BetGoodwin, an online sports betting and casino operator, is seeking a potential listing on the London stock market, even as industry peers raise concerns over impending tax hikes expected in the upcoming budget.

Sources close to the situation indicate that Julian Head, the company’s CEO, alongside his son Ben, the COO, are collaborating with investment bankers on an initial public offering (IPO) that could position the company’s value at approximately £80 million.

While the prospect of a flotation is being explored, insiders caution that its execution remains uncertain and the timeline is yet to be established. Founded in 1997 under the name Goodwin Racing, BetGoodwin began its journey as a traditional high-street bookmaker before being acquired by the family.

Since then, they have developed a phone-betting operation and an online platform that offers both sports and casino betting services.

Reports suggest that Allenby Capital has been brought on board to assist with the potential IPO. Having shuttered its only retail outlet post-pandemic, BetGoodwin is confident that its capital-light operating model provides substantial cost efficiencies compared to its larger competitors.