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SharpLink Gaming Announces Third Quarter 2024 Financial Results
SharpLink Gaming, Inc. (Nasdaq: SBET) (“SharpLink” or the “Company”), an online performance-based marketing company serving the U.S. sports betting and iGaming industries, today announced its financial results for the three and nine months ended September 30, 2024.
Financial Highlights
- Revenues decreased 27.7% to $2,838,908 for the first nine months of 2024, compared to $3,925,618 for the same nine-month period in 2023. For the three months ended September 30, 2024 and 2023, revenues declined 34.7% to $881,690 compared to $1,349,331, respectively.
- Total operating expenses declined 25.9% to $4,426,835 from $5,977,327 for the nine months ended September 30, 2024 and 2023, respectively; and total operating expenses dropped 46.0% to $970,080 from $1,795,057 for the three months ended September 30, 2024 and 2023, respectively.
- For the nine months ended September 30, 2024, net income climbed to $11,002,266 after factoring net income from discontinued operations of $14,567,733 – up 673.3% from a net loss of $9,114,443 inclusive of the net loss from discontinued operations of $2,523,754 posted for the comparable nine months in the prior year. After factoring a net loss from discontinued operations of $97,139, the net loss for the three months ended September 30, 2024 decreased 68.9% to $885,131 when compared to a net loss of $2,849,547 for the same three months ended September 30, 2023 after factoring a net loss from discontinued operations of $822,100.
- As of September 30, 2024, cash on hand was $1,850,206 and total stockholders’ equity was $2,020,143. This compared to $2,487,481 cash on hand and total stockholders’ deficit of $9,399,769 as of December 31, 2023.
Commenting on the results, SharpLink Chairman and CEO Rob Phythian said, “The notable decline in operating expenses reflects SharpLink’s continued focus on streamlining our affiliate marketing business; and the significant improvement in our bottom line results is largely a result of our $22.5 million cash sale of our SportsHub fantasy sports and sports game development businesses to RSports Interactive, Inc. earlier this year. Since that time, we have succeeded at scouring our balance sheet, eliminating virtually all of our debt, and have turned our attention to identifying, qualifying and pursuing compelling strategic growth opportunities that we believe can best be leveraged to create and enhance long-term sustainable value for our shareholders. As we progress through to the end of the year, we look forward to sharing much greater insight into our future plans for SharpLink resulting from the collective due diligence efforts of our leadership team and our highly engaged Board of Directors.”
For more detailed information about SharpLink’s Third Quarter 2024 financial results, please refer to the Company’s Quarterly Report on Form 10-Q filed yesterday with the U.S. Securities and Exchange Commission and accessible online at sec.gov or via SharpLink’s investor relations page at investors.sharplink.com/
About SharpLink Gaming, Inc.
Headquartered in Minneapolis, Minnesota, SharpLink is a trusted marketing partner to leading sportsbooks and online casino gaming operators worldwide. Through its iGaming affiliate marketing network, known as PAS.net, SharpLink focuses on driving qualified traffic and player acquisitions, retention and conversions to U.S. regulated and global iGaming operator partners worldwide. In fact, PAS.net won industry recognition as the European online gambling industry’s Top Affiliate Website and Top Affiliate Program for four consecutive years by both igamingbusiness.com and igamingaffiliate.com. SharpLink also owns and operates a portfolio of direct-to-player, state-specific, affiliate marketing websites designed to attract, acquire and drive local sports betting and online casino gaming traffic to its valued partners which are licensed to operate in each respective state. For more information, please visit sharplink.com.
Forward-Looking Statements
This release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business through strategic growth opportunities, the potential benefits of the Company’s products, services and technologies and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, government regulation of online betting, customer acceptance of new products and services, the demand for its products and its customers’ economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company and its competitors, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the SEC. The Company does not undertake any responsibility to update the forward-looking statements in this release.
CONTACT INFORMATION:
INVESTOR AND MEDIA RELATIONS
[email protected]
The post SharpLink Gaming Announces Third Quarter 2024 Financial Results appeared first on European Gaming Industry News.

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Soft2Bet releases TopBet.ro in Romania with a motorsport‑inspired identity tailored to local fans
Reading Time: 2 minutes
Soft2Bet has launched TopBet.ro, a new Romanian sportsbook designed to cater to local habits and preferences. Built with a clear focus on motorsport and match-day culture, the brand combines competitive odds and fast mobile journeys with an auto-themed identity that resonates with local fans.
From launch, TopBet.ro has been tuned to the way Romanians follow sport. Football and motorsport are front and centre, with timely markets, match-day boosts and content that reflects supporters’ weekly rituals. Romania’s proximity to major European circuits and easy short-haul travel make it a natural home for motorsport fans, and TopBet.ro responds with creative campaigns, themed missions and seasonal offers built around grand prix weekends. The same care is evident throughout the interface: clear navigation, quick bet placement, and a clean, mobile-first design.
Yoel Zuckerberg, Chief Product Officer at Soft2Bet, said: “With TopBet.ro, we set out to create a brand that feels Romanian from the first tap, then added MEGA missions and challenges that turn derby days and grand prix weekends into journeys people return to. What we prove on our own brands becomes the toolkit we offer partners, combining culturally tuned products with measurable engagement and the ability to scale with minimal integration effort.”
Brand representative from TopBet.ro commented: “TopBet.ro is designed for Romanian fans who want more from every match. Together with Soft2Bet, we built a platform that connects sport, competition, and rewards in a way that feels natural and exciting. Our goal is to give every player the chance to experience the game like a champion.”
Alongside sports, TopBet.ro offers a comprehensive casino lobby for quick breaks or a change of pace, featuring popular slots, live dealer tables, and sports-themed titles, all delivered in a mobile-first format with clear navigation and quick load times. The experience is powered by Soft2Bet’s performance-first platform, which delivers speed, stability, and smooth gameplay, along with responsible play tools tailored to local requirements. A key part of this is MEGA (Motivational Engineering Gaming Application), the engagement engine that turns play into progress through missions, challenges and quests that unlock rewards and keep sessions fresh.
The approach has already proved successful in Romania, where seasonal quests and local events are firm favourites among players. By turning everyday actions into clear milestones and rewards, MEGA lifts session depth and repeat visits, helping first-time players become long-term customers.
The post Soft2Bet releases TopBet.ro in Romania with a motorsport‑inspired identity tailored to local fans appeared first on European Gaming Industry News.
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ELA Games Casts Its Latest Spell with Witches’ Book
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ELA Games beckons players to step into a shadowy realm of sorcery and mystery with its newest release: Witches’ Book
Bathe in the magic as a powerful coven of three witches conjures their spells across the reels, revealing mysterious rewards and surprises. Each spin is a step toward ultimate strength, where massive riches and bubbling magic await.
The Power of the Book
In the Witches’ Book, magic shimmers in every spin. Players aim to collect enchanted pages and experience the power of each witch’s most mythical spells.
Once players gather enough enchanted pages, they complete the spellbook and choose their witch and symbol to unlock the magical Free Spins. As the witches’ power grows, every symbol has the chance to transform into a Jackpot, turning ordinary spins into powerful, enriching moments.
A medium volatility level and 94.9% RTP ensure that wins are frequent even on the base game. Additionally, multiple surprise features can arise and spread across the 5×3 reel format, making each spin a potion of excitement.
ELA Games’ Magical Touch
Witches’ Book is an enchanting embodiment of ELA Games’ philosophy regarding creative innovation and a focus on engaging gaming experiences. The games’ animations, sound design, and dynamic mechanics blend to create an atmospheric game that will have players a part of the incantation.
Marharyta Yerina, ELA Games’ Managing Director, commented on the release, “With Witches’ Book, our goal was to create a title that emphasises the visually-rich aesthetics that embody the atmosphere of the brooding festive season. Every feature and design element was meticulously crafted to keep players engaged and deliver value for our partners. Witches’ Book is an example of our development approach: leverage creativity to entertain players while driving meaningful performance results for operators.”
Discover Enchanting Riches Now
Players can dive into the mysterious world of magic and spells today, with powerful gameplay and immersive experiences.
Finish your incantation and cast a powerful, lucrative spell today.
The post ELA Games Casts Its Latest Spell with Witches’ Book appeared first on European Gaming Industry News.
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GR8 Tech’s Bet It Drives Hits the Portuguese Fast Lane with Tiago Pereira of LeBull.pt
Reading Time: 2 minutes
Lisbon’s streets set the pace for Season 2 of GR8 Tech’s Bet It Drives — the drive-time podcast where iGaming’s most interesting voices speak freely, in motion. Hosted by Yevhen Krazhan, Chief Sales Officer at GR8 Tech, each episode captures raw insight, candid stories, and the kind of energy you can only find on the road.
Episode 2 puts the spotlight on Tiago Pereira, Head of Portugal at LeBull.pt, the executive who helped turn a logo and a bull into one of the fastest-growing brands in Portugal’s regulated iGaming market. With more than 20 years in sports betting, affiliates, and casino operations at Placard.pt, Betano.pt, bet.pt, and Sportingbet, Tiago has led market entries, compliance frameworks, sponsorships, and full-funnel digital growth.
During the ride, Tiago opens up about:
- How he found his path and his journey from architecture and computer science to marketing.
- The history of LeBull.
- Portugal vs. Brazil: same language, different mindset: why copy-paste doesn’t work and true localization is key.
- The idea behind the LeBull Night Show, a weekly late-night comedy event.
- His failed marketing project.
- Trusting younger generations.
- His previous approach to marketing when he joined Betano in 2017.
- Why the Portuguese sports betting market relies on the casino vertical.
- The next chapter for affiliation.
- Network or Not Work: mascots, localization, and keeping support teams local.
- A small personal detail that’s still quietly visible online for those who know where to look.
- His Champion Rule: move forward with an “I need to get this done” mindset. Whatever happens, don’t stop. Stay consistent, keep moving forward, and the results will follow.
“Tiago showed us how to win a new market with discipline, curiosity, and the courage to keep moving forward,” said Krazhan.
Watch or listen to Season 2, Episode 2 with Tiago Pereira on:
Bet It Drives Season 2 kicked off with Rasmus Sojmark and keeps the pace with upcoming episodes featuring Kyrylo Korobka and Kelly Kehn. Buckle up. Lisbon’s just getting started.
The next chapter of iGaming belongs to those who play smart and play bold. Meet GR8 Tech at booth 5028-2 during SiGMA Central Europe 2025 in Rome, November 3–6, and discover the Heavyweight Rulebook built for operators ready to scale, localize, and win.
The post GR8 Tech’s Bet It Drives Hits the Portuguese Fast Lane with Tiago Pereira of LeBull.pt appeared first on European Gaming Industry News.
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