Codere Online Considers Prediction Markets Expansion in 2027
Spain.- 3 November 2026 | www.zonadeazar.com Codere Online is evaluating the possibility of adding prediction markets to its product portfolio, according to its CEO, Aviv Sher, in comments published on 2 November 2026.
The executive believes these products could complement the company’s international strategy, particularly in Mexico and among Spanish-speaking consumers in the southern United States.
Although no final decision has been made, Sher indicated that 2027 could be a potential entry point for Codere Online into prediction markets.
Prediction Markets Offer Potential for Expansion
Codere Online continues monitoring the development of prediction markets as a possible new business vertical.
Sher initially raised the possibility in May 2026, describing the sector as a potentially attractive extension of the company’s existing offering.
In his latest comments, the CEO confirmed that Codere Online remains interested in the commercial and regulatory opportunities.
“Maybe next year it will come, but we are still monitoring it. I think prediction markets can be a nice addition to our portfolio,” he explained.
For now, Codere Online has not announced a launch, a technology partner or an official implementation timetable.
Mexico and the United States as Strategic Markets
The potential introduction of prediction markets could complement Codere Online’s North American strategy.
Sher identified opportunities connected to the company’s presence in Mexico and Spanish-speaking consumers in the southern United States.
The business believes these products could broaden its offering and potentially reach additional customer segments.
However, any future launch would depend on the commercial and regulatory conditions of the selected markets.
Codere Online Forecasts Up to €265 Million in NGR
The exploration of new products follows record second-quarter financial results.
During Q2 2026, Codere Online reported:
- Net gaming revenue (NGR): €69.4 million.
- Adjusted EBITDA: €5.8 million.
- Full-year 2026 NGR guidance: €255 million to €265 million.
- Full-year adjusted EBITDA guidance: €20 million to €25 million.
The company raised its annual financial guidance following its quarterly performance.
Sher expressed confidence that Codere Online would achieve its updated targets.
Spain and Mexico Generate Over 90% of Revenue
Spain and Mexico remain Codere Online’s two largest markets.
During the second quarter, the countries generated a combined €63.7 million in net gaming revenue, with both reporting year-on-year growth exceeding 20%.
Together, they accounted for more than 90% of the company’s quarterly NGR.
The figures reinforce the importance of these jurisdictions within Codere Online’s growth strategy.
The company intends to consolidate its position in these markets while evaluating additional commercial opportunities.
New Five-Year Strategic Plan
Codere Online is currently developing a new five-year business plan.
According to Sher, its principal objective will be to substantially increase current revenue while maintaining continued growth.
To achieve these goals, the company intends to prioritise investment in its existing operations.
The executive explained that Codere Online could have generated higher EBITDA but chose to allocate additional resources to developing its core markets.
This approach is designed to strengthen its competitive position and support long-term profitability.
Regulatory Changes in Spain and Mexico Raise Concerns
Sher also expressed concern about regulatory developments in the company’s two main markets.
In Mexico, the tax rate on gross gaming revenue (GGR) increased to 50% at the beginning of 2026.
In Spain, regulators are expected to introduce joint deposit limits in 2027 alongside further regulatory changes.
The CEO believes these developments could complicate growth strategies for licensed operators.
Codere Online is seeking greater regulatory stability to support investment planning and ongoing development.
Codere Online Calls for Stronger Action Against Illegal Gambling
Another issue highlighted by Sher was the position of unlicensed gambling operators in Spain.
The executive criticised what he considers insufficient enforcement against platforms operating without authorisation.
In his view, increasing restrictions on regulated operators without strengthening action against illegal gambling could encourage customers to move towards unlicensed businesses.
Sher argued that this situation could also undermine government tax revenue.
His comments reflect Codere Online’s position within the wider debate concerning regulation, taxation and market competitiveness in Spain.
NFL Partnership Supports Growth in Mexico
Codere Online is also strengthening its position in Mexico through sports partnerships.
In October 2026, the company announced a multi-year agreement with the National Football League (NFL).
The partnership will provide opportunities for promotional activities linked to American football and increase brand exposure.
Sher highlighted the NFL’s popularity in Mexico and the commercial value of partnering with an internationally recognised sporting organisation.
The executive explained that Codere Online evaluates marketing investments according to potential returns and expects the partnership to deliver results over the coming years.
Industry Impact and Next Steps
The potential addition of prediction markets represents a diversification opportunity for Codere Online.
However, the company remains focused on expanding its existing operations in Spain and Mexico, which generate the majority of its revenue.
Its new five-year strategic plan and regulatory developments will be important factors in determining future decisions.
With full-year 2026 net gaming revenue guidance of up to €265 million, Codere Online is considering prediction markets as a potential expansion opportunity in 2027, particularly in connection with Mexico and Spanish-speaking customers in the United States.
For now, the operator continues monitoring the sector without confirming a commercial launch.
Edited by: @fonta
