Cepeg
F168 (under Cepeg) is a Vietnam-based online gambling platform founded in 2017 that serves millions of individual retail bettors across Asia across casino, sports betting, slots, lottery, and esports under PAGCOR, Isle of Man, and First Cagayan licenses.
- Company typePrivate
- Founded2017
- HeadquartersHanoi, Vietnam
- Headcount1–10
- GTM typeB2C
- OfferingServices
What Cepeg does
Cepeg, operating the F168 brand, is a Vietnam-domiciled online gambling and betting platform founded in 2017 that serves individual retail bettors across Asian markets, with primary concentration in Vietnam. The platform aggregates eight product categories behind a single account: live dealer casino, sports betting (sourced from providers CMD, SABA, UG, SBO, IM, CR, FB), slot games, online lottery (including speed lottery and Keno), fish shooting, card games, esports, and racing betting. The technical stack is described as cross-platform (web plus iOS and Android applications) with 128-bit SSL encryption, blockchain integration, and marketing claims of AI-powered game development, though no proprietary AI assets are documented.
F168 monetizes via the house edge on distributed player wagers across all product verticals, supplemented by a tiered agent/affiliate network offering 35-60% commissions and an April 2024-launched member referral program offering up to 5% commission on first deposits of referred users. New players are acquired through first deposit bonuses of up to 18,888,000 VND (with a 100,000 VND minimum deposit threshold), daily check-in rewards, and a multi-channel marketing mix spanning social media (Twitter, Pinterest, YouTube), content marketing via gaming guides, and the agent network. The platform claims to serve millions of players across Asia, with 2.3M+ registered accounts documented in Quang Ninh province alone by early 2023.
The company operates under three gaming licenses (PAGCOR, Isle of Man Gambling Supervision Commission, First Cagayan) and is structured as a subsidiary under UK-headquartered parent OKVIP. Founder and CEO Trần Nguyễn Tuấn Khanh, an IT graduate of Hanoi University of Posts and Telecommunications, leads the company. No venture capital, private equity, or public market investment is referenced in available materials, and revenue is not publicly disclosed. Note: the firmographic layer attributes 5 employees to Cepeg in Birmingham, UK, which is inconsistent with the operational scale described for F168 in Vietnam and suggests data layer misalignment.
Cepeg firmographics
Firmographics- Name
- Cepeg
- Legal name
- F168
- Website
- https://cepeg.org.uk
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- F168 (under Cepeg) is a Vietnam-based online gambling platform founded in 2017 that serves millions of individual retail bettors across Asia across casino, sports betting, slots, lottery, and esports under PAGCOR, Isle of Man, and First Cagayan licenses.
- Ownership category
- akta.pro rank
Cepeg industry classification
Industry- Product category
- Online Gambling
- NAICS
- Casinos (except Casino Hotels) (71321), Gambling Industries (7132)
- 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), Online Poker Operators (Real-Money) (MPAEAEAC)
Keywords
Where Cepeg is headquartered
LocationHeadquarters
- HQ city
- Hanoi
- HQ country
- Vietnam
- HQ region
- Asia
Offices3 records
Markets served
Cepeg business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Marketing or Sales, Personnel, Operations, Technology or R&D, Infrastructure
Revenue model
- Gaming Transaction Fees: Revenue generated from player bets across casino, sports betting, slots, fishing games, and lottery products. The platform takes a house edge on all gaming transactions.
- Agent Program Commissions: Commissions paid to affiliate agents who recruit new members. Commission rates range from 35% to 60% based on agent tier and number of valid referrals.
- First Deposit Bonuses: Revenue from initial deposits as players must deposit funds to participate in games. Bonuses up to 18,888,000 VND are offered for first deposits.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | One time | First deposit bonus up to 18,888,000 VND |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Cepeg product offering
Product offeringCore offering
Cepeg's source material describes an online gambling platform (F168) providing a unified ecosystem of casino, sports betting, slots, online lottery, fish shooting, card games, esports betting, and racing betting accessible via web and mobile. Revenue is generated through house-edge gaming transactions, with customer acquisition supported by an agent/affiliate program and promotional bonuses. The platform is licensed by PAGCOR, Isle of Man, and First Cagayan.
Product overview
F168 is an online entertainment platform offering a unified gambling ecosystem. The platform integrates multiple product categories: Casino (live dealer games), Sports Betting (football, basketball), Slots Games (jackpot machines), Online Lottery (traditional and speed lottery, Keno), Fish Shooting, Card Games, Esports, and Racing Betting. Users can access all services through a single account on both web and mobile platforms.
Differentiator
Problem solved
Functional benefit
Products and services
- Casino Trực Tuyến (Live Dealer Casino) Live dealer casino games such as baccarat, poker, and blackjack with real-time gameplay and high payout rates for online players.
- Cá Cược Thể Thao (Sports Betting) Sports betting on football, basketball, volleyball and other sports, with multiple betting odds sourced from providers CMD, SABA, UG, SBO, IM, CR, and FB.
- Slots Game Online slot machine games with jackpot prizes reaching billions of VND, featuring various themes and bonus features.
- Xổ Số Trực Tuyến (Online Lottery) Online lottery offering including traditional lottery, speed lottery (xổ số siêu tốc), Keno, and Number Game options with high winning rates.
- Bắn Cá (Fish Shooting) Online fish shooting game with various weapon types (single gun, double gun, sniper, net launcher, bomb, electric) and diverse sea creatures.
- Game Bài (Card Games) Collection of card games including Tiến lên, Baccarat, Blackjack, Poker, Sâm lốc, and Ba cây combining traditional and modern gameplay.
- Esports Betting Competitive esports betting covering multiple game titles with various betting odds and match analysis.
- Đua Xe (Racing Betting) Racing betting on motorsport events with multiple bet types and competitive payout ratios.
Quantifiable outcome
- Millions of registered users across Asia
- +2 more outcomes
Companies that use Cepeg
Customer profileNamed customers2 records
Segments1 record
Ideal customer profiles1 record
Cepeg technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Cepeg partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core.
- OKVIPcoreOKVIP is the parent company controlling F168. F168 operates as a subsidiary under OKVIP's oversight, with OKVIP's headquarters in London, UK providing strategic direction and brand backing.
- PAGCOR (Philippine Amusement and Gaming Corporation)corePAGCOR is the Philippine government agency that licenses and regulates gambling operations. F168 holds a gaming license from PAGCOR, enabling legal online gambling operations.
- Isle of Man Gambling Supervision CommissioncoreThe Isle of Man regulator issues gambling licenses ensuring fair play and player protection. F168 holds a license from this UK-affiliated authority.
- First Cagayan Leisure and Resort CorporationcoreFirst Cagayan is a regulatory body in the Cagayan Economic Zone Authority (CEZA) that licenses online gambling operators. F168 holds a license from this Philippine organization.
- Game Providers (CMD, SABA, UG, SBO, IM, CR, FB)coreSports betting providers offering various sports betting products and odds across multiple sports categories including football, basketball, volleyball, and other international sports.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Cepeg competitors and assessment
Company assessmentDirect peers
- W88: Asia-focused online gambling operator offering sports betting, casino, slots, and lottery under PAGCOR-licensed operations. Directly competes with F168 for Vietnamese and Southeast Asian players using similar multi-product platform and agent/affiliate acquisition model.
- M88 (Mansion88): Asia-targeted online gambling and sportsbook operator with PAGCOR licensing and a multi-product platform. Competes head-on with F168 for Vietnamese and Southeast Asian players across casino and sports betting verticals.
- 188Bet: Asian online sportsbook and casino operator licensed by the Isle of Man and PAGCOR. Overlaps directly with F168 on licensing footprint, target markets, and product mix, making it a strong comparable for valuation benchmarking.
- VN88: Vietnamese-market-focused online gambling brand offering sports betting and casino products. Directly comparable to F168 given shared Vietnamese customer focus and similar multi-product positioning.
- Fun88: Established Asian online gambling brand offering casino, sports betting, and slots with PAGCOR licensing. Targets similar Southeast Asian customer base as F168 with comparable agent-distribution strategy.
- BK8: Asian-focused online gambling operator with casino, sports, and slots products targeting Vietnamese and Southeast Asian markets. Uses a similar agent/affiliate acquisition model and competes for the same player demographic as F168.
- Dafabet: Major Asian online gambling operator licensed in the Philippines and Isle of Man, offering casino, sports, and live dealer products. Highly comparable to F168 across product mix, licensing jurisdictions, and Asian market focus.
Broad incumbents
- OKVIP: Stated parent company of F168; a UK-headquartered iGaming group operating multiple gambling brands across Asia. Directly comparable as the umbrella entity controlling F168's strategic direction and licensing footprint.
- 1xBet: International online gambling operator with significant presence in Asia, offering sports betting, casino, and a broad product portfolio. Comparable to F168 in product breadth and multi-jurisdiction licensing approach, though with much larger global scale.
- Betway: Global online gambling brand with established Asia-Pacific operations, offering casino, sports, and esports under multiple regulatory licenses. Comparable to F168 in product breadth and regulatory diversification but operates at significantly larger scale.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Cepeg social profiles
Digital presenceCepeg compliance and trust
Trust signalCompliance4 records
Cepeg financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cepeg leadership team
Management profileNumber of profiles
Profiles1 record
Cepeg funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cepeg M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cepeg
What does Cepeg do?
Cepeg's source material describes an online gambling platform (F168) providing a unified ecosystem of casino, sports betting, slots, online lottery, fish shooting, card games, esports betting, and racing betting accessible via web and mobile. Revenue is generated through house-edge gaming transactions, with customer acquisition supported by an agent/affiliate program and promotional bonuses. The platform is licensed by PAGCOR, Isle of Man, and First Cagayan.
Is Cepeg a public or private company?
Cepeg is a private company. It is classified as unknown and is currently operating.
When was Cepeg founded?
Cepeg was founded in 2017. It employs 1 to 10 people.
Where is Cepeg based?
Cepeg is headquartered in Hanoi, Vietnam, in the Asia region.
How does Cepeg make money?
Three revenue lines are on record. Gaming Transaction Fees are the primary driver. The others are agent Program Commissions and first Deposit Bonuses.
Who are Cepeg's main competitors?
Direct peers on record are W88, M88 (Mansion88), 188Bet, VN88, Fun88, BK8 and Dafabet. Broad incumbents are OKVIP, 1xBet and Betway.
Does Cepeg have an API?
No public API is recorded for Cepeg.
What industry is Cepeg in?
Cepeg's product category is Online Gambling. Its primary akta.pro industry code is MPAEAKAA, iGaming Platform Providers (Turnkey/Casino & Sportsbook Platforms), with a secondary code of MPAEABAK, Online Casino Platform Providers (PAM, Wallet, CMS, Back Office). Its NAICS code is 71321.