Altenar Review
7.0/10Isle of Man and Malta sportsbook supplier that sells one managed-trading book four ways: as a module inside your own platform, as a turnkey, as a white label on the MGA B2B cover, or as a retail estate on 10,000+ locations.
Our read
- Licensed in four jurisdictions: MGA/B2B/582/2018 in Malta, UKGC 53306 in the UK, AGCO GRSM1240869 in Ontario, and ONJN Decision 54200/25.09.2018 in Romania.
- Module, turnkey, white label, and retail all come from the same vendor and the same trading desk.
- Retail at real scale: over 10,000 land-based locations on Altenar's own self-service betting terminals.
- Nineteen client case studies, from Wplay in Colombia to Lottoland, Golden Palace, and Palms Bet.
- Fifteen years under the same two founders, with the company still private and independent.
- The white-label umbrella is an MGA B2B critical-supply license that only covers .com markets, and the UK, Spain, Sweden, Greece, Romania, Ontario, Western Cape, and most US states stay places you license yourself.
- No published sports, event, or market counts, so depth cannot be compared on paper.
- The odds are feed-derived rather than compiled in-house, with Sportradar/Betradar the biggest supplier behind them, 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 that fit under the MGA B2B cover, and retail-heavy operators with shop networks to run.
US-focused operators, buyers who need published sports and market counts to compare depth, and tier-1 enterprises looking past a client list of regional champions.
Markets & licensing
Four registered jurisdictions carry the licensed footprint: Malta, the UK, Ontario, and Romania, with a Brazil certification from April 2025 on top. A wider .com estate rides the MGA B2B cover, and the company holds no US state registrations. The Malta license is B2B Critical Supply, which covers supplying operators and not operating as such.
Altenar markets a white label to US operators.
Altenar Technologies Limited (Isle of Man) holds UKGC account 53306 with combined remote operating license 000-053306-R-330805-001. The UK also leads the exceptions to the white-label umbrella, 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
- UK (UKGC)United Kingdom
- Combined remote operating license held by Altenar Technologies Limited (Isle of Man) · Account 53306 · license 000-053306-R-330805-001
- 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: A mid-size supplier footprint: four registers plus one product certification.
Deployment runs across more than 30 regulated markets, inside a wider estate of 50-plus territories, with the balance running as .com supply under the MGA B2B cover.
No state supplier registrations are held anywhere in the US.
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.
Weeks for the white label.
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.
- 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 client case studies
White Label Sportsbook
The fast route to market: launch in weeks under MGA/B2B/582/2018, a cover that stretches to .com and multi-jurisdiction markets and stops where a local license is required.
- Built for entrepreneurs, early-stage operators, and challenger brands
- From plan to product in weeks
- 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
- Revenue share or a fixed white-label fee
Retail Solution
Land-based betting on Altenar's own hardware: over 10,000 locations globally, served by its Self-Service Betting Terminal and a web-based application.
- Over 10,000 land-based locations globally
- 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
Longevity in this industry usually comes with a change of owner somewhere in it.
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. 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, with headcount over 600 in 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, with Betmotion and Brasil Da Sorte on the client list)
- US (marketed to operators, 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
Most buyers in this market shortlist three or four vendors long before they take a single sales call.
| Attribute | Altenar | Betby | Sportingtech | Delasport |
|---|---|---|---|---|
| Founded | 2011 | 2018 | 2010 | 2010 |
| Team | 600+ | 200+ | — | 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 | — | — | — |
| 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 |
Pricing & terms
Altenar quotes pricing per project. Here's how the model and the terms are structured.
For the white label, revenue share or a fixed fee
Turnkey
White-label
Path to launch
- 1Talk to sales and pick the model: sportsbook module into your PAM, turnkey on Altenar's PAM and CMS, white label, or retail
- 2Map the licensing route: your own license in regulated markets (the UK, Spain, Sweden, Greece, Romania, Ontario, Western Cape, and most US states), or the MGA B2B cover for .com scope
- 3Clear compliance and KYB with the licensing entities in Malta and on the Isle of Man
- 4Integrate: iFrame or API wiring into your host PAM for the module, or the full turnkey build
- 5Complete market certification where required, on the pattern of the Brazil sportsbook, RGS, and virtuals certification
- 6Go live with the 24/7 managed trading desk