Interviews
Q&A: Sportingwin and the Bulgaria opportunity
Mark Chakravarti, Head of Investment at Sportingwin, talks about why the operator sees such potential in the market and how it has found the licensing process to date
Bulgaria has had a major shake-up when it comes to how gambling operators are licensed and regulated in the country with the National Revenue Agency recently taking on the responsibility.
Amid allegations of corruption among its predecessor, the State Gambling Commission, the new regulator is moving forwards with plans to issue additional licences over the coming months.
The first in line to receive such a licence is Sportingwin, which has ambitious plans for Bulgaria once it has been given the green light to launch.
To learn more about Bulgaria and the operator’s plans for the market, we sat down with Mark Chakravarti, Head of Investment at Sportingwin.
Why do you see so much potential in Bulgaria?
You just have to look at the numbers to see the potential. We estimate the Bulgaria market to be worth around £300m right now but as new operators enter the fray it could grow at a rate of 20% per year to hit £500m over the course of the next five years.
Coupled with this is the low level of competition. Only five betting licences have been issued to date and mostly to local retail bookmakers with a limited online offering. These sites simply don’t offer the depth of markets, odds and products available in other European jurisdictions.
This presents a tremendous opportunity for experienced online sportsbooks to make their mark, so long as they enter Bulgaria with a localised product that delivers a superior player experience. Those that do are very much in the driving seat to capitalise on the tremendous potential on the table.
What do Bulgarian players look for in an online sportsbook?
There is a long tradition of retail and online sports betting in Bulgaria, so players are seeking a comprehensive, quality, cutting-edge product and experience similar to that offered and found in mature markets such as the UK.
In particular, they are seeking a high volume of events, a range of bet types as well as modern features such cash out. We also believe that exchange betting, while not currently available, will be hugely popular once we secure our licence and launch the Sportingwin exchange in the market.
How will you meet those needs and localise your offering?
There are two key ways we are doing this – product and our approach to CRM. When it comes to product, we are developing a proprietary platform that is fully customisable for each market we enter, including Bulgaria. This includes localised payment options, currencies, sports, etc.
In terms of CRM, we are investing in a local customer support centre so that we can comfortably meet the staff-intensive local language CRM and marketing operations and activities we believe will enable us to communicate to and engage with Bulgarian players.
How have you found the licencing process to date?
The Bulgarian regulator has incredibly high standards and expectations when it comes to due diligence. As such, the licensing process has been a little slower than in other jurisdictions, but we are okay with this as we want to make sure we not only meet but exceed their standards.
This means taking additional steps such as appointing a dedicated Bulgarian CEO. He has a proven background in gaming and the regulator can quickly carry out the necessary checks that it needs to in order to ascertain his credibility and suitability for the role.
Owning our own technology has also allowed us to synchronise our platform with the NRA already, which in turn means we are among those on the regulator’s list of approved technologies ready for when our licence is granted.
In addition, we are a Maltese company so have requested that the Maltese consulate in Bulgaria monitor the licensing process from start to finish as our application is the first to be considered since the Nation Revenue Agency took over regulatory responsibility earlier in the year.
By having the right people on a local level, and by taking considered steps towards ensuring we meet the standards set by regulator, we expect to receive our licence in the first quarter of next year.
What has been the toughest challenge to overcome?
The toughest challenge is in respect to the due diligence and in particular the requirement of having an €800,000 investment from a local, proven source of funds. To do this, we have had to find a local banking partner which was easier said than done.
That being said, the team pulled together and we were able to find a local banking partner happy to facilitate the investment allowing us to progress through the licensing process.
What are your long-term plans for the Bulgarian market?
We want to claim 9% of the local market within the first three years. We then plan to build on this rapidly by securing further venture capital that will enable us to consolidate the market through mergers and acquisitions with local operators.
Once we have achieved the scale we are seeking, we can then effectively pursue market leader bet365. It is a tough task, but one that we are more than capable of completing thanks to the incredible team we have built out in recent years.
We also believe our cutting-edge proprietary technology and platform gives us a huge edge over the incumbent operators and brands and will allow us to compete with and defeat any other overseas operators that enter the market.
What is your long-term plan for Sportingwin?
We are currently undertaking a fundraising campaign to help accelerate our global expansion efforts, selling off more than €1m in equity.
These investments are in line with our long-term strategy for the brand which is to achieve a valuation of €50m in three years and, once achieved, would deliver a x13 increase on the current investment opportunity.
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affiliate marketing
Alexandros Michas on Building Platforms, Not Pages
In the world of affiliate marketing, a little chaos is usually the norm. Managing dozens of websites across different regions often means endless firefighting. Enter Alexandros Michas, who was recently appointed as the Head of Website Operations at Media 24. In this interview, we talked with Alexandros about how he is replacing chaotic, site-by-site fixes with a single blueprint to turn standard affiliate sites into true digital platforms.
A few months ago, you were appointed as the Head of Website Operations at Media 24. To give our readers a look behind the scenes, what exactly does this role involve, and what are the main things you focus on in this position?
My job is to take the big-picture goals discussed with our CEO and figure out how we actually build them. I translate high-level business strategy into a concrete technical roadmap and take responsibility for it and everything that goes into our websites.
Day-to-day, I am leading our talented and experienced team of site managers. Together, we look at our portfolio of websites not just as platforms, but as products. We are constantly tweaking site functionality, brainstorming new product features, and upgrading the user experience. The ultimate goal is to move past standard affiliate landing pages and build something stickier. We want our websites to be the definitive, go-to destination where sports bettors in any given region don’t just visit once to find a bookmaker, but actively want to return to for value.
With dozens of websites in the portfolio, how do you prevent operational chaos? What does a scalable architecture look like for a modern affiliate house?
Honestly, if you treat every site like its own special project, you’ll drown in chaos overnight. The secret is standardisation.
Of course, every region has its own local specifics that we have to adapt to, and we do so by having locals as website managers. But underneath it all, we build everything on a single, shared blueprint. When we design a new feature, we don’t just build it for one site. We build it to level up the whole portfolio at once. It also makes expanding into a new market much easier. If a promising new region opens up tomorrow, we don’t have to start from scratch. We just drop in a product that’s already battle-tested and ready to go.
I’ve also set up teams around each GEO and manager, which include SEO specialists, content managers, and others, to ensure a smooth and efficient workflow.
Since you rely on a single blueprint, how do you manage the human element? How much freedom do your site managers have to experiment in their local markets versus sticking to the playbook?
Our site managers are the true experts in their specific regions, so they have total autonomy over their local content plans and figuring out what makes bettors in their area tick. They own that local strategy completely, while the blueprint just ensures they are building on a rock-solid foundation.
Because they are on the ground, I actually encourage them to constantly pitch product improvements. I always listen to their suggestions because a great idea shouldn’t just stay on one site. If a manager finds a feature that works incredibly well for their audience, we don’t just keep it there. We roll it into our core blueprint so the entire portfolio benefits from it.
The company has shifted toward building true digital platforms rather than just simple affiliate sites that rank. In practice, what is the biggest difference between those two approaches?
The biggest difference is value and retention. A simple affiliate site is transactional. It’s built entirely around SEO keywords just to capture a click, send the user to a sportsbook, and hope for a conversion. If Google tweaks its algorithm, that site is incredibly vulnerable because users have no real loyalty to it.
A digital platform, on the other hand, is an actual product. We aren’t just trying to get a click. We are trying to be a helpful place for the sports bettor. That means building features, community, and data hubs. It takes a lot more time and energy to maintain, but it turns a casual visitor into a loyal user. They don’t just find us on Google once. They bookmark the site and keep coming back because the product itself is valuable.
The World Cup is live right now. An event of this scale is a massive test for any affiliate. How did you approach the preparation for this global tournament from a product perspective, and what features did you ship to keep bettors engaged?
We knew the traffic spikes would be insane, so preparation actually started months ago. From a product perspective, the ultimate goal was instant utility. During a massive event like this, users want their information immediately, without any friction.
Feature-wise, we shipped an advanced match centre, a tournament bracket simulator, and worked heavily on upgrading our entire content strategy specifically for the World Cup. Because of the shared framework we talked about earlier, we didn’t have to build these tools site-by-site. Our blueprint allowed us to deploy these advanced features across all of our sports betting properties simultaneously, giving every region a premium product at the same time.
When the final whistle blows on the World Cup and we look back at the rest of 2026, what will have to happen for you to look back and say we absolutely nailed it?
On the data side, I want to look at our metrics and see a clear spike in returning users. That will be the ultimate proof that our platform strategy is actually working.
But our upgrades and feature improvements don’t just stop with the World Cup. We already have plenty of things in the pipeline, and we are planning a massive push right before the main European leagues kick off late this summer.
At the end of the day, I’ll know we nailed it if our site managers are effortlessly launching these new features, seeing the direct results of their work, and feeling like they have the absolute best tools in the industry to win their markets. That would be proof that we didn’t just build websites. We built a highly scalable affiliate product.
The post Alexandros Michas on Building Platforms, Not Pages appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
affiliate marketing
Alexandros Michas on Building Platforms, Not Pages
In the world of affiliate marketing, a little chaos is usually the norm. Managing dozens of websites across different regions often means endless firefighting. Enter Alexandros Michas, who was recently appointed as the Head of Website Operations at Media 24. In this interview, we talked with Alexandros about how he is replacing chaotic, site-by-site fixes with a single blueprint to turn standard affiliate sites into true digital platforms.
A few months ago, you were appointed as the Head of Website Operations at Media 24. To give our readers a look behind the scenes, what exactly does this role involve, and what are the main things you focus on in this position?
My job is to take the big-picture goals discussed with our CEO and figure out how we actually build them. I translate high-level business strategy into a concrete technical roadmap and take responsibility for it and everything that goes into our websites.
Day-to-day, I am leading our talented and experienced team of site managers. Together, we look at our portfolio of websites not just as platforms, but as products. We are constantly tweaking site functionality, brainstorming new product features, and upgrading the user experience. The ultimate goal is to move past standard affiliate landing pages and build something stickier. We want our websites to be the definitive, go-to destination where sports bettors in any given region don’t just visit once to find a bookmaker, but actively want to return to for value.
With dozens of websites in the portfolio, how do you prevent operational chaos? What does a scalable architecture look like for a modern affiliate house?
Honestly, if you treat every site like its own special project, you’ll drown in chaos overnight. The secret is standardisation.
Of course, every region has its own local specifics that we have to adapt to, and we do so by having locals as website managers. But underneath it all, we build everything on a single, shared blueprint. When we design a new feature, we don’t just build it for one site. We build it to level up the whole portfolio at once. It also makes expanding into a new market much easier. If a promising new region opens up tomorrow, we don’t have to start from scratch. We just drop in a product that’s already battle-tested and ready to go.
I’ve also set up teams around each GEO and manager, which include SEO specialists, content managers, and others, to ensure a smooth and efficient workflow.
Since you rely on a single blueprint, how do you manage the human element? How much freedom do your site managers have to experiment in their local markets versus sticking to the playbook?
Our site managers are the true experts in their specific regions, so they have total autonomy over their local content plans and figuring out what makes bettors in their area tick. They own that local strategy completely, while the blueprint just ensures they are building on a rock-solid foundation.
Because they are on the ground, I actually encourage them to constantly pitch product improvements. I always listen to their suggestions because a great idea shouldn’t just stay on one site. If a manager finds a feature that works incredibly well for their audience, we don’t just keep it there. We roll it into our core blueprint so the entire portfolio benefits from it.
The company has shifted toward building true digital platforms rather than just simple affiliate sites that rank. In practice, what is the biggest difference between those two approaches?
The biggest difference is value and retention. A simple affiliate site is transactional. It’s built entirely around SEO keywords just to capture a click, send the user to a sportsbook, and hope for a conversion. If Google tweaks its algorithm, that site is incredibly vulnerable because users have no real loyalty to it.
A digital platform, on the other hand, is an actual product. We aren’t just trying to get a click. We are trying to be a helpful place for the sports bettor. That means building features, community, and data hubs. It takes a lot more time and energy to maintain, but it turns a casual visitor into a loyal user. They don’t just find us on Google once. They bookmark the site and keep coming back because the product itself is valuable.
The World Cup is live right now. An event of this scale is a massive test for any affiliate. How did you approach the preparation for this global tournament from a product perspective, and what features did you ship to keep bettors engaged?
We knew the traffic spikes would be insane, so preparation actually started months ago. From a product perspective, the ultimate goal was instant utility. During a massive event like this, users want their information immediately, without any friction.
Feature-wise, we shipped an advanced match centre, a tournament bracket simulator, and worked heavily on upgrading our entire content strategy specifically for the World Cup. Because of the shared framework we talked about earlier, we didn’t have to build these tools site-by-site. Our blueprint allowed us to deploy these advanced features across all of our sports betting properties simultaneously, giving every region a premium product at the same time.
When the final whistle blows on the World Cup and we look back at the rest of 2026, what will have to happen for you to look back and say we absolutely nailed it?
On the data side, I want to look at our metrics and see a clear spike in returning users. That will be the ultimate proof that our platform strategy is actually working.
But our upgrades and feature improvements don’t just stop with the World Cup. We already have plenty of things in the pipeline, and we are planning a massive push right before the main European leagues kick off late this summer.
At the end of the day, I’ll know we nailed it if our site managers are effortlessly launching these new features, seeing the direct results of their work, and feeling like they have the absolute best tools in the industry to win their markets. That would be proof that we didn’t just build websites. We built a highly scalable affiliate product.
The post Alexandros Michas on Building Platforms, Not Pages appeared first on Americas iGaming & Sports Betting News.
Abelson Sports
The evolution of prediction markets
As prediction markets evolve from niche forecasting tools into a multibillion-dollar mainstream asset class, the boundary between trading and high-volume iGaming infrastructure is rapidly dissolving. This Q&A feature w/ Jeevan Jeyaratnam, Chief Betting Officer at Abelson Sports examines whether prediction platforms can sustain their exponential growth independently, or if their long-term survival depends on adopting rigorous compliance, product proposition and geolocation standards of the established iGaming supply chain.
Are prediction markets a threat to the existing sports betting industry in the US and beyond, or can both coexist peacefully and profitably?
The answer to that question very much depends on where in the world you are. If I live in Birmingham, Alabama then prediction markets (PMs) are my only legal route to placing any kind of sportsbook wager. If I live in Birmingham, England then prediction markets (or as the Europeans understand them, betting exchanges) are very much playing second fiddle to the currently available, advanced sportsbook apps.
At present, prediction markets and legal sports betting firms, in the US, are operating on an uneven playing ground. Sportsbooks are state-regulated entities with tightly enforced rules, high tax rates and limited geographical scope. Prediction markets – in my opinion, because of their connection to the federal government’s coffers – have been given almost carte blanche to operate across state lines with no consideration for state legislative independence.
Governed by the federally controlled Commodity Futures Trading Commission (CFTC), prediction markets are able to offer sports contracts as well as other financial products to players in California, Georgia, New York and Texas. Sportsbooks, using this four-state example, can only offer sports betting opportunities to those in New York and that comes with a hefty 51% tax rate. The disparity here is stark and it is no wonder that investors and financiers believe that Predictions Markets have an opportunity to outperform sports betting operators. The problem of quite how PMs can fully monetise the product is beginning to be resolved with commission fees now being charged. How PMs can keep customers engaged is another concern, as there will be very few recreational winners from the pool of sharps that are seeding and trading these markets.
Given the current regulatory landscape, how can providers help platforms navigate the legal minefield of jurisdictions?
There’s a certain frontier spirit, certainly in the USA, around PMs at the moment. Platforms seem to be navigating with a “do it and apologise later” attitude, which has led to several high-profile lawsuits. Depending on where you look, the PMs or CFTC are either suing the state or vice versa.
It is a mess and as Congresswomen Dina Titus (D-NV) pointed out in an open letter recently, “Equally concerning is the allocation of agency resources to support this expanding litigation campaign.” Her point being that the CFTC is significantly understaffed and under resourced and that its efforts to support “multi-state litigation threatens to undermine the agency’s ability to fulfil its primary mandate.”
More recently, it would seem that the two biggest names, Kalshi and Polymarket, have decided that public slanging matches, where accusations around facilitating nefarious characters and criminal enterprises to trade on their platforms, fly either way.
This is hardly the type of behaviour anyone would expect from two companies operating within the auspices of the CFTC.
Until the situation settles and given the widespread support at federal level, it’s hard to imagine either of the two main players needing to take too much advice from others.
Following recent high-profile controversies around insider trading on prediction platforms, what sportsbook-grade KYC and behavioural monitoring tools are most effective at detecting the misuse of information?
One of the big concerns, currently not adequately addressed, revolves around KYC. Kalshi, for example, by way of its regulated status with the CFTC, has a strict KYC and AML code and a clear list of prohibited territories on its site.
Polymarket, on the other hand, is a crypto-native decentralised operator and as such has far fewer hurdles to jump as regards KYC. The USA site is now covered by CFTC regulation and is considered separate to the international version, which doesn’t require mandatory ID requirements to set up an account. This has led to significant and justified concerns over insider trading and AML. There are a number of tried and tested solutions that betting operators are required to use, but the same will also be true for PMs and the specific set of requirements they need to fulfil. For the sportsbooks that are also launching PMs, it would make synergistic sense for them utilise the same tools they have for the sportsbook.
What sort of retention strategies can be borrowed from the betting sector to increase engagement for prediction market operators?
The biggest hurdle for PMs is how they handle the inevitable churn as recreational players realise that they are consistently losing money to the big trading houses and sharp market makers. Only a fraction of customers can win and a small concentration of sharp clients will mop up pools, especially in sports contracts.
In other political or business markets there will be individuals or syndicates operating with the benefit of insider knowledge. Currently, the PMs product isn’t comparable in entertainment value to that of the sportsbooks. No concessions, no bonuses or many of the entertainment value add-ons that sportsbooks have adopted.
PMs have provided means for many who otherwise would have to use offshore books to experience wagering and they have done this at a very low transactional cost to the end user. That model will need to change if these firms are to meet their lofty valuations, but how they do that, while convincing customers that they can beat the sharps remains to be seen.
The post The evolution of prediction markets appeared first on Americas iGaming & Sports Betting News.
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