Global sports betting and casino operator 1xBet recently announced the acquisition of an operating license in the regulated market of Brazil, marking another significant milestone in the company's expansion in regulated jurisdictions in recent years. Founded in 2007 and headquartered in Cyprus, the brand is globally recognized but has sparked controversy. Now, the company is striving to reshape its image through a "new direction" strategy, one of the core measures of which is to actively obtain local licenses. To be honest, starting from Curaçao to now covering 34 countries, the speed of 1xBet's compliance transformation has indeed exceeded many people's expectations.
From Curaçao to 34 countries: Accelerated expansion of license territory
Simon Westbury, a strategic advisor to 1xBet, told iGB that the company has been focusing more on structured regulatory participation since 2017, and the pace of license acquisition has significantly accelerated since 2020. He stated, "As more countries regulate, we inevitably need more licenses to operate. After 2020, we discovered many new markets with commercial viability." Currently, 1xBet has obtained licenses in over 34 regulated markets worldwide, with Brazil and Serbia being the latest additions. Westbury revealed that the company primarily operates in Africa, while also expanding its footprint in Latin America and Europe. In Africa, it holds about 25 licenses, including Nigeria, Ghana, Kenya, Senegal, and Cameroon; in Europe, it includes Spain and Ireland; in Latin America, Brazil and Peru. He specifically pointed out that the licenses in Spain and Ireland are among the company's proudest achievements, as the standards in these countries are extremely strict.
"Industry perception hasn't kept up with our operational pace"
Westbury partially refuted the claim that "1xBet's recent strategy represents a new direction." He believes that the company has always valued regulation, but it had not communicated sufficiently with the industry in the past. "You can only get regulated where there is regulation," he said, "The regulatory framework evolves gradually, and 1xBet has evolved in sync with it. Perhaps the industry doesn't realize how long this process has been ongoing." However, he admitted that the company has indeed intensified its focus on the growth of regulated markets to enhance long-term sustainability. "Operating within a recognized regulatory framework provides greater operational certainty and supports long-term sustainability." Considering 1xBet's history, Westbury acknowledged that industry perception might not have kept up with the operational pace, but he is working hard to change these views.
Compared to peers: Regulated markets become industry consensus
1xBet's strategy is similar to recent moves by other industry giants such as bet365 and Yolo Group. Last year, bet365 exited the Chinese market, stating that this move was part of a shift towards a strategy where "most revenue comes from regulated markets." Yolo Group also announced a major strategic shift, abandoning gray markets and believing that regulated markets provide the best opportunity for long-term corporate value. Westbury emphasized that 1xBet is not just acquiring licenses for the sake of it, but studies the commercial viability of each jurisdiction. "We only expand operations where the regulatory framework allows for sustainable business." For more global operator compliance dynamics, keep an eye on PASA official website.
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