H2

Background

H2 Gambling Capital is an independent market-research firm founded in London by David Henwood and Simon Holliday, two analysts with deep experience in gambling market data. The company was set up to provide quantitative, independent intelligence on betting and gaming revenue at a time when reliable public data was scarce. Its name is frequently shortened to H2GC in industry reports and press coverage.

Data and Coverage

H2 built its proprietary model by combining regulatory returns, operator disclosures, national account statistics and trade data. The resulting database tracks gross gambling revenue in more than 100 jurisdictions, split by channel and vertical, with historical figures and forward projections. The firm's coverage spans sports betting, casino, lottery, bingo and poker, across both land-based and remote operations.

Business Model

H2 generates revenue by selling subscriptions to its market database and through custom research, market-entry studies, due-diligence support and regulatory assessments. It also publishes white papers and speaks publicly about market trends. Unlike media or affiliate businesses, its income is derived from data and advice, so its forecasts and estimates are positioned as independent research rather than promotional content.

Products

The core product is the H2 global gambling database, often referred to as H2GC data, which is used for market sizing, benchmarking and valuation work. Alongside this, H2 produces country and regional market reports, thematic studies and forecasting exercises. One of its best-known publications is the European Online Gambling Key Figures report, co-authored with the European Gaming and Betting Association, which is widely used by European regulators and policymakers.

Market Position

H2's estimates are regularly cited by iGaming trade titles and mainstream business media, and its data is a common input for investment-bank research and professional-services analysis. Its main competitors include Global Betting and Gaming Consultants, Vixio Gambling Compliance and Regulus Partners. Because H2 tracks online and land-based gambling on a like-for-like basis, its figures are often used as the reference point for the global and regional market sizes.

Recent Developments

In recent years H2 has focused its public analysis on the online gambling boom in North America, Latin America and Africa, and on the continuing shift of revenue to mobile and online channels. It has also contributed to European regulatory discussions through its work with EGBA. The company remains privately held and has not announced any external funding round or acquisition.