High Roller says prediction markets could drive 2027 growth

High Roller Technologies reported third-quarter net revenue of $2.4 million, down 51% from a year earlier, while its newly launched prediction-markets operation generated no revenue in the period. The company said the business was still being built during the quarter ended Sept. 30, but could become its main growth driver in 2027.

The decline reflected the year-over-year effect of leaving certain online-casino markets in 2025 and continued spending to bring the ROLR platform to market, Chief Financial Officer Adam Felman said. Revenue per depositing casino customer nevertheless more than doubled from a year earlier.

High Roller ended September with $13.4 million in cash and cash equivalents and no outstanding borrowings. It said those funds should be sufficient to finance operations for at least 12 months. The cash balance was lower than the $18 million reported at the end of the second quarter.

ROLR opened to eligible US customers on Oct. 21, after an invitation-only beta that began Sept. 15. As we reported in October, the commercial launch took the platform beyond its invitation-only phase and High Roller expected it to begin contributing revenue in the fourth quarter.

Chief Executive Seth Young said the company expected the third quarter to be the final period in which prediction markets appeared only as an expense. High Roller’s strategy combines regulated-exchange event contracts with a company-controlled consumer product, market information and digital-distribution relationships.

The platform offers contracts tied to outcomes in sports, financial markets, politics, entertainment and other real-world events. Bernstein estimated total prediction-market trading volume at about $410 billion in 2026 and projected annual volume could reach $10 trillion by 2035, according to The Block’s report on the analysts’ research.

High Roller launched an iOS app through Apple’s App Store on Nov. 9 and plans to release an Android app during the fourth quarter.