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Colossus Bets

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From Wikipedia, the free encyclopedia

Colossus Bets
IndustryGambling
Founded2013; 13 years ago (2013) in UK
FounderBernard Marantelli, Zeljko Ranogajec
HeadquartersLondon, England
Key people
David O'Reilly (CEO)
ProductsSports betting, sports technology, pools betting
Websitewww.colossusbets.com

Colossus Bets is a British bookmaker in pools betting, headquartered in London. The company was founded by Bernard Marantelli and Zeljko Ranogajec and launched in 2013,[1] and holds US patents covering cash-out and pools-betting functionality.[2]

History

[edit]

Colossus Bets was launched in the UK in 2013, initially providing solely football pools,[3][4] with Michael Owen as brand ambassador.[5] It later added horse racing, greyhound racing, American football, ice hockey, basketball and darts pools.[6]

In 2017, Colossus launched Syndicates, a product allowing users to share stakes and winnings.[7] It introduced horse racing pools in the UK in July 2018.[8]

Colossus Bets pools have been integrated into partner sites,[9][10] including Bet365,[11] Betway Africa and Dafabet.[12] In 2019, the company agreed a long-term licensing agreement giving Bet365 access to its US cash-out patent portfolio,[11][13] and was granted a totalizator licence by the Oregon Racing Commission.[14]

In August 2017, Colossus Bets entered into a partnership with 54 British racecourses in order to supply betting pools.[3] However, in May 2018 it was revealed that Zeljko Ranogajec was the principal backer of the company using the alias of John Wilson.[15][16] Subsequently, the consortium of 54 racecourses (Britbet) cancelled their arrangement with Colossus Bets in favour of The Tote.[17]

In October 2020, Marantelli left his role as chief executive and director,[18] remaining with the business in a consultancy role.[19] David O'Reilly was appointed as his successor.[20]

In May 2021 Esports Technologies Inc. (Nasdaq: EBET) announced an exclusive alliance with Colossus Bets.[21] Under the terms of the agreement Colossus Bets became a shareholder in Esports Technologies Inc.[22] Esports Technologies, by then renamed EBET, was delisted from Nasdaq in 2023 amid financial difficulties.[23][24]

In 2021, Colossus Bets filed patent-infringement proceedings against DraftKings in the United States[2] and against Tabcorp in Australia, alleging unauthorised use of its cash-out functionality.[25][26] In July 2022, a US magistrate judge in the District of Delaware recommended that seven of the eight patents in the DraftKings case be upheld as valid, while finding one patent invalid.[27] In November 2023, the United States Patent and Trademark Office referred a previously rejected DraftKings challenge to one of the patents to a rehearing panel.[28][29] In 2024, a new Patent Trial and Appeal Board panel revived the DraftKings challenge, finding that the original petition had been wrongly denied.[30]

In September 2024, Colossus Bets submitted a proposal to replace the Tote as the on-course pool betting provider at British racecourses, with the offer made to Arena Racing Company, the Jockey Club and the Large Independent Racecourses group.[31][32] The racecourses instead agreed a new deal with the UK Tote Group, running from November 2025 until at least the end of October 2030.[33]

In April 2025, The Wall Street Journal reported that company founders Marantelli and Ranogajec had organised a 2023 operation in which a syndicate purchased nearly every possible number combination in a Texas Lottery draw, winning a jackpot with a lump-sum value of US$57.8 million.[34][35] The win, together with controversy over online ticket couriers, contributed to 2025 legislation that abolished the Texas Lottery Commission and restricted bulk ticket purchases.[36]

In 2019, Colossus Bets launched Conscious Colossus, a charitable programme that has supported organisations including Alive and Kicking, the Greyhound Trust and the Young Gamers and Gamblers Education Trust (YGAM).[37]

References

[edit]
  1. ↑ "About | Colossus Bets". corporate.colossusbets.com. Retrieved 10 August 2023.
  2. 1 2 O'Boyle, Daniel (2 December 2021). "Colossus Bets sues DraftKings over cashout patent infringement". iGB. Archived from the original on 13 August 2022. Retrieved 10 August 2023.
  3. 1 2 Barber, Bill (17 August 2017). "Courses team up with Colossus Bets to 'transform' pool betting". Racing Post. Retrieved 13 February 2021.
  4. ↑ "Colossus Bets launches weekly £1m HDA15 football jackpot". SBC News. 14 August 2014. Archived from the original on 2 October 2014. Retrieved 14 February 2021.
  5. ↑ Stoker, Liam (10 September 2013). "Colossus Bets signs up former England striker Michael Owen". EGR Intel. Retrieved 13 February 2021.
  6. ↑ "Colossus Bets strikes deal with SIS for British & Irish greyhound racing". Yogonet International. Archived from the original on 21 January 2025. Retrieved 8 May 2023.
  7. ↑ Allen, Brad (15 February 2017). "Colossus Bets launches Syndicates betting product". EGR Intel. Archived from the original on 19 February 2017. Retrieved 14 February 2021.
  8. ↑ Cranham, Mark (12 July 2018). "No revolution but still a new start for pool betting as Betfred monopoly ends". Racing Post. Archived from the original on 13 October 2023. Retrieved 14 February 2021.
  9. ↑ Griffith, Mark (19 November 2015). "Matchbook launches Colossus Bets pools". InterGame. Archived from the original on 30 September 2022. Retrieved 13 February 2021.
  10. ↑ Evans, Jake. "RaceBets goes live with Colossus jackpots". EGR Intel. Retrieved 14 February 2021.
  11. 1 2 "Bet365 to license Colossus Bets' US cash-out patents". Gambling Insider. 30 September 2019. Archived from the original on 12 September 2024. Retrieved 13 February 2021.
  12. ↑ "Colossus Bets". Archived from the original on 27 October 2020. Retrieved 13 February 2021.
  13. ↑ "Bet365 targets US market with Colossus Bets cash-out". InterGame. 1 October 2019. Archived from the original on 13 November 2019. Retrieved 20 July 2026.
  14. ↑ "Colossus Bets obtains totalizator license in Oregon". www.yogonet.com. Archived from the original on 20 July 2019. Retrieved 13 May 2021.
  15. ↑ Souster, Mark. "Revealed: 'world's biggest gambler' is partner to new racecourse betting firm Britbet". The Times. ISSN 0140-0460. Retrieved 13 May 2021.
  16. ↑ McClymont, Kate (17 May 2018). "Meet the Joker: the Australian who is the biggest gambler in the world". The Sydney Morning Herald. Archived from the original on 4 July 2018. Retrieved 13 May 2021.
  17. ↑ "Tote, britbet Enter Standstill Period". Thoroughbred Breeding and Auctions. 12 June 2018. Archived from the original on 1 May 2021. Retrieved 13 May 2021.
  18. ↑ "Colossus Bets Confirms Bernard Marantelli CEO Departure". SBCNews. 14 October 2020. Archived from the original on 17 October 2020. Retrieved 3 June 2021.
  19. ↑ "Bernard Marantelli steps down as Colossus Bets CEO". EGR Intel. 14 October 2020. Retrieved 20 July 2026.
  20. ↑ Poole, Tim (14 October 2020). "David O'Reilly succeeding Bernard Marantelli as Colossus Bets CEO". gamblinginsider.com. Archived from the original on 18 October 2020. Retrieved 18 May 2026.
  21. ↑ "Esports Technologies Announces Exclusive Patent License Agreement, New Alliance with Colossus Bets". nasdaq.com. 20 May 2021. Archived from the original on 28 January 2022. Retrieved 26 December 2024.
  22. ↑ "FORM 8-K". quotemedia.com. 12 May 2021. Archived from the original on 28 January 2022. Retrieved 26 December 2024.
  23. ↑ "Form 25-NSE: Notification of Removal from Listing, EBET, Inc". U.S. Securities and Exchange Commission. 2023. Retrieved 20 July 2026.
  24. ↑ "July Stock Market Sweep: A bad month for esports companies as EBET nears Nasdaq delisting". iGaming Next. 2023. Retrieved 20 July 2026.
  25. ↑ Bolza, Miklos (27 July 2021). "Tabcorp sued for patent infringement over 'Cash Out on Quaddie' feature". Lawyerly. Retrieved 26 December 2024.
  26. ↑ "Colossus Bets files IP lawsuit against DraftKings and Tabcorp over cash-out feature". EGR North America. 2021. Retrieved 20 July 2026.
  27. ↑ Yasiejko, Christopher (19 July 2022). "DraftKings Bid to Nix Array of Patents Mostly Fails, Judge Says". Bloomberg Law. Archived from the original on 19 July 2022. Retrieved 18 May 2026.
  28. ↑ Holden, John (November 2023). "Analysis: DraftKings Scores A Win In Challenge To Cash Out Patent". Legal Sports Report. Archived from the original on 22 March 2023. Retrieved 20 July 2026.
  29. ↑ Thomas-Akoo, Zak (10 November 2023). "DraftKings' 'cash out' patent battle with Colossus could be reheard". "Dexsport Australia". NEXT.io. Retrieved 20 July 2026.
  30. ↑ "New PTAB Panel Revives DraftKings Patent Challenge". Law360. 2024. Retrieved 20 July 2026.
  31. ↑ Hughes, Matt (18 September 2024). "'Loch Ness Monster' of gambling bids to replace Winston Churchill's Tote". The Daily Telegraph. Archived from the original on 7 October 2024. Retrieved 20 July 2026 – via Yahoo Finance.
  32. ↑ Barber, Bill (September 2024). "Colossus Bets makes offer to Britain's racecourses to replace Tote as pool betting partner". Racing Post. Archived from the original on 19 November 2024. Retrieved 20 July 2026.
  33. ↑ Barber, Bill (2025). "Britbet and Tote extend partnership but talks with Arena Racing Company remain ongoing". Racing Post. Archived from the original on 22 January 2025. Retrieved 20 July 2026.
  34. ↑ Wallace, Joe; Sayre, Katherine (13 April 2025). "How a Secretive Gambler Called 'The Joker' Took Down the Texas Lottery". Wall Street Journal. ISSN 0099-9660. Retrieved 20 July 2026.
  35. ↑ Asch, Sarah (15 April 2025). "The two men behind the scheme that won a $57 million Texas lottery jackpot". Texas Standard. Archived from the original on 15 April 2025. Retrieved 20 July 2026.
  36. ↑ "Texas Lottery Commission to be disbanded as state game gets new restrictions". The Texas Tribune. 25 June 2025. Retrieved 20 July 2026.
  37. ↑ Narayan, Niji (26 July 2019). "Colossus Bets Launches "Conscious Colossus" Charity Initiative". European Gaming Industry News. Archived from the original on 27 November 2020. Retrieved 13 February 2021.
[edit]
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