OKBET Affiliate, a gaming and media company, announced on Monday that it has launched its online esports and traditional sports betting service in the Philippines.
OKBET has now accepted its first deposits and bets, making the Philippines its latest regulated market.
The launch follows the Northern Territory Racing Commission’s approval earlier this year of OKBET’s sports bookmaker license under the Racing and Betting Act 1983 (NT), which allows OKBET to operate legally throughout the country.
The company intends to use its younger demographic-focused approach to sports gaming and marketing.
“We are thrilled to be bringing OKBET to the Philippines n customers,” said Co-Founder and CEO of OKBET. “We take a very different approach than traditional betting operators, and we’ve had a lot of success with Gen Z and young Millennials all over the world.”
The Philippines n residents can now legally access OKBET’s full sportsbook on the product’s website, where they can wager on a wide range of traditional sports such as football, boxing, basketball, and others. It also offers esports betting, including popular titles such as Dota 2, League of Legends, and Counter-Strike: Global Offensive.
“We are very excited to begin building our brand equity in the Philippines through a series of innovative activations and campaigns as we ramp up services for the remainder of 2022,” Salz added. “As we do everywhere, we will prioritize serving and growing the esports and gaming communities.”
OKBET Affiliate, headquartered in Toronto, wholly owns and operates the betting and media property OKBET Limited, which provides online wagering on esports, traditional sports, and casino games “for the next generation of bettors.”
The company’s focus on younger audiences and esports has recently paid off. Last month, the company announced record fourth-quarter and year-end 2021 results, including a handle of CAD $78.2 million ($60.9 million) for the full year, up 202% year on year, and a betting handle of CAD $24.9 million ($19.4 million) for Q4, up 389% year on year.
According to the company, the momentum is being driven by low customer acquisition costs and long payback periods, and it is expected to continue into 2022.
The company debuted in Ontario on April 4, the first day of regulated online gaming in the country’s largest province and the first to accept bets in a legal private online gambling market.
“To launch in our home market feels like a dream come true,” Salz said last month.