Betsson AB
Swedish online gambling group operating sportsbook, casino, poker, bingo and gaming brands across regulated international markets.
Last updated November 2, 2026
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Overview
Betsson AB is a Swedish online gambling group whose business includes sports betting, online casino, poker, bingo and scratch-card products. The company operates through a portfolio of more than 20 brands, including Betsson, Betsafe, NordicBet, betFIRST and other regional or specialist labels. Its activities are conducted through subsidiaries and licensed operations in multiple jurisdictions, with Malta serving as an important operational base in addition to the company’s Swedish corporate headquarters. The group traces its origins to 1963, when AB Restaurang Rouletter was established by Bill Lindwall and Rolf Lundström to supply slot machines to Swedish restaurants. The business later became Cherryföretagen AB, commonly known as Cherry. During the late 1990s and early 2000s, Cherry expanded into internet gaming technology and online gambling. It acquired a minority interest in Net Entertainment in 1998 and purchased the remaining shares held by Investment AB Kinnevik in 2000. Net Entertainment subsequently developed into a separate and influential online gaming technology business. Betsson entered its present strategic direction through Cherry’s investment in the Betsson gambling business in 2003. Betsson had originally been founded by Henrik Bergquist, Anders Holmgren and Fredrik Sidfalk and held a gaming licence in the United Kingdom before later obtaining a Maltese licence. In 2006, Cherryföretagen changed its name to Betsson and reorganised its traditional gaming activities into a separate Cherry operation. The Betsson name thereafter became associated with the group’s online gaming and betting business. The company has expanded through both organic development and acquisitions. Its 2011 purchase of the Betsafe Group broadened its customer base and regional reach. In 2017, Betsson acquired selected assets of NetPlay TV, including the Jackpot247, SuperCasino and Vernons brands. It later acquired the business-to-consumer assets of Gaming Innovation Group in 2020 and the Latin American-facing Inkabet operation in 2021. The group has also taken minority investments in gaming-related businesses, including Canadian start-up Slapshot Media. Betsson’s commercial model combines proprietary or group-operated betting and gaming platforms with locally adapted brands, licences, payment arrangements and marketing partnerships. Its market emphasis has increasingly included Latin America, where it has entered or expanded in Argentina, Colombia, Peru, Chile and other markets. The company has also pursued regulated opportunities in Greece, Italy and other European jurisdictions. Sports sponsorship is a major part of its brand strategy: Betsson has supported football competitions and clubs in South America and Europe, including Copa América, Peru’s Liga 1, Boca Juniors, Racing Club, AC Milan, Inter Milan and Greek football properties. The group is listed on Nasdaq Stockholm’s Large Cap segment. Its public identity combines the Betsson flagship brand with a wider multi-brand portfolio, allowing it to address different customer segments and regulatory markets. Betsson presents itself as a regulated-market operator with an international growth strategy, a strong sports-betting orientation and a broad online casino offering. Publicly described sustainability activity includes support for the United Nations Global Compact and reporting on workplace equality and governance indicators.
History
Betsson’s corporate history begins in 1963 with the establishment of AB Restaurang Rouletter by Bill Lindwall and Rolf Lundström. The company supplied slot machines to restaurants in Sweden and later became Cherryföretagen AB, or Cherry. Cherry initially operated in traditional gaming but gradually developed interests in the emerging online-gaming sector. In 1998, Cherry acquired a minority stake in Net Entertainment, a technology company created with Investment AB Kinnevik to develop online gaming solutions. Cherry acquired Kinnevik’s remaining interest in 2000, making Kinnevik the largest shareholder of Cherry in the resulting ownership structure. Net Entertainment later became a significant independent supplier of online casino technology. A further transition occurred in 2003, when Pontus Lindwall returned to Cherry as chief executive and the company invested in Betsson. Betsson had been established by Henrik Bergquist, Anders Holmgren and Fredrik Sidfalk. At the time, the business held a gambling licence in the United Kingdom and subsequently obtained a licence in Malta. This transaction gave Cherry a stronger position in online betting and casino activity. In 2006, Cherryföretagen changed its corporate name to Betsson. Its traditional gaming operations were separated into a new Cherry group, which later shortened its name back to Cherry, while Betsson became the principal identity for the online betting and gaming business. The group subsequently developed a multi-brand structure designed to serve different national markets and customer segments. Betsson expanded materially through acquisitions. In 2011, it purchased all shares in the Betsafe Group for SEK 292 million, increasing its market presence and customer base. In the same year, it reached an agreement with a Chinese state-owned company concerning jointly owned gaming operations. In 2017, it completed a £26 million acquisition of selected NetPlay TV assets, adding Jackpot247, SuperCasino and Vernons to its European portfolio. In 2020, it acquired the business-to-consumer assets of Gaming Innovation Group. In August 2021, its subsidiary SW Nordic Limited acquired Inkabet for an initial purchase price of $25 million, with a possible $4 million performance-related incentive. Betsson also acquired a 28 percent interest in Canadian start-up Slapshot Media for $2.4 million. Leadership changed during the group’s later expansion. Ulrik Bengtsson became chief executive in March 2016, succeeding Pontus Lindwall, who remained chairman. Bengtsson left the chief executive role in September 2017, after which Lindwall again assumed the position and Patrick Svensk became chairman. In 2021, Betsson stated that Lindwall would step down once a successor had been identified, while remaining involved during the transition. From 2021 onward, Betsson emphasised regulated-market expansion and sports-led marketing. It secured Greek licences, entered or prepared to enter Mexico, launched Europebet in Eastern Europe and developed operations in Latin America. Its football sponsorships included Copa América, Peru’s Liga 1, Greek football competitions, Boca Juniors, Racing Club, AC Milan, Club Athletico Paranaense and Inter Milan. The group also used prominent former players as ambassadors in Latin America and Italy. The company’s current identity is that of an internationally active online gambling group rather than a single-product bookmaker. Its portfolio spans sportsbook, casino, poker, bingo and related gaming products, with brands and licences adapted to local regulatory requirements. Betsson remains listed on Nasdaq Stockholm and continues to present regulated-market expansion, technology, brand partnerships and geographic diversification as central elements of its strategy.
- 2024
Inter Milan primary partnership
[1]Betsson enters a four-year primary sponsorship agreement with Inter Milan.
- 2023
South American sponsorship expansion
[1]Betsson becomes main sponsor of Boca Juniors, sponsors Racing Club and takes title sponsorship of Chile’s Primera División.
- 2022
Buenos Aires market launch
[1]Betsson begins online betting in Buenos Aires through Casino Victoria.
- 2021
Greek licensing and Latin American expansion
[1]Betsson obtains Greek licences, announces Mexican expansion and deepens its Latin American presence through partnerships and sponsorships.
- 2021
Inkabet acquisition
[1]SW Nordic Limited acquires Inkabet, adding a Latin American-facing online gaming business.
- 2020
Gaming Innovation Group B2C acquisition
[1]Betsson acquires Gaming Innovation Group’s business-to-consumer assets.
- 2017
NetPlay TV asset acquisition
[1]Betsson completes its acquisition of selected NetPlay TV assets, including Jackpot247, SuperCasino and Vernons.
- 2016
Ulrik Bengtsson becomes chief executive
[1]Ulrik Bengtsson succeeds Pontus Lindwall as chief executive.
- 2011
Betsafe Group acquisition
[1]Betsson acquires all shares in Betsafe Group, strengthening its multi-brand and regional market position.
- 2006
Cherryföretagen changes its name to Betsson
[1]The online gaming group adopts the Betsson name while traditional gaming activities are reorganised into a separate Cherry operation.
Products and positioning
International, multi-brand online gambling operator focused on regulated markets, sports betting, casino entertainment and locally tailored customer propositions.
Sports betting
Betsson Sportsbook
The flagship sportsbook offers wagering on a broad range of sporting events through locally licensed Betsson operations. Sports betting is central to the group’s brand identity and sponsorship strategy, particularly in football-focused markets across Europe and Latin America. Product availability, bet types and payment methods vary according to national regulation.
Online casino
Betsson Casino
Betsson’s online casino proposition includes digitally delivered casino games offered through licensed websites and mobile channels. The casino business forms one of the group’s principal product categories and is distributed through the flagship brand and other brands in its portfolio, subject to local licensing and product restrictions.
Multi-product gaming brand
Betsafe
Betsafe is a Betsson-owned brand offering sportsbook and online gaming services in selected markets. It has operated in the Baltic states and other jurisdictions, including Ontario, Sweden and Peru. Betsson has progressively adjusted the use of the brand by market; in Lithuania, the flagship Betsson brand replaced Betsafe from the 2025–26 Lithuanian Basketball League season.
Sports betting and gaming
NordicBet
NordicBet is one of Betsson’s established regional brands, associated primarily with sports betting and online gaming for Nordic and other selected customers. It forms part of the group’s multi-brand architecture, which allows Betsson to maintain differentiated propositions while sharing corporate technology, licensing expertise and operational capabilities.
Sports betting and casino
betFIRST
betFIRST is among the regional brands operated within Betsson’s international portfolio. It provides betting and gaming services through locally adapted operations, with its availability and product range determined by the regulatory framework of each market in which it operates.
Online poker
Poker
Online poker is one of Betsson’s group-level gaming categories. Poker services have been offered through selected Betsson brands and markets alongside sportsbook, casino and bingo products. Operation is dependent on local licensing, platform arrangements and the group’s brand strategy in each jurisdiction.
Online bingo
Bingo
Online bingo is included in Betsson’s product portfolio and is offered through selected brands and regulated markets. It complements the group’s sportsbook and casino activities by addressing a separate form of digital gaming demand.
Controversies
Marketing campaigns
- 2024Inter Milan primary sponsorship
Italy · International
Betsson entered a four-year primary sponsorship agreement with Inter Milan, including prominent player-kit placement.
Outcome. Positioned Betsson as a highly visible sports-betting brand in Italy and international football.
- 2023Boca Juniors main sponsorship
Argentina · Latin America
Betsson became Boca Juniors’ main sponsor, with branding on the men’s and women’s team kits through 2024.
Outcome. Provided prominent visibility in Argentine football.
- 2022AC Milan official betting partnership
Italy · International
Betsson became an official betting partner of AC Milan.
Outcome. Strengthened the company’s association with Italian and international football.
- 2021Copa América regional sponsorship
Latin America
Betsson became a regional sponsor of the Copa América and obtained associated branding rights.
Outcome. Expanded brand visibility through a major South American football property.
- 2021Betsson Liga 1
Peru
Betsson acquired naming and sponsorship rights for Peru’s Liga 1 football competition.
Outcome. The partnership was extended for an additional four years in 2023.
Brand decisions
2021
Acquire Inkabet and invest in Slapshot MediaM&ABackground
Betsson was expanding its presence in Latin America and gaming-related technology and media businesses.
Action taken
SW Nordic Limited acquired Inkabet, while Betsson separately purchased a minority stake in Slapshot Media.
Aftermath
The transactions supported Betsson’s Latin American expansion and added a Canadian gaming investment.
Inkabet initial purchase price. $25 million, with a possible $4 million performance incentive (2021)
2017
Acquire selected NetPlay TV assetsM&ABackground
Betsson aimed to broaden its European multi-brand gaming portfolio.
Action taken
Betsson acquired assets including Jackpot247, SuperCasino and Vernons.
Aftermath
The transaction added established European gaming brands to Betsson’s portfolio.
Acquisition price. £26 million (2017)
2011
Acquire Betsafe GroupM&ABackground
Betsson sought to enlarge its market presence and support continued growth.
Action taken
The company acquired all shares in Betsafe Group.
Aftermath
Betsafe became part of Betsson’s multi-brand international portfolio.
Acquisition price. SEK 292 million (2011)
2006
Adopt the Betsson corporate identityStrategyBackground
Cherryföretagen had developed interests in online gaming while retaining traditional gaming operations.
Action taken
The company changed its name to Betsson and separated traditional gaming activities into a new Cherry group.
Aftermath
Betsson became the principal identity for the group’s online betting and gaming business.
Recent events
Betsson board member Jan Nord resigns[3]
Reported:
Betsson announced that board member Jan Nord left his position on the board of directors with immediate effect. Nord said he was prioritising other commitments.
- Unconfirmed
Betsson chairman Patrick Svensk resigns[4]
Reported:
Betsson chairman Patrick Svensk resigned from the group with immediate effect after major shareholders said they no longer had full confidence in him over his handling of CEO Pontus Lindwall's departure.
AffPapa and Betsson Group announce partnership[5]
Reported:
AffPapa announced a year-long partnership with Betsson Group. Betsson Group Affiliates said it had decided to join AffPapa's service.
Betsson completes acquisition of GiG's B2C business[6]
Reported:
Betsson Group completed its acquisition of Zecure Gaming Limited, Gaming Innovation Group's B2C subsidiary, including the assets, business activities, operations, technology and gaming licences attributable to its B2C activities. The article says the deal also opens opportunities with new brands in Croatia and Spain.
Betsson announces acquisition of GiG's B2C business[7]
Reported:
Betsson announced an agreement to acquire Gaming Innovation Group's B2C operations, including the Guts, Kaboo, Rizk and Thrills brands and associated operations and technology. The transaction was conditional on customary regulatory approvals, with completion expected in mid-April 2020.
Sources7 sources
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