Amelco Review
6.2/10Founder-owned London engineer, started 2006 in low-latency market data, that sold Fanatics its sportsbook and PAM code base (Jan 2023), licenses the platform Hard Rock Bet develops in-house, runs Tote's fixed-odds book inside the client's own PAM (live Apr 2025), and carries UKGC 39791, seven US states, and Ontario supplier licensing into 2026.
Our read
- Fanatics purchased a copy of the core-code base for sportsbook and PAM in Jan 2023, against a $100M+ value expectation with the price undisclosed, and rolled it across the states it took over from PointsBet, while Hard Rock Bet runs an Amelco-derived platform it develops in-house.
- Five commercial structures: outright code sale, sub-licensing (Golden Matrix, Oct 28, 2020), client-run platform licenses, white label, and managed trading.
- Twenty years old, founder-owned with no outside capital, and cash-rich: £36.1M at bank in FY2023, up from £32.0M the year before.
- UKGC 39791 since Mar 27, 2015, seven US states including Maryland's contractor approval running to Jan 4, 2028, and an Ontario supplier license (Aug 2023).
- The Tote fixed-odds book covers 25 sports and about 25,000 live events a month running inside Tote's own PAM, with a 2025 racing upgrade behind it and Fitzdares also on the platform.
- New Jersey's DGE settled with Amelco for $10,000 in Dec 2024 after a prohibited political market in Mar 2022 and two in-state college basketball bets in Jan 2023 reached players through the PlayUp stack it powered.
- No Colorado operation today despite two Colorado vendor licenses, and the 2022-23 US client cohort is no longer in market.
- No pricing, no SLA terms, no published bet-builder, cash-out, or market-depth specifics, no public API docs, and no EU B2B license.
US challenger brands, tribal operators, and market-access holders that want the technology behind Fanatics and Hard Rock Bet with a path to taking code control in-house, plus UK racing-first and heritage books in the Tote and Fitzdares mold.
Operators that need a white-label license umbrella, EU-licensed supply today, or published pricing, SLAs, and product-depth numbers before a shortlist conversation.
Markets & licensing
Amelco has held UKGC account 39791 since Mar 27, 2015 and sits on Maryland's approved sports wagering contractor list from Jan 5, 2023 to Jan 4, 2028. Supplier and vendor registrations cover New Jersey (2018), Colorado (2020 and 2022), Indiana, Pennsylvania, Michigan, and Tennessee, and an Ontario AGCO supplier license landed in Aug 2023. Amelco does not currently operate in Colorado while holding two Colorado vendor licenses.
The 2022-23 US client cohort is no longer in market, the Fanatics and Hard Rock Bet platforms run independently by design, and Amelco does not operate in Colorado today.
Tote's fixed-odds book went live in April 2025 covering 25 sports and about 25,000 live events a month inside Tote's own PAM, Fitzdares runs on the platform after its 2024 switch from FSB, and the 2025 racing upgrade targets this market's Cheltenham-grade peaks.
- UK (UKGC)United Kingdom
- B2B supply through Amelco UK Limited · Account 39791 · licensed Mar 27, 2015
- Maryland Lottery and GamingMaryland
- Approved and operational Sports Wagering Contractor · Approved Jan 5, 2023 · expires Jan 4, 2028
- US state supplier registrationsNew Jersey, Colorado, Indiana, Pennsylvania, Michigan, Tennessee
- Software supplier and vendor registrations · NJ 2018 · CO Jul 2020 + a second by Oct 2022
- Ontario (AGCO)Ontario
- Gaming-related supplier license · Announced Aug 2023
Licensing tier: Licensed supply covers the UK, seven US states, and Ontario, and the 2026 European push starts with no EU license.
The client cohort from 2022-23 is no longer in market, so US presence today rests on Arkansas plus the independently run flagship stacks.
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.
Five routes into the same stack. Full end-to-end puts the operator on Amelco's proprietary PAM. The sportsbook also embeds into a client's own account layer, the way Tote runs its fixed-odds book from April 2025. White label ships ready-to-launch. Sub-licensing runs through the Golden Matrix agreement (Oct 28, 2020). And at the extreme, Fanatics bought a copy of the code base and took development in-house. Open APIs and a modular backend are the integration surface, with managed trading, Xtremepush CRM, Radar geolocation, and Paysafe payments attachable around the core.
Tote signed Aug 2, 2024 and went live with fixed-odds racing in April 2025, about eight months for an embedded build inside the client's own PAM.
Products & tools
One London-built stack sells as an end-to-end platform with its own PAM, a sportsbook embedded into the client's account layer, a white label, a managed trading service, and twice as the code itself: sold outright to Fanatics and licensed to Golden Matrix for sub-licensing to resellers.
Sportsbook Platform
An end-to-end betting platform carrying pre-match and in-play markets across all major sports, real-time odds and risk tooling, open APIs on a modular backend, full multi-currency support, and a proprietary in-house PAM that clients can take or skip.
- Runs both ways: full stack on Amelco's PAM, or embedded inside the client's own PAM the way Tote runs it
- The Tote book covers 25 sports and about 25,000 live events a month
- Racing product upgraded in 2025 with real-time feeds, dynamic race cards, and predictive pricing sized for Cheltenham and Grand National peaks
- Multi-tenant white-label generation shipped in 2017, on code lineage running back to the 2006 market-data libraries
White Label
Ready-to-launch white label, client-run platform licenses, sub-licensing for resellers, and in the Fanatics case an outright sale of a copy of the core-code base.
- Fanatics purchased the sportsbook and PAM code base, announced Jan 2023, with a $100M+ expected value and the actual price undisclosed
- Hard Rock Bet runs a licensed Amelco-derived platform it develops in-house
- Golden Matrix signed a Sportsbook Software License and Services Agreement (Oct 28, 2020) covering sub-licensing to resellers and operators
Trading Services
In-house trading specialists selling precision pricing, real-time market monitoring, and automated execution under a Global Head of Trading, with its own Sports Models/Feeds line and bought-in pricing where clients take it.
- Matt Parr leads as Global Head of Trading
- Own models carry the financial-markets heritage of the 2006 founding team
- Sportradar market feeds sat inside the Amelco-powered PlayUp stack
- Sporting Risk partnership adds pricing across Europe, the UK, South Africa, and North America
Retail Omnichannel
Retail and kiosk modules for operators running physical venues alongside the online book.
- Retail kiosks and the BetWildwood mobile launch ran at Wildwood Casino in Cripple Creek, Colorado (2019-2020)
- Kiosk modules remain in the solution line-up
- Omnichannel coverage spans betting shops, casinos, and hospitality venues
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.
Amelco was founded in March 2006 by financial-sector veterans as a low-latency market-data software house. The core libraries came first, a live in-play trading platform for betting customers followed in 2007, and the multi-tenant white-label sportsbook arrived in 2017. Ownership sits with the founding family: Damian and Natalie Walton hold 50 percent each, there has been no outside funding or M&A in 20 years, and cash at bank stood at £36.1M for FY2023. The company runs from London, Warsaw, and Pécs with a headcount around 222, and its US arm, Amelco USA, LLC, is owned equally by founder Damian Walton and Rob Miller.
Brands & clients on the platform
Corporate
Leadership
Milestones
- 2006
Founded in March, incorporated as Amelco UK Limited.
- 2007
Ships a live in-play trading platform for betting customers, the pivot from market data to betting technology.
- 2015
UKGC grants license 39791 (Mar 27).
- 2017
Launches the multi-tenant white-label sportsbook, the current platform generation.
- 2019-2020
Runs retail kiosks and the BetWildwood mobile launch at Wildwood Casino in Cripple Creek, Colorado.
- 2020
Takes its first Colorado vendor license (Jul) and signs the sub-licensing agreement with Golden Matrix (Oct 28), with New Jersey supplier status held since 2018.
- 2023
Fanatics announces the core-code purchase (Jan), Maryland approves Amelco as a sports wagering contractor through Jan 2028 (Jan 5), and Ontario's AGCO supplier license lands (Aug).
- 2024
Tote chooses Amelco for fixed-odds betting across 25 sports (Aug 2), Sporting Risk signs on as a pricing partner (Aug), Fitzdares runs on the platform after an April switch from FSB, and New Jersey's DGE settles with Amelco for $10,000 (Dec).
- 2025
Tote's fixed-odds book goes live (Apr) and the racing product gets its upgrade (Nov).
- 2026
Radar geolocation partnership for North America (Jan), Europe and esports declared expansion targets, and Alberta's market opening Jul 13.
Where they're pushing next
- Europe, the declared 2026 expansion target, starting with no EU B2B license
- Alberta, opening Jul 13, 2026
- Esports and next-gen iGaming, declared 2026 investment areas
- Further US states behind the Sporting Risk pricing partnership
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.
Amelco vs alternatives
Most buyers in this market shortlist three or four vendors long before they take a single sales call.
| Attribute | Amelco | OpenBet | Kambi | Aristocrat Interactive |
|---|---|---|---|---|
| Founded | 2006 | 1996 | 2010 | 2024 |
| Team | 222+ | 1,143+ | 1,000+ | 1,800+ |
| Sportsbook | Yes | Yes | Yes | Yes |
| Licenses | UK | UK | UK, Malta, Alderney +2 | UK |
| US market | Available | — | Available | — |
| Pricing | — | — | On request | — |
| Trading model | Hybrid | Dual | Managed | Managed |
| Bet builder | — | Own product | Own engine | — |
| Sports | 25+ | — | 100+ | — |
| PAM included | Yes | Yes | Yes | Yes |
Pricing & terms
Amelco quotes pricing per project. Here's how the model and the terms are structured.
Five structures: platform license, white label, managed trading, sub-licensing, and outright code sale
Turnkey
Path to launch
- 1Open with info@amelco.co.uk and name the commercial structure you want
- 2Bring your own operating license and map your target markets against Amelco's supply side
- 3Scope the stack split: full end-to-end on Amelco's proprietary PAM, or the sportsbook embedded into your own account layer the way Tote runs it
- 4Settle the trading setup: self-run on the risk tools or Amelco's managed desk with Sportradar and Sporting Risk feeds in the mix
- 5Go live and own the compliance seam per state: the New Jersey PlayUp settlement put supplier-level market-filtering errors in front of the regulator
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.