Phoenix Enterprise Solutions

What Phoenix Enterprise Solutions does

Phoenix Enterprise Solutions is the operating entity behind the 188BET/Taptap online betting and casino gaming platform, which targets online gambling consumers in Southeast Asian markets. The platform offers a multi-vertical product suite spanning sports betting, esports wagering, live dealer casino, lottery, jackpot slots, cock fighting, fishing games, and card games. The underlying entity, CyberArena Ltd. (Belize registration 34056), operates the platform under an Anjouan/Comoros regulatory framework, with a Vietnam-facing contact address at 198 Vo Van Tan, District 3, Ho Chi Minh City, and a U.S. mailing footprint in Canton.

The technology stack combines a web-based gambling portal (avarta.io) with native iOS and Android applications (188BET.MOBILE), fronting a betting engine with live odds, multiple casino lobbies, jackpot titles, and crypto-native payment processing. Deposit and withdrawal infrastructure supports USDT, TRC20, BTC, ETH, and XRP alongside fiat methods. Marketing assets include an official regional partnership with FC Bayern Munich and a localized Vietnamese-language content hub publishing betting guides and strategy articles. A visible on-site notice indicates that 188BET has ceased providing services in Vietnam and is redirecting users to a sister brand, Fun88, signaling an active regional repositioning.

Monetization is driven by net gaming revenue from player wagering across sportsbook and casino verticals, with a 100% first-deposit welcome bonus capped at 1.5 million VND deployed as a customer-acquisition lever and additional promotional offers used for retention. Distribution is fully direct-to-consumer via self-serve web and mobile channels, with no disclosed enterprise or B2B revenue. No funding rounds, management team, audited financials, orheadcount-time-series data were disclosed in the source material, limiting visibility into capital structure and growth inputs.

Name

Phoenix Enterprise Solutions

Legal name

CyberArena Ltd.

Website

https://phoenixsolutions.io

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Phoenix Enterprise Solutions operates 188BET/Taptap, a multi-vertical online betting and casino gaming platform serving Southeast Asian consumers with sportsbook, esports, casino, lottery, slot, and crypto-funded payment options.

Ownership category

akta.pro rank

Product category

Online gambling and sports betting

NAICS

Gambling Industries (7132), Other Gambling Industries (713290), Casinos (except Casino Hotels) (71321), Other Gambling Industries (71329)

akta.pro primary industry

Card & Alternative Payment Processing (PSPs, Acquirers, Aggregators) (MPAEALAA)

akta.pro secondary industry

Payments, Wallets & Cashiering for Sports Betting (MPAEACAG)

Keywords

• Online sports betting
• Casino gaming platform
• Live dealer casino
• Cryptocurrency gambling
• Esports wagering

Headquarters

HQ city

Canton

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Pricing tiers

Distribution channels2 records

Marketing channels2 records

Core offering

Avarta Capital PTE LTD operates the 188BET online gambling platform offering sports betting on global events, a live dealer and RNG casino (Baccarat, Blackjack, Roulette, Sicbo, slots) sourced from multiple third-party providers, esports wagering, and online lottery/number games. The platform supports multi-currency deposits and withdrawals including fiat (VND) and cryptocurrencies (USDT, BTC, ETH, DOGE), and is delivered through a website and dedicated mobile apps targeting Asian-market consumers.

Differentiator

Problem solved

Functional benefit

Products and services

• 188BET Sports Betting Sportsbook where users wager on global sporting events via pre-match and live in-play markets, with odds displayed and bets settled in fiat or crypto balances; targeted at recreational sports bettors.
• 188BET Live Casino Live-streamed dealer casino offering Baccarat, Blackjack, Roulette, Sicbo, Dragon Tiger, and other table games from providers including Evolution, SA Gaming, Asia Gaming, Pragmatic Play Live, and Microgaming; for players seeking a real-time casino experience.
• 188BET Online Slots and RNG Casino Slot machine and RNG table game library from providers such as Pragmatic Play, Microgaming, NetEnt, Playtech, Habanero, PG Soft, and CQ9; for slot players and casual casino users.
• 188BET Esports Betting Wagering product on competitive esports titles including Dota 2, League of Legends, CS:GO, and other tournaments; targeted at esports fans and younger betting demographics.
• 188BET Lottery and Number Games Online lottery, Keno, Togel, and number-game products offering frequent draw-based wagering; for users who prefer short-cycle, high-frequency lottery-style bets.
• 188BET Cryptocurrency Payments Cryptocurrency payment rail supporting USDT, BTC, ETH, and DOGE for deposits and withdrawals, in addition to fiat options like VND bank transfer and local payment methods; for users preferring crypto settlement or facing fiat restrictions.
• 188BET Mobile App Native mobile application for iOS and Android that delivers the full 188BET sportsbook, casino, slots, esports, lottery, and account management experience; for users preferring a mobile-native interface over the mobile web.
• 188BET VIP and Promotions Program Tiered VIP program offering cashback, reload bonuses, birthday rewards, and personalized service, alongside promotional offers such as welcome deposit bonuses (e.g., 100%, 188%) and free bet rewards; targeted at high-volume and newly registered players.

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• FC Bayern MunichcoreGTM or Marketing Partner188BET/Taptap is an official regional partner of FC Bayern Munich football club, providing sports betting sponsorship and marketing collaboration in Asian markets.

Recent moves6 records

Expansion highlights4 records

Direct peers

• Dafabet: Established offshore Asian-facing sportsbook and casino operator; competes head-to-head in sports betting, live casino, and cricket/football verticals across the same Southeast Asian customer base.
• 1xBet: Global online sportsbook and casino operator with extensive crypto payment support and broad sports/esports coverage; comparable in product breadth and crypto-cashiering emphasis.
• W88: Offshore Asian sportsbook and casino operator with multi-product offering and similar reliance on football club sponsorships for top-of-funnel marketing in the region.
• Fun88: Asia-focused online sportsbook and casino operator; 188BET's Vietnamese traffic is actively redirected to Fun88, signaling they are run by related management or as a sister brand serving overlapping Southeast Asian customers.
• BK8: Asia-targeted online sportsbook and casino with comparable product breadth (sportsbook, live casino, slots) and similar reliance on regional football sponsorships; closest direct competitor in scale and go-to-market.

Broad incumbents

• Pinnacle: Licensed global sportsbook known for sharp pricing and high-volume professional bettors; relevant peer for sports betting pricing/odds infrastructure rather than for the casino or regional marketing model.
• Betway: Global Tier-1 sportsbook and casino operator with regulated licenses and a similar multi-vertical offering; serves as a benchmark for what a scaled, licensed version of the same product set looks like.
• Bet365: Largest globally licensed online sportsbook; competitive reference point for sports betting product depth, pricing, and in-play coverage that Asian-focused offshore operators benchmark against.

Regional players

• CMD368: Asia-focused sportsbook and casino operator serving similar Southeast Asian customer base; comparable operating geography and product mix, with overlap in football-betting-led acquisition.

Emerging players

• Stake.com: Crypto-native global sportsbook and casino; directly comparable on crypto-first cashiering philosophy (BTC, ETH, USDT, XRP) and is the clearest benchmark for where crypto-led sportsbook acquisition economics can scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

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 Phoenix Enterprise Solutions