Novibet

History and Founding

Novibet was founded in 2010 in Malta with the goal of building a proprietary betting platform that could differentiate itself in the competitive iGaming market. From its inception, the company focused on technological independence and customer experience, developing its own sportsbook, casino, and loyalty systems rather than relying on third-party white-label solutions.

Business Model

Novibet generates revenue primarily through player wagering on its sportsbook and casino products, taking a margin on bets (the 'house edge') and earning fees from game providers. The company operates as a B2C operator in licensed markets, handling customer acquisition, retention, and payment processing. Its proprietary platform allows rapid adaptation to local regulations and market trends, reducing reliance on external technology vendors.

Products and Platforms

Novibet's core product suite includes a Sportsbook covering over 60 sports and 1.5 million events, offering competitive odds and live betting. The Casino features more than 8,500 games from over 150 providers, including slots, table games, and live dealer experiences. The company also offers Virtual Sports and a proprietary loyalty ecosystem called Noviverse, which has won multiple industry awards (Gold for Best Use of Marketing Campaign, Silver for Best Multi-Brand Loyalty Program at the Loyalty Awards 2026). All products are powered by an in-house developed betting platform, enabling continuous innovation and customization.

Market Expansion and Partnerships

Novibet has grown from a European base (Greece, Ireland, Cyprus, Finland) into Latin America (Brazil, Mexico, Chile, Ecuador) and Oceania (New Zealand). A landmark partnership with Caesars Entertainment in 2022 granted Novibet iGaming and online sports betting market access in New Jersey, marking its entry into the United States. The company has also formed numerous sports sponsorships with teams such as Maroussi B.C., Aris FC, Santos FC, and Cruz Azul, enhancing brand visibility and community engagement.

Recent Developments and Leadership

In December 2024, Allwyn AG, a portfolio company of Emma Capital and KKCG, agreed to acquire a 51% majority stake in Novibet for about €217 million, with the transaction expected to close in the second half of 2025. The company's leadership includes CEO Georgios Athanasopoulos, CFO Thomas Granite, COO Lambros Sialmas, CMO Elena Barba, and Chief Product Officer Vasili Rappos. Novibet has also invested in AI-driven customer service through a partnership with EdgeTier and maintains a strong focus on responsible gaming.