CRYSTALBAT LTD

What CRYSTALBAT LTD does

Crystalbet Ltd is a privately held, Georgian-licensed online gambling operator founded in 2011 and headquartered in Tbilisi, operating under Georgian government gambling license No. 9-05/218 19-04/34 19-03/266. The company serves adult Georgian consumers with an integrated product portfolio consisting of pre-match and live sports betting (football including Erovnuli Liga, basketball, tennis, and esports), an online casino (slots from EGT Digital/Amusnet, Pragmatic Play, and Play'n GO), and a live dealer casino powered by Evolution and Pragmatic Play Live. Distribution is omnichannel: a web platform at crystalbet-online.com, a native Android APK with a 2,000 GEL install-incentive, mobile-optimized interfaces for iOS, and a physical betting-shop network across 18 Georgian cities.

The technology architecture relies on third-party content providers rather than proprietary game development, paired with in-house platform integration covering KYC identity verification, payment-gateway connectivity to Georgian banks (TBC Bank, Liberty Bank, Bank of Georgia), PayBox cash terminals, ePay.ge, Qiwi, Visa/Mastercard via Payze, and USDT (Tether) crypto rails. Localized interfaces are delivered in Georgian, Russian, Turkish, and English. The business model is consumer-facing wagering revenue, monetized through take-rate and house-edge mechanics across sportsbook margins, slot GGR, and live-dealer GGR, with no explicit deposit/withdrawal fees. The company is a member of the Georgian Bookmakers Association and holds sports sponsorships with FC Dinamo Tbilisi (2020-2025) and FC Saburtalo.

Go-to-market is product-led and digitally anchored, supported by a two-stage welcome package (no-deposit bonus plus up to 500 free spins on first deposit), the Sports Cocktail express-bet loyalty promotion with a Range Rover grand prize, organic social channels (Facebook, Instagram, X), and an informational content portal for slot reviews and responsible-gaming information. The company is privately held with no disclosed institutional investors, funding rounds, headcount, or financial figures, and Levan Inasaridze is referenced as Chief Operating Officer.

Name

CRYSTALBAT LTD

Legal name

Crystalbet Ltd

Website

https://crystalbet-online.com

Company type

Private

Founded year

2011

Operating status

Operating

Short description

Crystalbet Ltd is a Georgian-licensed online gambling operator founded in 2011 that serves Georgian adult consumers with integrated sports betting, online casino, and live-dealer services via web, Android mobile app, and a physical betting-shop network across 18 cities.

Ownership category

akta.pro rank

Product category

Online Gambling & Sports Betting

NAICS

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

akta.pro primary industry

Real-Money Online Casino Operators (RNG Slots & Table Games) (MPAEABAA)

akta.pro secondary industry

Sportsbooks (Online & Mobile Operators) (MPAEACAA)

Keywords

• Sports betting
• Online casino
• Live dealer games
• Mobile gambling
• Georgian gambling operator

Headquarters

HQ city

Tbilisi

HQ country

Georgia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Marketing or Sales, Operations, Technology or R&D, Personnel, Supply Chain

Revenue model

1. Sports Betting: Commission-based sports wagering on pre-match and live events with competitive odds on football, basketball, tennis, and local Georgian leagues
2. Online Casino: House edge from slot games and table games including EGT Digital, Pragmatic Play, and Play'n GO titles
3. Live Casino: Real-time dealer games from Evolution and Pragmatic Play Live with house edge on roulette, blackjack, and baccarat
4. Wagering Requirements: Bonus wagering conditions generate revenue from unfulfilled bonus playthrough requirements

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Crystalbet Ltd operates a licensed online gambling platform in Georgia offering pre-match and live sports betting on football, basketball, tennis, and Georgian leagues, alongside an online casino with slots and a live dealer casino. The platform is accessible via web and an Android APK mobile application, supplemented by a physical network of betting shops across 18 Georgian cities. Services are delivered under Georgian government license No. 9-05/218 19-04/34 19-03/266.

Product overview

CrystalBet operates as a unified online gambling platform combining sports betting and casino gaming. The core offering consists of sports betting (pre-match and live with Cash Out), an online casino with slots from EGT Digital/Amusnet, Pragmatic Play, and Play'n GO, plus a live dealer casino from Evolution and Pragmatic Play Live. A dedicated Android APK mobile app extends full platform access. The product portfolio is complemented by a two-stage welcome package for new players and the Sports Cocktail loyalty promotion for regular sports bettors. Players can access services in multiple languages (Georgian, Russian, Turkish, English) across web and mobile platforms.

Differentiator

Problem solved

Functional benefit

Products and services

• CrystalBet Sports Betting Online sports betting platform offering pre-match and live (in-play) betting on hundreds of markets including football, basketball, tennis, hockey, volleyball, handball, esports (CS, Dota 2), and the local Georgian Erovnuli Liga. Features Cash Out, express (accumulator) betting, and competitive odds on international and Georgian sports events, targeting adult Georgian sports bettors.
• CrystalBet Online Casino Online casino offering slot games, table games, and progressive jackpots from licensed third-party providers including EGT Digital (Amusnet), Pragmatic Play, and Play'n GO. Popular titles include Burning Hot, Gates of Olympus, Sweet Bonanza, Aviator, JETX, and Reactoonz. Targeted at adult Georgian casino players seeking slot and table game entertainment.
• CrystalBet Live Casino Live dealer casino featuring real-time games from Evolution and Pragmatic Play Live studios, including Roulette, Blackjack, Baccarat, Sic Bo, and live game shows streamed in real time to players. Designed for adult Georgian players seeking an immersive, interactive casino experience with professional live dealers.

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

Integration9 records

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• FC Dinamo TbilisicoreStrategic or Co-development Partner · 1 January 2020Official sponsorship partnership with FC Dinamo Tbilisi football club during 2020-2025 period. Demonstrates commitment to supporting local Georgian sports and building brand awareness among football fans.
• FC SaburtalominorStrategic or Co-development PartnerSports sponsorship partnership with FC Saburtalo football club for brand promotion in Georgian football community.
• Georgian Bookmakers AssociationcoreOthersMember of the Georgian Bookmakers Association, the industry's self-regulatory body for licensed betting operators in Georgia.
• EGT DigitalcoreTechnology or IntegrationContent partnership for casino game integration. Crystalbet recently added 70 games from EGT Digital (now Amusnet) including Bell Link, High Cash, and Clover Chance series, as well as popular titles like Burning Hot and JETX.
• EvolutioncoreTechnology or IntegrationLive casino studio partnership providing real-time dealer games including Roulette, Blackjack, Baccarat, and game shows.
• Pragmatic Play LivecoreTechnology or IntegrationLive casino content partnership providing live dealer games alongside their slots portfolio.
• TBC BankcoreTechnology or IntegrationBanking partner for deposits and withdrawals via TBC Bank transfers for Georgian customers.
• Liberty BankcoreTechnology or IntegrationBanking partner for deposits and withdrawals via Liberty Bank transfers.
• Bank of GeorgiacoreTechnology or IntegrationBanking partner (Bank of Georgia / BoG) for customer deposits and withdrawals.
• PayBoxcoreTechnology or IntegrationPayment terminal partner enabling cash deposits starting from 1 GEL at PayBox terminals across Georgia.
• ePay.gecoreTechnology or IntegrationE-wallet partner for fast online deposits and withdrawals.
• PayzecoreTechnology or IntegrationPayment gateway provider enabling Visa and Mastercard card transactions on the platform.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Emerging players

• 1xBet: International online sportsbook and casino operator active across CIS and Caucasus markets; competes with Crystalbet in Georgia on sports betting and slots, particularly on promotional aggressiveness.
• Betwinner: Cis-focused online sportsbook and casino operator offering similar sports betting, casino, and live dealer products; overlaps with Crystalbet on Russian-speaking Georgian customers and crypto payment rails.
• Melbet: International online sportsbook and casino brand focused on CIS and emerging markets; comparable to Crystalbet on sportsbook product, multilingual interface, and bonus-driven acquisition strategy.
• Vbet: Sports betting and casino operator with active presence in Caucasus and CIS; comparable in product offering and target market overlap with Crystalbet, particularly on sportsbook depth.

Broad incumbents

• Flutter Entertainment: Global online gambling group (Betfair, PokerStars, FanDuel) with broad sportsbook and casino portfolio; an indirect comparable and potential strategic acquirer of Georgian-licensed assets like Crystalbet.
• Bet365: Global market leader in online sports betting and casino with Georgian-language product; competes with Crystalbet for premium Georgian sports bettors, though its scale and product depth dwarf the local operator.
• Kindred Group: Multi-brand online gambling operator (Unibet, 32Red, Maria) with European sportsbook and casino exposure; represents a strategic peer for international M&A optionality against smaller licensed Georgian operators.

Direct peers

• Adjarabet: Georgia's leading online gambling operator with sportsbook, casino, and retail shops; directly comparable to Crystalbet as the largest licensed Georgian operator serving the same customers with the same product mix.
• Betlive Georgia: Georgian-licensed sports betting and casino brand operating in the same regulatory regime; comparable in customer base, payment-rail integrations, and bonus economics to Crystalbet.
• Europebet: Licensed Georgian operator offering sports betting, online casino and poker; competes head-to-head with Crystalbet for Georgian players with a similar product portfolio and licensed retail/online channel mix.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/crystalbet
• Facebookfacebook.com/Crystalbetcom
• Instagraminstagram.com/crystalbetcom

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 CRYSTALBAT LTD