Netbet Enterprises casinos

Netbet Enterprises Limited Information

Who are NetBet Enterprises Limited?

Everybody knows that NetBet is a big name in the iGaming world, but does the operator run a single casino website, or does it run several? That’s a difficult question to answer, but we’ve gone down the “multiple sites” route, which is why you’ll find separate entries on our website for each of the company’s numerous branded iGaming minisites.

Like so many of its peers, NetBet Enterprises Limited is based in Malta. If you’re a casino network company, it’s the perfect place to be because the island’s authorities don’t take as much money in tax from iGaming companies as the UK government does. While the NetBet brand as a whole might be better known in France than it is in the UK thanks to its multiple sponsorships of football teams in the country, it’s still a name that plenty of UK-based players will be more than familiar with – and you’ve come to the best place to find out more about the company.

An overview of NetBet Enterprises Limited

NetBet was founded in 2001, which means it was early to the internet revolution. It wasn’t the first iGaming company to set up shop after the internet opened up new frontiers for gambling, but you won’t find many big names that can boast of having more experience. Any company with more than twenty years of experience in the iGaming world is considered a veteran, so we can attach that label to NetBet. Currently, NetBet’s casinos and websites are available in eleven languages, confirming the company’s status as an international gambling brand.

While we don’t have official figures from the company, we believe from other sources that NetBet currently has around five hundred employees and enjoys around £26m per year in revenue. While we wouldn’t want to be held to those numbers, they sound about right in the context of what we know about NetBet’s size and reach. Aside from the head office in Malta, you’ll also find NetBet offices in France, the UK, Romania, and the United States of America. The presence of the American office indicates that NetBet intends to investigate the opportunities offered by the US sports betting market. That’s despite the fact that the company has semi-recently stopped offering sports betting in France.

NetBet Company History

We’ve said that NetBet has been around since 2001, but we might have been guilty of a tiny white lie in giving you that information. It’s technically correct – the company that we now know as NetBet was incorporated in Malta that year – but there’s more to the story than that. For the first five years of its existence, NetBet was dormant. It was preparing to launch and didn’t acquire its first recognised iGaming licence (which came from the Malta Gaming Authority) until 2006. Back then, the company wasn’t called NetBet.

The original name for this familiar iGaming firm was the Cosmo Gaming Company, which is the moniker it’s traded under for almost its entire existence to date. It wasn’t until March 2017 that the Cosmo Gaming Company became NetBet, and even now, the Cosmo Gaming Company still exists in a way. NetBet is presented as a Cosmo Gaming Company, although in real terms, the only reason that the Cosmo Gaming Company exists is to operate NetBet.

As large and impressive as the collection of casino games divided across the various NetBet minisites and brands is today, you wouldn’t have found quite so much to entertain you if you’d visited NetBet a few years ago. Until 2013, the operator didn’t work with many big-name providers at all. The first well-known name to come aboard was iSoftBet, which agreed to start providing sports betting and live casino services to the NetBet sites in 2013. Three years later, NetBet struck a deal with Playtech that not only brought Playtech’s massive portfolio of slots and games to NetBet but also called for Playtech to make new, exclusive games for the company’s platforms.

Bringing Playtech on board was a sign to other casino game providers that NetBet was open for business, so the brand’s ranks have swollen considerably since then. Iron Dog Studio’s entire suite of games was added to NetBet Casino in 2018, and the company has been offering both digital and real-world poker tours since 2015. As the number of NetBet minisites has increased, so too has the number of providers working with the company’s various brands. There are currently more than 1500 slots, card games and table games available in the NetBet portfolio, and they come from some of the best providers in the world. That’s not to mention the NetBet sportsbook.

NetBet and the UK Gambling Commission

NetBet wouldn’t be able to operate in the UK if it didn’t have the requisite license from the UK Gambling Commission. Its first-ever licence might have come from its native Malta, but NetBet has held a UKGC licence since December 2017. However, it hasn’t quite been able to keep that licence clean.

In 2020, the UK Gambling Commission undertook a review of NetBet’s operations. The findings of the review were announced in October of that year and didn’t make for pleasant reading for NetBet. The Commission found that between November 2018 and May 2019, NetBet hadn’t been in compliance with two conditions of its operating licence. Specifically, the company hadn’t been properly processing source of funds information for its customers and hadn’t correctly implemented its own responsible gambling policies.

As a result of these failures, NetBet paid £748,000 to the National Strategy to Reduce Gambling Harms in lieu of a formal financial penalty. The Commission noted in its report that NetBet had already addressed the failings identified during the review, and a number of changes to its processes had subsequently been made. There’s been no suggestion that NetBet has repeated any of the failings in the years since. A public statement about the investigation and its findings was published at the time and can still be found on the UK Gambling Commission website.