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Unibet

“Can Unibet (under FDJ ownership) maintain its multi-brand, multi-jurisdiction online gambling market share while meeting tightening UK and EU regulatory requirements around affordability checks, KYC, and responsible gambling?”

Founded1997
HQMalta
FoundersAnders Ström
Latest roundAcquired by FDJ (La Française des Jeux) for ~$2.75B, October 2024
Valuation$2.75B (acquisition price, 2024)
IndustryMarketplace / Gig economy
The story

Founded in 1997 as a telephone sports-betting operation, Unibet migrated online and grew into one of Europe's largest multi-product gambling brands under Kindred Group. The group expanded through acquisitions (Bet24, 32Red, Maria Casino) and multi-jurisdiction licensing across Europe and Australia. In 2024 the entire Kindred Group was acquired by FDJ for ~$2.75B, integrating Unibet into a French state-backed gaming conglomerate now branded FDJ United. Unibet's embedded finance evolution has been driven by payments infrastructure (PCI DSS, tokenization), open-banking-based affordability checks required by the UK Gambling Commission, and KYC/AML compliance as regulatory scrutiny intensifies.

Last 12 months
2024-10
Product timeline
1997
Founded by Anders Ström as Unibet, initially focused on telephone-based sports betting.· pivot
2011
Unibet awarded one of 48 licenses for the newly re-regulated Danish market.· banking
2012
Acquired Bet24, a Danish online betting operator, expanding Nordic presence.· acquisition
2016
Unibet Group Plc rebranded to Kindred Group, consolidating nine brands under one holding company.· pivot
2024
Kindred Group (parent of Unibet) acquired by La Française des Jeux (FDJ) in a cash buyout for approximately $2.75B; delisted from Stockholm Stock Exchange.· acquisition
Regulated entities
2
regulatory licences held by Unibet
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in Unibet’s embedded-finance stack
Banking / BaaS
GBank
Accounting gap: none