FSB Technology
Fully managed sports betting service.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
* | N/A | Acquisition | |
| Total Funding | 000k | ||
| GBP | 2021 | 2022 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 12 % |
| EBITDA | 0000 | 0000 |
| % EBITDA margin | (91 %) | (217 %) |
| Profit | 0000 | 0000 |
| % profit margin | (92 %) | (218 %) |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Company filings or news article
FSB Technology, established in 2007, operates as a business-to-business supplier of sports betting and iGaming software solutions. The company was founded in London, United Kingdom, by David McDowell and Sam Lawrence, who drew on their prior six years of collaboration in the online gaming industry to inform their new venture. They anticipated that evolving gaming regulations, the rise of live betting, and increased smartphone use would reshape the sector. Before co-founding FSB, Lawrence was the first employee and CTO at GAN Plc, a supplier of casino games, while McDowell had co-founded GAN at the start of the millennium.
The firm provides a fully managed, turnkey service for online and retail sports betting operators. Its business model is centered on a proprietary tech stack that includes a sportsbook, casino platform, retail solutions, and a Player Account Management (PAM) system, all managed through a single back-office platform. This allows clients, such as Dafabet, QuinnBet, and Fitzdares, to outsource their entire operational needs. Revenue is generated by providing these white-label services to betting platforms. In July 2024, FSB was acquired by EveryMatrix in an all-cash deal, a move intended to bolster EveryMatrix's OddsMatrix sportsbook platform and expand its footprint in the UK, Ireland, and Africa.
FSB's core offering is an end-to-end platform that covers data and pricing feeds, a proprietary sports betting software, and a managed trading service. It handles the entire sports betting operation, from processing live data from sporting events to managing liabilities. The platform is known for its strong horse racing product and provides access to over 500 games from various suppliers. The system is designed to manage betting markets across numerous sports and tens of thousands of live events each year. A key achievement for the company was winning the 2022 EGR Multi-Channel Supplier of the Year award.
Keywords: sports betting software, iGaming platform, Player Account Management, turnkey betting solutions, B2B gaming supplier, retail sportsbook, casino platform, EveryMatrix acquisition, David McDowell, Sam Lawrence