Altenar Review
7.0/10Isle of Man and Malta sportsbook supplier selling the same managed-trading book four ways (module into your PAM, turnkey, white label, retail on 10,000+ locations), with the segment's cleanest register trail printed in its footer and no published coverage numbers anywhere.
Our read
Four delivery models, 10,000-plus retail locations with own SSBT hardware, an own Bet Builder, and the Brazil-certified virtuals stack, capped by a total absence of published sports, event, or market counts.
The segment's best register hygiene (live MGA seal Jul 2026, UKGC 53306, AGCO, ONJN, ISO 27001, Brazil certification Apr 2025), docked because the white-label umbrella is a B2B critical-supply license with .com-only scope.
A 24/7 managed desk with operator-side margin and limit controls, priced for feed-derived odds rather than an in-house compilation, though the dependency map is at least disclosed.
Fifteen founder-stable years with zero enforcement, docked for zero financial disclosure and no tier-1 operator above the regional-champion wall.
A documented connector record from Pragmatic Solutions to Broadway (June 2026) across four delivery modes with 19 named case pages, while the weeks-to-launch line comes with no case math and no docs or sandbox exist.
On-request pricing softened by an on-record fee shape (revenue share or fixed white-label fee) and a licensing blog that prices the own-license alternative, more buyer-usable than the fully hidden class.
Methodology. Our own score, a weighted average of six dimensions, tilted toward product and licensing. Scored on the sportsbook platform weighting, where product and coverage lead at 0.22 with licensing just behind at 0.20, a scale on which Altenar's register hygiene carries its best dimension while the missing coverage numbers cap the top line. Read the full methodology
- The cleanest register trail in the segment: the MGA seal for B2B/582/2018 verifies live (July 2026), and UKGC 53306, AGCO GRSM1240869, and ONJN Decision 54200/25.09.2018 all print in the footer with the holding entities named.
- Full model spread from one vendor, sportsbook module, turnkey with own PAM and CMS, white label, and retail, where Kambi and OpenBet sell no white label at all.
- Retail at real scale: over 10,000 land-based locations (July 2026), running on the company's own self-service betting terminals.
- Nineteen named case-study clients with dedicated pages, from Wplay in Colombia to Lottoland, Golden Palace, and Palms Bet, a client wall you can actually check.
- Fifteen years under the same two founders with zero regulatory actions and zero M&A churn (July 2026).
- The white-label umbrella is an MGA B2B critical-supply license that only covers .com markets, and Altenar's own blog names the UK, Spain, Sweden, Greece, Romania, Ontario, Western Cape, and most US states as places you still license yourself.
- No coverage numbers anywhere: sports, event, and market counts are published nowhere (July 2026), so depth cannot be compared.
- The odds are feed-derived rather than compiled in-house, with Sportradar/Betradar the biggest named supplier, so pricing depth rides the supplier contracts.
Licensed regional operators in Europe, LatAm, or Africa that want a module or turnkey book with the trading desk staffed for them, challenger .com brands taking the MGA B2B cover with the scope understood, and retail-heavy operators with shop networks to run.
US-focused operators (no access as of mid-2026), buyers who need published sports and market counts to compare depth, and tier-1 enterprises looking for proof above the regional-champion wall.
Markets & licensing
Altenar puts license numbers where most sportsbook vendors put adjectives. Both corporate entities and all four register references sit in the footer, and the MGA seal link resolves to a live Licensed status for B2B/582/2018 (July 2026). The map splits three ways: four registered jurisdictions (Malta, UK, Ontario, Romania) plus a Brazil certification from April 2025, a wider .com estate that rides the MGA B2B cover, and a US where the company holds no state registrations. The one wording to hold onto: the Malta license is B2B Critical Supply, so it covers supplying operators, never operating as such.
Altenar holds no US state supplier registrations (Jul 2026). It runs a White Label Sportsbook Solution for US Operators page and a for-the-US-market landing site (live July 2026), so read the US offer as positioning ahead of entry rather than availability.
Altenar Technologies Limited (Isle of Man) holds UKGC account 53306 with combined remote operating license 000-053306-R-330805-001 printed in the footer, register-indexed as of July 2026, with the activities breakdown not itemized in the footer listing. The UK also leads Altenar's own umbrella exceptions list, so a UK book means your own UKGC operating license with Altenar behind it as the B2B software supplier.
- Malta (MGA)Malta
- B2B Critical Supply license, Type 1 (casino) and Type 2 (fixed-odds betting including live), held by Altenar Software Limited · MGA/B2B/582/2018 · status Licensed · live seal Jul 2026
- UK (UKGC)United Kingdom
- Combined remote operating license held by Altenar Technologies Limited (Isle of Man) · Account 53306 · license 000-053306-R-330805-001 · footer + register-indexed
- Ontario (AGCO)Ontario, Canada
- Gaming-related supplier registration, Altenar's first North American entry · GRSM1240869 · obtained Aug 2022 · 14 markets already licensed at the time
- Romania (ONJN)Romania
- Class 2 supplier authorization · Decision 54200/25.09.2018
- Brazil certificationBrazil
- Sportsbook, RGS, and virtual sports certified for the regulated market · Announced Apr 23, 2025 · virtuals stack: Inspired, Kiron, Leap, Sportradar
Licensing tier: Four registers plus a Brazil certification is not the widest footprint in the segment, but nobody wears one better: numbers and entities in the footer, a live-verifying MGA seal, and an ISO 27001 certificate number you can look up. The ceiling is equally plain, nothing in the US and a .com estate riding a B2B license.
Deployment runs across more than 30 regulated markets beside a 50-plus territories map (July 2026), with the balance of the estate running as .com supply under the MGA B2B cover.
No state supplier registrations are held anywhere in the US (Jul 2026).
Sportsbook & verticals
A vendor's lineup often mixes its own builds with other companies' products plugged in. When the sportsbook is third party, a second company stands behind your contract.
Integrations & engineering
One contract and one API instead of a separate deal per studio, feed, or PSP. Here's what connects, how fast, and on what stack.
Four ways in. The sportsbook module ships by iFrame or API into an existing PAM, the turnkey brings Altenar's own PAM and CMS, the white label adds the MGA B2B cover for .com markets, and retail runs on the company's own self-service terminals. Behind every mode sits the same managed 24/7 trading and risk desk, pricing feed-derived odds while the operator keeps margin, limit, and bet-acceptance controls.
From plan to product in weeks for the white label (July 2026), with no documented timeline for the module or turnkey routes.
Products & tools
One managed-trading book sold four ways: a module for the PAM you already run, a turnkey on Altenar's own PAM and CMS, a white label under the MGA B2B cover for .com markets, and a retail estate on 10,000+ locations.
Sportsbook Module
The book alone, delivered by iFrame or API into an existing platform, with Altenar's 24/7 trading and risk desk behind it and margin, limit, and bet-acceptance controls left on the operator side.
- iFrame or API integration into the PAM you already run
- Own Bet Builder that combines selections into a single wager
- Bet Cards display feature shipped (2025)
- Widget-based front end built for fast reskins, with esports widgets
- Player Specials, instant markets, and live streaming via official data partners
Turnkey Sportsbook
The full build: Altenar's sportsbook on its own integrated PAM and CMS, one contract for accounts, content, and the book, with the same managed trading spine underneath.
- Integrated PAM and CMS under the sportsbook
- Managed 24/7 trading and risk with operator-side margin, limit, and acceptance controls
- Virtual sports via Inspired, Kiron, Leap, and Sportradar integrations
- Esports on a DATA.BET feed plus micro-markets via nVenue and Kero Gaming
- Nineteen named case-study clients on the cases index (July 2026)
White Label Sportsbook
The fast route for entrepreneurs, early-stage operators, and challenger brands in the vendor's own words, launching in weeks under MGA/B2B/582/2018, a cover that works in .com markets and nowhere on Altenar's own exceptions list.
- Pitched at entrepreneurs, early-stage operators, and challenger brands (July 2026)
- From plan to product in weeks, with no case math behind it
- MGA/B2B/582/2018 cover for .com and multi-jurisdiction markets only
- Own license still required in the UK, Spain, Sweden, Greece, Romania, Ontario, Western Cape, and most US states per Altenar's own exceptions list
- Revenue share or fixed white-label fee, the only commercial shape published
Retail Solution
Land-based betting on Altenar's own hardware: over 10,000 locations globally by the vendor's count (July 2026), served by its Self-Service Betting Terminal with a web-based application.
- Over 10,000 land-based locations globally (July 2026)
- Own Self-Service Betting Terminal with a high-definition touchscreen
- Web-based terminal application that installs in any location
- Same managed trading desk as the online book
- Built for shop-network operators across LatAm and the Balkans
Platform & capabilities
Everything the product does out of the box. If a feature isn't listed, the vendor either doesn't offer it or doesn't say.
Risk maturity
Operators check this capability first, and depth varies enough between vendors to grade it.
The history
Sales decks get rewritten for every deal. A dated record doesn't.
Stanislav Silin and Dinos Stranomitis founded the company in 2011 as BetInAction and put the Altenar name on it in 2014. Fifteen years later the same two founders still run it, with no outside funding, parent, or acquisition anywhere, a rarity in a segment of ownership chains. The corporate structure splits two ways: Altenar Software Limited in Malta holds the MGA license, while Altenar Technologies Limited on the Isle of Man holds UKGC 53306 and the Ontario registration. Headquarters sit in Douglas with offices in Malta, Thessaloniki, Georgia, Brazil, and Uruguay, and the company publishes no financials, with headcount over 600 as of 2025.
Brands & clients on the platform
Corporate
Leadership
Milestones
- 2011
Stanislav Silin and Dinos Stranomitis found the company as BetInAction.
- 2014
The Altenar brand replaces BetInAction.
- 2018
Malta grants MGA/B2B/582/2018 (B2B Critical Supply, Type 1 and Type 2), and Romania issues ONJN Class 2 Decision 54200 (Sep 25).
- 2022
Ontario supplier registration GRSM1240869 arrives in August, Altenar's first North American entry, with 14 markets already licensed at the time.
- 2024
Retains Sportsbook Supplier of the Year at SBC Awards Latinoamérica for a second straight year.
- 2025
Brazil certifies the sportsbook, RGS, and virtual sports stack (Apr 23), and SiGMA Americas names Altenar Best Online Sportsbook Provider.
- 2026
Altenar Technologies files a US federal case against data supplier Sportradar over official-data access (Mar 31), then lands the Broadway Platform integration (Jun 4) and Sportsbook Supplier of the Year at SBC Americas.
Where they're pushing next
- Brazil (certified Apr 2025, Betmotion and Brasil Da Sorte already on the wall)
- US (aspirational: sales pages live with no state registrations held)
- Retail estates across LatAm and the Balkans on the SSBT line
Awards & recognition
Longevity and ownership
Switching vendors is expensive, which makes the company's staying power part of the purchase. What the contract says about your data decides how expensive an exit gets.
Altenar vs alternatives
No two vendors describe themselves the same way, which makes their own claims hard to line up. Every name here answers the same fields, so you can see where this one sits against the closest alternatives.
| Attribute | Altenar | Betby | Sportingtech | Delasport |
|---|---|---|---|---|
| Founded | 2011 | 2018 | 2010 | 2010 |
| Team | 600+ | 200+ | 350+ | 200+ |
| Sportsbook | Yes | Yes | Yes | Yes |
| Licenses | Malta, UK, Ontario +1 | Malta | Malta, Curacao | Malta, UK, Sweden +1 |
| US market | Restricted | Restricted | Restricted | Restricted |
| Pricing | On request | Not published | Not published | Not published |
| Trading model | Managed | Managed | Managed | Managed at every tier |
| Bet builder | Own | Offered | Same-event multi | Own |
| Sports | — | 125+ | 100+ | — |
| PAM included | Yes | No | Yes | Yes |
The take: Betby is the disclosure inverse, publishing coverage numbers with nothing near this license trail, while Altenar prints every register number and no counts. Sportingtech is the LatAm turnkey rival with a Brazil-and-Peru cadence and published coverage figures, but no UKGC or Ontario anywhere. Delasport matches the MGA white-label-plus-turnkey shape with strong registers of its own and carries the segment's heaviest trust file where Altenar's is clean. Pick Altenar when register hygiene, model flexibility, and retail matter more than published depth.
Pricing & terms
Altenar quotes pricing per project. Here's how the model and the terms are structured.
Revenue share or fixed white-label fee (Jul 2026), nothing further published
Turnkey
White-label
Support & account management
You can't demo service before you sign, so what a vendor puts in writing is the only floor you can hold it to.
Frequently asked
The things operators actually ask before signing.
Can I run under Altenar's license instead of getting my own?+
Only in .com and multi-jurisdiction markets. The license behind the white label is MGA/B2B/582/2018, a B2B Critical Supply authorization (Type 1 casino plus Type 2 fixed-odds betting) that permits supplying gaming services to operators, and as a cover it functions solely where no local licensing requirement exists. Altenar's own exceptions list names the UK, Spain, Sweden, Greece, Romania, Ontario, South Africa's Western Cape, and most US states as markets where you obtain your own approvals regardless of the technology partner. There is no B2C umbrella here.
Can US operators use Altenar?+
Not as of mid-2026. Altenar holds no US state supplier registrations. The White Label Sportsbook Solution for US Operators page and the for-the-US-market landing site running on altenar.com (live July 2026) are positioning ahead of entry, so treat the US offer as aspirational until state registrations exist.
What does an Altenar white label cost?+
Nothing is published. The one shape that exists comes from Altenar's own licensing blog (July 2026): the white label replaces direct licensing costs with revenue share or a fixed white-label fee. The same post prices the alternative route, six-figure costs for a UK license and tens of thousands of euros in Spain or Sweden, which is the closest thing to published economics Altenar offers. Setup fees, revenue-share bands, minimums, and contract lengths all stay inside the deal.