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Betway

Betway
Company typeSubsidiary
IndustryOnline gambling
Founded2006
Headquarters
Gżira
,
Malta
Key people
Anthony Werkman (CEO)
ProductsSports betting, online casino, online poker, online bingo
ParentSuper Group (NYSE: SGHC)
Websitebetway.com

Betway is a British gambling company founded in 2006. Its product offering includes sports betting, online casino, online poker, and online bingo. Business operations are led from its headquarters in Malta, alongside satellite offices in London, Guernsey, and Cape Town.

Overview

The Betway brand holds licenses in countries including the UK, Malta, Italy, Denmark, Spain, Belgium, Germany, Sweden, Mexico, South Africa, Portugal, Ireland, Poland, France, Argentina, and the United States. It is a member of the European Sports Security Association,[1][2] the Independent Betting Adjudication Service,[3] the Remote Gambling Association,[4][5] and is accredited by international testing agency eCOGRA.[6] Betway has a partnership with the Professional Players Federation,[7] which promotes, protects and develops the collective interests of professional sportspeople in the UK.[8] It is also a supporter of the Responsible Gambling Trust.[9][10]

Alongside Spin Casino, Betway is a subsidiary of its holding company, Super Group. In January 2022, Super Group listed on the New York Stock Exchange via a SPAC, and now trades as SGHC.

Sponsorships and partnerships

Betway has sponsored many sporting organizations, events, teams and athletes, including West Ham United,[11] National Hockey League,[12] and South African Twenty20 Cricket League SA20.[13]

World record jackpot

In October 2015, Betway paid out €17,879,645 ($20,062,600; £13,209,300) to Jon Heywood (UK) for hitting the jackpot on Microgaming's Mega Moolah slot while playing at Betway. This was verified by Guinness World Records, at the time,[14] as the largest ever jackpot payout in an online slot machine, subsequently surpassed in 2019.

Regulation and compliance

Betway has been at the forefront of recent online gambling industry reforms. The company disbanded their 'VIP' department in 2019 following headlines surrounding the use of these departments to encourage high-rolling customers to continue using gambling products.

In March 2020, Betway was fined a then record £11.6m for historical failings in customer protection and anti-money laundering checks, allowing one customer to deposit over £8m and lose over £4m in a four-year period.[15]

In June 2020, Betway announced that they would be the first betting company to ban player transfer and managerial job betting in football, following high-profile cases that had linked the markets to manipulation and corruption across the industry.

In the United States, Betway is present in Virginia, Colorado, Indiana, New Jersey, Iowa, Arizona, and Pennsylvania. Users in all states can also play the free Betway Big Pick app to win money without gambling.[16]

Casino developers

Betway Casino offers games provided by developers such as NetEnt and Play'n GO.

Controversies

On 2024, Betway did not pay a price of 1.3 million Euros stating that there was a defect in their site when the client bet was correct.[17]


References

  1. ^ "ESSA (Sports Betting Integrity)". www.eu-ssa.org.
  2. ^ Ted Menmuir (6 May 2015). "Betway gains ESSA membership". SBC News.
  3. ^ "Betway confirms IBAS Registration". casinolifemagazine.com. 17 March 2015. Archived from the original on 9 October 2020. Retrieved 7 April 2015.
  4. ^ "GambleAware – Gamble Aware". www.responsiblegamblingtrust.org.uk.
  5. ^ "Members of the RGA". Archived from the original on 1 July 2015. Retrieved 10 February 2015.
  6. ^ "eCommerce and Online Gaming Regulation and Assurance – eCOGRA – Home". ecogra.org.
  7. ^ "PPF – Professional Players Federation". www.ppf.org.uk.
  8. ^ Ted Menmuir (9 June 2015). "Betway forms partnership Professional Players Federation (PPF)". SBC News.
  9. ^ "GambleAware - Gamble Aware". www.responsiblegamblingtrust.org.uk.
  10. ^ "Responsible Gambling Trust – Gambling Support – Gambling Problem". responsiblegamblingtrust.org.uk.
  11. ^ "West Ham pens principal partnership deal with Betway". 23 August 2016.
  12. ^ "NHL, Betway announce multiyear partnership".
  13. ^ "Betway SA20 Official Website".
  14. ^ "Largest jackpots payout in an online slot machine game (nominal)". Guinness World Records.
  15. ^ "Record £11.6m penalty for gambling firm Betway". BBC News. 12 March 2020.
  16. ^ "Betway, SI Sportsbook Set to Launch VA Sportsbooks by April".
  17. ^ Un juez investiga una web de apuestas por anular un premio millonario aduciendo una avería
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