LeoVegas have arguably been one of the most exciting brands to hit the online gambling scene over the last few years. The company started life as a casino and hit almost instant success. They have now integrated a sports betting section to accompany the success of the casino in an expansion that many are looking at as a massive positive.
The company were started in Sweden but now reside in Malta and are licensed by both the UK Gambling Commission and the Malta Gaming Authority. What’s been interesting to see from the sports betting side of the business is that they have teamed up with the Kambi Group to help them offer the best possible features for within the bookmaker. You’re likely going to be unfamiliar with said Kambi Group, but these are the masterminds behind bookmakers such as Unibet, 32 Red Sports and 888Sport, so it stands LeoVegas in some highly esteemed company indeed.
Whilst the sports betting side of LeoVegas is still very new, it’s worth noting that the company have won several awards for their work within the casino industry, such as Best Innovation at the EGR Awards 2013, Mobile Casino Product of the Year 2014 and EGR’s Slots Operator of the Years 2015.
Sign Up Offers
Up to £100 Extra Winnings
New customers can get double winnings on their first bet with Leovegas up to a maximum stake of £10 and a maximum extra winnings of £100. For example, if you bet £10 at 3/1 and it wins, you would normally receive £30 (£10 stake + £30 profit). With the profit boost you would receive £70 (£10 stake + £30 profit + £30 profit boost).
The sportsbook is quite a minimalistic affair, which allows you to easily jump between sports and markets that tickle your fancy. We will say right away that if you are looking for the depth of the bigger bookies then you will be disappointed. Whilst the LeoVegas isn’t short of betting markets or even sports to bet on, it does lack a little when it comes to depth.
The site includes a really good live betting section, which is predominantly made up of football markets to be fair. But, market coverage is huge for the higher profile matches, especially within the Premier League with a base of over 300 to bet on in-play, actually surpassing that of many of their higher-profile rivals.
With LeoVegas, you can make deposits via Visa Debit, Visa Electron, Mastercard, PayPal, ApplePay and by a bank transfer.
- Minimum Deposit – The minimum withdrawal is £10
- Minimum Withdrawal – You may withdraw any amount that you wish but if this is below £10 you will need to contact customer services to process this manully
- Withdrawal Time – This can take up to 5 days depending on the method of withdrawal
- Fees – LeoVegas don’t state any charges however fees may be applied by your bank
Licence & Contact
- Licence Details – UK Gambling Commission 39198
- Company Name – LeoVegas Gaming PLC
- Registered Company Address – Level 7, Plaza Commercial Center, Bisazza Street, Sliema, SLM 1640, Malta
Some betting companies are giants, they are behemoths that have soaked up much smaller sites on their journey to becoming what they are in the modern age. Others, meanwhile, tend to boast a much smaller profile and aren’t quite so prolific and all-conquering. It is probably fair to say that LeoVegas fits into this latter group, being a small site that competes with the big boys by offering a big punch. Launched in 2012 by Gustaf Hagman and Robin Ramm-Ericson, LeVegas has long had mobile gaming at the forefront of what the company offers.
In fact, the entire logic behind launching LeoVegas was that there weren’t a huge amount of companies looking to capitalise on the burgeoning world of mobile technology. LeoVegas moved to do exactly that, with many other companies following suit once they saw the promise offered by the newly-emerging world of smartphones. Over the years that followed, LeoVegas grew to become a global business, boasting multiple brands that all look to employ hundreds of people. It isn’t just a website, it is a GameTech company that promises a wealth of different options in terms of what people can experience.
The Early Days
It is easy to forget now, thanks largely to the ubiquitousness of the iPhone, but Apple didn’t launch their flagship smartphone until June of 2007. Even then, it would be untrue to suggest that the device completely took over the market at the time, with BlackBerry remaining one of the most popular handsets for many years. There was a scepticism from many about the idea of using a smartphone to carry out many daily activities, with concerns about safety high on the list of reasons why iPhones didn’t take over the world at launch in the way that they went on to do.
As the smartphone began to develop, however, with Android also moving into the market, it became clear that there was a gap to be filled in terms of punters using smartphones to place bets and play casino games. It was in this environment that Gustaf Hagman and Robin Ramm-Ericson created LeoVegas, taking on the roles of Chief Executive Officer and Chairman of the Board and Managing Director respectively. Despite the name suggesting ties to the United States of America, LeoVegas was actually founded in the Swedish capital city of Stockholm.
The mindset of Hagman and Ramm-Ericson was that they should employ a ‘mobile first’ ethos for the company from the outset. This happened to coincide with the ever-growing popularity of the smartphone, meaning that the company that they had created in order to allow people to place bets on their phones grew exponentially. In the years that followed, all concerned with LeoVegas worked hard to ensure that the company was able to grow and grow, leading to the point that it was able to be floated on the Stockholm Stock Exchange for the first time on the 17th of March 2016.
The headquarters of LeoVegas was in Stockholm, whilst the operations and marketing for the company took place in Malta. This also allowed the company to gain a gambling licence from the Maltese gaming authority, opening up its services to wider parts of Europe. The company employed some heavy hitters for that initial stock exchange launch, with Carnegie Investment Bank and SEB operating as financial advisers. The stock was heavily over-subscribed at the launch, seeing the company valued at the equivalent of around £24 million.
A month before the UEFA Euro 2016 tournament was due to get underway, LeoVegas launched LeoVegas Sport, its sportsbook that would be taking bets on the competition. The aim was to ensure a top-class In-Play betting market, which would be facilitated by fast-loading speeds of the website. A few months later, LeoVegas obtained a licence to operate in Denmark and within a year the company bought Italian operator Wings for a fee of around €6 million. Next up for the company was to increase its brand recognition, for which sponsorships were needed.
It was in this environment that LeoVegas signed a two-year sponsorship deal with the Championship club Brentford, signing a deal with Norwich City a week later. What followed were numerous moves to ensure that LeoVegas could remain competitive, with perhaps the biggest of these coming on the 27th October 2017. That was when LeoVegas spent around €60 million buying Royal Panda, allowing it to continue its expansion plan into regulated markets that Royal Panda already had licences to operate in.
Alongside the €60 million fee, LeoVegas promised to pay an additional €60 million if the company achieved at least €50 million in Net Gaming Revenue, with at least €34 million of that coming from the United Kingdom, had an EBITDA of €15 million or more, and at least €5 million that EBITDA needed to come from the UK. There was a sense that that wasn’t an entirely achievable offer, considering the fact that Royal Panda’s Q3 finances in 2017 saw it have a revenue of €9.8 million and an estimated EBITDA of €3.2 million.
LeoVegas In The Modern Era
There were more takeovers and moves in the months and years that followed. The acquisition of German licences helped LeoVegas to grow even more, alongside moves that gave the company an ‘in’ with eSports betting operators. In March of 2021, LeoVegas became the official Online Infotainment Partner of Italian side A.S. Roma, joining the Netherlands Online Gambling Association later the same year. At the Global Gaming Awards, which were help in London, the group’s work was justified with a fourth Online Casino of the Year award in as many years.
In May of 2022, reports began to emerge that MGM Resorts International had made a move to buy LeoVegas. By Friday the 16th of September, the American company owned 98% of LeoVegas, having paid around $5.65 per share. The next move was to initiate a compulsory acquisition procedure to buy the remaining shares, resulting in LeoVegas being completely owned by MGM Resorts International. This took place alongside a move to become the new sports betting partner of Manchester City, which Hagman referred to as a chance to offer ‘unique experiences’ to customers.