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Sportingbet is a British online gambling operator, owned by Entain plc. The company was listed on the London Stock Exchange and was a constituent of the FTSE SmallCap Index prior to its acquisition by GVC holdings.
In October 2006, Sportingbet announced Paradise Poker would stop taking deposits from US customers, although most would be allowed to continue to play for another month. Additionally, Sportingbet sold all its US-facing sports betting and casino businesses, including Sportsbook.com and Sports.com, to a group of private investors for $1, and an assumption of $13.2 million in debts. Reuters: Sportingbet exits U.S. by selling out for $1
In February 2007, Sportingbet announced it was eliminating its Paradise Poker software and migrating players to its Sportingbet Poker platform. Prior to this, the two platforms had approximately the same number of players, but the Sportingbet platform had higher liquidity because that platform was part of a larger network. The brand name of Paradise Poker was retained. Reuters: Sportingbet writes off gaming software in new deal
In 2008, Netbet (Pty) Ltd, a company in South Africa, licensed the Sportingbet brand for online gambling in South Africa.
In October 2012, Sportingbet announced its board had agreed to preliminary terms for a £530 million takeover bid from UK bookmaker William Hill and Isle of Man-based GVC Holdings. Under the terms, Sportingbet's Australian and Spanish operations were bought by William Hill.
Sportingbet operates several websites. The largest of these are wholly owned and operated by Sportingbet. They also use a system similar to a franchising, in which independent website operators use Sportingbet's centralised software, financial services, trading, and customer service under license. These web sites receive a cut of the profits their customers generate.
Sportingbet operates offices and call centres in the Republic of Ireland and Costa Rica. The PLC is located in Moorgate, London.
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