LeoVegas Launches New Sports Betting Venture on BetUK

LeoVegas has added sports betting to recent purchase BetUK just two years after adding its own non-casino options.

Swansea City BetUK.

Swansea City sponsor BetUK will now offer sports betting thanks to SBTech’s software. (Image: Swansea City FC)

Launched on August 29, the new platform will increase the number betting options on the site LeoVegas acquired back in January.

Following its £65 million takeover of Intellectual Property & Software Limited, LeoVegas assumed control of its assets, including BetUK.

LeoVegas Building Its Sports Betting Base

The operator quickly agreed a sponsorship deal with Swansea City FC and has now given the casino-only site a selection of sports betting options. In addition to pre-event markets on 32 different sports, BetUK will also offer in-play wagers on football, basketball, eSports and more.

The launch of BetUK’s sportsbook comes just a few weeks after LeoVegas announced that SBTech would also be supplying its services to another one of its sites, Rocket X. According to chief executive Gustaf Hagman, the UK market is in a strong position and ripe for creating new opportunities.

“The UK market is very large and mature, which creates scope to work with more brands that attract different types of customers. We are now taking the next step and launching a brand that has sports betting as its primary focus,” Hagman said following the August 29 launch.

LeoVegas Looking to Play with the Big Boys

As a company, LeoVegas first entered the sports betting arena back in 2016. After sizing up its options, the Swedish operator partnered with Kambi in order to launch its first online sportsbook.

Although this deal is still in place, LeoVegas has chosen SBTech as the software supplier for its subsidiary sites. Despite the differences across the gaming group, LeoVegas is becoming more of a player in the sports betting sector.

During the 2018 World Cup in Russia, bookies in the UK took an estimated £2 billion in bets. Although the tournament only comes around every four years, the flurry of activity has shown that the market for live and online sports betting is alive and well.

Beyond its interests in the UK, LeoVegas may also be positioning itself for a move into the US. Following the repeal of the Professional And Amateur Sports Protection Act (PASPA) in May, betting operators such as William Hill have been making inroads into the fledging market.

By establishing a base in the UK and gaining experience in the sports betting market, LeoVegas could be looking to partner with a US casino brand within the coming months.

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