Redeye initiates coverage of the affiliate company Better Collective. Better Collective is the No. 1 sports betting affiliate in the world and has a clear competitive advantage. It has limited exposure to the casino sector’s challenges and is positioned for sports betting’s stronger outlook, including large potential markets outside Europe. The group only operates on regulated and taxed markets, lowering the regulatory risks. We forecast further strong growth and margins will expand with the company´s scalability.