Super Group is a global online sports betting and casino operator running two consumer-facing businesses: Betway, a single-brand sports-led sportsbook and casino, and Spin, a multi-brand online casino portfolio of 16+ brands (plus roughly 200 UK-focused brands under its Jumpman subsidiary). Casino makes up roughly 80% of revenue, with sports the remaining 20%. Betway accounts for about 61% of net gaming revenue and Spin the rest. Super Group operates across five regions, with Africa and the Middle East (~40% of revenue) and North America (~33%, primarily Ontario) as the two largest. The company makes money by retaining a margin on customer wagers — in sportsbook, this is the odds-setting margin (roughly 13–14% in 2025); in casino, it is a statistical take embedded in each game's return-to-player setting. Casino revenue is structurally more predictable than sportsbook. Key profitability drivers include monthly active customers (5.6M on average in 2025), sportsbook margin, and marketing efficiency, with Super Group spending roughly 22–26% of revenue on marketing. The cost structure is largely fixed, so incremental revenue in mature markets drops to EBITDA at high margins. Super Group recently acquired its sportsbook software in-house, expecting ~$35M in annualized savings. Growth priorities include deepening penetration in Africa and the UK, expanding into newly regulated markets (Alberta, several African markets), and deploying AI and a ZAR-pegged stablecoin to reduce payment costs in Africa. Super Group has exited unprofitable markets, including U.S. sports betting and iGaming, and returns substantial capital to shareholders via dividends.