Name

Global Risk Exchange

Legal name

QS88

Website

http://www.gref.io/

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Online Gambling

NAICS

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

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Peer-to-Peer Sports Betting Exchanges (MPAEAIAA)

Keywords

• Online gambling platform
• Sports betting services
• Live casino games
• Online lottery products
• Slot game lobby

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

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

Revenue model

1. Sports Betting: The platform generates revenue from sports betting on various sports including football, basketball, tennis, esports. Revenue comes from the margin (house edge) built into betting odds. Users place bets on match outcomes, and the platform retains a percentage of total wagered amounts.
2. Online Casino Games: Live casino and table games including Baccarat, Roulette, Blackjack, Poker, Dragon Tiger, Sicbo (Tai Xiu). Revenue is generated through house edge on each game round and transaction fees.
3. Lottery and Number Games: Online lottery products including 45-second instant lottery, 5-minute lottery, traditional lottery, Keno, and Vietlott. Revenue comes from the difference between prize payouts and betting amounts.
4. Slot Games (Jackpot): Slot game platform featuring games from providers like PP (Pragmatic Play), PG, FC, and internal QS88 slots. Revenue generated through house edge on slot spins with progressive jackpot contributions.
5. Cockfighting: Live cockfighting betting with various match types (cua sat, cua dao, don truyen thong). Revenue from betting margins.
6. Fish Shooting Games: Fish shooting arcade games from providers JDB, TP, JL, FC. Revenue generated from ammunition purchases and game entry fees.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Global Risk Exchange operates an online gambling and entertainment platform branded as QS88, offering sports betting, live casino, online lottery, slot games, fish shooting, and cockfighting products accessible via website and mobile applications. The platform generates revenue through house-edge margins on bets placed by Vietnamese-speaking consumers across multiple gaming verticals.

Product overview

QS88 is an online gambling and entertainment platform operating as a unified product with multiple integrated gaming modules. The platform consists of core products including Live Casino, Sports Betting (Thể Thao), Lottery (Xổ Số), Slot Games (Nổ Hũ), Fish Shooting (Bắn Cá), Cockfighting (Đá Gà), Poker, and Blackjack. Additional sub-brands include AE Sexy (live dealer casino), Nổ Hũ PG, Nổ Hũ PP, and Nổ Hũ FC QS88 which are integrated slot game lobbies. The platform also offers a mobile app for Android and iOS, and 24/7 customer support. Users access the ecosystem through a single account to participate across all gaming categories.

Differentiator

Problem solved

Functional benefit

Products and services

• Live Casino Live dealer casino games including Baccarat, Roulette, Blackjack, and Sicbo with real-time streaming for individual consumers seeking online casino entertainment.
• Sports Betting (Thể Thao) Sports betting platform covering football, basketball, tennis, and esports with various bet types including Asian handicap, European odds, and over/under for individual bettors.
• Online Lottery (Xổ Số) Online lottery platform offering ultra-fast draws (45 seconds to 5 minutes), traditional lottery, Keno, and Vietlott for individual consumers.
• Slot Games (Nổ Hũ) Slot game platform featuring various game providers including PP (Pragmatic Play), PG (PG Soft), and FC with progressive jackpot systems for individual players.
• Fish Shooting (Bắn Cá) Fish shooting arcade game with multiple providers (JDB, TP, JL, FC) and boss multipliers up to x2500 for individual arcade gaming consumers.
• Cockfighting (Đá Gà) Live cockfighting streaming platform with traditional and blade/spur variants, featuring 4K video quality for individual bettors interested in cockfighting.
• Poker Online poker game with Texas Hold'em variant, featuring multiple betting rounds (Pre-flop, Flop, Turn, River) for individual card game players.
• Blackjack Live dealer blackjack game with various betting patterns and pattern analysis capabilities for individual card game enthusiasts.
• QS88 Mobile App Mobile application for Android and iOS devices enabling access to all gaming platform features on-the-go for individual users.
• Customer Support 24/7 customer support service via live chat, hotline, email, and social media platforms (Telegram, Facebook, Zalo) for platform users.

Quantifiable outcome

• Over 10 years of market presence
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core.

• PP (Pragmatic Play)coreTechnology or IntegrationPP (Pragmatic Play) is a game provider supplying slot games to QS88. The provider is noted as consistently ranking in the top 3 globally for slot game development. Games feature 3D graphics, progressive jackpots, and Random Number Generator (RNG) fairness. Top titles include Gate of Olympus, Zeus vs Hades, and Sugar Rush 1000.
• PG (PG Soft)coreTechnology or IntegrationPG (PG Soft) provides slot games to QS88 featuring modern interfaces, high-quality 3D graphics, and claimed RTP of 99%. Games include Kho Bau Aztec, Duong Mat Chuoc, Quyet Chien Giai Thuong, and Mong Macau.
• FC (Fastwin)coreTechnology or IntegrationFC is an internal QS88 slot game brand as well as a fish shooting game provider. The platform features FC slot games with unique themes and FC-powered fish shooting with machine guns and auto-targeting features.
• AE SexycoreTechnology or IntegrationAE Sexy provides live casino games with young, attractive dealers. The collaboration brings Baccarat livestream, Dragon Tiger, Roulette, and Sicbo (Tai Xiu) games to QS88 with professional dealers and 4K streaming quality.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• W88: W88 is a long-established Asian online gambling and sports betting brand offering sportsbook, casino, slots, and live dealer products across Southeast Asia. It is one of the most direct comparables to QS88 in terms of product breadth, Asian-market focus, and sports-betting-led offering.
• M88 (Mansion88): M88 is a major Asian-facing online sportsbook and casino operator with deep Vietnamese and Southeast Asian market penetration. Its multi-vertical product suite (sports betting, casino, slots) closely mirrors QS88's positioning.
• Fun88: Fun88 is a Southeast Asia-targeted sports betting and casino platform offering sportsbook, live casino, slots, and virtual sports. Comparable to QS88 in regional focus, sponsorship-driven brand-building, and integrated gambling verticals.
• BK8: BK8 is a rapidly growing Asian online gambling operator covering sports betting, live casino, slots, and lottery. Its multi-market Southeast Asian footprint and product breadth closely parallel QS88's offering.
• Dafabet: Dafabet is a large Asia-focused online gambling brand combining sportsbook, casino, poker, and arcade-style games. It is a comparable multi-vertical gambling platform with similar Vietnamese-language and regional customer targeting.
• SV388: SV388 is one of the most prominent online cockfighting betting platforms operating across Southeast Asia, with live streaming of cockfighting matches. It is directly comparable to QS88's cockfighting vertical (Đá Gà).

Others

• AE Sexy (Asia Gaming / Sexy Gaming): AE Sexy is a live dealer casino game provider already integrated into QS88. It is an upstream content/technology supplier rather than a competitor, but is a direct ecosystem participant in the same live-casino supply chain.
• Pragmatic Play: Pragmatic Play is one of the largest slot and live casino content providers globally and supplies games to QS88's slot vertical. It is an ecosystem enabler and competitor to operators only at the content-supplier layer.
• PG Soft: PG Soft is a mobile-first slot game supplier that provides content to QS88's slot lobby. It is comparable as an upstream technology and content ecosystem participant rather than a direct gambling operator.

Broad incumbents

• Saba Sports: Saba Sports is an established Asian sportsbook platform and white-label provider serving multiple operators across Southeast Asia. It is comparable to QS88's sports betting vertical as both a competitor and a potential technology/payments partner.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks7 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/qs88band
• Xx.com/GRE_RISK

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors3 records

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 Global Risk Exchange