VCCP won the account in July after a four-way pitch overseen by Oystercatchers. The account moved from Home, which had worked on the business since 2011.
The campaign is based on the idea that "Nothing should get in your way" when gambling, and involves Chandler taking centre stage.
The campaign features Chandler telling excitable pundit 'Maurice', played by English comedian and actor Paul Kaye, to stop hassling him with crazy betting deals and simply go to BetVictor.com for the best odds.
Kaye made a name for himself in the mid-1990s as shock interviewer Dennis Pennis.
In its previous advertising, BetVictor has used TV presenter Paddy McGuinness, along with Chandler.
The campaign launches this week and will run across print, online, along with two 20-second TV ads showcasing the company's football and casino offerings.
Karl Riley, marketing director at BetVictor, said: "The campaign marks an exciting new directoion for the BetVictor brand. We've injected a truly unique personality into our communications, whilst renewing our focus on making the betting experience as enjoyable and easy as possible for our customers."
BetVictor offers an online casino experience as well as sports betting.
The company was founded in 1946 by the father of the current chairman, who was also called Victor Chandler.
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