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Betway’s Launch in Portugal with GIG

Betway's Launch in Portugal with GIG
by
January 10, 2024
in Business News, iGaming News
242

Gaming Innovation Group (GiG) has proudly announced the launch of leading online sports operator Betway in Portugal. This strategic endeavor marks GiG’s second B2B partner brand to go live in Portugal, signaling a new era under the leadership of former SBTech and DraftKings executives, Chief Executive Officer Richard Carter and Chief Business Officer Andrew Cochrane.

Strengthening Partnerships with Industry Veterans

The arrival of Carter and Cochrane further strengthens GiG’s position in the market, enhancing its top-tier credentials. With a wealth of experience in delivering commercial growth, these executives are expected to propel GiG to new heights through high-profile partnerships in sportsbook offerings, next-generation platforms, and artificial intelligence (AI) solutions.

Recognitions and Awards

GiG’s reputation precedes itself, having been crowned EGR’s Full Service Platform and Multi-Channel Supplier of the Year for 2023. This recognition at one of the industry’s most prestigious awards showcases the company’s prowess in crafting a full suite of solutions tailored to take advantage of tightening global legislation.

Versatile Solutions for Complex Markets

GiG’s suite of solutions is well-positioned to capitalize on regulatory frameworks in complex markets. Portugal, with its robust online gaming regulations and resolute taxation structure, provides an ideal backdrop for GiG’s highly configurable solutions. The company’s innovative approach focuses on driving acquisition and retention, offering market-leading features that create enhanced opportunities for operators globally.

Portuguese Online Gaming Market: A Lucrative Landscape

The Portuguese online gaming market presents a significant opportunity for growth, with revenue reaching a record €658.6 million in 2022. This impressive figure represents a year-on-year increase of over 30% across the 28 license holders, covering both sports betting and iGaming. Data provided by the regulator, Servico de Regulacao e Inspecao de Jogos (SRIJ), underscores the market’s vibrancy and potential.

GiG and Betway: A Collaborative Endeavor

Andrew Cochrane, Chief Business Officer for GiG, expressed pride in the close partnership with Betway and the product developed for the Portuguese regulated market. He emphasized Betway’s position as a leading tier-one operator and how this launch further solidifies GiG’s standing as a market leader in the business-to-business (B2B) sector.

Anthony Werkman, Chief Executive Officer for Betway, highlighted the strategic significance of the agreement, stating that the GiG platform plays a pivotal role in achieving Betway’s growth objectives in Portugal for 2024. The partnership aims to elevate the sports betting experience for existing Betway customers in Portugal while attracting new ones.

Looking Ahead: GiG’s Growth Strategy

Carter and Cochrane’s leadership, coupled with the innovative solutions offered by GiG, positions the company for ambitious growth. The investment in product and technology capabilities reflects GiG’s commitment to securing further tier-one client wins and enhancing features for existing clients.

Conclusion

As the gaming industry evolves, strategic partnerships become integral to success. GiG’s collaboration with Betway in Portugal exemplifies a shared commitment to excellence, innovation, and market leadership. The launch not only expands Betway’s reach but also cements GiG’s position as a dynamic player in the B2B sector, poised for continued success in the ever-evolving landscape of online gaming.

FAQ:

What is the significance of Betway’s launch in Portugal with Gaming Innovation Group?
Betway’s launch in Portugal with GiG signifies a strategic move to expand its presence in complex regulated markets, leveraging GiG’s innovative solutions.

Who are the key executives leading GiG in this venture?
Former SBTech and DraftKings executives, Chief Executive Officer Richard Carter and Chief Business Officer Andrew Cochrane, are at the helm of GiG’s leadership for this expansion.

What awards has GiG recently received?
GiG was crowned EGR’s Full Service Platform and Multi-Channel Supplier of the Year for 2023, showcasing its industry recognition and excellence.

Why is Portugal considered an attractive market for online gaming?
Portugal offers a robust regulatory framework and a resolute taxation structure, making it an ideal backdrop for highly configurable solutions to navigate opportunities for growth.

How does GiG’s suite of solutions benefit operators in complex markets?
GiG’s solutions focus on driving acquisition and retention, offering market-leading features that create enhanced opportunities for operators to thrive in complex and highly regulated markets.

What growth opportunities does the Portuguese online gaming market present?
The market witnessed a record revenue of €658.6 million in 2022, with a year-on-year increase of over 30% across 28 license holders, covering sports betting and iGaming.

How does this partnership benefit existing Betway customers in Portugal?
The partnership aims to elevate the sports betting experience for existing Betway customers, offering enhanced services and features.

What role does the GiG platform play in Betway’s growth objectives in Portugal?
The GiG platform is a key enabler in Betway’s growth strategy for Portugal in 2024, expediting objectives and appealing to new customers.

How does GiG plan to secure further tier-one client wins?
GiG is investing in product and technology capabilities to underpin further tier-one client wins, demonstrating a commitment to providing compelling product features.

What is the overarching goal of the GiG and Betway collaboration in Portugal?
The collaboration aims to achieve shared goals of market leadership, innovation, and excellence, solidifying both companies’ positions in the dynamic online gaming landscape.

 

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