Agency sources said that BetVictor, which offers an online casino experience alongside sports betting, is talking to agencies via the intermediary Oystercatchers.
Chemistry meetings are expected to take place next week.
BetVictor has worked with Home since last year. The integrated agency has created a series of ads featuring the comedian and presenter Paddy McGuinness.
The pitch follows Victor Chandler’s decision to rebrand as BetVictor across all of its European operations in January.
Victor Chandler was founded in 1946 by the grandfather of the current chairman, who is also called Victor Chandler.
BetVictor’s most recent TV ad, starring McGuinness alongside Chandler, broke in January and launched the new brand.
It focused on McGuinness’ insistence that the brand needed a "gimmick" while Chandler reeled off a list of prices and offers that beat those of its competitors.
Chandler was the first operator to recognise the tax advantages of being based in Gibraltar, and the company grew into a multinational, called Victor Chandler International.