[2] Leovegas was founded in 2011 by Gustaf Hagman (CEO) and Robin Ramm-Ericson (Chairman of the Board & Managing Director).

[3] LeoVegas experienced rapid growth due to the overriding increase in smartphone use and the "mobile first"[4] mentality of its founders.

[11] At the time of launch, CEO of LeoVegas Gaming Ltd. Johan Styren stated that fast loading speeds and the mobile-first approach would be integral to growth in the live betting market for mobile.

[16] On 27 October 2017, LeoVegas acquired Royal Panda for a reported fee of €60m as part of the company's expansion into regulated markets.

[17] On 8 December 2017, LeoVentures acquired a 51% majority stake in GameGrounds United, owner of the Casino Grounds streaming network.

[citation needed] The online casino and sports betting products are licensed and regulated under the service of the Maltese Lottery and Gaming Authority (MGA).

[32] In the United Kingdom, the company operates in compliance with UK Gambling Commission requirements and in Sweden under the service of Spelinspektionen.

The LeoVegas sportsbook uses the Kambi platform for front end user interface, odds compilation and customer intelligence.

[35] On 19 June 2017, LeoVegas signed a two-year deal with EFL Championship club Brentford to become both their new shirt and title sponsor.

[39] In August 2021, Leo vegas announced its partnership deal with Esports data and technology company Abios.

The agreement allowed LeoVegas access to Abios’ real time widgets and apps to aid in user engagement with their esports offerings.

Specifically, 41 misleading adverts were identified that were sanctioned by the operator, as well as evidence of the mistreatment of customers at the end of their self-exclusion period.