Valentyn Kyrylenko, VP of Business Development at Betinvest, outlines the year the supplier has had so far and looks to the future with Matthew Enderby.
What have been the highlights of the year so far?
We’ve developed a few new products and solutions, launched a new corporate website and contributed to the development of esports betting.
We’ve expanded our product line to include online casino games and a Book of Six game. You may also have heard about our iFrame solution, through which we provide our clients with sportsbook as a service. It’s an innovative solution for the industry in terms of sportsbook management on the client side. Our clients can manage a lot through the back office that we provide, removing the need for them to call us and ask us to do things for them. We give them control.
In addition, we’ve had a great time at some of the biggest industry exhibitions, as well as local, regional events.
You’ve said one of the key strengths of your iFrame technology is a comprehensive back office. Could you please explain this in a bit more detail?
Yes, that is the most important function of our sportsbook iFrame. We provide operators with a variety of tools to manage their businesses. As far as I know, other providers do not offer this at the level we do.
Our iFrame solution has two levels of back office. One is for our own company, Betinvest, and enables us to manage and support our clients. The second is for our clients so they can manage their own businesses. They are able to change the content; pause or cancel events; manage their high-risk and VIP customers; group customers into specific categories; conduct marketing; create and award bonuses; alter the advertising settings; create reports and income charts; and change the front-end design. This back office puts our clients in control.
What is unique about its UI/UX design?
Stay local, act global – that’s our recipe. We didn’t make the front-end too different from others in the industry because people are used to a certain look when it comes to bookmakers’ websites. It’s easier for players to employ the knowledge they already have than to learn new tricks. That’s why we gathered all the best things a sportsbook front end could have and made it simple and convenient.
What are some of the key attributes suppliers need to have to be successful in the modern industry?
The industry is very dynamic and providers should make things fast and straightforward for their clients. There are a lot of demands on different markets, so the second quality that’s very important for suppliers is having a product which adapts to every single region.
On the subject of sports betting, we also have to think about the quality of the data operators get from providers. I think it’s one of the crucial factors for success in this business. On top of that, every supplier needs to have good customer service and to focus on the clients’ needs.
The main key to success in technology is being able to test things quickly. The more things you can test during a certain period, the bigger the chance you find the one that works for you. It’s about having the ability to test ideas, to receive proof of concept and decide on a direction without wasting unnecessary time at the implementation stage.
Popularity in betting on esports is rising. What are some of the specific challenges you’ve faced in supplying technology for this field?
The first challenge we faced was a lack of experienced traders. We looked for people who had their own experience in esports with whom we could share our strong knowledge of live trading. We built the team from scratch at the beginning of 2019 and launched our in-house esports data feed. Our esports analysts spend hours analysing data and new information from various games. We faced a challenge with live streams being delayed, but were able to find a solution.
How does this market differ from traditional sports betting?
First of all, the market attracts a different audience to traditional sports betting. Esports is most popular in and more characteristic of Asia and its fans are generally younger than traditional sports enthusiasts.
In contrast to traditional sports betting, esports games are more dynamic and don’t have a strict schedule. A large number of newly-created teams and tournaments are announced just 24 hours before the start of the tournament. Due to these conditions, there isn’t as much time for traders to prepare, which is why we monitor the market 24/7.
What new regions are you hoping to get involved with this year?
We were at G2E Asia in Macau this year. It was very successful for us and we expect to build strong partnerships with Asian operators wanting to start a sports betting business. Many of them were interested in our Sportsbook iFrame, data feed and new online platform. This region is a priority for us. There’s a big demand and we can meet it with our advanced sports betting products.
This year, we’re also branching out into the LatAm market. We’ll be visiting a lot of conferences that cover regulatory updates and advice on how to work effectively in the ever-changing conditions of the region. Sport is an important part of LatAm culture. In the last five years, they’ve legalised online betting, making this market very attractive to European providers.
Continuing on from our 2018 ventures, we also have negotiations with African partners lined up for this year.
What else can you tell me about plans for the year ahead?
We have two main aims this year. I’ve already mentioned the regions we want to develop our presence in. We’re exploring the LatAm, Asian and African markets, adapting our products to their local needs and requirements. This leads us to our second focus, which is our products. We’re testing our new online platform and improving it at the same time through our recently-developed agent management system, requested by our partners.