What MEGABET PLUS does

MEGABET PLUS is a Cyprus-domiciled sports betting operator and the self-described market leader in its domestic market. The company operates a vertically integrated retail-and-online bookmaking business, generating revenue by taking a margin ("ganiota") on pre-match and live bets across football, basketball, and tennis. Its operating entity, Cleverpath Holdings Limited (Cyprus registration HE354119), holds dual licences from the National Betting Authority of Cyprus — Class B bookmaker (B0011) and Class A Receiver (A014) — and is the parent of brands including SCOREBET and a roll-up of acquired Cypriot bookmakers (TOP SPORT, KORONA BET, BETENA, BHTABET, MYBET CYPRUS, and Royal Betting Ltd assets).

The company's distribution combines 200 physical retail shops across every Cypriot city and rural area, a network of 180+ betting agents served by a dedicated Fast Bet platform (agents.megabetplus.com.cy), a consumer online platform (megabetplus.com.cy), and a native iOS mobile application. Its product portfolio centers on conventional fixed-odds betting augmented by proprietary engagement features — Bet Builder, Cash Out (capped at €20,000 per ticket), Early Payout, Fast Goals – Early Over Payout, and parlay bonuses (Bonus Paroli up to 50% / €1,000; Money Back on Parlay insurance up to €200) — supported by payments via Paysafe vouchers, card, bank transfer, and cash. Gaming technology is certified by GLI and BMM Labs, and the group holds ISO 27001 and ISO 9001 certifications.

The business is a privately held, consumer-facing, single-country operator founded in 1987 (originally as SPORTSMAN BETTING CO LTD) and currently owned by LP THE PRO (MERIDIAN CYPRUS) LTD. Its leadership comprises President & CEO Dominique Laconico, CBDO George Halloumis, CRMO Andys Michael, CPO Giannos Kanellas, and BDSD Socratis Christodoulou. Revenue is generated transactionally via margin on betting volume; the company states ambitions to globalize its technology platform, though no executed international market entry is documented in available sources.

Name

MEGABET PLUS

Legal name

Cleverpath Holdings Limited

Website

https://megabetplus.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

101–250 employees

Short description

MEGABET PLUS is Cyprus's self-described leading sports betting operator, running 200 retail shops, 180+ agents, an online platform, and an iOS app under Cleverpath Holdings Ltd with dual National Betting Authority licences (B0011 / A014) for adult consumers in Cyprus.

Ownership category

akta.pro rank

Product category

Sports Betting

NAICS

Other Gambling Industries (713290), Gambling Industries (7132)

akta.pro primary industry

Sportsbook Retail Technology (Terminals, POS, Self-Service Betting) (MPAEACAN)

akta.pro secondary industry

Payments, Wallets & Cashiering for Sports Betting (MPAEACAG)

Keywords

• Sports betting services
• Retail betting shops
• Online gaming platform
• Betting agents network
• Live in-play betting

Headquarters

HQ city

Strovolos

HQ country

Cyprus

HQ region

Europe

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Sports Betting: Revenue generated from sports betting transactions. The company operates as a licensed bookmaker (Class B) and receiver (Class A) taking a margin (ganiota) on betting products, with additional revenue from various betting markets including pre-match, live betting, and specialized bet types across football, basketball, and tennis.
2. Online Gaming: Online gaming services provided through multiple online platforms and mobile applications, connecting customers to betting services via digital channels.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

MEGABET PLUS is a licensed sports betting operator in Cyprus that offers pre-match and live betting on football, basketball, tennis and other sports. It distributes its services through 200 retail betting shops, an online platform (megabetplus.com.cy), a native iOS mobile application, and a network of 180+ independent betting agents. The company takes a margin on wagers placed across multiple markets and runs promotional features such as Early Payout, 0% margin (Ganiota) bets, Bet Builder, Cash Out, and parlay bonuses.

Product overview

MEGABET PLUS operates as the market leader in sports betting in Cyprus, offering a unified platform combining online and offline channels. The core offering consists of the Sports Betting Platform supporting pre-match and live betting through both web and native iOS mobile applications. The product portfolio includes specialized betting features such as Bet Builder for custom accumulators, Cash Out for early settlement, Early Payout promotions, and Fast Goals Early Over Payout. The company also operates bonus programs including Bonus Paroli (parlay enhancement) and Money Back on Parlay (parlay insurance). A network of 200+ retail shops and 180+ betting agents extends the service offline, with the Fast Bet agents platform facilitating agent operations. The company operates under Cleverpath Holdings Ltd as parent, with SCOREBET as a secondary trading name. Gaming technology is certified by GLI and BMM Labs.

Differentiator

Problem solved

Functional benefit

Products and services

• MEGABET PLUS Sports Betting Platform The company's primary sports betting offering for individual consumers, providing pre-match and live betting markets on football, basketball, tennis and other sports through web, mobile, and a network of 200+ retail shops across Cyprus.
• MEGABET PLUS Mobile Application (iOS) A standalone native iOS application distributed on the Apple App Store that enables individual consumers in Cyprus to place pre-match and live sports bets, view odds, and manage their betting account from mobile devices.
• MEGABET PLUS Android Application Android version of the MEGABET PLUS mobile app available on Google Play, providing mobile access to sports betting markets for individual consumers in Cyprus.
• Fast Bet (Agents Platform) A dedicated online platform for the company's 180+ independent betting agents across Cyprus, allowing them to process customer bets and transactions under the MEGABET PLUS brand.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature6 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Cleverpath Holdings LtdcoreStrategic or Co-development Partner · 1 December 2018Parent company of MEGABET PLUS. From December 2018, CLEVERPATH HOLDINGS LTD operates under the name MEGABET PLUS. The company was purchased by LP THE PRO (MERIDIAN CYPRUS) LTD in November 2012 and renamed MEGABET PLUS LTD, subsequently becoming part of Cleverpath Holdings Ltd group.
• National Betting Authority of CypruscoreStrategic or Co-development PartnerRegulatory body that licenses and regulates the company's betting operations. MEGABET PLUS holds Class B bookmaker's licence No. B0011 and Class A Receiver license (A014).
• European Central BankminorStrategic or Co-development PartnerGuidelines for integrated payment methods including cash, card processing, and local bank transfers.
• Central Bank of CyprusminorStrategic or Co-development PartnerGuidelines for integrated payment methods including cash, card processing, and local bank transfers.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• OPAP: Greek-listed lottery and sports betting operator (Pame Stoixima brand) holding a multi-year sports-betting licence in Greece and an adjacent Mediterranean footprint; comparable omni-channel model combining retail agents with online and mobile.
• Novibet: Online sportsbook and casino operator headquartered in Greece with active operations in Cyprus; offers pre-match, live, and casino products comparable to MEGABET PLUS and competes head-to-head for the same Cypriot customer wallet.
• Stoiximan (Kaizen Gaming): Greek-origin online sportsbook and casino operator with significant presence in Cyprus and Greece; directly competes with MEGABET PLUS in pre-match and live football betting, with a comparable digital product stack including Bet Builder and Cash Out.

Emerging players

• 1xBet: Fast-growing international sportsbook with aggressive digital customer acquisition across Eastern Europe, Cyprus and the Mediterranean; competes with MEGABET PLUS primarily via online channels with wide market coverage and promotional depth.

Others

• Paysafe: Payments provider integrated into MEGABET PLUS's deposit stack via Paysafe vouchers; not a competitor but a relevant ecosystem peer for assessing payment-rail dependencies and the company's broader technology supply chain.

Broad incumbents

• Flutter Entertainment: Parent of Paddy Power, Betfair, FanDuel and Sisal — the world's largest online sportsbook and iGaming group by revenue; competes with MEGABET PLUS across European markets and sets the benchmark for product, risk and trading infrastructure.
• William Hill (Caesars Digital): Global sportsbook operator with strong retail heritage and growing digital presence across European regulated markets; comparable bookmaking product set including Early Payout and Bet Builder.
• Betsson: Stockholm-listed European sportsbook and casino operator with regulated presence across multiple jurisdictions; comparable in offering pre-match, live, and casino products with strong risk and compliance infrastructure.
• Bet365: Global online sportsbook leader with deep liquidity across football, basketball, and tennis; competes digitally with MEGABET PLUS inside Cyprus with superior odds and market depth, but does not operate a retail shop network.

Regional players

• MeridianBet: Regional sportsbook and retail betting operator active across the Balkans, Mediterranean and Africa; relevant peer given the historical ownership linkage of MEGABET PLUS to LP THE PRO (MERIDIAN CYPRUS) LTD and shared regional market dynamics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/megabetplus
• Instagraminstagram.com/megabetplus
• Xx.com/megabetplus
• LinkedInlinkedin.com/company/megabetplus

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MEGABET PLUS