Stelios Haji-Ioannou’s private investment fund, easyGroup, has reportedly announced the launch of easyBet. According to the Guardian, the billionaire entrepreneur is partnering with offshore gambling firm Matchbook, which previously had its license suspended in 2020. The peer-to-peer betting exchange is expected to operate easyBet under the United Kingdom’s Gambling Commission license (UKGC) of Triplebet Limited.
In 2020, the Gambling Commission, the regulator for the betting and gaming industry, suspended Triplebet’s gambling license for six months and imposed a £740,000 fine, citing deficiencies in player protection and anti-money laundering controls. Since then, the company has overhauled its compliance systems.
Triplebet is primarily owned by Zeljko Ranogajec, an Australian gambling magnate known as one of the world’s most successful gamblers.
easyBet launched to ‘prevent brand infringement’
In a statement, the company said: “easyBet is a strategic brand extension with its name only one letter apart from easyJet.
“The launch of easyBet.net will assure customers of a legitimate member of the easy® family and a trusted brand while preventing further brand infringement in this sector.”
The company claims that easyGroup has previously had to pursue several infringement cases that have seen “brand thieves use the ‘easy’ name in the sports betting industry.”
The tycoon also suggests that the firm is following most of the other big UK consumer-facing brands that have expanded in this sector, such as Virgin and Sky, selling scratch cards.
Haji-Ioannou added: “We are delighted to welcome easyBet.net to the ‘easy’ family of brands which is a natural new market to complement our other large consumer brands in the UK and Ireland.”
Matchbook CEO Malcolm Graham stated: “Matchbook is delighted to be partnering with the easyGroup to offer its betting exchange product. The ‘easy’ brand is renowned for consistently supplying quality and value to its customers. easyBet.net offers its customers industry-leading odds across a wide range of sports, and geographic markets, offering a top-tier user experience.”
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