OneTwenty is set to expanded into Brazil and Spain with localised versions of its BettingOdds platform as the affiliate looks to diversify its revenue streams.
Following an expansion into the Netherlands during this summer’s Euro 2024, Brazil and Spain will become the latest markets the Ireland-based firm will be aiming to tap into.
The UK-facing version of the BettingOdds site includes standard operator promotions, site reviews, free bets and a betting calculator.
Brazil is due to launch its regulated online sports betting and igaming market in January 2025, with 113 operators applying for a licence to operate in the South American nation.
OneTwenty said Brazil represented an “unique opportunity to engage with a vast audience of bettors who are eager for a localised, reliable and insightful betting odds service”.
The business also cited Entain, Flutter Entertainment and MGM Resorts International’s interest in Brazil as a sign of the “market’s explosive growth”.
In terms of Spain, the affiliate said the market was a key target due to its “stability and robust growth potential”.
The expansion into Brazil and Spain for BettingOdds will be followed up by localised launches of other OneTwenty sites, including Squawka.
OneTwenty subsidiary Moneta Communications acquired Squawka and GG.co.uk from Catena Media for €6m in August 2023.
Chris Russell, OneTwenty CEO, said the expansion would allow the group to diversify its revenue streams and reduce its reliance on the UK.
He remarked: “Entering the Brazilian and Spanish markets aligns perfectly with our vision of empowering sports bettors with the best tools and information in regulated markets globally.
“With over 60% of our revenue already generated from locally regulated markets, this move represents a key opportunity to diversify our revenue streams beyond the UK market, which currently accounts for 50% of our total revenues.”
The post OneTwenty eyes revenue diversification with Brazil and Spain expansion first appeared on EGR Intel.