1xBet’s UK trademark acquired by TonyBet

2 July 2020

1xBet Group, a leading international gaming and B2B and B2C bookmaking business, has signed a Trademark License Agreement with TonyBet, an international online gaming group licensed by the UK Gambling Commission. The agreement sees TonyBet, an independent operator, acquire the 1xBet UK trademark from the 1xBet Group, granting it exclusive rights to operate the trademark in the UK.

The acquisition will enable TonyBet to develop fully UK Gambling Commission-compliant products and services for its 1xBet UK trademark in the future. As part of this agreement the 1xBet Group will not be operating in the UK and it will not offer its products and services to UK customers.

In addition to the sale of its UK trademark to TonyBet, 1xBet Group has also announced the strengthening of its internal monitoring systems and customer protections. The company has dedicated significant additional resources to ensure it responds to industry-wide challenges, which includes the unauthorised use of gambling companies’ brands on websites which feature banned or inappropriate content, such as illegal streaming of movies and sports. This includes revising its terms with third party affiliate partners to ensure more stringent guidelines when promoting 1xBet’s brand online. In the event the company’s brand does feature on sites which feature inappropriate material, the company will not hesitate to take all steps necessary to ensure its removal, including through legal action.

Commenting on the agreement, a TonyBet spokesperson said: “We are pleased to have concluded a deal to acquire the UK trademark of one of the fastest-growing gaming companies in the world. In the future we hope to roll out products and services under the 1xBet UK trademark in line with the relevant UK regulations and we are excited about the opportunities this gives our business.”

Commenting on the agreement with TonyBet, a 1xBet Group spokesperson said: “While we have ambitious plans to continue our international expansion, the UK is not a key market for the group at this point in time. We are pleased with the deal and believe it was the right decision to sell the 1xBet UK brand to TonyBet, which is locally regulated and can benefit from the owning and operating of the UK trademark of a truly globally gaming group.”

 

About 1xBet Group
Founded in 2007, 1xBet is a fast-growing, award-winning international gaming company, offering its products and services in more than 50 countries in both the B2B and B2C sectors. The company is headquartered in Cyprus and employs over 5,000 staff in offices across 20 other jurisdictions. It abides by all the rules and regulations of every country where it operates.