Online Sports Betting: How the Olympus Sportsbook Founders $8M Sale Highlights the Industry

He’s wanted in his home country of Kazakhstan
The Tribeca condo is on the market for $8 million, slightly less than what he paid for it

The high-stakes world of online sports betting is reflected in the fortunes of its founders. Anarbek Zhauyrov, the Kazakhstani national known for founding the Olympus online sportsbook, has put his lavish New York City condo on the market for $8 million. This price is a slight decrease from the $8.1 million he originally paid for it eight years ago. The condo is situated in the prestigious Tribeca neighborhood, a popular area for high-profile personalities, attracting attention and speculation about his reasons for selling.

Zhauyrov’s Olympus bet, which operates under a Curacao gaming license, is allowed to accept bets in Russia. However, it is regarded as a controversial operator in many Western European markets and is not accessible to bettors in North America, raising eyebrows about its legality and legitimacy.

Recent High-Value Listings in New York City

While the exact reasons for Zhauyrov’s condo sale remain unclear, it echoes a pattern among influential figures in the gaming industry who have recently listed their high-value real estate. For instance, Steve Wynn, another high-profile figure in this sector, recently reduced the selling price of his opulent penthouse by a staggering $20 million, highlighting the shifting landscape of luxury property in New York.

Zhauyrov’s Real Estate Empire

This Tribeca property is just one piece of Zhauyrov’s extensive portfolio, which reportedly includes multiple residential and commercial real estate holdings across the US. According to the Organized Crime and Corruption Reporting Project (OCCRP), he owns five apartments in New York City as well as a mansion in nearby suburbs, with the total value of his properties estimated at approximately $16.4 million in 2021 – a figure that is likely higher now.

A multi-million-dollar apartment located in Boston.
An office building and an apartment in Miami.
A high-priced apartment in Bal Harbor, Florida.

Prior estimates had placed his Florida properties’ worth at around $14.3 million four years ago, further emphasizing his significant investment in luxury real estate. Zhauyrov primarily resides in the US, where his income is likely supplemented by renting these properties.

Despite his wealth, Zhauyrov is not without controversy. Allegations in Kazakhstan indicate he is under investigation for tax evasion, adding a layer of scrutiny to his financial dealings. His wife and brother are officially listed as the owners of the companies controlling Olympus and related sportsbooks, leading some to believe this is a legal tactic aimed at distancing Zhauyrov from potential legal issues.

Zhauyrov’s Lifestyle and Public Image

A prominent figure on social media, Zhauyrov often showcases his extravagant lifestyle, which includes luxury travels to exotic locations such as Bora Bora and events with celebrities, including his appearances with famed football star Thierry Henry.

His collection of high-end automobiles includes models such as the Rolls Royce Phantom, which can fetch prices upwards of $613,000.
Regular posts display his appearances at extravagant events and lavish destinations, keeping him at the forefront of the social media spotlight.

In contrast to his glamorous public persona, his business practices and the legitimacy of his operations have raised many questions among regulators.

In summary, Anarbek Zhauyrov’s decision to sell his NYC condo appears to be a multi-faceted issue amidst his vast real estate portfolio, controversies over his business’s legality, and his high-profile lifestyle. His ability to navigate the complex world of online sports betting while under scrutiny speaks volumes about the current state of the gambling industry, especially as it adapts to increasingly rigorous regulations and public perception.