Partnership enables global sports media brand to create new-look sportsbook using Kambi’s sports betting product suite.
LiveScore Bet, the new online sportsbook from LiveScore Group has now officially launched in the UK and Ireland. The sportsbook has been created in partnership with sports betting solutions provider Kambi Group.
The roll out comes following last October’s news of the formation of a new partnership between LiveScore and Kambi. The deal enabled the global sports media brand to create a new-look sportsbook using Kambi’s sports betting product suite, which includes a sports betting platform, managed services, AI-powered trading and Kambi’s award winning Bet Builder.
We can now expect to see LiveScore’s in-house teams start to put Kambi’s open APIs to full use. The software provider’s incentive tools and bespoke bet offer specials will power special features available through the new sportsbook.
“This launch is a significant milestone in our partnership with LiveScore Bet. Kambi is committed to delivering a flexible sportsbook product that can be customised to meet the specific needs of each operator in their respective target markets,” Erik Lögdberg, managing director of Kambi, said announcing the launch of the new sportsbook on X.
“The UK and Ireland are both highly competitive, but by leveraging the combined strengths and expertise of LiveScore Bet and Kambi technology, LiveScore Bet is uniquely positioned to create a one-of-a-kind sportsbook offering.”
A pivotal partnership for Kambi
Kambi has already said that this will be a pivotal partnership for the technology provider. It comes following the announcement of mixed financial results at the close of Q1.
Kambi’s Q1 report revealed a drop in revenue to €43.2 (Q1 2023: 44.0) million for the first quarter of 2024, with operating profit (EBIT) of €4.4 (4.5) million, at a margin of 10.2% (10.3%). The company announced pre-tax profit of €4.4m, similar to that of last year. Net profit was slightly lower than in Q1 2023.
Kristian Nylén, CEO and co-founder of Kambi, stated that he was “not satisfied” with the company’s financial performance at the end of 2023. Nylén released a more optimistic statement following the Q1 results, however, highlighting the importance of the new LiveScore partnership for the Kambi.
“A key highlight of the quarter was the launch of LiveScore Group’s new Kambi-powered sportsbook in Nigeria, followed swiftly by a launch in the Netherlands,” Nylén said.
“LiveScore was a pivotal signing for Kambi in 2023 and these launches mark crucial milestones toward our long-term objectives. We look forward to additional launches in the near future, including in its core UK market, ahead of a busy summer of sports with Euro 2024 and Copa América both set to commence in June.”
Hints at further expansion for LiveScore Bet
LiveScore Bet is an established brand in markets like Nigeria, the Netherlands, Malta and Gibraltar – and LiveScore has been clear about its intention to establish a presence in a multitude of new markets in the near future.
Last October’s deal paved the way for expansion into a number of new markets, and with rumours circulating on further expansion plans the latest announcement could well be the tip of the iceberg for the company.
The LiveScore brand has a solid history. Founded in 1998, the global company already has audiences in 200 territories across the world, where it provides everything from real-time sports updates and results, to sports media. It has an estimated 50 million daily users, and reported revenue of £129.6m in 2023.
LiveScore Bet’s expansion into the UK and Ireland is perfectly timed to capitalise on the Euros and Copa América. It’s a strategic move which will see the company enter what is already a hugely competitive market for UK sports betting – but the future looks bright for LiveScore.