Gaming Innovation Group (GiG) has announced the Portuguese launch of leading online sports operator Betway, powered by its award winning igaming platform and sportsbook, in a release that expands on GiG’s growing list of tier 1 partners in complex regulated markets.
Betway is GiG’s second B2B partner brand now live in Portugal, and the first under the new stewardship of former SBTech and DraftKings executives, CEO Richard Carter and CBO Andrew Cochrane. The arrival of both strengthens GiG’s underlying top tier credentials, with their extensive experience at delivering commercial growth expected to continue to expand on GiG’s growing list of high profile partnerships, across its Sportsbook, next generation Platform and AI solutions.
Already crowned EGR’s Full Service Platform and Multi-Channel Supplier of the year for 2023, at one of the industry’s most prestigious awards, GiG has crafted a full suite of solutions that are ideally positioned to take advantage of tightening global legislation, driving growth and revenue within the most complex and highly regulated markets.
Portugal itself provides one of the most robust regulatory online gaming frameworks in Europe, alongside a resolute taxation structure that facilitates the need for highly configurable solutions to help navigate opportunities for growth in the market. GiG’s innovative solutions place a concerted focus on driving acquisition and retention, leveraging market leading features that offer enhanced opportunities for leading operators around the world.
The online gaming market in Portugal offers considerable opportunity for growth. Revenue rose to a record €658.6m in 2022, an increase of over 30 per cent YoY across the 28 license holders, 12 for sports betting and 16 for iGaming, according to data supplied by the regulator, Servico de Regulacao e inspecao de Jogos (SRIJ).
Andrew Cochrane, Chief Business Officer at GiG, said: “I’m proud of the close partnership we’ve developed with Betway, and the product that we’ve helped build with the team for the Portuguese regulated market. Betway are a leading tier 1 operator, and this launch helps affirm our growing position as a market leader in the B2B industry. This is a very exciting time to be a part of GiG, as we continue to invest in our product and technology capabilities to underpin further Tier 1 client wins and provide existing clients with ever more compelling product features.”
Anthony Werkman, CEO of Betway, said: “As part of our ambitious growth strategy for Portugal in 2024, this GiG platform will help play a role in expediting our objectives to elevate the sports betting experience for existing Betway customers in Portugal and appealing to new ones. This agreement will also allow our teams to work in synergy to reach our shared goals and aspirations within the country”.