Olybet

History

OlyBet began in early 2010 as Olympic-Online, the digital arm of Olympic Entertainment Group (OEG), a company founded in 1993 by Sander Andreas Pall. The brand rebranded to OlyBet to align with a modern, sport-focused identity. In 2018, OEG was acquired by Luxembourg-based holding Novalpina via subsidiary Odyssey Europe AS, leading to a strategic restructuring and the appointment of Corey Plummer as CEO.

Business Model

OlyBet operates a B2C multi-vertical gambling platform. Revenue is generated from player wagering across sports betting, casino games, poker, and eSports. The brand also earns from its land-based venues, including Olympic Casinos and OlyBet Sport Bars, and sells its proprietary energy drink. An affiliate programme, OEG Partners, is managed via Income Access.

Products and Platforms

OlyBet Sports offers pre-match and in-play betting on major sports and eSports, with live streaming and cash-out. OlyBet Casino features thousands of slots, table games, and live dealer tables from Microgaming, Playtech, NetEnt, BetConstruct, and iForium. OlyBet Poker is integrated with the GGNetwork, offering cash games and tournaments, and hosts live events like the OlyBet Showdown and Kings of Tallinn. Land-based operations include Olympic Casino (114 venues as of 2019), OlyBet Sport Bars, and the OlyBet Bar & Grill concept. Free-to-play games and a VIP programme complete the offering.

Market Position

OlyBet is a dominant player in the Baltic region and has expanded into Southern Europe (Spain, Croatia). It faces competition from global operators such as Bet365, Unibet, and Pinnacle. Its differentiation lies in its vertically integrated land-based and online ecosystem and strong local brand recognition. The brand is privately held within Odyssey Europe AS, limiting public financial disclosure.

Licensing and Regulation

OlyBet is licensed by the Estonian Tax and Customs Board (licences HKL000510, HKL000340, HKT000050, HKT000049). It operates in Estonia, Latvia, Lithuania, Croatia, Spain, and France. The company emphasizes responsible gambling with deposit limits, self-exclusion tools, and a non-profit foundation, Fundación OlyBet, in Spain.

Recent Developments

In 2026, OlyBet continues to host major poker events such as the Kings of Tallinn and the OlyBet Showdown in Vilnius. The brand also renewed its partnership with Leon Bet as an official international partner. The leadership team, under CEO Corey Plummer, focuses on technology integration and expanding the brand's reach across Europe.