The 1xBet Group announced some exciting developments this week as they have now signed a Trademark License Agreement with Tonybet. The agreement will now see TonyBet, an independent operator, acquire the 1xBet UK trademark from the 1xBet Group and will gain them exclusive rights to operate the trademark in the United Kingdom.
A New Trademark Deal
1xBet Group are a leading international gaming B2B and B2C bookmaking business who have now signed this Trademark Agreement with TonyBet who is an international gaming group who are licensed by the UK Gambling Commission.
Thanks to the new agreement it will now enable TonyBet to develop fully UK Gambling Commission-complaint products and services for its 1xBet UK trademark in the future.
A new Trademark License Agreement has been signed between 1xBet Group and TonyBet.
The agreement also means that the 1xBet Group will not be operating in the UK and it will not offer its products and services to residents of the United Kingdom.
Strengthening Internal Systems
The sale of the UK Trademark to TonyBet isn’t the only news for the 1xBet Group though. They’ve also announced that they are strengthening their internal monitoring systems and customer protections.
In order to respond to industry wide challenges the Group has dedicated significant additional resources which includes the unauthorised use of gambling companies brands on websites which feature banned or inappropriate content. This includes the illegal use of streaming movies and sports.
It also includes revising their terms with third party affiliate programs to ensure more stringent guidelines when promoting their brand online.
The company has said they will not hesitate to take all the steps necessary to ensure the removal of any inappropriate content on other sites, including legal action.
Finalising the Deal
Speaking about the new agreement a TonyBet spokesperson said: “We are pleased to have concluded a deal to acquire the UK trademark of one of the fastest-growing gaming companies in the world. In the future we hope to roll out products and services under the 1xBet UK trademark in line with the relevant UK regulations and we are excited about the opportunities this gives our business.”
Commenting on the agreement with TonyBet, a 1xBet Group spokesperson also added: “While we have ambitious plans to continue our international expansion, the UK is not a key market for the group at this point in time. We are pleased with the deal and believe it was the right decision to sell the 1xBet 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.”