Super Group Grows UK Revenue 13% for Q3 Following Tax Increase

Betway owner Super Group has continued to grow its UK revenue in Q3, following increased taxation, with CEO Neal Menashe claiming the operator is “under-indexed” in the market.

Menashe was speaking on an earnings call following the publishing of Super Group’s Q3 results. The operator mentioned strong online casino growth in the UK, where its revenue went up 13% year-on-year; Super Group did not reveal specific UK numbers. Overall, total revenue was $611 million (£454 million), up 10%, and adjusted EBITDA increased 8% to $165 million.

A changing market

The increase in the UK has been achieved amid remote gaming duty, paid on online casino bets, being raised from 21% of gross gambling yield (GGY) to 40% in April. In Q2, the first full quarter in which the new RGD rate was in place, Super Group grew its UK revenue 34% year-on-year, albeit this could have been aided by the men’s FIFA World Cup.

However, Betway is yet to encounter the challenge of a rise in general betting duty (GBD), paid on online sports bets. From April 2027, GBD will go up from 15% of GGY to 25%; bets on horseracing will be exempt from the increase. With Betway being predominantly associated with sports betting, this will be a stronger test for the group to deal with.

“Still good for us”

There will also be an increase in machine games duty (MGD) next April, which will go up from 20% of net takings to 25%, as announced by Chancellor John Healey in the Autumn Budget. When asked how durable share gains in the UK will be throughout the course of 2027, Menashe mentioned how the increase in MGD could in fact benefit Super Group.

Menashe said:

“[The] UK is still good for us. I still think we’re still under-indexed there. They’re now increasing rates in the shops as well as the slot machines for our competitors. I think everyone’s reeling into how they can make this market work. We’ve combined our businesses there, so we’re really seeing this operating efficiency.

“A lot of our sponsorships comes from the English Premier League. We’re really visible there. For us, we have navigated that really, really well. We’ve got a disciplined marketing team and obviously a leaner cost base. All of that makes us able to take those extra taxes into account.”

No prediction markets for now

Menashe also distanced the company from the idea of launching a prediction markets product. In the UK, competition in the prediction markets space could be set to increase in the coming months. At a capital markets event last month, financial services company IG Group said it expects to launch its prediction markets product in the UK in the fourth quarter of this year.

Earlier in October, Simon Walls, Executive Director at the Financial Conduct Authority (FCA), confirmed US prediction market operators Kalshi and Polymarket have held talks with the FCA about the prospect of launching in the UK. However, according to Menashe, having exited the US, where prediction markets have proven to be very popular, prediction markets are not part of Super Group’s focus.

Menashe said:

“The truth is, we do not have a predictions product. We are focused purely on our sportsbook and our online casinos, which is what we built over the last year. That is where we are able to compete head-on with all of our competitors.”