23WIN FISHING

What 23WIN FISHING does

23WIN FISHING is a privately held online betting and entertainment platform founded in 2018 and headquartered in Manila, Philippines, where it operates under a PAGCOR (Philippine Amusement and Gaming Corporation) gaming license. It functions as part of the OKVIP global betting conglomerate and is built on the HI88 integrated technology platform, which powers transaction processing (sub-3 seconds per transaction), data management, and security infrastructure. The platform serves individual adult bettors across Southeast Asia, with a primary focus on Vietnam (CEO David Phan oversees market operations) and additional agent networks in Thailand, Indonesia, and South Korea; delivery channels include HTML5 web, iOS, and Android applications.

The platform offers more than 3,000 games across seven core verticals: Live Casino (Baccarat, Dragon Tiger, Sicbo, Roulette, Poker), Card Games (Tiến Lên, Phỏm, Liêng, Xì Dách, Mậu Binh), Slots, Fishing Games, Sports Betting, Cockfighting, and Online Lottery. Its integrated ecosystem connects these product categories through a unified wallet and account system, supported by a 7-tier VIP membership program (Bronze through top tier), 1.5% daily cashback, a 188K welcome bonus, and multi-channel customer support via livechat, Telegram, Zalo, and hotline. Local payment integrations include ZaloPay, MoMo, Viettel Money, and crypto wallets; security and DDoS protection are provided via Cloudflare, AWS Shield, and Fireblocks.

Revenue is generated through transaction fees/commissions (the house edge) on betting volume, supplemented by VIP-tier economics and promotional incentives. Distribution combines self-serve digital access with a 550+ agent network across Asia and a 200+ partner ecosystem spanning security, payments, and game content (Pragmatic Play, Evolution, Gameplay Interactive, CQ9). Scale metrics reported by the company include $4.2B in 2024 betting volume, 18M weekly transactions, 320M+ monthly user operations, 2.1M daily visits, 65,000+ weekly active users, 78.6% three-month retention, and a 78%+ first-week return rate.

Name

23WIN FISHING

Legal name

23WIN

Website

https://23win.fishing

Company type

Private

Founded year

2018

Operating status

Operating

Short description

23WIN FISHING is a PAGCOR-licensed online betting platform founded in 2018 and operating across Southeast Asia. It offers 3,000+ games across casino, sports, slots, and lottery verticals via a HI88-powered stack, serving individual bettors primarily in Vietnam through a 550+ agent network.

Ownership category

akta.pro rank

Product category

Online Betting and Gambling

NAICS

Other Gambling Industries (71329)

akta.pro primary industry

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

akta.pro secondary industries

Game Aggregation, Content Distribution & RGS (Remote Game Servers) (MPAEAKAG), Cross-Border Payments & FX for Gaming (MPAEALAH), Gaming, Betting & Prize Winnings Payouts (FSAMAKAN)

Keywords

• Online betting platform
• Live casino gaming
• Sports betting services
• Slot games jackpot
• Cockfighting lottery betting

Headquarters

HQ city

Manila

HQ country

Philippines

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

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

Revenue model

1. Gambling/Betting Transactions: Platform takes commission from betting transactions across all game categories including sports betting, casino, slots, fishing games, lottery, and cockfighting. Revenue generated from house edge on wagers placed by users.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

23WIN FISHING operates as a comprehensive online betting and entertainment platform offering over 3,000 games across multiple categories including Live Casino, Card Games, Slots, Fishing Games, Sports Betting, Cockfighting, and Online Lottery. The platform aggregates third-party gaming content from providers such as Pragmatic Play, Evolution, Gameplay Interactive, and CQ9, and earns revenue through the house edge on user wagers. It is built on the HI88 technology stack with sub-3-second transaction processing and is accessible via web, iOS, and Android applications.

Product overview

23WIN FISHING operates as a comprehensive online betting and entertainment platform offering over 3,000 games across multiple categories. The platform is built on the HI88 technology ecosystem and provides a unified ecosystem from games to transactions. Core products include Live Casino (Baccarat, Rồng Hổ, Sicbo, Roulette, Poker), Game Bài (Tiến Lên, Phỏm, Liêng, Xì Dách, Mậu Binh), Nổ Hũ Slots (Mèo Chiêu Tài, Cleopatra, Tứ Linh), Bắn Cá (Bắn Cá Rồng Vàng, Hải Vương Đại Chiến), Thể Thao (football, basketball, volleyball, racing), Đá Gà (GA28, SV388, WS168), and Lô Đề Online. The platform is accessible via Website, iOS App, and Android App with full synchronization across all services including the integrated wallet system and user accounts.

Differentiator

Problem solved

Functional benefit

Products and services

• Live Casino Live dealer casino games streamed in Full HD with Vietnamese language support and real-time card dealing. Includes Baccarat, Rồng Hổ, Sicbo, Roulette, and Poker Casino. Built for adult online gamblers seeking authentic casino experiences with live dealers.
• Game Bài (Card Games) Traditional Vietnamese and Asian card games with fast betting processing and high win rates. Includes Tiến Lên, Phỏm, Liêng, Xì Dách, and Mậu Binh. Designed for players familiar with regional card game variants.
• Nổ Hũ – Slots (Progressive Jackpot Slots) Progressive jackpot slot games with stunning animations and large jackpot prizes. Includes Mèo Chiêu Tài, Cleopatra, Tứ Linh, Ăn Khét Trả Vàng, and Thắng Bầm. Targets slot enthusiasts seeking big-prize payouts.
• Bắn Cá (Fishing Games) 3D graphics fishing games with eye-catching effects and large coin rewards when combo-ing Bosses. Includes Bắn Cá Rồng Vàng, Hải Vương Đại Chiến, Thủy Cung Nổi Loạn, Săn Cá Thần Tài, and Cá Mập Siêu Tốc. Targeted at casual gaming audiences.
• Thể Thao (Sports Betting) Comprehensive sports betting platform with real-time odds updates across multiple sports and tournaments. Covers football, basketball, volleyball, table tennis, and racing. Built for sports betting enthusiasts.
• Đá Gà (Cockfighting) Live HD cockfighting streaming with no delay and multiple betting halls covering Southeast Asian matches. Available through GA28, SV388, and WS168 platforms. Serves traditional cockfighting betting audiences in Southeast Asia.
• Lô Đề Online (Online Lottery) Online lottery betting platform with various game types and betting options for users who prefer number-based lottery wagering.
• 23Win Mobile App Dedicated mobile application for iOS and Android devices enabling convenient betting anytime, anywhere. Supports full platform functionality including deposits, withdrawals, and all game categories. Designed for on-the-go users in Asian markets.

Quantifiable outcome

• Betting revenue of $4.2 billion USD in 2024
• +4 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

Integration11 records

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and major.

• HI88coreTechnology or IntegrationHI88 provides the core technology platform powering all 23Win operations including betting systems, result checking, data management, and security. This is the foundational technology layer enabling sub-3-second transaction processing and near-absolute accuracy. 23Win states it is operated by the core technology of the HI88 ecosystem.
• OKVIPcoreStrategic or Co-development PartnerOKVIP is the global betting conglomerate that owns and backs the 23Win brand. 23Win operates as part of the OKVIP global betting group, which provides strategic oversight and brand backing.
• PAGCOR (Philippine Amusement and Gaming Corporation)coreOthersPAGCOR is the Philippine government regulatory body that licenses and oversees 23Win operations. The platform operates under PAGCOR gaming license ensuring transparency and legal compliance.
• Pragmatic PlaymajorTechnology or IntegrationGame content provider offering slot games and live casino content to the 23Win platform.
• Evolution GamingmajorTechnology or IntegrationLive casino game provider supplying live dealer games to 23Win platform.
• Gameplay InteractivemajorTechnology or IntegrationGame content provider supplying various casino and betting games to the platform.
• CQ9 GamingmajorTechnology or IntegrationGame content provider supplying slot games and other casino entertainment to 23Win.
• ZaloPaymajorTechnology or IntegrationPayment partner enabling local payment transactions for Vietnamese users.
• MoMomajorTechnology or IntegrationE-wallet payment partner for processing deposits and withdrawals.
• Viettel MoneymajorTechnology or IntegrationTelecom-based payment service partner for transactions on the platform.
• CloudflaremajorTechnology or IntegrationSecurity and CDN provider ensuring website protection, DDoS mitigation, and global content delivery.
• AWS ShieldmajorTechnology or IntegrationAWS Shield provides advanced DDoS protection for the platform infrastructure.

Scale indicators14 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Dafabet: Asia-focused online betting brand offering sportsbook, casino, and live dealer across multiple SEA markets under a single Curacao-style offshore license. Comparable to 23Win on multi-market SEA focus and integrated casino + sportsbook platform model.
• M88 (Mansion88): Long-running SEA-focused sportsbook and casino brand targeting Vietnam, Thailand, and Indonesia with integrated wallet and live dealer content. Comparable to 23Win on product mix, target geographies, and agent-driven acquisition.
• Fun88: Asia-facing online sportsbook and casino operator with established presence in Vietnam, Thailand, and India. Comparable to 23Win on cross-product offering, localized UX, and reliance on regional agents for acquisition.
• W88: Pan-Asian online betting platform with strong Vietnam and Thailand presence offering sportsbook, casino, slots, and live dealer products. Highly comparable to 23Win on geography, product mix, and agent-driven acquisition model.
• VN88: Vietnamese-targeted online betting brand built specifically around the Vietnam market with localized content, payments, and language. Comparable to 23Win's primary Vietnam-centric go-to-market and product positioning.
• 12Bet: Asia-focused online sportsbook and casino operator with established presence in Vietnam, Thailand, and Indonesia. Comparable to 23Win on SEA target markets, multi-product offering, and offshore licensing approach.
• BK8: SEA-focused online betting operator covering sportsbook, casino, slots, and fishing games with localized payment rails. Closely comparable to 23Win on target markets (Vietnam, Thailand, Indonesia, Malaysia) and integrated multi-product platform.
• SBOBet: Asia-rooted online sportsbook and casino brand serving multiple Asian markets with strong football product. Comparable to 23Win on regional sportsbook focus and SEA market coverage, though more sportsbook-centric than 23Win's broad casino mix.

Broad incumbents

• 1xBet: Global online betting operator with extensive presence in Asia, offering sportsbook, casino, live dealer, and a very broad game library comparable in scale to 23Win's 3,000+ titles. Comparable as a large, multi-market, multi-product incumbent rather than a direct SEA-only competitor.
• Bet365: Global online betting incumbent with comprehensive sportsbook, casino, and live dealer products. Comparable to 23Win as a broad platform benchmark for technology investment, content breadth, and operational scale, though serving a very different geographic footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 23WIN FISHING