bet365 Search Index Drops 28% While CEB Slips 6%
Bet365’s global Blask Index was 28% lower in August than in January, according to data published by Blask on September 25. Its Competitive Earning Baseline, or CEB, declined by 6% over the same period.
CEB is Blask’s model of projected revenue (not revenue reported by bet365). For January through August, the model puts the operator’s cumulative CEB at $5.23 billion. Monthly CEB reached $684 million in June before falling to $607 million in August.
Search moved earlier. The Blask Index peaked in April and had lost 37% from that high by August.
US Was the Only Top-Five CEB Market to Grow
The UK and Brazil ended August less than $5 million apart at the top of bet365’s CEB ranking. Together with the other three largest markets, the top five accounted for 56% of the operator’s global modeled revenue.
Their direction was not the same. The US was the only market in the CEB top five to post growth between January and August, up 17%. The UK stayed close to its January level.
Brazil and Spain recorded much steeper drops in search demand than in CEB. Canada declined on both measures.
Search and CEB Top Fives Differ in Two Markets
The geographic split also changes depending on which metric is used. Brazil, the UK, Italy, Argentina and Spain made up bet365’s top five markets by search volume.
The CEB group instead included the US and Canada. Italy and Argentina dropped out.
That leaves only three markets (Brazil, the UK and Spain) appearing in both top-five groups.
The Gap Between Search and CEB
The difference is useful when reading the 28% global search decline. Lower branded search did not translate into an equivalent movement in Blask’s revenue model during the same eight-month period.
The US shows the clearest example. It was absent from the search-volume top five but still ranked among bet365’s five largest CEB markets and increased its monthly CEB by 17% from January to August.
For bet365 globally, the gap remained wide at the end of the period: search was down 28% from January, while modeled revenue was down 6%.