An online company famous in the United Kingdom for discussing the benefits of gambling sites all over the UK has completed the purchase of bookies.com. The company is hoping with the purchase it will continue to expand its footprint from the UK to the United States and other countries.
The beginnings of Gambling.com
Gambling.com began as a blog by a gambler. He wanted to give reviews of gaming sites in the United Kingdom because in the early 2000s, gambling online was just getting started. The blogger believed that some gaming sites were more consumer-friendly than others were, and wanted to rate them. For example, some gambling sites had odds that did not allow gamblers an opportunity to win. Other sites were slow to pay off wins for gamers. The rating system and reviews created by gambling.com allowed gamers who loved to gamble online to find reviews and get ratings on casinos before they placed bets.
It made sense that gambling.com would want to purchase bookies.com. Bookies.com has been operating as ratings and review site for sportsbooks, not only in the United Kingdom, but also across the pond in the US. While sports betting has only recently become legal in the United States, bookies.com has had a reputation for rating offshore sportsbooks for American and British customers. Many people who live in the US and the UK like to bet on sports in different areas of the world, so bookies.com has found a small niche market with their ratings and review system. While it is not as well known as gambling.com, it had become a trusted resource for gamblers.
Gambling.com purchased all of bookies.com’s websites and website domains. While most of those domains are undeveloped, and most are in the UK, gambling.com is looking to expand. Bookies.com, with its foothold in the UK and US markets, means that gambling.com can look to grow its business and expand further into the United States. The US market in sportsbetting is poised to explode in the coming decade. Experts believe that the market will triple by 2020—with up to 20 states adopting sports betting now that it is legal. Gambling.com has made a big bet on the sports gambling market.
In total, the purchase means that 76 domains managed by bookies.com are now the property of gambling.com. Bookies.com had sales revenues of over a million dollars during the last quarter. Because it is internet-based, there is very little overhead, and gambling.com stated that 80 percent of the pre-tax income is profit for the newly acquired purchase.
To buy the rights to bookies.com, gambling.com had to pay $2.5 million up front, with $6 million payable within the next calendar. While the money represents the largest acquisition to date by gambling.com, the company believes it will pay off in the long run. Gambling.com had previously focused only on online casinos, which limited its market share. The hope now is that the company can continue to expand into other markets. While sports betting will be a major focus of gambling.com going forward, it will not be the only focus. The company is also hoping to expand their reviews of online casinos around the world, as the economy is increasingly becoming more globalized. The timing of the acquisition could not be more perfect, given the brouhaha with Brexit, and the need for the UK to develop partnerships around the globe.
Gambling.com is also hoping to continue to expand its offerings of world-class gambling reviews as well as website ratings. Its client base relies on the rating system to figure out which casino is right for them. The company is hoping that a new clientele will feel the same way about its sportsbook venture.