Fractional CFO for online betting companies
Online betting operates inside a regulatory perimeter that touches almost every P&L line. GGR compresses to NGR through bonuses and free bets, gaming duties differ by jurisdiction, and player liability balances, jackpot provisions, processor reserves and chargeback exposure all sit on the balance sheet - once per licensed market for multi-jurisdiction operators.
The finance function has to satisfy regulators as much as investors: GGR-to-NGR bridges reconciled to the gaming ledger, duty calculations tied to each market's rules, bonus liabilities recognised on the right cohort, and player wallet reconciliations that hold up under audit. Marketing compliance constrains the cohort economics that follow.
Flow provides financial modelling, FP&A and fractional CFO advisory to online betting companies across sportsbooks, online casino operators, B2B platform and content providers, affiliate and media businesses and fantasy and prediction products. Our startup CFO team handles the regulatory-aware financial modelling and FP&A this sector demands.
KPIs to track for "online betting" startups
We're very 'KPI-driven' fractional CFOs, and we make sure to monitor the right metrics for your startup.
Active players
Gross gaming revenue
Net gaming revenue
Bonus & free bet cost
Hold percentage
Average revenue per player
Cost per acquisition
Player LTV
Cohort retention
Deposit-to-stake ratio
Payment processing cost
Revenue by jurisdiction
Financial modelling for "online betting" startups
As fractional CFOs, we build KPI-driven financial models that are insightful and easy to maintain.
Financial modelling is both art and science - models must be robust, but also understandable, and useful for both internal planning and VC fundraising purposes. Hire a fractional CFO who knows how to handle both sides of the equation.
GGR-to-NGR bridge
Stakes, hold, bonuses, free bets and jackpot contributions stepped down to net gaming revenue per jurisdiction with the duty rate applied per market. Replaces a single blended NGR margin with the number regulators and auditors will tie out to.
Player cohort LTV
First-deposit cohorts tracked through hold, bonus cost, retention and reactivation to a net contribution LTV after duty and processing. Tells you which acquisition channels and markets actually fund themselves rather than burning bonus.
Bonus and free-bet liability
Outstanding bonus balances, wagering requirements and expected redemption modelled by cohort and product. Stops marketing-led promotions hiding margin damage that lands two reporting periods later.
Jurisdictional P&L
Revenue, duty, bonus mix, hold and contribution margin modelled per licensed market rather than rolled to a group line. Shows which markets justify their compliance and tech cost and which are subsidising the licence portfolio.
Player wallet and liability
Player balances, processor reserves, chargeback exposure and jackpot provisions reconciled monthly with rollforward of the balance sheet position. Makes the cash that looks free actually available - or not - for operating use.
CPA payback and affiliate economics
Affiliate revenue-share and CPA terms mapped against cohort NGR after bonus and duty, not gross stake. Surfaces which deals are accretive and which are buying volume the operator never recovers.
Founders and investors we've worked with
We've supported winning builders across online betting and beyond.
TBô
We acted as fractional CFO to TBô, a Zurich-based tech-enabled DTC male underwear brand, building a bottom-up financial / operating model with cohort-level KPIs and positioning the company for its next venture round.
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Onlogist
We acted as fractional CFO to Onlogist, a Hamburg-based online marketplace for last-mile vehicle transfer, providing confidential valuation guidance and operating model support.
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Marcura
We acted as fractional CFO to Dubai-based Marcura, owner of maritime payroll and B2B payments platform MarTrust, advising on the strategic e-Wallet vendor selection and supporting product/finance integration.
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Hector
We acted as fractional CFO to Hector Aurumi, a Dubai-based specialist software house with AI/ML, IoT and data science expertise, providing confidential valuation guidance to the management team.
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Bonart
We've worked as fractional CFO with Bonart, a Zurich-based independent Swiss strategic advisory and execution platform for PE and investor fundraising, providing long-term confidential valuation guidance.
See moreRecent fractional CFO track record
See our fractional CFO and financial modelling experience across online betting and beyond.
Simple pricing
No hidden costs, no complicated long-term contracts. We understand how important flexibility is for online betting startups.
Per month
- Accounting / FP&A tech stack implementation
- Monthly financial statements and reporting pack
- Quarterly board pack with detailed financial analysis (with variance analysis vs. budget, relevant KPI observations etc.)
- Investor-friendly output
Per month
- Everything in Core, plus
- Operating model (via an online platform like Runway or Excel-based)
- Ongoing model maintenance, refining projections, burn/runway management
- Customer cohorts modelling, churn and retention analysis
- LTV / CAC, unit economics analysis
- Cap table management
Per month
- Everything in Grow, plus
- M&A / fundraising support; review of business plan
- Pitch deck preparation
- Investor approach strategy / list building
- Due diligence support and deal negotiation
- Valuation as required and free access to Multiples Pro
Packages shown are illustrative, final pricing is tailored to client requirements.
Explore our fractional CFO offering for similar verticals
We're a specialized fractional CFO to consumer internet companies.
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We know tech inside & out.
We provide fractional CFO services to companies operating across the entire tech.
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We help you scale by providing fractional CFO advice, through fundraising and a successful M&A exit.
VC fundraising for online betting companies
We help you prepare materials, reach out to investors in our extensive network, negotiate fair term sheets and structure the VC round.
Learn moreM&A for online betting companies
We advise winning tech companies on M&A exits, and over the years successfully executed numerous transactions with both financial and strategic buyers.
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