Van Dalen BV

What Van Dalen BV does

HZ88 is an online gambling and entertainment platform founded in 2018, operating primarily across Southeast Asian markets including Vietnam, Philippines, Cambodia, and Singapore. The platform offers a multi-product ecosystem spanning live casino, sports betting, slot games, lottery, cockfighting, and fishing games, with 2,000+ game titles sourced from 20+ publishing partners including Evolution Gaming, Pragmatic Play, JILI Games, and PG Soft. Technical infrastructure includes multi-layer security architecture (SSL 256-bit encryption, biometric authentication, AI behavioral detection, blockchain ledger) and native mobile applications for iOS and Android alongside a responsive web platform.

The business operates on a transaction-fee revenue model, generating income through house edge on table games, daily cashback structures (1.2-1.8% across verticals), and progressive jackpot pools exceeding 10 billion VND. Distribution is product-led and direct-to-consumer via self-registration, with no field sales force. The platform holds regulatory licenses from PAGCOR (Philippines), Isle of Man GSC, and Malta Gaming Authority, and has integrated payment rails with 18+ Vietnamese banks plus e-wallet (Momo, ZaloPay) and cryptocurrency support. Marketing relies on content marketing, SEO, social media communities (1.2M+ weekly active accounts on Facebook and Telegram), and affiliate/referral networks.

The company has grown to 5+ million registered members with reported 150% annual user growth and 85% monthly retention, processing 50,000+ daily payment transactions. Founder-led under CEO Lưu Hồng Ký (Luu Hong Ky), the company signed $5 million USD in strategic partnership contracts with major game publishers in 2020 and launched its mobile application in 2024. Note: the input data attributes firmographics (Van Dalen BV, founded 1959, Huissen, Netherlands, 30 employees) to this company, which appears inconsistent with the HZ88 operational data and may indicate a data attribution error.

Name

Van Dalen BV

Legal name

HZ88

Website

https://vandalenbv.nl

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

HZ88 is an online gambling platform founded in 2018, serving 5+ million registered members across Southeast Asia with sports betting, live casino, slots, lottery, and cockfighting products. It operates under PAGCOR, Isle of Man, and Malta gaming licenses with integrated bank and e-wallet payment infrastructure.

Ownership category

akta.pro rank

Product category

Online Gambling and Entertainment

NAICS

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

SIC

Services-Miscellaneous Amusement & Recreation (7990)

akta.pro primary industry

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

Keywords

• Online gambling platform
• Sports betting services
• Live casino games
• Slot game offerings
• Online lottery wagering

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

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

Revenue model

1. Sports Betting Commission: Revenue from sports betting with daily cashback of 1.2-1.5% on total bets
2. Casino Gaming: Live casino operations with house edge on table games, 1.5% daily return rate
3. Slot Games/Jackpot: Slot machine and jackpot games with varying house edge, jackpot pool over 10 billion VND
4. Lottery/Lottery Numbers: Online lottery services with payout ratios up to 1:99.5 for traditional lottery
5. Cockfighting Wagering: Live cockfighting betting with 50-80 matches daily

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

HZ88 operates an integrated online gambling and entertainment platform offering sports betting, live casino, slot games, lottery, cockfighting wagering, fishing games, and card games through a single account. The platform serves 5+ million members across Southeast Asia with 2,000+ game titles from 20+ publishers, accessible via web and mobile apps. Revenue is generated through transaction fees, house edge on table games, and daily cashback programs up to 1.8%.

Differentiator

Problem solved

Functional benefit

Products and services

• Sports Betting Online sports betting platform offering odds and live betting across 3,000+ daily matches covering football, basketball, esports, and other major leagues. Sourced through partnerships with SABA Sports and CMD368. Available to adult registered members across Southeast Asia.
• Live Casino Live dealer casino operations featuring Baccarat, Blackjack, Roulette, and other table games streamed in HD/4K quality from studios. Sourced through partnerships with Evolution, Sexy Gaming, and Pragmatic Play. Operates 100+ live tables with 1.5% daily return rate.
• Slot Games and Jackpot Online slot games and progressive jackpot offerings from publishers including JILI Games, PG Soft, and Pragmatic Play. Features 3D graphics and high return rates (96.5-98.5%) with current accumulated jackpot pool exceeding 10 billion VND.
• Online Lottery Online lottery services including traditional 3-region lottery with 1:99.5 payout ratio and fast-draw formats with results between 45 seconds and 5 minutes. Sourced through partnership with Kingmaker.
• Cockfighting Wagering Live-streamed cockfighting betting product featuring 50-80 matches broadcast daily. Available to registered adult members across Southeast Asian markets.
• Fishing Games Online fishing arcade-style games where players shoot and catch fish for prizes, part of the HZ88 entertainment ecosystem. Available to registered members.
• Card Games Online card game offerings (game bài) accessed through the HZ88 platform, part of the multi-product gaming ecosystem for registered members.
• HZ88 Mobile App (iOS/Android) Native mobile applications for Android and iOS providing portable access to the full HZ88 gambling and entertainment ecosystem with single-account login across all product categories.

Quantifiable outcome

• 98.5% satisfaction rate on transaction speed (under 2 min deposit, 15-30 min withdrawal)
• +4 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Nine partnerships are on record, tiered core.

• Evolution GamingcoreTechnology or IntegrationLive casino gaming provider supplying live dealer games including Baccarat, Blackjack, Roulette with HD/4K streaming quality. Partnership provides authentic casino experience with professional dealers.
• SABA SportscoreTechnology or IntegrationSports betting platform providing odds and live betting coverage for thousands of daily matches across major leagues.
• CMD368coreTechnology or IntegrationSports betting partner offering competitive odds and diverse betting markets for online sports wagering.
• Sexy GamingcoreTechnology or IntegrationLive casino provider specializing in aesthetically designed live dealer games with professional croupiers.
• JILI GamescoreTechnology or IntegrationSlot game developer providing diverse slot portfolio with 3D graphics and massive jackpot pools. Developer of Mèo Tài Lộc and Nổ Hũ Thần Tài games.
• PG SoftcoreTechnology or IntegrationMobile-first slot game provider offering innovative slot titles with engaging gameplay mechanics and high RTP rates.
• Pragmatic PlaycoreTechnology or IntegrationMulti-product gaming provider supplying slots, live casino, and virtual sports with cross-platform compatibility.
• 18+ Vietnamese BankscoreChannel Partner/ Reseller/ DistributorPartnership with major Vietnamese banks including Vietcombank, VietinBank, ACB, BIDV, TPBank for seamless deposit/withdrawal processing.
• Momo, ZaloPay E-walletscoreChannel Partner/ Reseller/ DistributorElectronic wallet integration for fast and convenient payment processing alongside banking transfers.

Scale indicators14 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• W88: Pan-Asian online gambling operator with strong presence in Vietnam, Thailand, and Indonesia offering sportsbook, casino, slots, and lottery. Closely comparable on regional focus, multi-product strategy, and affiliate-led acquisition.
• Dafabet: Established Asian online gambling operator offering sports betting, casino, and slots with multi-jurisdictional licensing. Comparable on product breadth, regulatory footprint, and SEA focus.
• M88 (Mansion88): Asian online sportsbook and casino brand serving SEA and Vietnamese-speaking consumers. Comparable product mix and target customer base; competes for the same regional traffic pool.
• FB88: Vietnam-targeted online sportsbook and casino with strong SEA presence. Closely comparable in target market (Vietnamese-speaking users), product mix, and direct-to-consumer mobile model.
• Fun88: Asia-focused online betting and casino platform with multi-product offering and sports-sponsor-driven brand marketing. Operates in overlapping SEA markets with similar sportsbook + casino + slots mix.
• 188BET: Asia-focused online sportsbook and casino operator offering multi-product gambling (sports, casino, slots) to SEA consumers. Comparable in target market, product mix, and self-serve mobile/web distribution model.
• BK8: SEA-focused online casino and sportsbook operator with multi-product offering. Comparable on regional focus, product mix (sports, casino, slots), and self-serve digital distribution.
• 12BET: Asian online sportsbook and casino operator serving multiple SEA markets. Comparable product mix and target audience; competing for the same regional deposit-and-bet wallet pool.

Others

• Evolution Gaming: Listed live-casino content supplier to HZ88 (per partnerships data). Included as a peer because it is a key upstream technology partner — comparable in that it is part of the same iGaming value chain, though not a direct competitor.

Broad incumbents

• 1xBet: Larger global online gambling operator with broader geographic footprint than HZ88 but overlapping in SEA markets. Comparable on product breadth (sportsbook, casino, slots, lottery) and self-serve mobile model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/hz88
• LinkedInlinkedin.com/company/van-dalen-bv

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 Van Dalen BV