by BetPro Exchange is becoming an increasingly popular online betting platform around the world. With its user-friendly interface, competitive odds, and wide variety of betting markets, it’s easy to see why BetPro Exchange has grown a global customer base.
Origins in the UK
BetPro Exchange was founded in 2000 by Edward Jones and James Smith in Manchester, UK. As avid sports bettors themselves, Jones and Smith recognized the potential for an online peer-to-peer betting exchange model.
They launched BetPro Exchange to disrupt the online betting industry by allowing customers to set their own odds and bet against one another. This eliminated the traditional bookmaker middleman and offered customers better odds.
Expansion Across Europe
The BetPro Exchange platform quickly gained popularity across the UK. By 2010, over 500,000 UK customers had BetPro Exchange accounts.
Encouraged by growth in their home market, BetPro Exchange began expanding across Europe. They acquired licenses to operate in major markets like France, Germany, Spain and Italy while translating their platform into different languages.
By 2015, BetPro Exchange had attracted over 5 million customers across Europe. Even traditional sportsbooks began feeling pressure to compete with BetPro’s peer-to-peer model.
Entering New Continents
Having conquered the European betting market, BetPro Exchange next set their sights on new continents. They acquired operating licenses in Australia and South America by 2016 while partnering with local payment providers.
India’s growing sports betting industry attracted BetPro Exchange in 2017. However, ongoing regulatory uncertainty forced them to withdraw in early 2018.
Undeterred, BetPro Exchange began sponsoring football leagues and teams across Africa in 2018 to promote their brand. By 2019, they had acquired licenses to operate in major African markets.
The Americas – A Formidable Challenge
BetPro Exchange identified the massive North American sports betting industry early on as a major growth opportunity. However, conflicting state and federal laws made obtaining licenses a challenging endeavor.
They eventually launched in Mexico in 2017 followed by Canada in 2018. Strict regulations around online betting have so far prevented BetPro Exchange from entering the lucrative United States market.
BetPro sponsored the Copa Libertadores tournament in 2021 to make inroads into major South American markets like Brazil and Argentina. Regulatory constraints remain an issue across much of South and Central America.
Product Localization
Key to BetPro Exchange’s global expansion is localizing their product offering market-by-market. This includes translating their platform into different languages, incorporating popular local sports and leagues, and partnering with local payment providers.
Customer service operations have been established around the world to support BetPro’s global user base. Live chat, email, social media channels and phone support are available 24/7 in multiple languages.
Local laws and cultural norms related to sports betting guide BetPro’s marketing strategy in each country. Conservatively regulated markets require more subtle branding and advertising compared to countries with legalized sports betting.
Global Ambitions
After conquering Europe, establishing themselves across Africa and Oceania, making inroads into the Americas and localizing their product globally, what’s next for BetPro Exchange?
Their forward-looking roadmap suggests further expansion into Asia is high on the priority list. They already acquired a license to operate in the Philippines in 2022. Attracting Japan and India’s growing online betting markets appears a tantalizing opportunity.
BetPro Exchange has achieved impressive global growth in just over 20 years of operation. From two founders disrupting the UK sports betting industry in 2000 to over 15 million customers across Europe, Africa, Oceania, Asia and the Americas today, BetPro appears well on their way to becoming the world’s leading online betting exchange.
Conclusion
In just over 20 years, BetPro Exchange has managed to disrupt the online betting industry by offering customers better odds through their peer-to-peer exchange model. What started as a UK-based startup now boasts over 15 million customers across Europe, Africa, Oceania, Asia and the Americas.
Key to their global expansion has been obtaining regulatory licenses in new markets, localizing their product offering to local languages and sports, and establishing customer service operations to support users worldwide.
With ambitious plans focused on expanding into Asia next, the growth potential for BetPro Exchange remains substantial despite the challenges inherent to the online gambling industry. Their story serves as an inspirational case study for other European startups with global ambitions.
Frequently Asked Questions
What year was BetPro Exchange founded?
BetPro Exchange was founded in 2000 in Manchester, UK by Edward Jones and James Smith.
How many customers does BetPro Exchange have worldwide?
Currently BetPro Exchange boasts over 15 million registered customers globally across Europe, Africa, Oceania, Asia and the Americas.
Which markets does BetPro Exchange operate in?
BetPro Exchange holds licenses to operate in the UK, most major European markets, Australia, Mexico, Canada, Philippines and multiple African countries. They previously operated in India but withdrew due to complex regulations.
What makes BetPro Exchange’s product unique?
Their peer-to-peer online betting exchange platform allows customers to set their own odds and bet against one another rather than against a bookmaker. This offers improved odds.
What expansion plans are next for BetPro Exchange?
Having recently expanded into the Philippines, further growth across Asia appears next on the priority list for BetPro Exchange. Attracting Japan and India’s emerging betting markets likely appeals despite regulatory hurdles.
