British airline company easyJet's parent organization ventures into the UK's online sports betting market through a partnership with an offshore gaming company.
Easy Group and Triplebet Launch Joint Venture for Sports Betting Services
In a strategic move to expand its brand, Easy Group, the parent company of easyJet, has entered the world of online sports betting in the UK through a joint venture with offshore betting firm Triplebet. The result of this partnership is EasyBet, a platform offering sports betting services.
The joint venture is the brainchild of two businessmen: Stelios Haji-Ioannou, the founder of Easy Group and easyJet, and Zeljko Ranogajec, the owner of Triplebet. Ranogajec, a low-profile multimillionaire and one of the most successful gamblers in the world, is also the owner of Triplebet's UK-sanctioned subsidiary, Matchbook.
Matchbook will pay a license fee to white label the Easy brand for sports betting services. The Matchbook-powered EasyBet website offers a wide range of sports betting markets, including popular ones like the US presidential elections.
EasyBet's creation is a defensive move to assert company branding over other betting sites using the Easy name or variations. Haji-Ioannou, who has deemed gambling a "natural new market to complement our other large consumer brands," licenses out and receives royalties from the Easy label.
The joint venture between EasyGroup and Triplebet is not a new concept in the industry. Other companies, such as Virgin, Sky, and the Sun, have similar arrangements.
However, EasyBet's journey was not without its challenges. In 2020, the UK Gambling Commission suspended Triplebet's license due to failings on player protection and anti-money laundering controls. Six months later, the commission restored Triplebet's license, but fined them £740,000 ($958,873).
EasyBet took to platform X to announce its UK launch. Despite the initial setbacks, the joint venture is poised to make its mark in the competitive world of online sports betting.
In conclusion, the partnership between EasyGroup and Triplebet marks a significant step for both companies as they venture into the sports betting industry. With the successful and experienced Ranogajec at the helm, EasyBet is well-positioned to provide a reliable and exciting sports betting experience for its customers.
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