Valentyn Kyrylenko, VP of business development at sports betting and igaming technology provider Betinvest, explains the company’s strategy in emerging markets
We recently attended the Global Gaming Expo in Asia, which was very successful for our company.
Many of the operators wanting to start a sports betting business were interested in our Sportsbook iFrame, Data Feed and new Online Platform. At the moment, this region is a priority for us. There’s a big demand which we can meet with our advanced sports betting products. We know how this market works and what operators and players need there and as a next step, we plan to build strong partnerships with Asian operators.
We’re also branching out into the Latin American market. We’re continuing to visit exhibitions and conferences that cover regulatory updates and give advice on how to work effectively in the region. There are various ways to enter the market, but for now we’re at the research stage. We’re going to develop our B2B brand for this region but still need to find out more about player preferences, as well as needs and requirements for sports betting products. I don’t think it will take long, since these countries are constantly working on updates to the legalisation.
We’re continuing to explore the African market too, adapting our products to meet local needs and requirements. Our new platform is light on loading and has both a mobile version and an app. When we talk about African countries, it’s important to remember that the internet connection there is often poor. Our payment methods are always cutting edge, which is why we’ve integrated the Hexopay card processing solution for this region. Operators are provided with merchant accounts which connect the acquiring bank with Hexopay’s gateway. It ensures that transactions within this market are protected.
iFrame and its benefits
Betinvest’s Sportsbook iFrame is suitable for clients in any region. It’s the fastest and easiest way to integrate our sports betting products. If clients have their own platform, they can expand their business by incorporating sports betting into it.
Something that is important for operators from different regions is the adapted front end, odds formats and local events offered in the Sportsbook. The core part of the Sportsbook platform remains the same, but there are some additional options (tools and systems) that may be required, depending on the region.
Basically, iFrame is a means to integrate something into a web platform. In our case, that’s a Sportsbook and/or esports Sportsbook. It’s the fastest way to launch new products from scratch, or to expand an existing business by incorporating Betinvest data, for example. That’s the brilliance of this “plug-and-play” solution.
Regardless of the region they’re based in, all operators want, first and foremost, to meet their customers’ needs. That’s why in Asia it’s important to provide Asian handicaps, Malay, Indonesian or Hong Kong odds formats and specific calculation methods, tailored selections of markets and, of course, an adapted interface design. It must be suitable for the target country’s culture.
In the Latin American market, there are lots of lottery and keno game fans. These games are available locally and players are diverse in terms of age and gender. Football is also a big element of the culture across all the Latin American countries and is loved by many. Despite these factors, the standard European gambling package isn’t necessarily the most effective option: instead, suppliers should tailor their products to their clients’ target audiences.
Rich in potential
Asia has a huge pool of potential players – of people who want to bet on sports – but it lacks betting opportunities. Providers like us can offer local operators advanced products and solutions to help to develop this market.
While sports betting is popular with people of all ages, esports betting is generally more of a hit with the younger generation. It’s another area with huge potential in the region. Young people will appreciate the opportunity to support their favourite teams and players by betting on a variety of matches and tournaments.
For Latin American countries, sport is an important part of the culture. Betting is popular with people of all ages and genders. During the last five years, governments in the region have been actively legalising online betting, starting to develop the market and boosting its appeal to European providers and operators.
Sports betting is now fully legalised in Colombia and the country makes over 30 per cent of its gross win from online gambling. If we only look at land-based operations, we’ll see that Brazil accounts for about 40 per cent of the gross win in the region. In terms of revenue, the Latin American sports betting market displays constant growth.
Gambling in Africa, especially online gambling, is developing more slowly. This is down to the poor internet connection and the infrastructure. There’s also a big difference between the mindsets of local operators and players compared to their European counterparts. However, the region has a large audience that is used to placing bets as a form of entertainment, making it attractive to suppliers.
Focusing on esports
Globally, we want to have an impact on the esports sector and to drive it.
We were able to make this leap thanks to the team that we formed at the beginning of this year. Those guys aren’t just professional traders and analysts, they are true esports fans and some of them are even former esports athletes.
The esports market shows continuous growth and governments are supporting this sector more and more often, helping it to become an officially recognised sport.
As for what we’ve accomplished so far in esports, we now offer our Data Feed product with pre-match odds for up to 2,000 events and live odds for up to 1,000. We cover tournaments all over the world. Our IT team have developed an iFrame solution for operators who want to start their operations quickly and be in control with Sportsbook. Recently, we launched an esports platform from scratch for the operator OMG.BET.
The year ahead
Our motto this year was “improve and simplify”. Our main focus was on ensuring the stability of our operations. First and foremost, we pride ourselves on providing our partners with reliable products and management tools, so we wanted to go even further to help them to take their businesses to new levels.
For the past few months, we have been living by this motto. We have developed new stand-out products and continued to improve our services and existing solutions. Over the next six months, we will be concentrating on our clients, integrating our products and exploring new markets.
As for 2020, we’re currently in the process of defining our core strategy, but I’m already sure that we’ll continue to enter emerging markets and that our sports betting solutions will give our clients exactly what they’re looking for.