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Q&A: Sportingwin and the Bulgaria opportunity


Mark Chakravarti, Head of Investment at Sportingwin, talks about why the operator sees such potential in the market and how it has found the licensing process to date
Bulgaria has had a major shake-up when it comes to how gambling operators are licensed and regulated in the country with the National Revenue Agency recently taking on the responsibility.
Amid allegations of corruption among its predecessor, the State Gambling Commission, the new regulator is moving forwards with plans to issue additional licences over the coming months.
The first in line to receive such a licence is Sportingwin, which has ambitious plans for Bulgaria once it has been given the green light to launch.
To learn more about Bulgaria and the operator’s plans for the market, we sat down with Mark Chakravarti, Head of Investment at Sportingwin.
Why do you see so much potential in Bulgaria?
You just have to look at the numbers to see the potential. We estimate the Bulgaria market to be worth around £300m right now but as new operators enter the fray it could grow at a rate of 20% per year to hit £500m over the course of the next five years.
Coupled with this is the low level of competition. Only five betting licences have been issued to date and mostly to local retail bookmakers with a limited online offering. These sites simply don’t offer the depth of markets, odds and products available in other European jurisdictions.
This presents a tremendous opportunity for experienced online sportsbooks to make their mark, so long as they enter Bulgaria with a localised product that delivers a superior player experience. Those that do are very much in the driving seat to capitalise on the tremendous potential on the table.
What do Bulgarian players look for in an online sportsbook?
There is a long tradition of retail and online sports betting in Bulgaria, so players are seeking a comprehensive, quality, cutting-edge product and experience similar to that offered and found in mature markets such as the UK.
In particular, they are seeking a high volume of events, a range of bet types as well as modern features such cash out. We also believe that exchange betting, while not currently available, will be hugely popular once we secure our licence and launch the Sportingwin exchange in the market.
How will you meet those needs and localise your offering?
There are two key ways we are doing this – product and our approach to CRM. When it comes to product, we are developing a proprietary platform that is fully customisable for each market we enter, including Bulgaria. This includes localised payment options, currencies, sports, etc.
In terms of CRM, we are investing in a local customer support centre so that we can comfortably meet the staff-intensive local language CRM and marketing operations and activities we believe will enable us to communicate to and engage with Bulgarian players.
How have you found the licencing process to date?
The Bulgarian regulator has incredibly high standards and expectations when it comes to due diligence. As such, the licensing process has been a little slower than in other jurisdictions, but we are okay with this as we want to make sure we not only meet but exceed their standards.
This means taking additional steps such as appointing a dedicated Bulgarian CEO. He has a proven background in gaming and the regulator can quickly carry out the necessary checks that it needs to in order to ascertain his credibility and suitability for the role.
Owning our own technology has also allowed us to synchronise our platform with the NRA already, which in turn means we are among those on the regulator’s list of approved technologies ready for when our licence is granted.
In addition, we are a Maltese company so have requested that the Maltese consulate in Bulgaria monitor the licensing process from start to finish as our application is the first to be considered since the Nation Revenue Agency took over regulatory responsibility earlier in the year.
By having the right people on a local level, and by taking considered steps towards ensuring we meet the standards set by regulator, we expect to receive our licence in the first quarter of next year.
What has been the toughest challenge to overcome?
The toughest challenge is in respect to the due diligence and in particular the requirement of having an €800,000 investment from a local, proven source of funds. To do this, we have had to find a local banking partner which was easier said than done.
That being said, the team pulled together and we were able to find a local banking partner happy to facilitate the investment allowing us to progress through the licensing process.
What are your long-term plans for the Bulgarian market?
We want to claim 9% of the local market within the first three years. We then plan to build on this rapidly by securing further venture capital that will enable us to consolidate the market through mergers and acquisitions with local operators.
Once we have achieved the scale we are seeking, we can then effectively pursue market leader bet365. It is a tough task, but one that we are more than capable of completing thanks to the incredible team we have built out in recent years.
We also believe our cutting-edge proprietary technology and platform gives us a huge edge over the incumbent operators and brands and will allow us to compete with and defeat any other overseas operators that enter the market.
What is your long-term plan for Sportingwin?
We are currently undertaking a fundraising campaign to help accelerate our global expansion efforts, selling off more than €1m in equity.
These investments are in line with our long-term strategy for the brand which is to achieve a valuation of €50m in three years and, once achieved, would deliver a x13 increase on the current investment opportunity.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Q&A: Sportingwin and the Bulgaria opportunity

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Brainwallet®: A Digital Wallet for Litecoin Users Now Available to Over 1.38 Billion iPhone Users
Grunt Software is proud to announce the launch of Brainwallet™ on iOS, bringing its innovative self-hosted Litecoin wallet to the fingertips of over 1.38 billion iPhone users worldwide . This expansion marks a significant milestone in Brainwallet’s mission to provide secure and user-friendly cryptocurrency solutions across all major platforms.The move further bolsters Brainwallets commitment building security and trust. iOS is known for its robust security features including a strict app review process, which increases user trust and reduces exposure to malware.
Enhancing Accessibility for iOS Users
With iOS holding approximately 27.6% of the global mobile operating system market share, the availability of Brainwallet on the App Store ensures that a substantial segment of the mobile user base can now access its features. iOS is known for its loyal global user base. This move aligns with Brainwallets commitment to global expansion and is more accessible and secure for users worldwide.
Key Features of Brainwallet for iOS
- Self-Hosted Security: Private keys are encrypted and stored locally on the user’s device, ensuring full control over their Litecoin assets.
- Seed Phrase Memorization Games: Coming Soon!: Optional in-app games designed to help users memorize their seed phrases in an engaging manner.
- User-Friendly Interface and reduced download time: A simple interface enables seamless navigation and quick transaction management. Optimized app design also reduces download time, critical for onboarding new users and ensuring accessibility in regions with slower internet speeds.
- Open Source: Brainwallet’s open source development model ensures transparency so users can see and trust our code.
- Multi-Platform Availability: Now accessible on iOS, Android, and desktop devices
A Word from the Creator
“Launching Brainwallet on iOS is a significant step in our journey to make a secure digital wallet for Litecoin accessible to a broader audience,” said Kerry Washington, CEO of Grunt Software and creator of Brainwallet. “We are excited to bring our innovative features to iPhone users and continue to support the Litecoin community with tools that prioritize security and user experience.”
Availability
Brainwallet is now available for download on the App Store. For more information and to get started, visit brainwallet.co.
The post Brainwallet®: A Digital Wallet for Litecoin Users Now Available to Over 1.38 Billion iPhone Users appeared first on European Gaming Industry News.
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Insights into cryptocurrency wealth in 2025: Open the door to stable returns on digital assets through blockchain cloud mining
Blockchain Cloud Mining creates an easy cloud mining journey without equipment and barriers
In June 2025, the cryptocurrency market continued to show strong vitality. Mainstream cryptocurrencies rose steadily: BTC and ETH are still the protagonists. According to data from multiple crypto trading platforms, as of mid-June: Bitcoin (BTC) is currently stable at $105,000-106,000; Ethereum (ETH) is trading in the $2,500-2,550 range; Solana, XRP, TON and other emerging currencies also showed a certain increase and capital inflow.
This not only indicates the recovery of market confidence, but also reflects the structural maturity of the entire blockchain ecosystem. From the compliant listing of spot ETFs to the on-chain explosion of Layer 2, the crypto market is no longer just a stage for early geeks and venture capitalists, but has gradually evolved into a new wealth portal for global users.
The support for this round of market is not simply from retail sentiment, but the triple resonance of continued institutional buying, ETF product compliance promotion, and global inflation expectations. With the support of asset management giants such as BlackRock and Fidelity, mainstream cryptocurrencies have officially entered the era of “asset allocation”.
Against this background, the cloud mining model has quickly become popular and has become a low-threshold and efficient channel for global crypto enthusiasts to participate in the crypto market, especially global leading platforms like BlockchainCloudMining, creating a way to redefine “passive income”.
Security and Sustainability
In the field of mining, trust and security are crucial. Blockchain Mining knows this and puts user safety first. We will continue to be committed to honest and legal operations to ensure that your energy is protected and you can focus on profitability. All mines use clean energy, making cloud mining a carbon-neutral entity. Renewable energy protects the environment, reduces pollution, and brings rich returns, allowing every investor to enjoy opportunities and benefits again.
Why choose BlockchainCloudMining?
- Register to get a $12 reward.
- No other service fees or management fees.
- High profitability, daily dividends.
- The platform supports more than 9 cryptocurrencies for settlement, such as DOGE, BTC, ETH, SOL, USDC, USDT, XRP, LTC and BCH.
- The company’s affiliate program allows you to refer friends and get up to $50,000 in referral bonuses.
- McAfee® security. Cloudflare® security. Guaranteed 100% uptime and 24/7 online technical support.
How to easily earn daily income using blockchain cloud computing power?
Step 1: Register an account: You can register an account by entering an email address and setting a platform login password. You will receive a $12 registration bonus, which can be used to purchase a $12 contract with a daily profit of $0.6. This plan provides users with free cloud mining services without any financial risk.
Step 2: Select a blockchain cloud mining contract: In addition to the $12 contract, there are multiple contracts that can be purchased at the same time. Each contract has a fixed return, and more returns can be obtained after purchase. The potential of high-yield new contracts is as follows:
- [New User Experience Contract]: Investment amount: $100, contract period 2 days, potential total return: $100 + $6.
- [WhatsMiner M66S]: Investment amount: $500, contract period 7 days, potential total return: $500 + $40.25
- [WhatsMiner M60]: Investment amount: $1000, contract period 14 days, potential total return: $1000 + $168.
- [Bitcoin Miner S21 XP Imm]: Investment amount: $4900, contract period 32 days, potential total return: $4900 + $2048.
- 【ALPH Miner AL1】: Investment amount: $10,000, contract period 45 days, potential total income: $10,000 + $6,075.
(The platform has launched a number of stable income contracts, please log in to the official website of Blockchaincloudmining.com for more contracts)
Conclusion: In the era of encryption, the key to seize the next wave of dividends
In the current market environment, crypto assets are no longer just a speculative tool for “gambling on luck”, but a long-term configuration option for wealth growth. But how to participate determines your cost, efficiency and security boundaries.
For users who want to participate in the long term and do not want to take too much risk, the cloud mining service provided by BlockchainCloudMining is undoubtedly a smart and convenient choice. Low threshold, high transparency, and stable income allow you to easily enter the world of digital assets and truly open up the possibility of daily “after-sleep income”.
The post Insights into cryptocurrency wealth in 2025: Open the door to stable returns on digital assets through blockchain cloud mining appeared first on European Gaming Industry News.
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Mattias Wedar appointed CEO of LeoVegas Group
LeoVegas Group enters a new phase with Mattias Wedar as the new CEO. Wedar, previously Chief Product and Technology Officer and Deputy CEO, takes over the reins from Gustaf Hagman, co-founder and CEO since 2011. Hagman, who is stepping down after 14 years, expresses strong support for Wedar’s appointment and sees this as a strategically appropriate time for new leadership to build on LeoVegas Group’s success.
Gustaf Hagman, co-founder of LeoVegas Group together with Robin Ramm-Ericson and CEO since 2011, has announced that he will step down from his role on 16 June. Under Gustaf’s leadership, LeoVegas Group has rapidly grown from pioneering challenger in the igaming industry to an internationally leading operator. The foundation of the Group’s success has been a strong technology- and product-driven approach. LeoVegas Group developed its own platform, Rhino, early on and, following its acquisition by MGM Resorts International in 2022, has expanded its share of the value chain through strategic acquisitions of the game studio Push Gaming and the sportsbook from Tipico U.S. A new chapter in the Group’s history has begun, and this is now a strategically opportune moment for new leadership that can build on what Gustaf and Robin started.
Mattias Wedar, formerly Chief Product and Technology Officer between 2019 and 2025 and Deputy CEO since April 2025, assumes his role of CEO of LeoVegas Group as of today. Mattias brings extensive experience from the tech industry, having served as part of the management team at the gaming operator Mr Green, now part of the international group Evoke. With Mattias as CEO, LeoVegas Group will further develop its technology- and product-driven focus, accelerate its global growth, and continue its pursuit of creating the world’s greatest igaming experience.
Gustaf Hagman, co-founder of LeoVegas Group and outgoing CEO, said “When Robin Ramm-Ericson and I were sitting at a barbecue, brainstorming about a spinning iPhone as a roulette wheel, I could never have imagined that it would lead us here. Founding and leading LeoVegas Group to become a market leader has been one of the greatest adventures of my life, and I am incredibly proud of everything we in ‘Team Leo’ have accomplished. When we launched in Sweden in 2012, the industry was in its infancy, and we were sailing in uncharted waters. With a strong team, great commitment, and a fantastic corporate culture, we navigated the course successfully and managed to become one of the leading international players – it is truly impressive. Now, as part of the MGM family, LeoVegas Group is now stronger than ever, and it is the right strategic moment to pass the baton to Mattias Wedar. Mattias has been an invaluable asset from day one, and I am confident that he is the right person to take the Group to new heights. After 14 years of traveling and being constantly connected, I am now looking forward to a period of rest and more free time – but I will always be a part of ‘Team Leo’ and will continue to follow its success closely.”
Mattias Wedar, incoming CEO of LeoVegas Group, said “During the six years I have been part of what we call Team Leo, I have been consistently impressed by our innovation, pioneering spirit, and strong corporate culture. The success story that Gustaf and Robin began 14 years ago is stronger than ever, and we see many exciting opportunities on the horizon. I am honored to have been entrusted with the challenge of taking on the role of CEO in LeoVegas Group’s new chapter, and I look forward to continuing to lead us towards new milestones.”
Gary Fritz, President at MGM Resorts International Interactive, said “Since MGM Resorts’ acquisition of LeoVegas Group three years ago, we have consistently delivered on our established growth strategy, with a strong focus on strategic investments and the establishment of BetMGM as a leading global igaming and sports betting brand. Gustaf Hagman’s leadership and LeoVegas Group’s expertise in product development and local market expansion have laid the foundation for positioning both BetMGM and LeoVegas as global leaders in the industry. I would like to thank Gustaf for his dedication and leadership, and I have full confidence that LeoVegas Group, under Mattias’ leadership, will continue to deliver on our strategic plan. We look forward to supporting him and LeoVegas Group in our shared growth journey.”
The post Mattias Wedar appointed CEO of LeoVegas Group appeared first on European Gaming Industry News.
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