What Third Wave Foundation does

W88 is an online betting and gaming platform founded in 2013, owned by Marquee Holdings Limited and headquartered in the Philippines under a license issued by First Cagayan Leisure & Resort Corporation (CEZA). The platform offers a multi-product ecosystem comprising sports betting (20,000+ monthly events across football, basketball, volleyball, tennis, table tennis, cricket, with pre-match and live in-play wagering), a live dealer casino featuring Baccarat, Blackjack, Roulette, and Sicbo streamed from European and Asian studios, a slot library of 10,000+ titles aggregated from providers including Microgaming, Playtech, Pragmatic Play, PG Soft, Play'n Go, Qtech, and BNG, peer-to-peer games, and lottery/Keno. Distribution is direct-to-consumer via the web (w88.mobi, w88.com), native iOS and Android applications, alternative-link domains (W888, WW88, W88 slot, W88 casino) designed to bypass regional network blocking, and an affiliate network (affiliate.w88viral.com).

The business operates a transaction-fee/take-rate model across all five verticals, monetizing bet volume rather than charging subscription or platform fees. Customer acquisition leans heavily on sports sponsorship marketing — Premier League shirt-sleeve deals with Wolverhampton Wanderers (2018-19), Leicester City (2018-20), Aston Villa (2019-20), Crystal Palace (2020-21), Fulham (2022-23), Burnley (2023-24), plus the Argentina national football team in 2022 — supplemented by brand ambassadors Emile Heskey (2018) and Brian Lara (2021). Payment rails include bank transfer, e-wallets (Neteller, Skrill), online gateways, and cryptocurrency. The platform supports 16 languages and 9 currencies and serves at least eight countries across China, India, Indonesia, South Korea, Malaysia, Thailand, Vietnam, and the United States.

W88 is privately held; no revenue, headcount, funding, or AI/ML capability is disclosed in the available data. No patents, third-party certifications, or named enterprise customers are recorded. The company's competitive position rests on aggregated content breadth, multi-currency/multi-language distribution infrastructure, CEZA-anchored regulatory standing, and brand recognition built through football sponsorships.

Name

Third Wave Foundation

Legal name

W88

Website

https://ihrfg.org

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

W88 is an online betting and gaming platform founded in 2013, operated by Marquee Holdings Limited from the Philippines under a CEZA license, serving Asian and Southeast Asian consumers with sports betting, live dealer casino, slots, P2P games, and lottery.

Ownership category

akta.pro rank

Product category

Online Betting and Casino

NAICS

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

akta.pro primary industry

Payments, Wallets & Cashiering for Sports Betting (MPAEACAG)

akta.pro secondary industries

E-Wallets & Stored-Value Accounts for Gaming (MPAEALAD), Crypto Payments & Digital Asset Settlement for Gaming (MPAEALAL)

Keywords

• Online sports betting
• Live dealer casino
• Online slot games
• Mobile betting app
• Lottery and keno

Headquarters

HQ city

Brooklyn

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Sports Betting: Commission from sports betting wagers across football, basketball, volleyball, tennis, table tennis, cricket and other sports. Offers betting on over 20,000 sporting events monthly with pre-match and live betting options.
2. Online Casino: Revenue from live dealer casino games including Baccarat, Blackjack, Roulette, Sicbo. Players interact with live dealers from Europe and Asia.
3. Slot Games: Revenue from slot machine games. Partners with game providers including Microgaming, Play'n Go, Qtech, Playtech, PG Soft, Pragmatic Play, BNG offering over 10,000 slot titles.
4. Lottery/Keno: Revenue from lottery betting including Keno, Lotto, Fast 3 and other lottery games.
5. P2P Games: Revenue from peer-to-peer gaming platforms.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

W88 is an online betting and gaming platform offering sports wagering on 20,000+ monthly events, live dealer casino (Baccarat, Blackjack, Roulette, Sicbo), more than 10,000 slot titles, peer-to-peer games, and Keno/Lottery. The service is accessible via website and dedicated iOS/Android apps, supports 9 currencies plus cryptocurrency, and operates under CEZA licensing in the Philippines.

Product overview

W88 is an online betting and gaming platform operating since 2013 under Marquee Holdings Limited, licensed by First Cagayan Leisure & Resort Corporation (CEZA) in the Philippines. The platform offers a unified multi-product ecosystem comprising Sports Betting (wagering on 20,000+ monthly sporting events), Online Casino (live dealer games including Baccarat, Blackjack, Roulette, Sicbo), Slot Games (10,000+ titles from providers like Microgaming, Playtech, Pragmatic Play), P2P Games, and Keno & Lottery. The platform is accessible via web and dedicated W88 Mobile Application for iOS and Android. W88 supports multiple payment methods including bank transfer, e-wallets, online payment gateways, and cryptocurrency.

Differentiator

Problem solved

Functional benefit

Products and services

• Sports Betting Wagering platform for sports betting on football, basketball, volleyball, tennis, table tennis, cricket and other sports, with pre-match and live betting options across more than 20,000 events per month, targeted at individual consumers in Asian markets.
• Online Casino (Live Dealer) Live dealer online casino offering Baccarat, Blackjack, Roulette, and Sicbo, streamed in real time from European and Asian studios with multi-angle video and live dealer interaction, for individual consumer players.
• Slot Games Online slot gaming featuring more than 10,000 titles from providers including Microgaming, Play'n Go, Qtech, Playtech, PG Soft, Pragmatic Play, and BNG, ranging from classic 3-reel slots to modern video slots with free spins, wilds, bonus features, and jackpot prizes, for individual consumer players.
• P2P Games Peer-to-peer gaming platform offering interactive games between players, for individual consumer players.
• Keno and Lottery Lottery betting platform offering Keno, Lotto, Fast 3 and other lottery games with competitive odds, for individual consumer players.
• W88 Mobile Application

Quantifiable outcome

• Fast transaction processing: deposits processed in 5-10 minutes, withdrawals in 30-60 minutes
• +1 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

16 partnerships are on record, tiered core, moderate and minor.

• MicrogamingcoreTechnology or Integration · 1 January 2025Game provider partnership delivering slot games and casino content to the W88 platform. Microgaming is a leading online gaming software provider.
• Pragmatic PlaycoreTechnology or Integration · 1 January 2025Game provider partnership providing slot games and casino content. Pragmatic Play is a major content provider for online casinos.
• PlaytechcoreTechnology or Integration · 1 January 2025Technology partnership with Playtech for gaming content delivery. Playtech is a prominent gambling software development company.
• PG SoftmoderateTechnology or Integration · 1 January 2025Game provider partnership delivering mobile-first slot games and casino content.
• Play'n GomoderateTechnology or Integration · 1 January 2025Slot game provider partnership for casino content on the W88 platform.
• QtechmoderateTechnology or Integration · 1 January 2025Gaming platform provider partnership for delivering casino and slot content.
• First Cagayan Leisure & Resort Corporation (CEZA)coreStrategic or Co-development Partner · 1 January 2025Licensing and regulatory partner. W88 operates under the license and management of CEZA, providing regulatory oversight and legitimacy for the online betting operations.
• Burnley F.C.moderateGTM or Marketing Partner · 1 January 2023Current sponsor for Burnley F.C. from 2023-2024. Active sponsorship partnership for brand marketing.
• Argentina National Football TeamcoreGTM or Marketing Partner · 1 January 2022W88 was a sponsor for Argentina's national football team in 2022, providing significant global brand exposure during major tournaments.
• Fulham F.C.moderateGTM or Marketing Partner · 1 January 2022W88 served as sponsor for Fulham from 2022-2023, maintaining presence in English football market.
• Brian LaraminorGTM or Marketing Partner · 1 January 2021Cricket legend Brian Lara served as brand ambassador for W88 in 2021, helping promote the brand particularly in cricket-loving markets.
• Crystal Palace F.C.moderateGTM or Marketing Partner · 1 January 2020W88 served as sponsor for Crystal Palace from 2020-2021, gaining visibility in Premier League and Asian markets.
• Aston Villa F.C.moderateGTM or Marketing Partner · 1 January 2019W88 was a sponsor for Aston Villa from 2019-2020, providing marketing and brand exposure through the club.
• Wolverhampton Wanderers F.C.moderateGTM or Marketing Partner · 1 January 2018W88 served as sponsor for Wolverhampton Wanderers from 2018-2019. This sponsorship provided brand visibility and marketing exposure through the football club.
• Leicester City F.C.moderateGTM or Marketing Partner · 1 January 2018W88 served as sponsor for Leicester City from 2018-2020. The partnership enhanced brand recognition in Premier League markets.
• Emile HeskeyminorGTM or Marketing Partner · 1 January 2018Former professional footballer Emile Heskey served as brand ambassador for W88 in 2018, promoting the brand to sports betting audiences.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• 1xBet: 1xBet is a global multi-product betting operator with strong presence across Asia, Africa, and Latin America, offering sports betting, casino, slots, and lottery. W88 and 1xBet overlap significantly in target markets (including Indonesia), aggressive bonus-led acquisition, and crypto-friendly payment rails.
• Fun88: Fun88 is an Asian-facing online betting and casino operator offering sports betting, casino, slots, and lottery with Premier League and Tottenham Hotspur sponsorships. Directly comparable to W88 in target market, product mix, and sponsorship-led brand strategy.
• Dafabet: Dafabet is an Asia-focused online sportsbook and casino licensed in the Philippines, offering sports betting, live dealer casino, slots, and lottery. It is one of W88's closest direct competitors in Southeast Asia and shares the same product mix, multi-currency strategy, and Premier League sponsorship playbook.
• SBOBet: SBOBet is a long-established Asian-focused online sportsbook and casino operator offering sports betting, live casino, and virtual games. Comparable to W88 in geographic focus, regulated Asian markets, and a multi-product platform under a single offshore license.
• 22Bet: 22Bet is a multi-vertical online sportsbook and casino with significant Asia and Eastern Europe exposure and a comparable casino-plus-sports product mix. Direct peer to W88 in offering breadth, multi-currency support, and promotional intensity.
• 188Bet: 188Bet is an Asia-focused online sportsbook and casino operator offering sports betting, live casino, and slots. Comparable to W88 in geographic focus (Southeast Asia), product mix, and offshore-licensed operations.
• Melbet: Melbet is a global online sportsbook and casino with significant Asian and CIS presence, operating a similar five-vertical product set (sports, casino, slots, lottery, P2P). Comparable to W88 in offering breadth, crypto support, and bonus-led acquisition in emerging markets.

Broad incumbents

• Betway: Betway is a global multi-licensed online sportsbook and casino offering sports betting, casino, and esports. Comparable to W88 in product mix and Asian marketing footprint, but operates under multiple tier-1 licenses rather than a single offshore license.
• Bwin: Bwin (part of Entain) is a European-rooted online sportsbook and casino with a regulated multi-jurisdiction footprint. Overlaps with W88 on sports betting and casino product mix but competes from a more mature regulated position rather than an offshore-licensed Asian model.
• Bet365: Bet365 is the largest globally regulated online sportsbook and casino operator, with deep product breadth and licensed positions in the UK, Australia, and several US states. W88 is materially smaller and less regulated but overlaps in product mix and in the same Asian consumer wallet.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/ihrfg
• Facebookfacebook.com/international-human-rights-funders-group-ihrfg-118783804838780
• LinkedInlinkedin.com/company/international-human-rights-funders-group

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 Third Wave Foundation