What Thethao88 does

Thethao88 (trading as 188BET and, since 1 July 2025, TAPTAP) is a privately held online gambling platform operating under Isle of Man licensee Cube Limited since 2006. The company targets Vietnamese and broader Asian consumers with a multi-vertical offering that combines pre-match and in-play sports betting (primarily football, plus esports and virtual sports), a live dealer online casino with six gaming halls (Baccarat, Dragon Tiger, Sicbo, Roulette, Poker), thousands of slot and progressive jackpot games, and number/lottery games. Distribution is direct-to-consumer through a localized Vietnamese-language website and native iOS (iOS 14+) and Android (8.0+) mobile apps distributed via QR code, supplemented by an affiliate/mirror-link network that compensates for the recurring blocking of primary domains in Vietnam.

Revenue is generated on a transaction/take-rate basis: the platform holds a stated 1–4% gross margin on sports handle (payout 97–99 versus competitors' ~95), earns a house edge on live casino and slot wagering, and operates VIP tiers with single-ticket limits up to $500,000 USD. Customer acquisition blends premium sports sponsorships (Liverpool FC, Bayern Munich, F1 Asia, Peter Schmeichel) at the top of funnel with affiliate partner sites and SEO/content marketing targeting Vietnamese-language search. Payments span local bank transfer, Momo, Zalopay, Help2pay, international e-wallets (Neteller, Skrill, Moneybookers), and cryptocurrency (BTC, USDC, USDT) — the latter explicitly marketed as anonymous. The company claims top-3 status by player volume in Asia and Vietnam specifically, employs 251–500 staff, and has no disclosed funding rounds, headcount growth trajectory, or financial metrics.

Name

Thethao88

Legal name

Cube Limited

Website

https://thethao88bet.net

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

251–500 employees

Short description

Thethao88, operating as 188BET and TAPTAP, is an Isle of Man-licensed online gambling platform founded in 2006 that serves Vietnamese and Asian consumers with sports betting, live casino, slots, and lottery products via website and mobile apps.

Ownership category

akta.pro rank

Product category

Online Gambling and Sports Betting

NAICS

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

akta.pro primary industry

iGaming Platform Providers (Turnkey/Casino & Sportsbook Platforms) (MPAEAKAA)

akta.pro secondary industries

Online Casino Platform Providers (PAM, Wallet, CMS, Back Office) (MPAEABAK), Digital Lottery & iLottery Platforms (Web/App) (MPAEAFAD)

Keywords

• Online sports betting
• Live casino games
• Slot games jackpot
• Esports betting
• Lottery number games

Headquarters

HQ city

Not disclosed

HQ country

Isle of Man

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Sports Betting Revenue: House takes spread on sports betting odds. Payout rates stated as 97-99 compared to competitors at 95, suggesting approximately 1-4% house edge on sports betting
2. Casino Gaming Revenue: Revenue from live casino games including Baccarat, Dragon Tiger, Sicbo, Roulette, Poker with professional dealers across 6 gaming halls
3. Slot Games and Jackpots: Revenue from slot games and progressive jackpot games provided by Play'n GO, Playtech, Pragmatic Play, Microgaming. Jackpots reach hundreds of millions of VND
4. Cashback and Promotions: Cashback programs: 0.38% on sports, 0.76% on casino. First deposit bonus 100% up to 1,500,000 VND. Free 100k bet for new users. Promotional costs offset by player deposits and activity

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Thethao88 (operating as 188BET/TAPTAP) is an online gambling platform offering real-time sports betting (football, esports, virtual sports), a live dealer online casino across 6 gaming halls (Baccarat, Dragon Tiger, Sicbo, Roulette, Poker), slot games with progressive jackpots, and number/lottery games. The platform is operated by Cube Limited under an Isle of Man Gambling Supervision Commission license and serves Vietnamese consumers via web and mobile applications with localized payments including crypto.

Product overview

Thethao88 (operating as 188BET/TAPTAP) is an online gambling platform offering a unified multi-product portfolio centered on sports betting and casino gaming. The core offering consists of online sports betting (including football, esports, and virtual sports), a live dealer online casino with multiple gaming halls, slot games with progressive jackpots, and number/lottery games. The platform operates as a web-based service with companion mobile apps for iOS and Android. Key differentiators include higher payout odds (97-99 vs industry standard of 95), VIP betting up to $500,000 per ticket, 24/7 customer support, and multiple payment integrations including local e-wallets, bank transfers, and cryptocurrency options.

Differentiator

Problem solved

Functional benefit

Products and services

• 188BET / TAPTAP Sports Betting Online sports betting platform offering thousands of daily football betting odds, esports betting on LOL/Dota2/CS:GO, virtual sports, and real-time in-play betting with odds higher than competitors (97-99% payout vs ~95%). Maximum bet per ticket reaches up to 500,000 USD for VIP players. Targeted at Vietnamese sports bettors.
• TAPTAP Live Casino (188BET Online Casino) Live dealer online casino with 6 halls offering hundreds of table games including Baccarat, Dragon Tiger, Sicbo, Roulette, and Poker, streamed live with professional dealers. Targeted at Vietnamese online casino players seeking an authentic live casino experience.
• Slot Games and Progressive Jackpot Online slot games including jackpot slots with progressive prizes reaching hundreds of millions of VND. Games sourced from third-party providers Play'n GO, Playtech, Pragmatic Play, and Microgaming. Targeted at Vietnamese slot and jackpot players.
• Number Game / Lottery / Keno Number games, lottery, lotto, and keno games with multiple betting types and markets available for Vietnamese players.
• 188BET / TAPTAP Mobile App (iOS and Android) Mobile applications for iOS (iOS 14+) and Android (8.0+) enabling Vietnamese users to bet on sports, play casino games and slots, manage accounts, deposit, and withdraw directly from mobile devices. Distributed via QR code download after account registration.

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered flagship, core and minor.

• Liverpool FCflagshipGTM or Marketing PartnerOfficial betting partner of Liverpool FC in Asia. Major sponsorship relationship providing brand visibility and credibility in the Vietnamese and Asian markets through association with the prestigious English football club.
• Bayern MunichcoreGTM or Marketing PartnerRegional official partner of Bayern Munich. Provides branding and marketing rights in the Asian market through association with the German football powerhouse.
• F1 Racing (Asia)flagshipGTM or Marketing PartnerMain sponsor of F1 racing events in Asia. Provides exposure to motorsport enthusiasts across the region, diversifying the brand's sporting associations beyond football.
• Peter SchmeichelcoreGTM or Marketing PartnerFormer Manchester United goalkeeper and football legend serving as brand ambassador for 188BET in Asia. Brings credibility and name recognition to the brand among football fans.
• Manchester City (Historical)minorGTM or Marketing PartnerPrevious partnership with Manchester City football club, no longer active
• Wigan Warriors (Historical)minorGTM or Marketing PartnerPrevious partnership with Wigan Warriors rugby league club, no longer active
• Bolton Wanderers (Historical)minorGTM or Marketing PartnerPrevious partnership with Bolton Wanderers FC during Premier League era, no longer active

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• M88: Major Asia-focused online sportsbook and casino operator with similar Vietnamese-market orientation, overlapping product mix (sports betting, live casino, slots), and comparable local-payment integrations. Mentioned in the source data as a peer-affiliate link on the same portal.
• Dafabet: Asia-rooted online gambling operator offering sports betting, casino, and slots to similar emerging-market bettors with localized payment methods and affiliate-driven acquisition — a closely comparable business model to Thethao88/188BET.
• Fun88: Asia-facing online betting and casino platform with comparable sportsbook + live casino + slots offering, similar Vietnamese/Southeast Asian customer base, and parallel sponsorship-driven brand-building strategy.
• 1xBet: Large international online betting operator with strong Asia and emerging-market presence, offering sports betting, casino, slots, and crypto payments — overlapping heavily with Thethao88's product mix and payment-rail strategy.
• SBOBet: Established Asian online sportsbook with deep presence in football/soccer markets and similar in-play betting capabilities. Comparable in product breadth and customer profile, though licensed in different jurisdictions.
• W88: Asia-targeted sportsbook and casino operator with overlapping Vietnamese/Southeast Asian customer base, similar product mix, and parallel use of sports sponsorships (including Premier League clubs) for brand building.
• BK8: Southeast Asian-focused online betting platform with sportsbook, live casino, and slots offerings, directly competing for the same Vietnamese bettor pool and employing comparable sponsorship-led marketing.

Broad incumbents

• Bet365: Global incumbent online sportsbook and casino operator; not Asia-native but provides a benchmark for scale, in-play betting UX, and product breadth that Thethao88/188BET competes against for serious bettors in Asia.
• Pinnacle: Globally recognized sportsbook known for high payout/lower-margin model — directly comparable to 188BET's 97-99% payout positioning — and operates a much broader geographic footprint, providing a benchmark for the high-payout Asian sportsbook playbook.

Emerging players

• 22Bet: Emerging-market-focused online sportsbook and casino with extensive payment-method breadth including crypto, competing in similar Asian and emerging geographies with comparable mass-market positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/thichmebongda

Compliance2 records

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 Thethao88