Gamesys is hoping to shake up the UK market with a new sportsbook product, Virgin Bet, backed by one of the world’s best known brands, and powered by SBTech’s bespoke sportsbook technology.
The new contender to the British mix is backed by the heavy-weight Virgin brand, one of the best known logos in UK history – and followed through by the partnership’s “extensive technological capabilities”.
The product is developed by Gamesys, but the Virgin Bet sportsbook itself is powered by SBTech’s platform and features its bespoke front end interface. The Virgin brand is being used by Gamesys since it purchased Virgin Games, from the Virgin Group in 2013.
Both parties are, at the time of writing remaining fairly reticent about the details beyond. The app is only currently available through Android, with an iOS version due to be released soon.
Gamesys’ Gibraltar marketing director, Simon Mizzi, said the firm was aiming to disrupt the sector with the launch of the new product with household brand.
“We’re excited to launch Virgin Bet into the world’s most competitive sportsbook market,” said Mazzi. “We believe the Virgin brand has the ability to help change the industry for the better and we look forward to giving our customers the experience we feel they deserve.”
SBTech CEO Richard Carter added: “This is a significant announcement and achievement for the business which strengthens our UK presence. Gamesys is likely to become one of our largest customers over time and we’re delighted to be working with their management team whom we have long admired.”
The venture has also bucked an ominous trend for Gibraltar, which has seen high profile firm’s such a Bet365 announce a shift in their profit base and headquarters to Malta, to prevent being locked out of the European market after Brexit.
Mizzi said he was committed to basing operations out of Gibraltar, saying his target market, the UK, is still “the world’s most competitive sportsbook market, and we feel that Gibraltar is the perfect location for us to base our operations.”
Gibraltar’s Minister for Commerce, Albert Isola, praised the decision from Virgin Bet, assuring that “Gibraltar is a leading jurisdiction from which to operate a remote gambling business.
“A large number of existing operators, despite Brexit challenges, continue to maintain faith in the jurisdiction and this is shown by the increase in start-up businesses aimed both at the UK and non-EU international jurisdictions.”