Interviews
Exclusive interview: Betbazar CEO on next-gen demographics
Following on from a hugely successful 2021, which saw tech ecosystem supplier Betbazar capitalise on a surge in interest in Esports and next-gen gaming, we sat down with the company’s CEO, Alex Iaroshenko, to talk through what’s driving the provider’s vision for entertainment.
With plenty of insights on the evolution of next-gen demographics, as well as the latest on European regulation and shifting player preferences, this one’s not to be missed!
Congratulations on a 2021 with plenty of standout achievements being announced previously by us here at European Gaming! Can you talk us through the last 12 months and how that brings the next few months into focus pre-ICE?
The past 12 months have been very exciting for us! Both our team and partners have done an outstanding job in supplying our clients with a wide range of products. I’m very happy to see that our focus and services have evolved beyond our highly successful Esports selection – our ecosystem now encompasses casino, fintech and everything that offers real entertainment.
By creating this Betbazar ecosystem we have been able to better prioritise what we do, our main focus is to continue building our product base across sportsbook, casino and sports games, which sees an incredible combination of casino, fintech and sports merged into one.
We’re also looking at joining the race around bespoke platform services, as I feel this is another significant growth space that offers a wealth of opportunity. In addition to this we’re improving our strategies around KYC and affiliates, allowing both ourselves and our partners to grow.
Betbazar recently announced that it plans to transform what its offer in terms of an ecosystem – with multiple new verticals now stretching beyond sports betting, how does this relate to your vision for the industry in 2022 and beyond?
We believe that the future of the industry is all about meeting the demands of the new generation of player. For us, meeting this demand is all about supplying the right forms of entertainment to them that will engage, excite and ultimately retain them.
Our ecosystem will span multiple verticals – you cannot expect to continue entertainment players with just one standalone product anymore. They demand varied, constant entertainment that cashes out quickly. Effectively we’re catering to the Tik Tok generation who want to jump between multiple forms of entertainment in one evening.
We plan on taking a soft approach to this, easing players from one game to another by offering them something similar to what they initially started with, this way there’s familiarity and they’re not being pushed towards a product they’re not actually interested in.
How do you see the evolution of the casino vertical, given this is now an area you’ll be greatly enhancing your focus? How greatly does the approach to casino differ across emerging European markets?
We’re seeing operators face significant challenges in attracting players in Europe, especially in Central and Eastern regions. Take Ukraine for example, their land-based heritage was viewed negatively for years, and the idea of casino was not considered to part of the social culture. That said, things have started to change since the market has been regulated and big casinos entered the market. Looking at Russia and Kazakhstan, casino is yet to be regulated for online – this will likely change in time.
Looking to this year and the next, I believe emerging markets hold plenty of potential – and with the likes of Georgia and now Ukraine offering plenty of good examples for regulated casino done right. Now it’s key to showcase the benefits of online to jurisdictions yet to regulate and provide products that can suit what regional demographics demand.
From a broad perspective, how can we describe what European casino demographics will be over the next five years? What’s the ideal entertainment environment that needs to be offered by both operator and supplier?
From our perspective, the ideal entertainment environment features high-velocity betting games that offer a combination of casino, social dynamics and gamification such as tournaments. We’re seeing more and more players demand this type of real time, next gen offering that immerses players and makes them feel part of something.
We should expect a future offering that sees players fully immersed in a shared environment that fosters a strong social and community feeling. People want to be in a group, creating a place for gaming that offers a gamified, competition engendered experience (just like video gaming), and that is going to be key for engagement and success over the next decade.
Which verticals do you believe hold the greatest potential over the next five years and how do you see new player interest being created? How much do you see live casino outperforming the likes of slots?
Live casino’s growth trajectory certainly suggests it will continue to grow strongly, it’s a space that’s difficult to disrupt, as you have a number of tier one incumbents that have a hold over the market.
If we’re specifically talking about a new generation and demographic of players, then I think it’s difficult to look beyond Esports. It’s engaging, entertaining and immersive and these new players will be interested in something they were already familiar with, and gaming is one of those things.
Given your extensive experience working across the sports industry with Genius Sports, how will casino evolve alongside sportsbook over the coming years?
In my experience sportsbook has always been a fantastic tool for acquisition in that new players first sign up to place bets on their favourite sports and then move onto casino products, giving them a try. The key is ensuring that product complement each other – without cannibalising spend.
The two need to sit alongside each other and offer different types of entertainment that engages the player whilst still offering something familiar. For example, a fixed odds betting game with a live dealer would appeal to sports fans as they understand the concept.
Ultimately, I don’t think the industry will change much and we’ll have relative stability, the nature of the business has pretty much been the same for the past few years – and will likely continue to be.
Can casino ever come an acquisition tool in its own right given that at present sportsbook usually takes the majority of new sign-ups?
Sports betting will always be one of the major channels for operators to attract new players, and for the majority of markets, this will likely continue to be the same going forward. As mentioned, I believe the key for casino is to create an experience that compliments the sports betting experience, rather than cannibalising the wallet, which results in a shorter customer lifecycle. Of course, there will always be players out there that will give casino a try first ahead of placing a sports bet, but it will always be rarer.
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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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