Leading international gaming and B2B and B2C bookmaking business, 1XBet Group has entered into a Trademark License Agreement with TonyBet, an international online gaming group licensed by the UK Gambling Commission.
In terms of the agreement, independent operator TonyBet will acquire the 1xBet UK trademark from the 1xBet Group that will see it being granted exclusive rights to operate the trademark in the UK.
TonyBet will now have the opportunity to develop fully UK Gambling Commissioned compliant products and services for its 1xBet UK trademark. As part of the agreement the 1xBet Group will not operate in the UK and will refrain from offering its products and services to UK customers.
1xBet has also revealed that it has strengthened its internal monitoring systems and customer protections and has strengthened its internal monitoring systems and customer protections.
The company has dedicated considerable additional resources to ensure it responds in industry-wide challenges, which includes the unauthorized use of gambling companies’ brands on websites which feature banned or inappropriate content, such as illegal streaming of sports and movies.
A TonyBet spokesperson, commented that they are pleased to have concluded a deal to acquire the UK trademark of one of the fastest-growing gaming companies in the world. He added that in future they hope to roll out products and services under the 1xBet UK trademark in line with the relevant UK regulations and they are excited about the opportunities this gives their business.
A spokesperson for 1xBet Group said they are pleased with the deal and believe it was the right decision to sell the 31xBet UK brand to TonyBet, which is locally regulated and can benefit from the owning and operating of the UK trademark of a truly global gaming group.