Spelinspektionen, the Swedish Gambling Authority has recently granted the LeoVegas-owned Pixel Digital Ltd. a five-year gaming license for online casino gambling, sports betting as well as esports betting. The gaming license which went live on Tuesday, February 26 is the second license that the gaming operator has acquired in Sweden and it will, therefore, be a huge step forward for the company’s expansion plans especially with regards to esports betting.
As you may have guessed, esports betting will be a totally new vertical, one that the company is now exploring with its brand-new esports betting site, pixel.bet. Needless to say, the esports betting market has grown immensely over the past few years and this means there are so many lucrative opportunities for gaming companies and service providers to take advantage of. A five-year license for Pixel Digital Ltd.’s esports betting site is therefore definitely a great start for the company.
News of LeoVegas’ interests in venturing into the sports betting market emerged last year when the gaming operators acquired a majority stake in Pixel Holding Group Ltd., pixel.bet’s parent company. The acquisition was finalized last year with LeoVegas parting with a whopping €1.5 million to acquire the esports betting platform.
In addition to esports betting, pixel.bet will also be offering its customers casino games as well live casino offerings which are primarily aimed at Sweden and the Nordics – however, if everything goes well, the operation will definitely be extended to other international markets. Pixel.bet has plans to take the esports betting world by storm through a range of unique and innovative gaming products that will, hopefully, propel it to being the leading esports betting in the territory. With LeoVegas’ technological resources and leading brand name, pixel.bet’s ambitions are now even more likely to go as planned.
Esports Betting in Sweden
For quite a while now, Sweden has been one of the world’s biggest esports powerhouses – in fact, according to a 2016 report, when compared to other countries, Sweden has the largest population of esports players on the planet. In addition to the large number of esports gamers, the country also boasts of having the world’s biggest esports high rollers – its esports players are usually the most eager to spend lots of money on the games.
Sweden also has one of the largest and most dedicated esports audiences on the planet – a 2018 survey commissioned by PayPal and Superdata, a research firm, reveals that the country has the second biggest esports market, making it only second to Russia. That said, the widespread growth of esports in the country has opened lucrative opportunities in the esports betting sector. Thanks to suitable regulatory policies, the industry has begun to thrive and it is also growing at quite a rapid pace.
