Colossus Bets
UK-based betting company
From Wikipedia, the free encyclopedia
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]
| |
| Industry | Gambling |
|---|---|
| Founded | 2013 in UK |
| Founder | Bernard Marantelli, Zeljko Ranogajec |
| Headquarters | London, England |
| Key people | David O'Reilly (CEO) |
| Products | Sports betting, sports technology, pools betting |
| Website | www |
History
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]