Interviews
“The industry needs a matchmaker that can identify each company’s potential”: Exclusive interview with Betbazar CEO
Alexandr Iaroshenko, CEO of the industry’s matchmaker, Betbazar, discusses the importance of choosing the right partner, as well as the key trends shaping supply and demand in the industry right now. Hint – Esports is set to do particularly well!
To introduce Betbazar to our readers, can you tell us a bit about yourself and what you do?
The idea for Betbazar came to me after working with BetGenius for eight years, I gained a great deal of insight into the needs of the modern sports betting company.
Quite often, the real challenge for suppliers is to understand feedback from the operator and it was our vision to be a company that can solve those issues by connecting the right operators and the right suppliers together. The industry needs a matchmaker that can identify each company’s potential and connect them to their mutual benefit. Our aim is to be a go-to expert on what suppliers are on the market, what products are available and what can be found beyond the face value.
Our supplier partners have everything operators need to hand. We span engagement, odds feeds, KYC processes and platforms with a view to expanding on this, all with unmatched efficiency from our vast understanding of the sector. The potential for synergy with this business model is limitless.
How does Betbazar fit into the overall gaming ecosystem? What can you bring to the table for suppliers and operators as a ‘matchmaker’?
We dig deep into what a company offers and identify its pain points. We figure out where it could be stronger and present a solution that is actually relevant for them. When a business has been working with the same product for a number of years it can be easy to get complacent and not try different approaches that could work better. There is so much noise in the industry with everyone offering solutions, but more often than not these aren’t the right fit for your company and its challenges. We cut through the noise and hand over the correct partner for a specific solution. You can never underestimate the power of having an outside consultant’s view on how to improve your processes.
When we first got started, it actually surprised us to learn that this isn’t just a problem for small companies, but for big ones too. It is easy for a business of any size to fall into this kind of rut. Our success, especially in the last year has inspired a strong sense of trust from our partners. This has been essential for growing our business and has allowed us to forge reliable long-lasting business relationships between operators and suppliers.
Take us through the Betbazar process – how does the process work and how can you help generate true operational success for your partners?
Our process has a two-pronged approach, with the first being situational. If we take last year as an example, when COVID hit there was a definite need for an eagle eye of the industry and we were prepared to offer this. We helped companies to adapt and scale quickly and get back to innovating rather than being stagnant during that period. What became clear was that amid so much uncertainty, there was a great deal of opportunity given the quality of the research and data that we had to hand. As a result, Betbazar grew 400% during this period.
The second approach is geographical. We analyse regions and locations based on what’s needed in those specific locations. We have had a lot of success in CIS and Europe, but we’ve also identified markets that are of strong interest including LatAm and the US. As well as that, we’re keeping an eye on Asia and looking forward to seeing more regulation there.
We then assemble a portfolio of products that work for each region and liaise with our international network of experts who help identify challenges and advise on rollout. All the while, we are in constant contact with our clients to finetune the offering so we’re able to propose a real silver bullet solution.
Given the last 12 month’s events – how essential do you see it to have companies like yours that can truly match interested parties together?
When the pandemic started, operators needed solutions fast. We had our understanding and perception of how sports punters would react to the lack of sport. With this in mind, we immediately identified products that could work and solve those issues, including Esports.
We knew Esports would be a great performer with high-velocity action that could keep the excitement going and filling the sports gap. Many clients were toying around with the idea of Esports for years but not really getting anywhere. We saw the Esports phenomenon coming and when our clients decided that was the route they wanted to go down, we were able to set them up with Esports solutions immediately. We made sure that revenue kept coming in and this challenging time became a very lucrative one for our clients.
While I obviously can’t say too much about exact operations, it is fair to say that we were key to the rise in Esports over last year. So much so, it’s one of the reasons we enjoyed a record-breaking 400% annual growth and why so many of our clients see us as a true guiding light now.
What are you seeing in terms of trends and demand for products? With the industry evolving so rapidly at this time, what’s key for supply and adoption?
Well, given what we have seen in the last year, I think that Esports is here to stay. In fact, I think it will be key in many corners of the industry. There is plenty of room for development and growth.
As we are committed to diversifying our products, Esports will certainly play a big role in that development as we branch out. We are also assembling a new armoury of products that power engagement and retention – and which I believe will offer a serious boost to any operator looking to capitalise on this summer’s action.
Looking to the future – our vision is to cover the full sports betting ecosystem, applying different platforms to our offering and payments, in particular, will be integral to that expansion. Start-ups and industry disruptors are one area we find especially interesting. Helping these businesses to scale their product and taking their vision to the market is an exciting prospect for us.
How much is the changing regulatory environment across Europe going to affect how operators procure and integrate third-party products?
Esports is still in its infancy so we’re expecting to see enhanced regulations around that area and looking out for ways that we can upgrade. Regulators are still only starting to understand how it works from a betting perspective. There is yet to be a great deal of evolution in this market and our products will help our partners navigate restrictions will engaging players.
Ukraine is a good example of how Esports has already evolved, as it was recognised as an official sport. This development with federated teams allows us to approach whole new areas where we can offer solutions – and I’m very excited by the scope that can be achieved.
Another challenge we are investing plenty of energy into at the moment is that live-betting is being restricted in France and Spain with punters being unable to bet on the next 15 minutes of live-action. We’re working hard to put together a list of engaging products that circumvent that given how profitable high-velocity and instantaneous betting are becoming – while also ensuring we stay regulation-friendly.
Last but not least, what products do you see being in hot demand this summer and beyond by your operator partners? What should our readers be keeping an eye on?
From what I can see, the market has passed the COVID challenge. We’re now past the reaction stage and now it’s time to find new ways to engage and excite customers this summer.
My advice would be to look for suppliers that can make you agile, more engaging and faster. Our supplier Betegy is a good example of this. They’re able to deploy AI to completely automate global marketing campaigns, which saves the likes of Parimatch days in operational time. Such actions can truly revolutionise a company’s operations and make them a market leader.
KYC is another area that is important to invest in. No customer wants to wait days before they get their winnings. The end customer will only ever be satisfied with instant payment in this case so we’re working hard to ensure payments can be processed in 15 mins at the latest. This will always help companies to prosper.
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3 Oaks Gaming is beginning to establish itself across regulated European markets, but now it has a focus on gaining a footprint in the rapidly evolving Latin American region.
We spoke to 3 Oaks Gaming’s Account Manager LatAm, Henrique De Simoni, about the distributor’s plans for LatAm and the overall appeal of the region.
3 Oaks has recently signed multiple deals in LatAm. How did those deals come about and are there plans for any more partnerships in those territories?
It is fantastic to sign a range of deals across LatAm, initially in Colombia and Mexico before sealing a number of agreements in Brazil. Colombia, in particular, is now a mature jurisdiction and entering the market there first ahead of other regulated territories was something that we felt was a sensible move for us.
Luckia and BetPlay are two of Colombia’s foremost operators, with a huge network of suppliers under their remit. To sign deals with those two giants undoubtedly bolsters our reputation within the region.
We also have Bet7K and F12.bet with our portfolio in Brazil and many more operators that are almost ready to go live in the next semester.
Overall, we have connected with multiple casino platform providers, such as Vibra Solutions, Alea, Hub88 and Salsa Technology, extending the reach of our content across the continent and we are excited at what the future holds for us with these partnerships.
Why were Colombia and Mexico first on 3 Oaks’ list when entering LatAm?
Colombia and Mexico emerged as the top choices for several compelling reasons. Firstly, both countries exhibit substantial market potential, with burgeoning populations eager for new and exciting gaming experiences. Additionally, the regulatory landscapes in Colombia and Mexico have been evolving positively, offering conducive environments for the expansion of the gaming industry. This regulatory stability provides a solid foundation upon which we can build our operations and establish long-term success.
Despite Colombia’s rapid maturity within the gaming sector, our thorough analysis identified continued high potential for growth. By securing certification for our games in Colombia, we’ve positioned ourselves to capitalise on the evolving landscape and seize lucrative business opportunities.
Mexico is now the second market in terms of volume, internet betting traffic and great demographic numbers related to gambling in LatAm. This opportunity of offering casino games for Spanish speaking countries that adores sports is something that challenges us and makes the industry more competitive in terms of generating the best premium slots.
What other LatAm regions are 3 Oaks targeting over the next 12 months?
With some provinces in Argentina already regulated, such as the capital Buenos Aires, this is a key market for us as we look to expand across the continent. Argentina has shown substantial numbers in the iGaming market and can easily become the third largest country in terms of GGR.
However, we are also looking at other regions in LatAm as we try and finalise further partnerships here so watch this space as our journey continues!
With Brazil on the cusp of regulation, how do you think the space will pan out over the next 12 months and what plans does 3 Oaks have for the region?
It’s no secret that Brazil has been our number one target and we are thrilled to be live in the jurisdiction through a number of agreements already. Certain analysts predict that the market is expected to be worth over US$3 billion by 2028, which is an astonishing prediction, but also an incredibly exciting one.
We will see an increase of mature companies trying to expand in Brazil and can expect to reach the biggest operators with our approach and outstanding customer experience. We have premium slots, a team that believes in the market and everything to make our brand visible for our Brazilian customers.
These numbers ensure Brazil will be the jewel in Latin America’s crown once it fully regulates, and thanks to the deals we have in place, we feel we are well positioned for future growth when regulation finally kicks in.
Would you tell us about the idea behind the Xprizo fintech platform?
It’s a story that started several years ago when the founder was conducting business on the ground in several emerging markets. Xprizo was founded to respond to the needs of emerging market consumers and merchants, whilst also addressing the limitations of Western banking systems.
This full-service payments platform combines all functionality needed by merchants, with a product tailored to unbanked consumers, bringing this market together in one, seamless ecosystem. What’s more, we drive adoption and consumer education through a network of agents, supporting cash deposit and withdrawal in a way that our target audience is accustomed to.
Xprizo’s mission statement is to ‘revolutionise the future of fintech’. What gaps in the market is Xprizo working to find solutions for and improve in the fintech space?
We are primarily targeting countries which have substantially large communities which are under served when it comes to fintech or banking. Therefore, we are operating in a challenging environment where we truly believe we can have a life changing impact connecting these people to several national and international services. We are delivering a comprehensive financial service where our clients are usually just served with either mobile money or cash and with the introduction of Xprizo our customers can benefit from p2p payments, card processing and full integration to the local mobile money ecosystem, debit cards, crypto and much much more.
How was the development process in building the platform? Were there particular challenges along the way and how long did it take to get the platform ready for market?
We wanted to build the platform from the ground up using local knowledge and tenants so we are working with people coming from Africa, India, Southeast Asia and also Latin America. To arrive at where we are it took several years actually and it is always developing. Having said that in the last 12 months the platform and the wallet took the shape it has today and we covered a lot of ground. Main challenges were the territory we operate in since we needed to make sure the platform can run smoothly with less than ideal infrastructure. One has to keep in mind that we are operating in a space where lack of electricity is the norm, interrupted internet is an everyday occurrence, regulatory matters are still very complex and more.
How does the Xprizo platform set itself apart from other fintech offerings? What can the service provide that others can’t?
As explained earlier, we build the platform from the people to the people. Most other offerings are a one-size fits all where they are adapted versions of what is available in the western world. Moreover, we are offering a truly comprehensive payment orchestration for users and merchants. One just needs to get on our platform and doesn’t need anything further. You can get the local payment methods, our own p2p, cards, etc.. No other service out there has such a complete offering.
Xprizo’s platform features a number of payment service providers such as M-Pesa, what benefits does this bring customers?
The idea is that our clients don’t need to use several systems to make their life or business. Using or integrating to Xprizo gives you a number of payment methods in one place where for the business side you would integrate one API and you can pick and choose what you wish to use.
How is 2024 shaping up for the business and what plans are in place to continue to develop the platform?
2024 is proving to be an incredible year for Xprizo. We are very happy to be overwhelmed with businesses that are recognising the benefits of using our system and we are having internal discussions to be integrated with very well known businesses and also by Tier 1 banks. Our ground reach though the agent network will also keep expanding month on month and the product offering will keep being a one of a kind setting the standard for other Fintech companies to keep up to.
2024 will also see us expand our reach in Africa launching several other countries and more importantly we will be launching our first operations in South East Asia. We will be beginning with the Philippines in June with the goal of expanding our reach across the following months.
The post Exclusive Q&A w/ Richard Mifsud, Chief Vision Officer at XPRIZO appeared first on European Gaming Industry News.
In the vibrant gaming industry in Chile, Francisco Leiva’s figure emerges as a key reference. A trained industrial civil engineer, his professional journey spans 35 years, from his beginnings in the public sector to his prominent role as Superintendent of Casinos, and more recently as Corporate Manager of Strategic Development at Marina del Sol. His entry into this industry, marked by challenges and significant achievements, reflects his commitment to progress and innovation. In this interview, Francisco shares his vision, experience, and accumulated wisdom over the years.
Could you tell us a bit about your career, professional trajectory, and path to where you are today; What motivated you to enter the Gaming industry?
I am an industrial civil engineer, and my career started in the public sector 35 years ago. Initially, I worked at the Ministry of Health and then at the Ministry of Finance, where I was involved in the drafting and legislative processing of various bills, such as the anti-money laundering law and the gaming casinos law.
Given my work in the legislative process of the gaming casinos bill, after its enactment in February 2005, President Ricardo Lagos appointed me as the first Superintendent of Casinos to implement the law. It was a significant professional and personal challenge as it involved bringing an industry that was far behind similar developed countries as Chile up to date.
During your time as Superintendent of Casinos in Chile, what were the most challenging tasks you undertook, and what would you say was your legacy in the gaming industry?
The main challenge was implementing the new gaming casinos law, which involved setting up the Superintendency, hiring staff, and preparing all conditions for private investors to apply for new casino operation permits. This led to 52 projects being submitted for the 18 available casino permits, with investments exceeding US$ 755 million at the time. Foreign investment accounted for 55%, and national investment for 45%.
The result was the construction of 18 new casinos along with complementary facilities such as hotels, convention centers, restaurants, and other leisure facilities that turned these areas into tourist attractions in the cities where they were built.
Undoubtedly, the main challenge was meeting the tender requirements within a tight timeframe. We managed to have a competitive process with operators from around the world, radically changing Chile’s gaming casinos industry.
The legacy was transforming the gaming casinos industry from seven municipal casinos to a modern industry with 24 top-level casinos and facilities.
What significant lessons have you learned throughout your career? And what message would you like to leave for future generations?
One lesson is that ambitious goals can only be achieved through dedication and by building motivated teams with clear objectives. It’s impossible to do it alone in tasks like these.
I believe the message is to work with honesty, dedication, and without losing sight of the task entrusted to you.
Knowing you personally, not just professionally, what activity inspires you or helps you achieve balance in your life?
Since I was a child, I have been passionate about playing tennis, and I have tried to maintain this passion even as a senior player. In this sense, I think engaging in sports helps maintain a healthy mind and body, which is essential to counter the stress that comes with demanding and complex work.
Similarly, one cannot neglect family life, as they are the ones who will ultimately support you in difficult times.
In summary, the only way, although not easy, is to harmonize work demands with a balanced life.
Finally, what is your opinion on hosting such an important international event in your country? And in a way, being one of the hosts to such important international personalities.
It is very important for the country to host such events that allow interaction among different actors in the gaming industry. It facilitates the exchange of experiences and networking, allowing the industry to continue developing. It is also important for public authorities, especially regulatory ones, to participate so they can understand the industry’s reality and see where the industry is heading given technological and cultural changes.
Francisco Leiva’s story in the gaming industry in Chile is an inspiring testimony of determination and success. From his crucial role in implementing the gaming casinos law to his contribution to the industry’s growth and modernization, his legacy endures as a beacon of positive change. Beyond his professional achievements, Francisco reminds us of the importance of balancing work and personal life, as well as the need to stay focused on values such as honesty and dedication. His optimism and commitment to the future of the gaming industry in Chile are a reminder that success is achieved through effort, teamwork, and a clear vision.
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