Who Owns Bet99? Understanding the Ownership of the Popular Sportsbook and Casino

Part of the BET99 brand expansion initially involved acquisitions and mergers. Its most notable merger was supposed to be with Kings Entertainment Group. If this went through, BET99 would've been brought into the public capital markets via the Canadian Securities Exchange.

Kings Entertainment Group and the Canadian Securities Exchange: A Proposed Merger That Fell Through

As mentioned, Sports Venture Holdings Inc. announced a merger with Kings Entertainment Group. This came in May 2022.

Kings Entertainment Group, a publicly traded company on the Canadian Securities Exchange, would've brought a whole new dynamic to the company with additional financial resources and increased visibility.

Shareholders of Kings Entertainment Group approved the merger, and the Canadian Securities Exchange gave conditional approval.

However, before the deal was finalized and after three extension agreements, Sports Venture Holdings resisted the merger and eventually settled with Kings Entertainment Group.

As a result of the settlement, Sports Venture Holdings paid Kings Entertainment Group back its $2.5 million advance and an additional $1.75 million for costs it incurred that involved the merger.

Jared Beber is the most prominent member of the Sports Venture Holdings Inc. leadership team. He's the company's CEO and provides quotes in almost all BET99 press release material.

In addition to Beber, Doug Honegger, a co-founder of BET99, commented on a partnership deal between the brand and NHL superstar Auston Matthews.

Laura Petrauska, the Head of Casino at BET99, also appeared at the SBC Summit in Lisbon.

Outside of Beber and Honegger, there's not a lot of public interaction from BET99's leadership positions.

BET99 operates and is licensed throughout Canada.

• In Ontario, it's licensed by the Alcohol and Gaming Commission.
• As for the rest of Canada, it's licensed to operate by the Kahnawake Gaming Commission.

With these licenses, BET99 must adhere to regulatory oversight, including responsible gambling practices, player protection, anti-money laundering regulations, and more.

• 2019: BET99 was created by a group of experts working under the umbrella of BQC Consulting GmbH.
• 2020: BET99 obtained a license from the Kahnawake Gaming Commission and officially launched as an online sports betting platform and online casino.
• 2021: Bill C-218 was passed, legalizing single-game sports betting throughout Canada. This same year, BET99 obtained partnerships with key sports figures in Canada.
• 2022: Ontario established regulations for its gambling market, and BET99 obtained a license through the Alcohol and Gaming Commission.

From here, as mentioned above, it agreed to merge with Kings Entertainment Group but then backed out.

Given that BET99 is a privately held company, there is not much publicly available information regarding its financial performance or Canadian market position.

However, according to a press release in May 2022 regarding the initial agreement to become a merged company between Sports Venture Holdings and Kings Entertainment Group Inc., BET99 had, at that point, handled over $1.2 billion in wagers across the online sports betting platform and casino. It also mentioned that from CY2020 to CY2021, its net gaming revenue grew from about $600k to $26 million.

There was also information regarding the first quarter of 2022, which generated about $12.2 million.

The BET99 brand has scored numerous high-profile partnerships and collaborations.

Georges St. Pierre: Former champion and now retired UFC fighter Georges “Rush” St. Pierre went 26-2 over his career and became an ambassador for the brand. He's been involved in marketing campaigns to promote responsible gambling.

Auston Matthews: An NHL star for the Toronto Maple Leafs, BET99 signed Matthews to a partnership in 2022 that was believed to be around three years and worth "seven figures," per Sportsnet. Matthews made a post on X regarding the partnership on Feb. 18, 2022, saying, 

I’m proud to announce my partnership with BET99.net and am excited to explore and develop opportunities in this space alongside their team. Stay tuned for more!

National Hockey League (NHL): On Dec. 20, 2022, it was announced that BET99 and the NHL agreed to a new multiyear Canadian partnership. Included in the deal was a free-to-play game, NHL PrePlay, which included a series of questions and gave players a chance to win $100,000. Beber commented on the deal in a press release, saying, "This partnership is groundbreaking for Canadian hockey and sports fans... NHL PrePlay will amplify fan engagement and excitement around NHL games, especially the prizes, which include access to once-in-a-lifetime experiences. Designed to support our focus on education within the gaming space, the game offers opportunities for players to explore the space and become more knowledgeable without making real money wagers. Not only is the NHL PrePlay program innovative and a great access point for new and potential bettors, but the educational aspect also fits well with our focus on responsible gaming. We'll also leverage our partnership with NHL star Auston Matthews, taking this agreement to the next level."

Regarding the NHL partnership, Jason Jazayeri, the NHL Vice President, said: "We're thrilled to partner with BET99 and promote BET99.ca and BET99.net on this unique and innovative Free-To-Play platform... This collaborative partnership has allowed us to create an entirely new Free-to-Play game that will focus on delivering a fun and immersive game to our fans while also providing a level of access that we haven't seen before in our sport."

Moving forward, it appears BET99 is interested in getting more involved with Esports after agreeing to a deal with PandaScore, an esports betting odds provider that offers coverage for big-name titles in that industry, such as Counter-Strike 2, DOTA 2, and League of Legends.

Additionally, Laura Petrauska, the Head of Casino for BET99, appeared at the SBC Submmit in Lisbon in 2024 and was asked how she thinks player preferences will change over the next 12 months.

She said, "I think that player preferences will continue to remain authentic to the current trends we see in gaming. To start off, I’m confident players will continue to seek slots with high volatility and large winning multipliers. I’d even add that this trend is not exclusive to only slots – which is why live dealer games like Xxxtreme Lightning Roulette and Crazy Time are consistently amongst players’ favourite titles. At the same time, with so many options in slots offerings, players may oftentimes feel overwhelmed. That’s why many players stick to slots they are familiar with, with classics like Book of Dead, Starburst and Gates of Olympus taking the lead. Additionally, it’s no secret that crash games have become quite popular and I foresee this trend to grow even further."

She was also asked about AI's impact on gaming.

"I think it’s safe to say that AI has become a part of our daily lives and its potential is uncapped. When it comes to igaming, AI can be an incredible resource if used correctly. For example, using a virtual customer assistant to speed up the customer waiting time in live chats. Also, AI generated casino lobbies can help tailor casino content not only based on a specific market, but individual preferences. These two are the areas I’ve seen AI’s impact the most in the gaming space. I believe that AI will continue to play an important role in automating data-driven tasks to help casino operators with daily operations while allowing them to focus their human resources in other areas. However, in my opinion, a casino product – whether we’re talking about slots, table games or even live casino games – is a product of art, and I hope that it won’t ever be replaced by AI."

Beber, the CEO, also took to LinkedIn on Employee Appreciate Day in 2025 and provided some insight into BET99's future, writing, "At BET99, we are more than just a sportsbook and casino—we are building Canada’s leading entertainment ecosystem, where players don’t just place bets, but feel part of something bigger. And that wouldn’t be possible without a team that understands the importance of connection, culture, and community.... BET99 is the future of entertainment in Canada—and that future is being built by you."