Deutsche Telekom set for expansion into online sports betting

German telecommunications company Deutsche Telekom is to launch a new online sports betting product after acquiring a 64% stake in Österreichische Sportwetten subsidiary Deustche Sportwetten (DSW).

Although the terms of the deal were not disclosed, Deutsche Telekom, which posted EBITDA of €17.4 billion ($19.8 bn) last year, did confirm that it intends to launch “purely internet-based sports betting services”.

The new service, which is expected to launch within the first quarter of this year, will operate under Österreichische Sportwetten’s Tipp3 brand.

Customers will be able to access betting services on a range of sports such as football, basketball and the Formula 1 motor-racing championship.

Deutsche Telekom has been linked with an expansion into sports betting for some time now, with speculation last year suggesting that the company was interested in acquiring an operator.

Reports intensified after the Hesse Ministry of the Interior and Sports (HMDIS) in September awarded a number of online sports betting licences to both regional and international operators.

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