Kambi’s First Fully AI-Traded World Cup Drives 13.5% Q2 Revenue Growth to €45.9 Million With 57% Americas Turnover

Key Takeaways

• 13.5 percent Q2 revenue growth: Kambi posted €45.9 million in Q2 revenue up from €40.5 million with Adjusted EBITA more than doubling to €7.6 million for a 16.5 percent margin.
• AI milestone delivers results: The first FIFA World Cup fully traded by AI produced over €1 billion in Turnkey Sportsbook turnover and an estimated 18 percent operator trading margin.
• Americas surge to 57 percent: Kambi’s Americas partners generated 57 percent of global network turnover compared to 38 percent in the 2022 World Cup.
• Guidance raised: Full-year Adjusted EBITA outlook lifted to €23 million to €27 million while Bettormetrics ranked Kambi a leader in live betting KPIs.

Kambi reported a 13.5 percent year-on-year Q2 revenue increase to €45.9 million and more than doubled Adjusted EBITA to €7.6 million. The performance came as the company completed its first fully AI-traded FIFA World Cup. Share price on the Stockholm Nasdaq jumped around 10.5 percent to SEK179.5 in early trading.

The H1 figures show revenue of €89.4 million up 9.1 percent with Adjusted EBITA at €13.3 million up 83 percent. These numbers arrive at a moment when the 2026 World Cup shattered US sportsbook records yet prediction markets seized material share.

World Cup Turnover and Margin Delivery

Kambi processed more than €1 billion in Turnkey Sportsbook turnover during the tournament with an estimated operator trading margin of some 18 percent. The event featured 78 matches in Q2. Kambi CEO Werner Becher noted the Americas partner base helped support turnover despite some less favourable European kick-off times.

Becher stated: “The quarter was shaped by the FIFA World Cup, where Kambi delivered a leading product throughout the tournament, with 78 matches taking place in Q2.” He added that Americas partners generated 57 percent of global network turnover compared to 38 percent of the turnover of the 2022 FIFA World Cup.

This geographic shift matters. The expanded 48-team format across Mexico, the US and Canada created more betting opportunities than the prior 64-match tournaments. According to Casino.org News the tournament exceeded even optimistic projections with live betting exploding thanks to favourable North American kickoff times.

US Sportsbooks Set Multiple Records

DraftKings director of race and sports operations Johnny Avello told Casino.org the handle was way over expectations and could exceed March Madness. Caesars Sportsbook head of soccer Mark Bickerdike said the final delivered the biggest soccer betting event in company history with handle nearly 65 percent higher than the previous record game.

BetMGM senior trading manager Christian Cipollini reported the Spain-Argentina final was the most bet soccer match in company history on both tickets and handle. It surpassed tickets written across multiple major US sports finals and playoffs. Hard Rock Bet senior vice president Neil Walsh said ahead of the final that the tournament equated to ten Super Bowls.

These operator results confirm the 2026 World Cup as the biggest soccer betting event ever in the United States. The data sits alongside Kambi’s B2B performance.

Prediction Markets Capture 27 Percent Share

NEXT.io reported that prediction markets seized 27 percent of World Cup share from sportsbooks. Yahoo Finance reported Kalshi took $40 billion in World Cup bets and maintains it owes no sports-betting tax.

The contrast is sharp. Traditional sportsbooks posted record handles under regulated tax structures. Prediction platforms captured volume with different cost bases. Kambi’s 18 percent estimated trading margin on its network volume therefore reflects both product strength and the competitive pressure from alternative structures.

From the supplier side this split highlights why global network depth and cost-efficient trading technology have become table stakes. The Americas contribution rising from 38 percent to 57 percent shows how geographic diversification offsets regional timing disadvantages.

Bettormetrics Validation and AI-First Transition

Becher stated: “Our performance was also validated externally, with third-party benchmarking from Bettormetrics showing Kambi as a leader across live betting KPIs, including high market availability.” He described the AI-traded tournament as an important milestone in the evolution of cutting-edge sportsbook technology.

The company raised full-year Adjusted EBITA guidance to €23 million to €27 million from the prior €20 million to €25 million range. H1 Adjusted EBITA margin improved to 14.8 percent from 8.8 percent. Q2 margin reached 16.5 percent from 9.3 percent.

Becher affirmed: “Q2 marked another strong period of progress for Kambi, both in terms of financial delivery and in demonstrating the ongoing momentum we are building as a business.” He added that the first half of 2026 demonstrated the company has turned a corner and returned to growth driven by product development, commercial progress and the transition to an AI-first organisation.

What Combined Coverage Underemphasizes

The iGaming Future, NEXT.io, Casino.org News and Yahoo Finance reporting captures the financial upside, record handles and market share split. What remains underemphasized is the operational translation for B2B providers. Kambi’s ability to deliver 18 percent estimated margins on over €1 billion turnover while fully AI-trading 78 World Cup matches signals that AI-native workflows can compress costs without sacrificing Bettormetrics-ranked live betting availability.

This matters for operators selecting technology partners. The prediction market share gain and Kalshi’s $40 billion volume show alternative models can attract liquidity. Suppliers that convert AI trading from pilot to default infrastructure position themselves to protect or expand partner margins in a fragmenting market. The coverage notes the AI milestone but does not drill into the workflow changes that let Kambi sustain 16.5 percent Q2 margins amid that competition.

Signals for B2B Tech Partners

The numbers point to a clear operational shift. Kambi’s raised guidance, margin expansion and AI-traded delivery set a benchmark for what B2B platforms must demonstrate in future global events. Operators and regulators should track whether AI-first trading consistently protects trading margins when prediction markets siphon 27 percent share.

For suppliers the lesson is execution speed on AI integration. Those who scale it across live betting availability and global network optimisation will gain wallet share. The 2026 World Cup proved the technology works at volume. The next test is whether that advantage compounds or whether prediction platforms force further compression on the traditional B2B model. The data says the corner has been turned. Sustaining the momentum requires translating AI gains into measurable partner value quarter after quarter.