iGaming market intelligence: this week’s lead signal, the EVA rankings, and the benchmarking heatmap

Why is private capital buying the thing you book as overhead? This week’s lead signal
© 2026 · brandcapitalworks.com
iGaming Market Intelligence

The week's read, scored by the model

EVA Score, a weighted composite scored per board: suppliers on 7 dimensions, operators on 6. Re-scored weekly from verified filings 🟢 and market proxies 🟡.
Global iGaming Market
$120B
↑ 11% y/y
US iGaming Q1 2026
$3.04B
↑ 20.7% y/y
Sports Betting Share
51%
↓ 1.0pp q/q
Companies Tracked
81
↑ 4 added this week
Re-scores This Week
81
28 high-momentum
Avg Regulatory Climate
53
↓ tightening bias · 8 mkts
UK Remote Gaming Duty
40%
↑ from 21% · Apr 2026
Markets Tightening
4 / 8
UK · NL · BR · DE
Brazil, Election Year
Oct 2026
GGR 13% → 15% by ’28
Most Favourable Market
Ontario
climate 78 · 91.1% channelized

Momentum Quadrant, EVA Score × Weekly Delta

Each point = one tracked company · position above the line means the model re-rated it upward this week
Leaders compounding Risers Drifting Eroding

Where Operators Leak Enterprise Value

Composite of diagnostic runs · indexed, illustrative methodology note applies
✓ What this means, and what to do about it Momentum is concentrating: the top-right quadrant gained share of total score movement for the fourth straight week. The gap between compounding brands and drifting ones is widening weekly, and pricing power widens with it.
For suppliersContent quality alone no longer re-rates you. Build the brand layer: a named studio identity, exclusive-content positioning, and a visible roadmap. Brands without it are being priced into the commodity distribution tier.
For operatorsEvery quarter of leader concentration raises your acquisition cost. Shift weight toward retention and database value, growing customer equity is the cheapest brand-capital lever available in this market right now.
The EVA Rankings

Suppliers and operators, re-ranked weekly

81 COMPANIES TRACKED · CLICK ANY ROW FOR THE FULL READ

B2B Suppliers, Top 10

#CompanyEVA ScoreΔ WeekSignal+
Sources: SEC EDGAR 🟢 · UKGC/MGA registers 🟢 · app-store & traffic proxies 🟡 · re-scored weekly See the full dimension heatmap →
✓ What this means, and what to do about it Two of this week's top five movers are mid-cap suppliers with founder-led commercial functions, the exact profile where a structured brand-and-customer-value program moves the score, and the multiple, fastest.
For suppliersA rising EVA Score travels into commercial reality: platform negotiations, exclusivity premiums, talent. The fastest movers fixed positioning and differentiation before scaling spend, sequence matters more than budget.
For operatorsRead the ranking as a portfolio signal. Consolidating around compounding suppliers reduces content churn, strengthens differentiation in regulated markets, and protects the player experience your brand is priced on.

B2C Operators, Top 10

#CompanyEVA ScoreΔ WeekSignal+
Sources: SEC EDGAR & LSE filings 🟢 · state regulators 🟢 · app ratings & traffic proxies 🟡 · re-scored weekly See the full dimension heatmap →
✓ What this means, and what to do about it The operator board splits on one variable: retention economics. The brands holding rank without promo escalation all run customer equity as an engineered asset; the sliders are buying back the same players every quarter.
For operatorsIf your CAC is rising while CLV is flat, the leak is structural. Database value, lifecycle design and brand preference decide who can afford the next acquisition war, budget weight follows from that.
For suppliersOperator consolidation around retention leaders changes who your real buyer is. Position content and tools around player lifetime value, and you sell into the budget that is growing.
Benchmarking

Multi-dimension benchmarking heatmap

Reading it: darker navy = stronger dimension score. Each cell is re-scored weekly with the EVA model; the heatmap shows where strength clusters, and where the gaps that price brand capital sit.

B2B Suppliers, Dimension Heatmap

B2C Operators, Dimension Heatmap