Mybet to relaunch in Germany with Kambi

Mybet is to relaunch its online sports betting services in Germany through a new partnership with Kambi.

The sports betting brand, now operated by investment group Rhinoceros Operations, plans to go live in Germany before the end of the first half.

Kambi will provide mybet with a complete sportsbook and full range of managed services, while Rhinoceros Operations will also have an option to launch a Kambi sportsbook with other brands under its ownership.

MyBet Holding SE, the previous owner of mybet, withdrew the brand from the German market in autumn last year due to financial issues at the business. Talks with an investor broke down in August and MyBet Holding filed for insolvency, owing some €4m (£3.5m/$4.6m) in sports betting taxes.

Rhinoceros Operations then swooped to acquire both the mybet brand and digital assets soon after.

“The story of mybet illustrates why operators cannot afford to rely purely on the strength of their brand and history in a market,” Kambi CEO Kristian Nylén said.

“Online sports bettors are increasingly promiscuous so operators must ensure they have sufficient scale in their product investments to provide exciting sports betting experiences at all times to remain competitive.”

Tobias Carlsson, Rhinoceros Group CEO, added: “Mybet was one of the pioneers in the German sports betting field, and together with Kambi and our other partners we will do everything in our power to revive that legacy and bring players the experience they desire and deserve.”