Gaming Innovation Group launches Betway in Portugal

Lea Hogg January 9, 2024

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Gaming Innovation Group launches Betway in Portugal

In a strategic move enhancing its tier 1 European portfolio, Gaming Innovation Group (GiG) has successfully launched the renowned online sports operator, Betway, in Portugal. This significant expansion underscores GiG’s commitment to developing partnerships in intricately regulated markets, solidifying its position as a B2B industry leader.

Gaming Innovation Group is a leading iGaming technology company, providing solutions, products, and services to iGaming Operators. Founded in 2012, Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK

GiG continues Tier 1 expansion

This latest development marks GiG’s second B2B partner brand going live in Portugal, introducing Betway under the leadership of CEO Richard Carter and CBO Andrew Cochrane. Both industry veterans, Carter and Cochrane, bring invaluable experience from their roles at SBTech and DraftKings, respectively, further amplifying GiG’s capabilities in delivering commercial growth.

The move aligns seamlessly with GiG’s focus on expanding its high-profile partnerships across sportsbook, next-generation platform, and AI solutions.

Roll out in the Portuguese market

Having clinched EGR’s Full Service Platform and Multi-Channel Supplier of the Year for 2023, GiG’s success is attributed to its innovative suite of solutions tailored for tightening global legislation. Portugal, with its robust regulatory framework and a taxation structure demanding configurable solutions, becomes a strategic market for GiG’s cutting-edge offerings. The company’s emphasis on acquisition and retention, coupled with market-leading features, positions it as a driver of growth for operators worldwide.

Portugal’s booming online gaming market

As the Portuguese online gaming market witnesses a remarkable surge with a record €658.6m revenue in 2022, GiG stands poised to capitalize on this opportunity.

With 28 licence holders, including 12 for sports betting and 16 for iGaming, the market offers a fertile ground for expansion. Andrew Cochrane, Chief Business Officer at GiG, expressed pride in the partnership with Betway, emphasizing the launch as a pivotal moment in GiG’s journey as a B2B market leader.

Anthony Werkman, CEO of Betway, echoes the sentiment, stating, “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.”

Collaborating to achieve shared goals

In response to the collaboration, Cochrane stated, “This is a very exciting time to be a part of GiG,” highlighting ongoing investments in product and technology capabilities to secure Tier 1 client wins and enhance features for existing clients. Betway’s CEO, Anthony Werkman, expressed optimism, emphasizing the collaborative synergy between the two teams in reaching shared goals and aspirations within Portugal.