Take context from the input text and decide on the accurate relationship between 'bwin' and 'sports betting' from the options provided.
Options: owned by, product/material produced, publisher, position held

Bwin, created by the merger of sports betting group bwin and online poker group PartyGaming in 2011, had a market value of about 816 million pounds as of Wednesday close, nearly triple that of GVC.
product/material produced