We will be only basing the profits on the online portal hence offline shops are excluded in this estimates.
Since Odibets is an online company so doing the estimation was not that hard due to the fact that knowing the sites traffic info was an easy guide on knowing the number of transactions the company makes per day
Using similarWeb traffic analysis tool, odibets.com is among the Top 50 most visited site in Kenya (check out it here) and it’s number 21 after Betpawa, Sportpesa, and Betin Kenya
Odibets.com received last month 4.42M website visitors which was a 32.94% increase compared to the previous month.
Odibets is really taking the market share from someone who is sleeping on the job
Odibets monthly visitors are very engaged and they spend the longest time possible on the site at 14 minutes and view 18.76 pages per visit compared to industry average of 10
Each visitor viewed an average of 18.76 pages per session bringing to 82.9192 Million monthly page views.
This is a big milestone as they are only 3 months old in the market!
The site receives an average of 147,333 visitors daily from 4.42 million monthly visitors
Let’s assume that 80% of individuals who visit the site make a bet. ( I have chosen 80% since betting sites have high conversion rates due to their nature of being addictive)
Thus n.o people who will bet= 80% of 147,333= 117,866 Kenyans per day
Let’s also make an assumption that each individual makes only one bet of 100/= ( Am aware that others make bets of more than 10,000/= but am just estimating the profits on the lower limit.)
Total amount it makes per day= 117,866 *100= 11.786 million
Let’s make an assumption of a 57%-60% profit margin after payouts, Opex & taxes, this brings to 5.8 Million daily in net income
Thus if I could quote the estimate profitability range of the company I would say 6-7 million per day.
Monthly averages would range from between 150 Million- 200 million
This is just estimates delivered from traffic to their online websites, margins can differ depending on operational costs and other overheads
Congratulations to Odibets team, they are growing at a very healthy rate! Good job and happy 2019