In late 2023, Cypriot media reported a significant shift in the ownership structure of 1xBet's operations in Kazakhstan. The regional franchise, formerly owned by EA Group Holding Ltd, was acquired by an undisclosed buyer. Details of the transaction remain confidential, with both 1xBet and EA Group citing commercial confidentiality.
A representative from EA Group Holding Ltd stated, "We have decided to divest this business as part of our regular portfolio review. The company continues its activities in other, more prioritized directions." The statement suggests EA Group has exited the betting industry.
Currently, the 1xBet brand in Kazakhstan is operated by RealBet LLP, a company licensed by the Ministry of Tourism and Sports of the Republic of Kazakhstan. The ministry has affirmed the legality of RealBet's activities, noting that the company operates in full compliance with national legislation.
Founded in 2007 and headquartered in Cyprus, 1xBet has expanded its presence to over 50 countries, offering a wide range of betting options and casino games. The company has established itself as a prominent player in the global iGaming industry, particularly in emerging markets where online gambling is experiencing rapid growth. Notably, 1xBet has secured high-profile sponsorships, including partnerships with FC Barcelona and Paris Saint-Germain, and serves as the exclusive global betting partner for FIBA through December 2027.
The global online sports betting market is projected to reach $83.58 billion by 2029, growing at a CAGR of 11.65% from 2024. This growth is driven by increasing internet penetration, the proliferation of smartphones, and the legalization of sports betting in various jurisdictions, including parts of the United States and Australia.
Emerging markets, such as those in Asia and Africa, are becoming increasingly important for the iGaming industry. These regions offer significant growth opportunities due to their large populations and increasing internet accessibility.
As the global iGaming landscape continues to evolve, operators like 1xBet are adapting their strategies to navigate complex regulatory environments and capitalize on growth opportunities in both established and emerging markets.
