DAZN Bet will operate under the Daznbet.de domain, through a Malta-registered company.
Alongside DAZN Bet, several other online sports betting platforms have recently secured licenses in Germany, including 888Sport.de, Tiptorro.de by Torro Tec, Chillybets.de by Chilling Cheetah, mybet.de by RULEO Alpenland, and Winamax.de.
From streaming to betting
DAZN Bet is owned by sports media streaming service DAZN, which offers sports content to fans in more than 200 countries and territories across the globe.
DAZN’s sports steaming service launched in Germany in 2016.
The business has been keenly interested in the sports betting sector for some time, especially since the appointment of former Entain CEO Shay Segev (pictured) as the sole CEO of DAZN Group in January 2022.
Segev initially joined the company as co-CEO in June 2021.In April, Sandeep Tiku, who had previously worked together with Segev at Entain, joined DAZN as CTO.
During the same month, DAZN revealed its intentions to launch its inaugural sportsbook in collaboration with industry supplier Pragmatic Group.
Additionally, the firm brought in Mark Kemp, the former CEO of BoyleSports, to lead the company’s betting strategy as CEO of DAZN Bet.
A growing trend
For years, analysts have pointed to betting as the upcoming arena for rivalry among sports streaming service providers, and the level of competition is set to intensify.
The achievements and prominence of Sky Bet in the UK, for example, have certainly caught the attention of observers in the United States.
Earlier this month, Disney-owned ESPN disclosed a substantial $2bn agreement with US operator Penn Entertainment. This partnership will result in the launch of ESPN Bet this autumn.
While DAZN Bet’s foray into the German market and its strategic initiatives show promise, future success is not guaranteed.
Past efforts, such as Fox Bet’s short-lived endeavour, show that even well-established players can face setbacks.
As the industry continues to evolve, DAZN Bet, along with other entrants, will need to navigate a complex terrain to secure a lasting position in this rapidly changing arena.