- US Online Poker
- US Online Casinos
- US Online Sports Betting
The Betway brand may be all over European soccer jerseys, but its visibility in the US is considerably lower.
Even so, the owners of the online casino and sportsbook brand say its revenue picture tells a different story. Its net gaming revenue (NGR) in the Americas is more than twice what it’s currently making in Europe. That’s one of the reasons Betway’s owners are planning to expand the brand’s operations in the US and Canada even further very soon.
Super Group Holding Company (SGHC) – which owns both Betway and a smaller online casino operator called Spin – credited the Americas with 48% of its $1.1 billion NGR for 2020. By contrast, Europe accounted for only 22%.
Drilling further down into that September 2021 investor presentation, Guernsey-based SGHC talks about what it will be able to do following its pending US IPO. It says:
A public listing establishes a US equity currency that will help facilitate additional growth opportunities:
- Ability to use our public currency to execute on our acquisition strategy
- Acquire companies with high value technology
- Acquire B2C online casino and sports betting companies in key regional markets
Betway’s media team didn’t respond to repeated requests from Online Poker Report to comment on this story.
On Sept. 9, SGHC filed a registration statement with the US Securities and Exchange Commission about its intent for a public offering. To go public in the US, the company valued at $4.75 billion is merging with the Delaware-based Sports Entertainment Acquisition Corp. (SEAC), a newly created blank check company or special purpose acquisition company (SPAC).
SGHC’s investor presentation says the IPO will be “funded by $450 million of cash currently held in trust, and $300 million from Super Group’s balance sheet.”
The Malta-based global online casino and sportsbook brand already offers Betway Casino in New Jersey and Pennsylvania.
Betway already had US online sportsbooks live in:
Betway Sports intends to launch in Arizona by February 2022, according to the investor report.
Then Betway has market access agreements in five more states, where it still requires regulatory approval:
So Betway has market access agreements in 11 states, but SGHC doesn’t plan to stop there.
The SGHC investor presentation mentions that the group “plans to operate across North America,” pending state and provincial approval.
In the US, here’s how the company forecasts it will start to do that:
“Super Group has executed a binding, definitive agreement to acquire US-based Digital Gaming Corporation (“DGC”), subject to regulatory approvals and other customary closing conditions; DGC is already licensed in multiple US states and is applying for licenses in others.”
Primarily, of course, DGC has US online gambling market access agreements to offer Betway. However, the company also has online game creation chops.
Florida-based DGC provides operators with “fully immersive gaming experiences,” such as online slots for BetMGM and online games for DraftKings Casino.
With BetMGM, DGC provided content for BetMGM Casino, Borgata Casino and PartyCasino, according to SBC Americas.
However, even though the game publisher Dun and Bradstreet describes as a 34-employee-strong company with $3.3 million in sales is mainly known for iGaming content, the company makes clear that online sports are also in its wheelhouse:
On its site, DGC said:
“Under the Betway brand, DGC will offer world-class pre-match and in-play sports betting across all major US and European sports leagues (as approved, per each US state’s betting catalog), using some of the most established and secure sports betting software and leading products available. … In the states where iGaming is permissible, DGC Betway will ensure a thrilling gaming experience by offering play on the best casino games available via a user-friendly platform and casino portal.”
SGHC says it believes it compares favorably with larger US online gambling operators. In particular, it points proudly at the fact that it’s debt-free.
In its investor presentation, SGHC compared itself to these major competitors:
OPR’s sister site Play USA asked John Collins, an SGHC board member, to “lay out the vision for Betway in the US.”
Play USA’s Brant James interviewed Collins in July 2021:
BJ: Who do you consider your main competition?
JC: I think the only one from a capital market standpoint that we looked at, or that we’ve discussed, investors have discussed with us, is Flutter. But they’re different because they built their business through, really, M&A. So they don’t have the Betway global brand. They’ll be FanDuel in the US, and will be Paddy Power over in Ireland.
As for the North American version of the ubiquitous European soccer jersey? Betway became the official sports betting partner of the NHL in May 2021.
SGHC CEO Neal Menashe said in May:
“Tens of millions of viewers will see the Betway logo on the ice for these prestigious games as we make ourselves known to a new audience in the US and beyond.”