GiG powers Betway launch in Portugal

Gaming Innovation Group (GiG) has powered the launch of Betway’s new online sportsbook platform in Portugal.

Launched under the domain of Betway.pt, GiG secures its second Portuguese market partnership, following its debut as the principal iGaming platform supplier of the Spanish incumbent, GoldenPark.

Betway underscored the significance of its debut in Portugal as a key target market, which recorded online revenues of €658.6m in 2022, an “increase of over 30% YoY across the 28 license holders, 12 for sports betting and 16 for iGaming,” according to data supplied by the regulator, Serviço de Regulação e Inspeção de Jogos (SRIJ).

Anthony Werkman, CEO of Betway, said, “As part of our ambitious growth strategy for Portugal in 2024, 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. This agreement will also allow our teams to work in synergy to reach our shared goals and aspirations within the country.”

The partnership sees GiG secure its first deal under the new stewardship of former SBTech and DraftKings executives, CEO Richard Carter and CBO Andrew Cochrane.

As agreed last year, GiG will initiate its business reorganisation, in which the company will split into two separate businesses focused on platform solutions and media services led by Richard Carter and Jonas Warrer, respectively.

Andrew Cochrane, Chief Business Officer at GiG, said: “I’m proud of the close partnership we’ve developed with Betway, and the product that we’ve helped build with the team for the Portuguese regulated market. Betway is a leading tier 1 operator, and this launch helps affirm our growing position as a market leader in the B2B industry.

“This is a very exciting time to be part of GiG, as we continue to invest in our product and technology capabilities to underpin further Tier 1 client wins and provide existing clients with ever more compelling product features.”