All About the Net Worth and Owner of 1xBet

1xBet is a veteran of the gambling industry and a franchise with a worldwide reputation. In Nigeria, the company ranks among the top online platforms to wager on sports and casino. 

The Internet abounds in walk-throughs of the bookmaker, mostly its look and feel, but that’s not the only thing punters wonder about. The origins and financial matters are also of great interest. 

This article’ll satisfy your curiosity about the founder, owner, net worth, and other corporeal things regarding the company.

Introduction to 1xBet in Nigeria

Every Nigerian bettor knows 1xBet. This is a top platform that offers the highest level of service. Users can access all imaginable functions, which you can read in more detail in the 1xBet in Nigeria review. 

During registration, the user can choose one of several options, picking the most convenient one. The benefits don’t end there, as you can receive a tremendous welcome bonus right after you sign up. By the way, the bonus program is not limited to the first deposit. Moreover, in the promo code store, you can buy a bonus.

Another advantage is the availability of a variety of payment methods, including cryptocurrency transactions. From a technical point of view, betting on the platform is very convenient as it integrates a variety of functions, constantly improving the service. Thus, today 1xBet is a bookmaker with the widest range and set of options.

1xBet Basics: Overview of the Company and Its Success

The business in question is famous not only for the prevalence of its betting products but also for its investment in the global sports movement. 

The bookmaker resounds with its partnerships and sponsorships with renowned soccer clubs and other sports and cybersports organizations.

But before we get into the details, let’s take a step back to see how it all began.

History and Background of 1xBet in Nigeria

The business with Russian roots and Cyprus registration was established in 2007. The firm grew in markets with each year, spreading throughout every continent, Africa included.

Over time, to better serve the demands of various punters, the sportsbook added online slots, virtuals, bingo, lotteries, TV games, and special bets to myriads of sporting events.

Collaborations with sports clubs and teams became a key component of the company’s activity. The partner list comprises:

• Liverpool FC
• FC Barcelona
• Chelsea FC
• African Confederation of Football
• Paris Saint-Germain
• Tundra Esports
• Professional Fighters League

In 2018, 1xBet launched its cooperation with the Nigerian Football Federation, and shortly after, it took over the region after obtaining a license from the local authorities.

Owners and Key Figures of 1xBet

As mentioned above, the bookie originated in Russia, and this gambling giant has more than one founder. The company was created in 2007 by Roman Semiokhin, Sergey Karshkov, and Dmitry Kazorin. 

The firm’s key figures include Alexandr Thikonov and Evgeniy Kiriushin, the Head of Business Development. 

Who Owns 1xBet?

According to the brand creators, the business doesn’t have one head or owner. There is a specific CEO and entity that owns the franchise in each particular country.

Beaufortbet Nigeria Limited, with the CEO Dr. Oluwafemi Babalola, owns and runs the betting platform in the region.

The franchise works in the country under a license granted by the National Lottery Regulatory Commission.  

Headquarters and Operations of 1xBet

The international bookmaking business owns dozens of offices and employs thousands of staff across the globe. It’s headquartered in Limassol, Cyprus.

Location of 1xBet Headquarters in Nigeria

The online sportsbook operates all over Africa, with headquarters in many different localities.

The company’s office in Nigeria is based in Abuja, the state’s capital.

Global Presence and Expansion Strategies

India was one of the first markets the brand conquered, and there were countless more to follow. 1xBet is now omnipresent, providing online gambling services to 134 nations.

Well-calibrated strategies always accompany the bookmaker’s expansion. Thus, the bookie connects with domestic regulatory bodies, payment processors, sports leagues, and other organizations to localize and promote its services in a new area. 

For instance, when entering Chile, the firm partnered with the Chilean football championship and the regional payment system PayRetailers to adapt the platform for the local players. 

Net Worth of 1xBet: Company Valuation

Without conducting a thorough financial study, it is evident that a company of 1xBet’s size has a substantial revenue stream. The business has success on a global scale and holds top positions in a number of geographic areas.

Factors Affecting 1xBet Net Worth

It’s common knowledge that bookmakers earn profits through margins built into the odds. However, there are plenty of sportsbooks, and the rivalry is fierce, so 1xBet engages in extensive operations to stay afloat and boost its net worth.

The bulk of such activities belongs to advertising and marketing campaigns. The brand boasts contracts with prominent football clubs, cybersports teams, and other organizations. And the bookie ads are literally everywhere.   

Still, it’s vital not only to attract clients but also to retain them. The bookmaking pro uses all possible means, including improved customer service, promos and bonuses, and the latest technology.

Estimates and Reports on 1xBet Net Worth

The company’s financial health details do not lie in the public domain, but estimates put the total income at $2 billion.

Success and Achievements of 1xBet in Nigeria

Upon walking into the country’s market, the bookmaking firm quickly integrated into the local gambling scene.

Knowing the love of football among Nigerians, the business made an efficient strategic move by partnering with regional and continental soccer federations and tournaments.

Market Position and Competitive Advantages

The company is successfully achieving its ambitious goals in Nigeria. It is currently at the forefront of the national market, with multiple site visits and app downloads.

From the very beginning, the franchise owner advocated legality, transparency, and responsible gaming. Sticking to these principles makes the platform popular among punters. Other competitive advantages enlist:

• a vast selection of sports matches;
• an array of slots and other games;
• multiple bet types and great odds;
• lots of special offers and incentives;
• payment systems to suit every taste;
• iOS, Android, and Windows apps;
• round-the-clock customer support. 

1xBet’s Impact on the Nigerian Gambling Industry

The bookmaker belongs to international gambling heavyweights, and as soon as it entered the country, it raised the bar for quality betting services.

By forcing competition, the bookie created a positive environment for both punters and other gaming platforms. The former got access to a wider choice of offerings and favorable conditions. The latter began to grow their business, focusing on quality and innovation.

The 2023 sportsbook title winner at the SiGMA Americas Awards, 1xBet is taking the Nigerian gambling sector to the next level, bringing it up to the highest global standards.

Wrapping Up

The bookmaking company just celebrated its 16th anniversary. At this mature age, it can pride itself in impressive achievements and the solid investment it made in gaming.

The brand is going strong, has excellent financials, and continues its expansion by opening office after office. 

Gamblers all around the world bet on sports and play casino games using 1xBet products. Fortunately, Nigerian bettors have this option too.