The sports betting media company attributed the decline to the halt of major sports events from mid-March as a result of the COVID-19 pandemic.

EBITA for Q2 also fell 7% to €6.3m, while cash flow from operations actually increased by 57% to €10.4m.

The number of new depositing customers fell by 36% to 71,000 for the period.

Positive revenue growth returned in June with the return of sports - the month saw a 20% increase in revenue to €6.1m.

For the first half of 2020, Better Collective’s revenue grew by 18% to €36.2m, while EBITA also increased by 12% to €14.9m.

According to the affiliate, financial targets for the year remain unchanged despite the effects of the pandemic on revenue. The company expects full year revenue growth of 15-25% for 2020.

For 2021, Better Collective expects to capitalise on the normal sports schedule in addition to a postponed European Football Championships.

Jesper Søgaard, CEO of Better Collective, said: “We have demonstrated the flexibility to withstand a period of low sports activity.

“I am very proud that we could maintain our financial earning target both for Q2 isolated and the full half year.”