consolidator in the field of Entertainment and is able to seize opportunities to expand and to create value. Tipico fits perfectly well in this strategy and is in line with our DNA: strong leader in two important markets, fully regulated, product focused, highly profitable, providing us – in the sports betting business – with the reach, the scale and the diversification that already make the strength of our content business. I am particularly pleased to see that Tipico founders have decided to partner with us to build a new European leader in the sports betting business, rolling over all their stake in Tipico into Banijay Gaming, which is fully consistent with our DNA to gather strong entrepreneurs for the long term and a testimony to their trust in the future value creation. Nicolas Béraud, Betclic founder, also reiterated his commitment to Banijay Gaming by increasing his stake in the business on the occasion of the deal through an evolution of his LTIP, and moving to the Banijay Gaming Chairman position as of 2026.”

Nicolas Béraud, Founder of Betclic and future Chairman of Banijay Gaming, added: “It is an exciting landmark moment for Betclic and Banijay Gaming. Through the proposed combination leveraging three strong brands: Betclic, Tipico, Admiral – Banijay Gaming is building a new European leader one that combines scale with innovation, and a deep commitment to sustainable, regulated entertainment. Betclic and Tipico share the same set of values: the passion for sport, the sense of innovation and the focus on the markets where they can win. Together, we will be stronger, with the scale, talent, and innovation needed to deliver unmatched experience for our players, while opening new opportunities for our teams and partners across Europe.”

Axel Hefer, CEO of Tipico, added: “Joining forces with Betclic represents a pivotal milestone in Tipico’s growth journey. It is the deal we have been working towards – from refocusing on Europe after the sale of our US business, to last year’s expansion in Austria, and now building a broader European platform. This partnership provides the scale and resources to accelerate product innovation, make bold investments in technology and set new standards for our customers. Combining local market knowledge with a truly European vision will unlock untapped potential and create lasting value for our customers, our employees, our partners and the industry at large.”

Daniel Pindur, Managing Partner at CVC Capital Partners and Co-Head of CVC DACH, said: “Since our investment in Tipico, we have worked closely with its founders and management to transform the company into the leading sports betting and gaming operator in the DACH region, with scale, innovation and a strong position in regulated markets. The combination with Betclic is the natural next step in this growth story, uniting two market leaders with complementary strengths to create a European champion. We are proud of what has been achieved together and look forward to supporting the new group as it enters its next phase.”

Reinforcement of Banijay Group’s sports betting and online gaming activity

This strategic acquisition fits seamlessly within Banijay Group’s broader strategy, presented during its Capital Markets Day in May 2025, to scale across Entertainment, Live, and Gaming – cementing its status as a leading content powerhouse across the global entertainment industry.

It will rebalance the Group’s portfolio, creating a more even split in revenues between Entertainment & Live and Gaming activities. On a pro forma basis, Banijay Entertainment & Live represented €3,348m (53%) of 2024 revenue (vs. 70% reported [5]), while Banijay Gaming amounted to €3,022m (47%) (vs. 30% reported [5]).

At Adjusted EBITDA level, on a pro forma basis, Banijay Entertainment & Live contributed €528m (38%) of adjusted EBITDA in 2024 (vs. 58% reported[5]) and Banijay Gaming €854m (62%) (vs. 42% reported [5]), highlighting the enhanced scale of the Gaming division.

Creation of a European leader with deep local roots and relevance

Banijay Gaming, which will regroup Betclic, Tipico and Admiral Austria, will operate exclusively in locally regulated markets and maintain the highest standards of player protection, integrity and responsible gaming. The combined group will unite strong local champions across key markets. Betclic is a leading operator in France, Portugal, Poland and Côte d’Ivoire, generating €1.4bn in revenues in 2024 [6] through its strong digital expertise. Tipico is Germany’s leading omnichannel sports betting and online gaming operator, with €1.3bn in 2024 revenues. In September 2025, Tipico further expanded its footprint with the acquisition of Admiral in Austria, a long-established omnichannel sports betting and retail gaming brand in Austria, which delivered €346m in revenues in 2024.

Together, they generated, on a pro forma basis, €3.0bn in revenues, €854m in adjusted EBITDA and €716m in Adjusted free cash flow in 2024, served almost 6.5m unique active players annually and operated over 1,250 betting shops throughout Germany and Austria. By uniting respected brands with deep market roots, Banijay Group will double its revenue in sports betting and online gaming, marking a major step forward in its ambition to build a European champion in the sector, while preserving the unique DNA and strength of each local brand.

Strong strategic fit and complementarity

The transaction unites local champions with complementary strengths and local expertise: Betclic, a digital pioneer in France, Portugal, Poland and Côte d’Ivoire; Tipico, an omnichannel powerhouse in Germany and Austria. This combination will create a balanced geographic footprint across regulated and fast-growing markets and enable Banijay Gaming to deliver a seamlessly integrated, multi-channel offering. By operating across multiple regulated markets and combining both retail and online strengths, Banijay Gaming will create an even more sustainable platform for long-term growth, with a large diversity of markets and products.

While Betclic and Tipico share an entrepreneurial mindset and strong cultural alignment, they will continue to operate with their own governance and autonomous management teams and will preserve their unique brands and their proprietary platforms.

As of January 1st 2026, Nicolas Béraud will become Chairman of Banijay Gaming alongside Lov Group which will remain President, overseeing the development of Betclic and Tipico, with Julien Brun taking over as CEO of Betclic. After completion of the transaction, Joachim Baca will join the Board of Banijay Gaming as Vice-President and Axel Hefer will remain CEO of Tipico. Tipico’s founders will remain fully invested, with no cash-out as part of the transaction, demonstrating their confidence in the transaction and their commitment to leading Banijay Gaming’s next phase of growth.

Compelling value creation

Leveraging Banijay Group’s proven M&A track record, this combination unites local champions, coming together to share best practices, pool capabilities and expertise, and achieve scale that will expand market reach, drive strong profitability, and generate robust cash flow.

On a pro forma basis, the combined entity delivered €6.4bn in revenues and €1.4bn in adjusted EBITDA in 2024. The transaction is expected to be margin-accretive, with profitability rising from 18.7% on a reported basis to 21.6% on a pro forma basis in 2024.

In addition, the Group plans to break down its synergy’s execution plan in two phases, the first one focused on stabilization to ensure operational continuity, business momentum and cultural alignment, while delivering revenue and cost synergies, before deploying in a second phase its integration plan, initiating IT and platform convergence. This second step will focus on identifying growth opportunities by optimal systems and combination paths to ensure seamless transition toward unified and scalable architecture.

At the term of the execution plan, the Group expects to generate ~€100 million annual synergies in the medium term, balanced between topline growth and cost, including capex and opex efficiencies:

  • Accelerated product innovation, by combining complementary technologies and creative talent to pioneer next-gen user experiences
  • Scaling innovation across markets, by rolling out local successes across our footprint, leveraging leadership positions and accelerate growth momentum
  • Unlocking new growth frontiers, by leveraging increased scale and a full omnichannel offer to unleash new opportunities across markets and products
  • Optimized infrastructure and tech efficiency, through enhanced digital and IT systems, as well as cloud hosting and shared tools
  • Shared procurement power across entities, to capture economies of scale with key suppliers.

Transaction terms

The valuation used for Betclic and Tipico groups in the context of the combination of the two entities under Banijay Gaming is based on respective Enterprise values of €4.8bn and €4.6bn. The combination would be implemented through an acquisition by Banijay Group of Tipico (including Admiral Austria).

Tipico’s founders will roll over 100% of their shares while CVC will roll over its remaining stake into Banijay Gaming. The founders of both Betclic and Tipico will remain long-term shareholders alongside Banijay Group, reflecting a long-term partnership and full alignment on future value creation.

Following these steps, on a fully diluted basis [7], Banijay Group would own approximately 64.9% of the combined entity, over which it would have exclusive control. The Tipico founders, CVC, Nicolas Béraud [8] and the Tipico managers would hold 35.1%. Banijay Group aims to reach a minimum of 72% in the target structure through call options agreed on the shares held by CVC and the managers of Tipico. CVC will remain a minority shareholder in the medium term to support the company’s continued development.

The transaction will be fully backed by a certain funds financing package for a principal amount equal to approximately €3bn, including the refinancing of Tipico Group’s existing debt, underwritten by certain of Betclic’s main financing partners. Banijay Group’s post-transaction leverage is expected at 3.5x, with a reduction below 2.5x within three years after closing, driven by strong cash-flow generation supporting both deleveraging and increasing stake into Banijay Gaming (72% ownership minimum in the target structure). Excluding the exercise of call options, deleveraging is expected to be around 0.5x per year. Banijay Group remains committed to a prudent capital structure and expects to deleverage rapidly through strong cash flows from the combined operations.

Betclic and its current shareholders benefit from the standard representations and warranties associated with this type of transaction and from certain specific indemnities relating to identified risks, including those relating to the impact of changes to gaming and betting regulations in Germany and Austria.

Betclic will divest its 53.9% stake in Bet-at-home.com AG, a German online gaming and sports betting company.

Next steps and timeline

The proposed transaction is subject to customary conditions precedent, in particular merger control and gambling regulatory approvals, and is expected to close by mid-2026.

*****

Investor Presentation

Banijay Group is hosting a presentation and Q&A at 7:30 AM CET on Tuesday, October 28th.

Webcast live:

You can watch the presentation on the following link:

https://edge.media-server.com/mmc/p/nbte538k/

Dial-in access telephone numbers:

You need to register to the following link:

https://register-conf.media-server.com/register/BIe26fedf9f4764b1baa9867cfd7e51913

The presentation is available on the Group’s website, in the “Investor relations” section:

https://group.banijay.com/investor/

Investor Relations

investors@group.banijay.com

Press Relations

banijaygroup@brunswickgroup.com

Hugues Boëton +33 6 79 99 27 15

Nicolas Grange +33 6 29 56 20 19

Rana Badawi +33 6 31 27 93 19

 

About Banijay Group

Banijay Group is a global entertainment leader founded by Stéphane Courbit, a 30-year entrepreneur and entertainment industry pioneer. Our mission is to inspire passion by providing audiences with engaging and innovative entertainment experiences. The Group’s activities include Content production & distribution (through Banijay Entertainment, the largest international independent producer distributor), Live experiences (through Banijay Live, a leading player in live experiences) and Online sports betting & gaming (through Banijay Gaming, Europe’s fast-growing online sports betting platform). In 2024, Banijay Group recorded revenue of €4.8bn and Adjusted EBITDA of €900m. Banijay Group is listed on Euronext Amsterdam (ISIN: NL0015000X07, Bloomberg: BNJ NA, Reuters: BNJ.AS).

 

About Betclic

Founded in 2005 by Nicolas Béraud, Betclic is a leader in online sports betting and gaming in several European countries. The company offers sports betting, horse racing, poker, and online casino services. Betclic’s teams are committed daily to fostering a passion for sports and gaming in society by providing new experiences that are accessible, entertaining, and responsible.

In 2024, Betclic Group [9] generated approximately €1.4bn in revenues, and €375m in adjusted EBITDA.

About Tipico

Tipico Group is the leading sports betting and online gaming provider in Germany and, in terms of its subsidiary ADMIRAL Austria, the number one operator in sports betting and retail slots gaming in Austria. As a pioneer in the industry, Tipico has been offering its customers state-of-the-art technology and innovative products for 20 years. Tipico continuously sets new technological standards, especially in terms of speed, security, and user-friendliness. Hundreds of developers work on improving our products every day in our technology hubs in Germany, Austria and Malta. We are particularly focused on data security and consumer protection; effective and evidence-based player protection measures are an integral part of all our offerings. Founded in 2004, Tipico Group now employs around 3,800 staff members. Together with our partners, almost 6,800 people take care of our customers every day in over 1,250 betting shops across Germany and Austria, making Tipico Group the operator of the largest shop network in the German-speaking region.

Tipico is a partner of Deutscher Fußball-Bund (DFB) and of DFL Deutsche Fußball Liga e.V.

ADMIRAL pursues a broad commitment to sports in Austria and is, among other engagements, a partner of Österreichische Fußball-Bundesliga (ÖFBL) and of Österreichischer Fußball-Bund (ÖFB).

 

About CVC

CVC is a leading global private markets manager with a network of 30 office locations throughout EMEA, the Americas, and Asia, with approximately €200 billion of assets under management. CVC has seven complementary strategies across private equity, secondaries, credit and infrastructure, for which CVC funds have secured commitments of over €243 billion from some of the world’s leading pension funds and other institutional investors. Funds managed or advised by CVC’s private equity strategy are invested in approximately 150+ companies worldwide, which have combined annual sales of over €165 billion and employ nearly 600,000 people. CVC has been an established player in the German-speaking region for over 30 years and has successful partnerships with founder- and family-run companies, including Douglas, Europe’s leading omnichannel provider of premium beauty, CompuGroup Medical, a Germany-based multinational health IT company, and until recently DKV Mobility, a leading service provider for international mobility. For further information about CVC please visit: https://www.cvc.com/. Follow us on LinkedIn.

Important Information — Forward-Looking Statements

This press release includes forward-looking statements. The forward-looking statements are generally identified by the use of forward-looking words, such as “will,” “consider”, “plan”, “think”, “have the objective”, “expect”, “intend”, “should”, “aim”, “estimate”, “believe”, “wish”, “could” or other variations of such terms, or by discussion of strategy. This information is not historical data and must not be interpreted as guarantees that the facts and data set forth will occur. This information is based on data, assumptions, and estimates that Banijay Group believes is reasonable. They may change or be modified because of uncertainties related, for example, to the economic, financial, competitive, or regulatory environment, all of which are outside of our control. You are cautioned not to place undue reliance on any forward-looking statement contained in this press release, which speaks only as at the date hereof. In light of these risks, uncertainties and assumptions, the forward-looking events described herein may not occur. In particular, the acquisition of a majority stake in Tipico by Banijay Group is subject to regulatory approvals, and there can be no guarantee that such acquisition will be consummated within the anticipated timeline, or at all.

Important Information — Pro Forma Financial Information

The pro forma financial information in respect of the combined group presented in this press release is based upon available information, including preliminary estimates that are subject to change once more detailed information is obtained, and certain assumptions. The pro forma financial information is presented for information purposes only and is not intended to represent or be indicative of the financial condition or results of operations that Banijay Group would have reported had the acquisition of a majority stake in the Tipico by Banijay Group actually occurred during the periods and as of the dates presented, and such information does not purport to project our results of operations or financial condition as of any future date or for any future period. The pro forma financial information has not been prepared in accordance with the requirements of Regulation S-X of the Securities Act, the Prospectus Regulation or any generally accepted accounting standards. Neither the assumptions underlying the pro forma adjustments nor the resulting pro forma financial information have been audited or reviewed and, as a results actual results of the combined group upon consummation of the acquisition may vary materially therefrom.

 

[1] Including full year contribution of Tipico and Admiral Austria in 2024, and excluding 2024 full year contribution of Bet-at-home

[2] Admiral Austria has been acquired by Tipico in September 2025

[3] In revenue in 2024 (excluding lottery), among listed players

[4] Stakes given on a fully diluted basis

[5] In 2024 published results

[6] Excluding contribution from Bet-at-home in 2024

[7] Rounded figures, on a fully diluted basis, considering the implementation of Nicolas Béraud’s LTIP plan through the allocation of free shares in Banijay Gaming

[8] Directly and through his personal holding company, Kostogri

[9] Excluding contribution from Bet-at-home in 2024

Tipico acquires ADMIRAL Austria from NOVOMATIC

  • Tipico Group strengthens its position in Austria
  • NOVOMATIC AG sharpens focus on international growth markets
  • Tipico and Admiral: two strong brands will remain in Austria

St. Julian’s/Karlsruhe/Gumpoldskirchen – September 8th, 2025. Tipico Group, the leading provider of sports betting and online gaming in the German-speaking region, announces today that the acquisition of 100% of ATLAS Group GmbH, the parent company of ADMIRAL Group in Austria, has been completed. For Tipico Group, this investment is an important step in further strengthening its position in Austria and broadening its portfolio. With this transaction, NOVOMATIC AG is sharpening its focus on further international expansion as a global innovation leader in the industry.

Both the Tipico and ADMIRAL brand will remain active in the Austrian market with online offerings. As a consequence of requirements of the Austrian Federal Competition Authority for the approval of the transaction, Tipico will divest a main portion of its Austrian retail outlets. The remaining Tipico shops in Austria will be operated under the ADMIRAL brand within the existing ADMIRAL shop network going forward.

Axel Hefer, CEO Tipico Group said: “We are delighted about the successful completion of this transaction. ADMIRAL is a leading Austrian company with a strong legacy, and clear potential for future growth. Both companies are synonymous with state-of-the-art technology, innovative products and a high focus to player protection. Our future collaboration is very good news for our customers.” And further: “This investment marks an important step in Tipico’s growth strategy and underscores our leading role in the German-speaking markets.”

Stefan Krenn, Executive Board Member NOVOMATIC AG emphasized: “The completion of this transaction marks an important step in our global expansion strategy with a clear focus on international growth markets. ADMIRAL has developed into an established market leader over the past decades, and we thank all ADMIRAL employees for their great commitment. We are pleased to have found a strong and reliable technology partner in Tipico, who will successfully continue the company’s operations in Austria.“

Tipico Launches “Tipico Million”

  • Seven Correct Predictions Worth €1 Million
  • Innovative, safe concepts with limited stakes
  • Responsible Gaming at the core of design

Tipico, Germany’s leading sports betting and online gaming provider, has introduced its latest innovation in sports betting: Tipico Million, a new entertaining product that offers an engaging way to place special bets – with the added thrill of a higher maximum payout, all at a fixed stake.

Seven Correct Predictions Worth €1 Million

Customers can place the bet with a fixed cost of €3 (€2.85 stake plus a €0.15 processing fee). The payout table is staggered – meaning players can win even with 1-correct prediction, and the top prize of €1 million is paid out for a perfect 7/7 (7-correct). Importantly, prizes are not shared among winners – each winner receives the full amount.

No Million, But Two Bets Came Close

Tolis Barmpageorgopoulos, Chief Product Officer at Tipico, commented: ’We know our customers love special bets and Tipico Million takes them to the next level – making them more exciting than ever with the added thrill of higher potential payout. We’re pleased with the strong early response and look forward to making the experience even better.’

The game runs continuously, with up to three rounds daily. Each round includes games from a 7-day rolling time frame. Several players have already achieved five or more correct predictions, two even came close to a perfect bet, with 6-correct game scores cashing out €25,000 each.

Responsible Gaming and Transparent Design

Since its launch on June 3rd, Tipico Million has seen strong engagement, positive customer feedback and minimal service queries. This is due to its intuitive design, transparent payout structure and clear rules. The product clearly communicates probabilities, odds, outcomes, and winning categories, helping customers make informed decisions, all at a limited stake. Tipico Million is now available on Tipico’s sports betting platform.

Tipico Publishes 2024 ESG Report

  • Tipico maintained its share of turnover from potentially problematic gambling behaviour below 1.5% of turnover, reinforcing its leadership in responsible gaming.
  • Tipico operates 100% in regulated markets.
  • Tipico employs people from 87 nations and delivered over 15,000 hours of training to support talent development and leadership excellence.
  • Tipico is on track for carbon neutrality by 2030.

St. Julian’s/Karlsruhe, July 28, 2025. Tipico, Germany’s leading sports betting and online gaming provider, has released its 2024 Environmental, Social, and Governance (ESG) Report. The report outlines Tipico’s measurable progress in responsible gaming, compliance, people development, and environmental sustainability.

Championing Responsible Gaming

At Tipico, running a successful gaming business means having a strong focus on player protection, because this is essential for long-term business sustainability. The KPI to measure the protection of vulnerable customers considers any turnover generated by customers who would later self-exclude or be excluded before they were identified and given the protection they require. In 2024, Tipico brought this value below 1.5% of turnover, and aims to stay consistently on this low level.

Tipico also launched its first national responsible gaming TV campaign, reaching over four million viewers across sports broadcasts and social media. Also, the company continued to invest in research, and treatment programs and to publish annual scientific evaluations of its player protection concept.

Investing in People

As a responsible employer, Tipico continues to invest in its more than 2,300 employees from 87 nations. The company supports the development of staff through clear career paths and robust learning initiatives. That’s why more than 15,000 training hours were delivered across the organization. Tipico focuses on fair compensation, transparent career paths, and targeted leadership development – with the goal of remaining an attractive employer in a competitive market.

On Track for Carbon Neutrality by 2030

Tipico is also making measurable progress in climate protection. Germany’s leading sports betting and online gaming provider continues advancing along its roadmap to eliminate Scope 1 and 2 CO₂e emissions by 2030. Last year Tipico managed to reduce Scope 2 CO₂e emissions by 41% compared to 2023, which brings the company another step closer to its long-term ambition toward carbon neutrality.

In 2024, for the first time, Tipico also measured waste generation and increased recycling rates in the offices in Malta, Karlsruhe, and Munich, with plans to expand this initiative to other offices and Tipico shops. This initiative was part of its preparation for ISO 14001 implementation and audit, for which the company received certification in 2025.

Axel Hefer, CEO of Tipico, commented: ‘This ESG report reflects our commitment to long-term value creation for all stakeholders, and it shows that growth and responsibility go hand in hand at Tipico. We are very proud of the progress we’ve made in 2024 – the year of the UEFA Euro.’

Christian Wurzinger, CFO of Tipico, added: ‘Our ESG strategy is about building a sustainable, forward-looking organization, that puts people first and sets consumer protection, integrity and our people at the core of all our operations. Our achievements in responsible gaming and the ongoing development of our teams are a strong testament to this commitment.’

Market Research on the FIFA Club World Cup: Younger Fans See Potential, Older Ones Are Skeptical

  • Representative survey conducted by Tipico Sports Data Center in collaboration with ONE8Y shows: 78% of football fans watched at least one match.
  • The highest interest is directed at international top teams, while formats and media presence remain weak
  • 50% of Gen Z want more significance for the tournament – but only 38% of those aged 55 and older.

Berlin, July 18, 2025. Even after the final whistle of the FIFA Club World Cup, discussions about its acceptance among the German public continue. While empty stands and lack of interest are often mentioned, the result of a current, representative survey by the Tipico Sports Data Center in collaboration with the sports business and research consultancy ONE8Y presents a different picture. Notably, there are clear differences between younger and older football fans in terms of their opinions and engagement with the tournament.

Methodology Note: A total of 2,536 people from Germany, aged between 16 and 69 years, were surveyed. Of this group (n=2536), 1,648 respondents indicated that they were “very” or “somewhat” interested in football. All questions and resulting conclusions are based on this group (“Top 2”). Generation Z was defined as individuals under 30 years old who expressed an interest in football, while the 55+ group refers to football enthusiasts aged 55 and older.

High Awareness of the Tournament, Gen Z Most Interested

The FIFA Club World Cup is widely known among football enthusiasts in Germany: 88% of respondents say they are familiar with the tournament. Over three-quarters of the respondents (78%) say they had watched at least one match of the tournament. This contradicts the assumption that hardly anyone in Germany is interested in the tournament. Among Generation Z (under 30), engagement was highest: about a quarter (24%) say they watched five or more matches.

https://www.datawrapper.de/_/TwT0D/?v=4, https://www.datawrapper.de/_/fhKjy/?v=4
(in German)

FIFA Club World Cup Overshadowed By Established Competitions

Despite the encouraging awareness for the organizer, only 13% of football enthusiasts rate their interest in the FIFA Club World Cup higher than in established competitions like the Bundesliga or the UEFA Champions League. On the contrary, more than half (57%) of the older demographic rates their interest in the tournament as “lower” or “non-existent,” while for Gen Z, this share is still 40%.

The perceived attractiveness of the tournament is also modest: Only 17% of football enthusiasts find the FIFA Club World Cup “very attractive,” and among the 55+ group, this figure drops to just 6%. Half of the 55+ fans consider the format “less attractive” or “not attractive at all.”

https://www.datawrapper.de/_/n80JS/?v=6

Top Clubs and International Diversity as Key Attractions

When asked about the most exciting aspects of the tournament, 47% of football enthusiasts cite the participation of international top clubs, with 56% of those aged 55 and older agreeing. For 40%, the continental comparison also plays an important role. Interestingly, the expanded tournament format resonates particularly with young football fans: One-third of Gen Z (33%) find the new format especially interesting. Rule innovations and experimental formats appeal to smaller target groups, with about 20% of Gen Z and 18% of the overall group rating this as exciting.

https://www.datawrapper.de/_/cUcra/?v=5

Generation Z Sees Potential and Wants a Bigger Role for the Tournament

As for the potential? The majority (51%) believes that the FIFA Club World Cup will play a larger role in international football in the future – with the younger generation (55%) even more optimistic than the 55+ group (43%).

https://www.datawrapper.de/_/UisOM/?v=5

Under-30s viewing the tournament more positively is also evident in the question of whether a more prominent role for the FIFA Club World Cup is desirable in the opinion of football fans: 50% of Gen Z support this idea. In the 55+ age group, only 38% agree, a significantly lower figure.

Media Behavior: Differences in Engagement and Platform Choice

The majority of football enthusiasts followed the tournament via live TV or streaming (67%). In Generation Z, this figure is 60%. This group also engages with alternative formats such as YouTube (13%) or social media (7%). The 55+ demographic, however, primarily relied on traditional TV broadcasts (78%), with digital formats playing a minor role.

https://www.datawrapper.de/_/PuRRK/?v=5

Suggested Improvement: Broadcast Times

To increase the appeal of the format, many fans suggested changes. Unsurprisingly, better broadcast times (37%) topped the wish list. A more exciting tournament structure (28%) and greater media presence (23%) followed closely behind. And while 29% of those over 55 didn’t provide suggestions as they generally stated they had no interest in the FIFA Club World Cup, only 9% of Gen Z selected this option. Thus, clear potential exists among younger fans, especially with future tournaments in a viewer-friendly time zone.

https://www.datawrapper.de/_/k2HGO/?v=5

About the Study

The market research was conducted in July 2025 on behalf of the Tipico Sport Data Center by ONE8Y. A total of 2,536 people from Germany participated in the survey. The survey was demographically representative according to census data on age, gender, and region. Of the respondents, 1,648 indicated they were “very” or “somewhat” interested in football. Only this group was used to analyze the FIFA Club World Cup-related questions.

Real Madrid Top Favorite for FIFA Club World Cup

    • Will Xabi Alonso win his first title with Real? Their probability of winning is 20 percent – ahead of Champions League winners Paris Saint-Germain.
    • FC Bayern München has the best chances for the tournament’s strongest offense.
    • Kylian Mbappé likely to be top scorer.

This weekend marks the debut of the FIFA Club World Cup in its new format, hosted for the first time in the United States. Starting this year, 32 teams from around the globe will compete in the tournament. The Tipico Sports Data Center forecast shows a clear picture: European powerhouses dominate the field – with Real Madrid, Paris Saint-Germain, Manchester City, and FC Bayern München at the top of the field.

Better Title Chances for Real Madrid than Champions League Winners PSG

Led by new head coach Xabi Alonso, Real Madrid enters the competition as the favorite, with a 20 percent chance of winning. According to the data models by the Tipico Sports Data Center, the Spanish record champions – who claimed five Club World Cup titles in the past eleven years – are ranked ahead of Paris, inspite of French team’s recent most highest final victory in Champions League history. Paris, however, is given “only” an 18 percent chance. The decisive factor: the historical triumphs that Real Madrid has had at club level.

Bayern with Realistic Title Chance – and Possibly the Most Goals in the Tournament

FC Bayern München ranks fourth with a 13 percent chance of winning the title, behind Manchester City (17 percent). While the Tipico Sports Data Center does not consider the München side a top favorite for the title, they lead in another category: with a 32 percent probability, the German record champions are expected to be the team that scores the most goals in the tournament. One key reason is the group stage setup: Bayern will face Auckland City FC in their opening match – the tournament’s ultimate underdog, with a less than 0.1 percent chance of winning the title. Real Madrid follows closely behind Bayern in this category, with a 31 percent chance of scoring the most goals.

Mbappé Favorite to be Top Scorer

The race for who will tally up the most goals is shaping up to be a tight contest among Europe’s elite strikers. Real Madrid superstar Kylian Mbappé enters the tournament as the favorite with an 18 percent chance of finishing as top scorer. He is followed by Manchester City’s Erling Haaland (15 percent) and Bayern München’s Harry Kane (14 percent). World champion Lionel Messi, who is making his Club World Cup debut with Inter Miami, is given just a five percent chance of scoring the most goals – placing him in a tie for eighth overall.

Europe Dominates the Field – Outsider Chances for Brazil

According to the Tipico Sports Data Center, the outlook is bleak for non-European teams: Flamengo Rio de Janeiro and SE Palmeiras São Paulo from Brazil are considered the strongest challengers from outside Europe, each with a seven percent chance of winning. Overall, the forecast is clear: with significant performance disparities expected in the group stage, the Club World Cup is likely to be decided among the European teams — with Xabi Alonso’s Real Madrid having the best chances of claiming their first title in 2025.

Tipico Becomes Partner of 3. Liga

  • Partnership agreement valid for three seasons
  • Now Tipico supports all professional football competitions in Germany
  • Deal provides financial boost to 3. Liga clubs

Tipico and the Deutscher Fußball-Bund (German Football Association) have announced an expansion of their strategic partnership. The leading German sports betting provider already partnered with the DFB Cup competitions for both women and men, will now also become an official partner of the 3. Liga (Third Division). The agreement comes into effect on July 1st at the start of the new season and runs for three years through the 2027/28 season.

Under the terms of the agreement, Tipico receives exclusive central advertising rights across the 3. Liga. This includes joint Tipico and league logo placement on the right sleeve of all 3. Liga team jerseys, brand visibility through stadium advertising boards during TV broadcasts, and various digital rights. The majority of the financial proceeds from this agreement will directly benefit the 20 3. Liga clubs, with payments distributed each season.

Kajetan Strini-Brown, Director of Marketing & Brand at Tipico, explains: “3. Liga is pure football: packed stadiums, passionate competition, hope and suspense – it’s a perfect match for Tipico! We are therefore extremely excited to work together to further strengthen the appeal and visibility of this special league. For us, the 3. Liga is the logical extension of our commitment to German football, as we are now partner of all professional competitions. We have been working with the Bundesliga and 2. Bundesliga for many years and have also partnered with the DFB for a year already.”

Dr. Holger Blask, Chairman of the Management Board of DFB GmbH & Co. KG, says: “This good news rounds off an outstanding year in the 3. Liga full of spectator records and underlines the popularity of the league. Tipico fits in as a strong and reliable partner. Together, we also want to continue our extensive efforts for responsible handling of sports betting within this framework. For many years, the DFB has shared the goals named in the State Treaty on Gambling, which only permits betting offers from state-licensed providers in accordance with legal requirements. In this context, the promotion of regulated offers and simultaneously the effective fight against the black market are of great importance to preserve the integrity of the game and protect the players.”

Tipico has provided innovative, user-friendly, and secure sports betting products, growing to become Germany’s most popular sports betting brand. Beyond continuous product development, Tipico pioneered modern player protection concepts 15 years ago and is officially registered on the whitelist of authorized German sports betting providers.

Tipico Proud to Achieve ISO 14001:2015 Environmental Certification

  • Tipico attained the ISO 14001:2015 certification, reinforcing its commitment to environmental sustainability.
  • The certification follows thorough internal and external audits.
  • Tipico aims to extend certification to its retail network.

Tipico, the leading sports betting and online gaming provider in Germany, has successfully attained the highly regarded ISO 14001:2015 certification for its Environmental Management System (EMS).

This significant achievement underscores Tipico’s commitment to environmental responsibility and sustainable business practices across its offices in Germany and Malta.

 

Why ISO 14001:2015 Matters

The ISO 14001 has been the global benchmark for effective environmental management systems since its introduction in 1996. It provides organisations with a framework to manage environmental responsibilities systematically, emphasising continuous improvement, regulatory compliance, and the achievement of measurable sustainability objectives. For Tipico, certification is both a recognition of existing efforts and a springboard for future progress: Beyond the environmental benefits, implementing ISO 14001:2015 drives greater resource efficiency, reduces waste, and delivers real cost savings, ensuring that sustainability and business success go hand in hand.

 

The Road to Certification and Beyond

Tipico’s path to certification involved a comprehensive assessment of its environmental impact and operational practices.

This was followed by the implementation of targeted policies and procedures to close identified gaps and ensure alignment with ISO 14001:2015. Through rigorous internal and external audits, Tipico successfully met the standard’s stringent requirements.

While the successful completion of these audits at Tipico’s German Technology offices in Karlsruhe and Munich as well as the headquarter in Malta represents a major milestone, it marks just the beginning. Tipico is already taking further steps towards sustainability, with plans to extend the certification to its network of retail shops across Germany. This ongoing commitment reinforces Tipico’s dedication to embedding sustainability in every aspect of its operations, both online and offline.

Tipico Launches ‘Trusted Partner’ Quality Initiative for Game Manufacturers

  • Initiative recognizes manufacturers that do not supply black market operators
  • Tipico supports companies certified as ‘Trusted Partner’
  • Initiative sets a strong signal for integrity, responsibility, and consumer protection

Tipico Games, Germany’s leading provider of virtual slot games, is proud to present its new quality initiative, ‘Trusted Partner.’ The aim of this initiative is to support game manufacturers who voluntarily commit to not supply anyone operating illegal gambling websites in Germany. Such black-market offerings bypass German regulatory requirements, provide no reliable player protection, and evade taxes owed in Germany.

 

Tipico Supports Companies Certified as ‘Trusted Partner’

Game manufacturers certified by Tipico as ‘Trusted Partner’ commit to making their products available in Germany exclusively to licensed and reliable operators. They also commit to promoting responsible gaming and stand for transparency. In return, Tipico commits to conducting all marketing activities – particularly TV presence, digital platforms, and CRM campaigns – exclusively with partners awarded through this quality initiative.

Christian Heins, Director of iGaming at Tipico says: ‘We are very pleased that several major games manufacturers have fulfilled the requirements as ‘Trusted Partner’ at the start of our quality initiative already. Combating illegal offerings is essential for the successful channelization into the legal and safe market, and we are convinced that this goal can only be achieved in the long term through a joint effort by all stakeholders.’

 

Initiative Sets a Strong Signal for Integrity, Responsibility, and Consumer Protection

The ‘Trusted Partner’ quality initiative raises consciousness for a strong regulated market, supports reputable providers, and promotes a safe environment for players. At the same time, it aims to push back illegal websites and black-market offerings. In the future, the plan is to open this quality initiative further to payment service providers and media partners as well.

Game manufacturers who are already part of the ‘Trusted Partner’ quality initiative at launch*: Apparat, Games Global, Greentube, Hölle Games, MERKUR, Play’n GO, SYNOT, ZEAL

*) in alphabetic sequence

Statement regarding ARD and Die ZEIT coverage on March 6, 2025

On March 6, 2025, ARD and Die ZEIT reported on online sports betting in Germany, mentioning a supposed “secret agreement” between sports betting providers and the federal states.

This claim is incorrect.

In fact, this agreement is a judicial settlement which was reached and recorded during a public hearing at the Darmstadt Administrative Court. Furthermore, the federal states have publicly disclosed the contents of this settlement in their interim report evaluating the State Treaty on Gambling. This report has been publicly accessible since June 2024 on the websites of the Conference of Interior Ministers and several state parliaments.

Additionally, a TV segment aired on March 6, 2025, as part of ARD’s “Monitor” program covering online gambling in Germany claimed that a student with limited financial resources was able to increase his deposit limit at Tipico within “just two seconds.” The segment implies that this procedure violated regulatory requirements. The impression was further intensified by stating that Tipico “declined to comment” when asked why this limit increase was granted.

This claim is incorrect.

Below is the original question (translated from German to English) by ARD Monitor and Tipico’s timely response:

ARD Monitor: In a test scenario, we asked a student with a low monthly income to increase his limit at Tipico. Within a few minutes, he received approval from your company for a monthly limit increase to 10,000 euros, even though this was clearly beyond his financial capabilities. Please provide a statement regarding this matter.

Tipico: We would be happy to investigate this case thoroughly. If you provide us with the relevant details, we can comment on why this limit increase was approved.

We received no further response with details from the editor.

In practice, all requested limit increases are reviewed according to the ancillary conditions stipulated in our license, with various verification methods available. The Schufa-G inquiry described in this report is one such method.

The Joint Gambling Authority of the Federal States (Gemeinsame Glücksspielbehörde der Länder, GGL) has published detailed information regarding the Schufa-G inquiry: GGL statement (in German)