Tonybet and Russia-based bookmaker 1xBet have both signed a trademark license agreement, which grants Tonybet exclusive permission to use 1xBet’s UK trademark.
Under the deal, Tonybet will be allowed to offer gambling products in Great Britain through 1xBet’s name and imagery, but using its own license. Tonybet has already registered the 1xbet.uk domain with the Gambling Commission.
1xBet used to operate on a white label agreement through FSB Technolog’s license. But it was reported by the UK newspaper the Sunday Times in August last year that the bookmaker promoted its brand on prohibited sites.
Due to this investigation, 1xBet’s UK-based site was taken offline and the Gambling Commission started a review of FSB’s license which led to a £634,000 settlement. 1xBet explained that at that time it was working towards securing a full gambling license for the market. A spokesperson said that the operator had decided that Britain was not a “key market.”
“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,” the spokesperson said. “We are pleased with the deal and believe it was the right decision to sell the 1xBet UK brand to TonyBet who is locally regulated and can benefit from the owning and operating of the UK trademark of a truly global gaming group.”
Although the 1xBet brand name will be making a comeback to the British market, TonyBet will be completely responsible for all activities under its name.
“We are pleased to have concluded a deal to acquire the UK trademark of one of the fastest growing gaming companies in the world,” A spokesperson from TonyBet said. “We hope to in the future 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,” he added.