Kambi signs deal to relaunch mybet sportsbook in Germany

Sports Betting

Kambi signs deal to relaunch mybet sportsbook in Germany Sports betting brand to be reintroduced to German online market under new ownership and Kambi Sportsbook.

Kambi Group has today signed a deal to power the relaunch of mybet, one of Germany’s most recognisable sports betting brands now under new ownership.

Due to the recent insolvency of its previous owner, MyBet Holding SE, mybet was withdrawn from the market in the fall of 2018 following 15 years of operation, however, the mybet brand and digital assets have since been purchased by a new investment group.

Under the terms of today’s multi-year agreement, Kambi will provide Rhinoceros Operations Ltd, the new operator of mybet, with its complete Sportsbook and full range of managed services, enabling the company to relaunch the brand into the growing German online market.

The mybet relaunch is scheduled to take place during H1 2019, while the contract also provides a provision for Rhinoceros Operations to launch a Kambi Sportsbook with other brands under its ownership.

The deal is expected to have a modest positive impact on Kambi’s 2019 revenues, however, there is potential for the partnership to provide a more meaningful contribution in future years.

Kristian Nylén, Kambi Chief Executive Officer, said: “The story of mybet illustrates why operators cannot afford to rely purely on the strength of their brand and history in a market. Online sports bettors are increasingly promiscuous so operators must ensure they have sufficient scale in their product investments to provide exciting sports betting experiences at all times to remain competitive. Partnering with a high-quality supplier such as Kambi solves that challenge.

“We are excited by the potential of mybet. The brand remains strong and, with the quality the Kambi Sportsbook offers, we believe mybet can once again become a leading player in the German market and elsewhere.”

Tobias Carlsson, CEO of the Rhinoceros Group, said: “Our agreement with Kambi is one of the cornerstones on which we will build the future of a great brand. Mybet was one of the pioneers in the German sports betting field, and together with Kambi and our other partners we will do everything in our power to revive that legacy and bring players the experience they desire and deserve.”