Altenar explains why a sportsbook can strengthen casino operator growth

For casino operators considering expansion into sports betting, the decision can appear more complicated than it needs to be. Concerns about technology, operational requirements, margins and return on investment can all influence whether a sportsbook becomes part of a wider product strategy. Altenar argues that several established assumptions deserve closer examination.

The sportsbook market has increasingly become part of a broader multi-product approach. Rather than treating casino and sports betting as completely separate businesses, operators can use the two verticals to create additional engagement opportunities and encourage customers to interact with different parts of the same platform.

For casino-first businesses, the potential value is therefore not limited to sportsbook betting revenue. A well-integrated sportsbook can provide additional reasons for customers to return during major sporting events, while creating opportunities to introduce casino products to sports-focused users.

Altenar's own experience with L&L Europe provides a recent example of this approach. The two companies began working together in late 2022 after L&L Europe decided to expand beyond its established casino operations and introduce sports betting to its UK-facing portfolio.

Myth one: A sportsbook is too complex to launch

One of the most persistent concerns among casino operators is the perceived complexity of launching a sportsbook. A traditional assumption is that a business must develop extensive internal technology capabilities, recruit specialist trading teams and build a large operational structure before it can enter the market.

Modern sportsbook solutions can reduce some of those requirements by providing technology and operational services through an established B2B provider. Altenar, for example, positions its sportsbook offering as a flexible solution that can range from API integration to a fully managed operation with trading and operational support.

For an existing casino operator, this approach can allow the business to concentrate on its customer base, marketing strategy and brand development rather than attempting to establish every sportsbook function independently.

The technical side is also only one part of the equation. Sports betting requires consideration of market availability, odds management, risk controls, responsible gambling measures and regulatory obligations. A provider with established sportsbook infrastructure can help operators manage these areas within the framework applicable to their target market.

This does not mean launching a sportsbook is automatically simple. Licensing, compliance, payments, customer support and responsible gambling obligations remain important considerations. The more accurate conclusion is that an operator does not necessarily need to build every sportsbook capability from scratch.

Myth two: Sportsbook is necessarily a lower-margin product

Another assumption is that sportsbook economics are inherently less attractive than casino economics. In practice, profitability depends on market conditions, product mix, customer behaviour, trading performance and the commercial structure of the operator-provider relationship.

Sports betting can also contribute value beyond the direct gross gaming revenue generated from wagers. Sporting calendars create recurring engagement points that can bring customers back to a platform throughout the year.

Football fixtures, tennis tournaments, basketball competitions and major international sporting events can each provide fresh reasons for customers to visit an operator's platform. That repeated engagement can create additional opportunities for cross-selling between sportsbook and casino.

Altenar's recent L&L Europe case study illustrates the relevance of this multi-product model. The company said football, tennis and basketball accounted for 71% of sportsbook turnover within the business and identified football, particularly the Premier League, as a major source of engagement and volume.

The important point for operators is that sportsbook should not necessarily be evaluated as a standalone revenue line. Its wider contribution to customer activity can be equally relevant when assessing its strategic value.

Myth three: The return on investment is too uncertain

Return on investment is likely to remain one of the most important questions for any operator considering sportsbook expansion. Technology costs, licensing requirements, marketing expenditure and ongoing operational resources all need to be assessed before a launch.

However, the value of sportsbook can extend beyond immediate betting revenue. A multi-product customer may have more opportunities to engage with an operator than a customer who uses only one vertical.

Major sporting events can also create predictable periods of increased interest. This gives operators opportunities to develop campaigns, promotions and tailored customer journeys around relevant sporting activity while maintaining appropriate regulatory and responsible gambling controls.

The commercial objective is therefore not simply to acquire sportsbook customers. It is to create an integrated environment in which customers can move between products according to their interests.

For casino operators, that can make sportsbook a potential retention tool as well as a new source of revenue. The precise financial outcome will vary between operators and markets, so individual performance should not be treated as a guarantee for other businesses.

L&L Europe provides a practical example

L&L Europe offers a useful example of how an established casino-focused operator approached sportsbook expansion. The company was founded in Malta in 2013 and has developed a portfolio of online gaming brands. Its official website currently describes a business with more than two million players and multiple brands, while its portfolio includes All British Casino, Pub Casino and Quickbet.

Until 2022, L&L Europe operated exclusively in the casino vertical. The company subsequently partnered with Altenar to introduce sports betting to its UK-facing operations. The original partnership announcement confirmed that the sportsbook solution included pre-match and live betting together with promotional tools and operational support covering risk management, limits and customer communications.

The later case study describes a broader multi-brand strategy. Altenar says the sportsbook was designed to support scalable integration across UK-facing platforms alongside a widget-based front end, promotional tools, localised sports content and ongoing trading and risk management support.

The reported results provide a useful indication of how the model developed. According to Altenar, the sportsbook user base increased fourfold between 2023 and 2024 before increasing by a further three times from 2024 to the present. The company also reports a 312% increase in monthly sportsbook GGR between 2023 and 2026.

Those figures relate specifically to L&L Europe and should not be interpreted as a typical or guaranteed outcome for other operators. They do, however, demonstrate the scale of growth reported by Altenar following the expansion.

A sportsbook can become part of the wider customer journey

The strategic argument ultimately goes beyond whether a sportsbook can generate betting revenue on its own. For casino operators, the more significant question may be whether sports betting can strengthen the overall relationship between the customer and the brand.

Charlie Williams, commercial director at Altenar, said: “We still hear operators describe sportsbook as if it’s a completely separate business that competes with casino. In reality, the strongest results come when both products are designed to complement each other through optimised player journeys.

“Sport creates recurring moments of engagement. If those moments are supported by the right technology, personalisation and operational expertise, sportsbook becomes much more than an additional vertical – it becomes a driver of reduced acquisition costs, higher retention through cross-selling and increased long-term player value.”

The comments reflect a broader industry approach in which customer value is assessed across the entire product relationship rather than through a single vertical.

For an operator that already has a substantial casino customer base, sportsbook can potentially provide another reason for customers to return. For a sports-focused customer, casino can provide an additional entertainment option. The commercial opportunity comes from connecting those experiences responsibly and effectively.

Regulation remains central to sportsbook expansion

Despite the potential commercial benefits, sportsbook expansion cannot be considered separately from regulatory obligations. Operators targeting Great Britain must comply with the requirements of the UK Gambling Commission while businesses operating from or serving other regulated markets must address the relevant local licensing framework.

The UK Gambling Commission regulates commercial gambling in Great Britain and provides licensing, compliance and regulatory guidance for betting operators and gambling software businesses.

L&L Europe is also listed by the Malta Gaming Authority as a licensed operator and has a presence within the regulated UK market. The Malta Gaming Authority maintains a public licensee register that allows stakeholders to verify licensing information.

Consequently, the decision to add sportsbook should be based on a complete assessment covering technology, licensing, responsible gambling, payments, trading, risk management and customer support.

Conclusion

The case for sportsbook expansion is becoming less about adding another standalone gambling product and more about building a broader customer ecosystem. The technology available to operators has developed significantly, allowing casino businesses to consider sportsbook without necessarily creating every technical and operational capability internally.

The experience reported by L&L Europe illustrates the potential of this approach. After years of operating as a casino-focused group, the company introduced sportsbook through a partnership with Altenar and subsequently reported substantial growth in sportsbook users and monthly GGR.

There is no universal formula for success and the reported performance of one operator should not be treated as a prediction for another. Market conditions, regulation, customer behaviour and execution will all influence the outcome.

Nevertheless, the underlying strategic argument is clear. A sportsbook can give casino operators additional engagement opportunities while creating more routes for cross-selling and customer retention. When supported by appropriate technology, operational expertise and regulatory controls, sports betting can function not merely as another product but as a component of a broader multi-product strategy.

For casino operators evaluating their next stage of growth, the relevant question may therefore be less about whether sportsbook belongs in the business and more about whether it can be integrated in a way that creates sustainable value for both the operator and its customers.

FAQs

Why is Altenar discussing sportsbook expansion for casino operators?
Altenar is highlighting common assumptions surrounding sportsbook launches and explaining how an integrated approach can potentially support customer engagement, retention and cross-selling.

Is launching a sportsbook difficult for a casino operator?
Launching a sportsbook requires technology, licensing, trading, risk management and operational capabilities. However, working with an experienced B2B provider can reduce the need to build every function internally.

Can sportsbook complement an online casino?
Yes. Sports and casino can be integrated into a broader customer journey, giving users additional opportunities to engage with an operator's platform.

Does sportsbook always produce lower margins than casino?
Not necessarily. Sportsbook economics vary according to the market, product mix, trading performance and customer behaviour. Margin comparisons should therefore be assessed on an operator-specific basis.

How can sportsbook support player retention?
Sports calendars provide recurring engagement opportunities. Regular fixtures and major tournaments can give customers additional reasons to return to a platform.

What happened when L&L Europe added sportsbook?
L&L Europe partnered with Altenar in late 2022 after operating as a casino-focused business. Altenar later reported significant growth in sportsbook users and monthly GGR between 2023 and 2026.

Which sports performed strongly for L&L Europe?
According to Altenar's case study, football, tennis and basketball accounted for 71% of sportsbook turnover. Football, particularly the Premier League, generated the highest reported engagement and volume.

Does adding sportsbook guarantee higher player lifetime value?
No. Sportsbook can create additional engagement and cross-selling opportunities but results depend on execution, market conditions, customer behaviour and the operator's broader strategy.

What should operators consider before launching sportsbook?
Operators should assess licensing, technology, trading, risk management, payments, customer support, responsible gambling requirements and the commercial cost of implementation.

Why is sportsbook integration becoming strategically important?
A sportsbook can provide an additional source of revenue while creating recurring engagement around sporting events. When properly integrated, it can also support cross-selling between sports betting and casino products.