|Betbrokers plc, a UK-based retail and wholesale brokerage and clearing house for the sports betting industry, has announced that it has signed a counterparty agreement with Samvo Entertainment Limited, one of the largest bookmakers in Asia.|
The terms of the agreement will enable Betbrokers to place bets with Samvo on behalf of its retail and wholesale clients, whilst providing Samvo with access to Betbrokers’ services to help to square their books and effectively manage risk.
The agreement marks Betbrokers' first steps into the Asian market, alongside a company with a large and loyal customer base who are well respected in Asia for their innovation and professionalism.
Samvo Group boasts over 30 years' experience in the gaming and betting industry and was one of the first Asian-backed online betting companies to obtain multiple gaming and betting licences from various European and Asian governments. Samvo also operates a UK dedicated sportsbook betting website Samvo.co.uk which primarily specialises in football betting.
Commenting on the agreement, Wayne Lochner, Chairman and Chief Executive of Betbrokers, said, “This counterparty agreement with Samvo will extend Betbrokers' geographical reach, giving the Company access to the emerging Asian gaming market. This is a significant agreement for Betbrokers and is another excellent endorsement from an industry counterparty.”