H2 Gambling Capital
- Founded
- 2008-01-01 in London, United Kingdom
- Headquarters
- London, United Kingdom
H2 Gambling Capital is a London-based betting and gaming consultancy that provides market intelligence, data analytics, and advisory services to the global gambling industry. Its data covers onshore and offshore gambling revenue across more than 150 markets, making it a widely referenced source for industry sizing and forecasting.
Detailed Review
History & Founding
H2 Gambling Capital was founded in 2008 in London, United Kingdom. The consultancy was established to fill a gap in reliable, independent market data for the gambling sector, initially focusing on both land-based and online gambling statistics. Over the years it became a trusted provider of revenue estimates, market share analysis, and player behaviour insights.
In November 2024, H2 Gambling Capital was acquired by Burghclere, a data-intelligence business founded by Charlie Teviot (the entrepreneur behind With Intelligence). The acquisition created what the companies described as the leading gambling data intelligence business, now offering an expanded suite of data products and consultancy services.
Business Model & Revenue
H2 Gambling Capital operates as a subscription-based data and research consultancy. It generates revenue through annual subscriptions to its market data and market share databases, monthly market tracking reports, bespoke advisory projects, and the sale of white papers and thematic reports. The company also offers tailored consultancy engagements, including market entry strategy, revenue forecasting, and regulatory impact analysis.
Products & Services
H2 Gambling Capital's core offerings are data-driven and customizable. The main products include: Market Data, providing comprehensive breakdowns of onshore and offshore gambling revenue by product across 150+ countries with historical and forecast data; Market Share Data, offering granular market share analysis for operators, suppliers, and product verticals; Monthly Market Tracking, a subscription-based update on market performance with trend analysis; Company Data, profiling and financial data on gambling operators and suppliers; Player Survey Data, proprietary survey-based insights into player behaviour; and Reports, covering white papers, thematic deep dives, and country-specific analyses. The company also provides Bespoke Consultancy for tailored advisory projects.
Market Position & Competitors
H2 Gambling Capital is widely cited by trade publications such as iGB, EGR, and NEXT.io, as well as by regulators and operators. It is a key independent data provider in the global gambling intelligence space, competing with other data firms like Global Betting & Gaming Consultants (GBGC) and sector-specific analysts. Notably, H2 published forecasts that $4 billion would be wagered during the 2026 NCAA March Madness tournament and that UK illegal gambling wagers could surpass £33 billion by 2028.
Regulatory & Licensing
As a consultancy, H2 Gambling Capital does not hold a gambling operator license. It is registered as a private limited company in the UK (company number 10156996). Its operations are governed by standard UK business regulations, and its privacy policy confirms the scope of its data services.
Recent Strategic Direction
The acquisition by Burghclere in late 2024 marks a major strategic shift, combining H2's deep gambling data with Burghclere's broader data intelligence capabilities. This move positions the merged entity to offer enhanced data products and expand its client base across both operators and regulators.
Key Products
Global Gambling Revenue Data
Detailed gambling turnover and revenue data by product and channel for over 150 markets, with forecasts extending to 2030 and historical data from 1998. It covers both onshore and offshore revenues.
Market Share Data
Analysis of over 12,000 online gambling brands, tracking web traffic, affiliate traffic, and web search data to provide revenue forecasts and detailed insights into the competitive landscape across more than 100 jurisdictions, including specific US sports betting and iGaming market share.
Monthly Market Tracking
Monthly online onshore and offshore revenue estimates that offer timely insights into changing revenue trends across key global markets.
Company Data
An operator and supplier-focused analysis service covering over 100 B2C and B2B gambling companies globally. This includes financial models, company updates, and conference call notes.
Market Reports
Aggregated market reports providing key information such as market dynamics overviews, recent key trends, revenue forecasts, market share analysis, key news, and regulatory trackers.
Player Survey Data
Insights derived from player surveys, offering understanding into consumer behavior and preferences within the gambling market.
US Sports Betting & iGaming Tracking
Monthly, state-by-state tracking of US sports betting and iGaming gross win by operator, including handle and net win where available.
Bespoke Consulting
Tailored advisory services to premium clients, undertaking 'deeper dive' commissions on specific market aspects or strategic questions.
Market Data
Comprehensive breakdown of onshore and offshore gambling revenue by product across 150+ countries, including historical and forecast data.
Reports
Published white papers, thematic reports, and country-specific deep dives (e.g., Brazil, UK illegal gambling).
Bespoke Consultancy
Tailored advisory projects including market entry strategy, revenue forecasting, regulatory impact analysis, and due diligence support.
Offices & Headcount
11 employees (approx.)
Key Persons
- Simon Holliday
Founder
Ed BirkinManaging Director
- Josh Hodgson
Senior Associate
Recent News
Germany and Spain iGaming Markets in Focus: Conference Lineups and Regulatory Shifts
Two separate iGaming updates cover the 2026 Gaming in Germany Conference with a strong speaker lineup focused on treaty evaluation and market re-regulation, and Spanish regulatory developments including a public consultation on remote gambling amendments and cross-operator deposit limits that could reduce onshore spend by €300 million annually.
2026-07-13
Africa's iGaming Evolution: Market Dynamics and Regulatory Pathways
Africa is rapidly solidifying its position as a major growth frontier for online gambling, propelled by rising mobile adoption and a mix of established and emerging markets like South Africa, Nigeria, Kenya, and Ghana. While robust expansion is evident, operators must navigate complex regulatory landscapes, over-regulation, and high taxes by prioritizing localization and fostering greater collaboration with local authorities.
2026-07-01