Blask: offshore brands dominate one-third of major regulated markets in Q3 2026
Study covers markets with CEB > $50M between July and September 2026.
Key Takeaways
- Blask finds offshore brands dominate one third of major regulated markets in Q3 2026.
- The study includes markets where the CEB indicator exceeded $50 million between July and September 2026.
- Licences issued at the end of July did not materially alter the market composition during the analysed quarter.
- Uzbekistan records the highest offshore presence and Play971 is the only licensed online operator in the United Arab Emirates, though its CEB share is modest.
Blask’s analysis places offshore betting brands as the dominant players in one third of major regulated markets during the third quarter of 2026. The study covers markets where the CEB indicator exceeded $50 million between July and September and where sports betting is legal, either independently or alongside casino gaming.
Key findings of the report
Blask estimates that one third of those regulated markets continue to be dominated by operators not locally regulated. The analysed period is July–September 2026; the first licences granted to bookmakers at the end of July would not have had time to materially change the situation during that quarter. The report uses the CEB indicator as the inclusion criterion.
Notable cases: Uzbekistan and the United Arab Emirates
Uzbekistan tops Blask’s ranking for markets with the largest offshore presence. In the United Arab Emirates the regulated online offer remains limited: Play971 appears as the sole internet operator licensed in the country. Demand for Play971 has risen significantly compared with early 2026, but its share within the CEB indicator remains modest.
Blask’s data underline the difficulty regulated markets face in consolidating a local offer against offshore brands even as those jurisdictions begin to develop their respective licensing frameworks. The report also covers situations where sports betting coexists with the casino segment in markets with high CEB.
Frequently Asked Questions
What period does Blask’s analysis cover?
Blask’s analysis covers the third quarter of 2026, namely July to September 2026. The study only includes markets where the CEB indicator exceeded $50 million during that period.
What criteria did Blask use to include markets in the study?
Blask included markets in which the CEB indicator surpassed $50 million between July and September 2026 and where sports betting is legal, either independently or together with casino gaming.
Which countries or cases does the Blask report highlight?
The report highlights Uzbekistan as the market with the largest offshore presence and the United Arab Emirates, where Play971 is the only licensed online operator; Play971’s share in the CEB indicator remains modest.
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About the author
Gonzalo Marín
Industry Deals Correspondent
Gonzalo Marín covers the corporate deal flow of gambling — operator strategy, M&A, regulated-market entries, and product launches. The reports open with the transaction, cite companies, valuations, and jurisdictions exactly as released, and keep the announcement apart from its actual effect. When a Latin American operator raises capital or a European brand lands in the region, Gonzalo Marín reports who signs, for how much, and on what terms.
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