EasyGroup, the parent company of easyJet, has made a foray into the UK online sports betting market through a joint venture with Triplebet. This collaboration, known as EasyBet, is co-owned by Matchbook and Easy Group, and offers sports betting options including popular markets like the US presidential elections. The move was described by easyJet founder Stelios Haji-Ioannou as a natural extension of their consumer brands.
The joint venture between EasyGroup and Triplebet was revealed in an exclusive report by the Guardian, highlighting the involvement of Stelios Haji-Ioannou and Triplebet owner Zeljko Ranogajec. Stelios views the EasyBet launch as a defensive strategy to protect the company branding from other betting sites using similar names. This move follows legal action taken by EasyGroup against a band named Easy Life, which resulted in the band changing their name to Hard Life.
Despite concerns about Triplebet’s reputation, particularly after the UK Gambling Commission suspended their license in 2020, the partnership with Easy Group moves forward. Ranogajec, known as a successful gambler with nicknames like The Joker and The Loch Ness Monster, has faced scrutiny for failings in player protection and anti-money laundering controls. However, Triplebet’s subsidiary Matchbook, which is licensed in the UK, will be the entity operating under the EasyBet brand.
The decision for Easy Group to enter the sports betting market with an offshore partner may seem unconventional, but it falls within UK regulations as long as the offshore firm has a licensed subsidiary in the country. Similar arrangements have been made by other major brands like Virgin, Sky, and The Sun, where the offshore firm pays a license fee to operate under the established brand name.
Stelios Haji-Ioannou remains a shareholder in Easy Group and continues to expand the Easy brand through various ventures. While easyJet remains the most successful venture under the Easy label, the move into online sports betting represents a strategic diversification for the company. The partnership with Triplebet, despite past regulatory issues, demonstrates a willingness to explore new markets and opportunities for growth.
In conclusion, Easy Group’s entry into the UK online sports betting market through the EasyBet joint venture with Triplebet showcases a bold move to expand their brand presence. While challenges and concerns exist regarding the reputation of their offshore partner, the collaboration highlights a strategic approach to diversification and brand protection in the competitive online gambling industry. Only time will tell how this partnership unfolds and whether it proves to be a successful venture for both parties involved.