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We are Betinvest: The talent behind the technology
Speaking ahead of ICE 2020, Betinvest COO Max Dubossarsky outlined the company’s plan to launch We are Betinvest, a project which sheds light on the teams of people behind the brand.
What has inspired Betinvest to share the stories of its team members and their many different areas of specialization?
For over 20 years of working in the industry, we have always found that our most valued resource is our team. It is thanks to their professionalism and talent that new products and solutions are created, and different ways to promote our services are developed. It is our employees who are changing the industry with their day-to-day work. And the result of their hard work is reflected in the high market value of our product, the reputation of the company, and the loyalty of our clients. Our team is the main driving force behind the business.
Because we are striving to develop the industry as a whole, we have decided to speak openly about the internal workings of our business. And so, the aim of our project We are Betinvest is to introduce you to the different departments within the company, in terms of the professional and personal qualities of our employees alike. We believe that this will broaden understanding of the complex internal processes of our business: at what stage of a project are different teams involved, what issues do they deal with, and what is their overall contribution? With this project, we hope to raise awareness of all the job descriptions in the gambling industry amongst our followers on social media and show them that Betinvest is all of us, and each and every one of us.
Where can we follow these stories and how will you share them? Can you tell us which department will be first up?
The We are Betinvest project will be launched in February, straight after ICE London, and can be followed on our official Facebook and LinkedIn profiles. Every team of specialists will be featured in the publication series, starting with an introduction to the team at the very heart of our sports betting business: the traders. We hope that readers will find this interesting and informative.
Follow us on social media and give us your feedback. We’d love to hear from you!
How important is it that companies hire candidates who are the right fit for the team?
Of course, it’s very important that everyone fits in, and does what they do best and what they’re passionate about. So, as well as having a thorough selection process, we do our best not to lose our professionals when they decide they want a change of direction: we help them do so within the company. Each of our employees is able to develop not just within their own job role, but also to change specializations and departments.
In terms of recruitment, let’s take as an example our team of traders. We have a special training program and system of career progression within the company for new employees. But from the outset, potential traders must have a good working knowledge of maths and the theory of probability, and they need to enjoy sport and have a deep understanding of certain sports in particular. When part of an experienced team, all of this knowledge will be transformed into a professional skillset. But in this line of work, a love of sport is a real necessity.
Each and every one of our employees is valued, not just as professionals in their area and as individuals, but as members of the team. That’s why it’s also important to us that new employees become part of the Betinvest family, share our values and corporate culture, and stay with us for as long as possible.
What does Betinvest do to cultivate a productive environment to allow its talented specialists to thrive?
A large part of our lives is spent at work, and we understand the importance of corporate culture, and an office environment that facilitates productive work and recreation. I also mentioned earlier that we always listen to our team’s wishes to learn and develop, and we provide opportunities for them to fulfil their potential in a variety of projects within the company. This has a direct effect on satisfaction levels.
Studies have shown that people are more productive at work and take their work more seriously if they get on well with their colleagues. We facilitate this by organizing team building events – both for department teams and interdepartmental. Friendly relations within a company break down barriers, increase efficiency, and make our time at work more enjoyable.
An important part of the work carried out by our HR department is the professional development of our team. So, as well as employee benefits which include insurance and access to a gym, we offer our employees extra training through professional courses, workshops, and training sessions.
And, of course, we make sure the office has everything it needs so that it is both a comfortable working environment and well suited for recreational time.
Can you define the Betinvest culture in less than 140 characters? How does this translate to a top-quality product and service for clients?
We place great importance on values such as flexibility, openness, innovation, and professionalism.
This is reflected in and defines our products and services. With our experience in the industry and the range of sports betting solutions we offer, we are a single entry point into the gaming industry for our clients.
The Northern Ireland Football League (NIFL) are pleased to announce VBET as the new official betting partner and title sponsor of the Women’s Premiership League Cup.
The five-year partnership will see VBET promoted through the NI Football League network with impactful signage at stadiums, bespoke digital content on social channels and collaboration on digital innovation projects through to the end of the 2028/2029 season.
Next month, the newly rebranded VBET Women’s Premiership League Cup final will be contested with the showpiece clash between holders Cliftonville Ladies and newly promoted Lisburn Rangers.
Ian Forrester, NI Football League Chief Commercial Officer said, “We’re delighted that VBET will be partnering with us on our journey over the next five seasons, as we continue to grow our leagues and entertain fans in our thousands.”
“The commitment to both male and female football as well as new initiatives is a huge boost to NIFL, and we can’t wait to get started!”
Pantelis Kotopoulos, VBET Chief Growth Officer, said: “We are so proud to have been unveiled as official betting partners of the NIFL. The NI Football League could not be in better shape right now, so it is a privilege to be part of their journey. We also share NIFL’s continual desire to put fans and community first and look forward to building successful foundations with supporters and clubs alike.”
VBET’s mission is to give our members the best betting and gaming experience in a safe and secure environment, covering 30,000 live matches and over 40,000 pre-match events each month, VBET also provide over 2,000 Casino games, Live Casino, Virtual Sports, Esports and much more.
The post VBET ANNOUNCED AS NEW NIFL BETTING PARTNER appeared first on European Gaming Industry News.
In March 2024, Bitcoin soared to a historical high, nearing 70,000 euro per coin. How does this impact the iGaming market? Being a tech company with over 15 years of experience and an innovator in crypto iGaming software development, SOFTSWISS shares anticipations in its quarterly crypto analysis.
Over 220 brands powered by the company engaged in crypto transactions during the first quarter of 2024, which is 12% higher than the previous quarter. SOFTSWISS experts analyse the data gathered from crypto-friendly brands by employing extrapolation, comparative, and correlative analysis.
iGaming Market Overview: Unveiling Anticipated Growth
The size of the global online gambling and sports betting industry is expected to rise significantly and exceed 170 billion euro by 2032, according to Statista. Based on SOFTSWISS data, the iGaming market has demonstrated a stable pattern of growth year after year.
In absolute terms in euro, the Total Bet Sum grew by 5.8% in the first quarter of the year compared to the last quarter of 2023. Analysing the year-on-year increase, comparing Q1’24 with Q1’23, the growth is more impressive, showcasing a 47.2% boost.
Simultaneously, the Total Bet Count, both fiat and crypto, displayed a slightly larger gain in the first quarter of 2024 compared to the previous quarter, surpassing 6.1%. The indicator’s year-on-year boost is much more notable, revealing a 57.2% increase.
The popularity of iGaming in recent years has been fuelled by its global reach and accessibility due to constant technological advancements. On one hand, the quality of internet connectivity continues to rise, while on the other, new payment methods are emerging, simplifying payment procedures.
The in-depth quarterly analysis, ongoing since the beginning of 2022, reveals that fiat bets are undergoing more substantial growth compared to crypto bets. In Q1’24, the Fiat Bet Sum increased by 6.9% compared to Q4’23, while the rise of Crypto Bet Sum was at 2.4%.
The more active growth of fiat bets led to a slight decrease in the share of crypto. In the first quarter of 2024, the crypto share in the Total Bets Sum settled at 24.4%, decreasing by 0.8 percentage points (p.p) compared to the last quarter of 2023.
What is the State of Crypto in iGaming?
Analysing crypto bets, it is crucial to highlight that almost 93% of them are facilitated through the in-game currency conversion tool, which is gaining traction. This mechanism allows operators to engage players with cryptocurrency assets in games initially tailored for fiat only. Operators that adopt such options are gaining more competitive advantages in the market.
While the Q1’2024 Crypto Bet Sum shows a moderate 2.4% growth compared to the previous quarter, the year-on-year analysis demonstrates a 20.8% increase. The Crypto Bet Count remained unchanged in Q1’24 compared to the previous quarter’s indicator. Simultaneously, the metric increased by 21.3% year-on-year. The figures speak volumes, showcasing a consistent interest among players in crypto gaming.
“The lack of a substantial increase in the number of crypto bets during Q1’24 can be partly attributed to the significant rise of the Bitcoin exchange rate during this period, leading players to be more cautious with their crypto bets. This trend mirrors the situation in the first quarter of the previous year when the Bitcoin exchange rate surged following a decline at the end of 2022,” comments Vitali Matsukevich, Chief Operating Officer at SOFTSWISS.
What Distinguishes the Average Crypto Bet?
The average crypto bet increased to 1.71 euro in the first quarter of the year from 1.66 euro in the last quarter of 2023. This growth correlates with a significant strengthening of the Bitcoin rate during the first quarter of 2024.
The average fiat bet remained steady at around 0.81 euro in Q1’24 and Q4’23. The average total bet stayed constant since the second half of the previous year and is equal to 0.93 euro.
Notably, the average crypto bet is double that of fiat. This indicates that digital currencies are preferred by higher-income players.
Why Did Bitcoin’s Share Drop?
The Top Five most operated digital coins in iGaming have remained stable during the last two years with minor changes in ranking order. The top still includes Bitcoin, Ethereum, Litecoin, Dogecoin, and Tether.
In Q1 2024, Bitcoin experienced a significant decline of 9.4 p.p. compared to Q4 2023. This could be attributed to the bolstering Bitcoin exchange rate and players exercising a more cautious approach towards it.
In contrast, the shares of other digital coins have increased. Ethereum and Litecoin showed growth of 4.0 p.p. and 3.8 p.p., respectively, during the same period. Simultaneously, Dogecoin rose to fourth place in the ranking, leaving Tether behind.
Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, summarises: “The benefits of employing digital currencies, such as fast transactions and anonymity, still attract many players. Embracing cryptocurrencies in iGaming can boost operator profits despite their volatile nature.
As the Bitcoin rate is expected to strengthen after the Bitcoin Halving, the average crypto bet and projected gains may see a notable impact. During such promising times, it is crucial to have reliable and experienced partners to navigate the path to success.”
About SOFTSWISS
SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland, and Georgia. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform, and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.
The post Navigating Bitcoin’s Impact: SOFTSWISS’ iGaming Industry Overview appeared first on European Gaming Industry News.
Bulgarian President Rumen Radev has decided not to veto the proposed amendments to the Gambling Law, which include a prohibition on gambling advertisements in the media.
Previously, President Radev had indicated that he was deliberating on the changes to the Gambling Law and was awaiting input from his advisors before making a final decision.
The prohibition on gambling advertisements in the media was approved by a significant majority of deputies during the final session of the 49th National Assembly. Despite objections raised by various media outlets, gambling operators, sports clubs, and other businesses between the readings, the amendments were endorsed. Some stakeholders argued against the ban, suggesting that public discussion should precede its adoption.
The initiative for the amendments originated from GERB and DPS, and it was introduced unexpectedly during the last days of the 49th National Assembly by Yordan Tsonev (DPS) and Temenuzka Petkova (GERB). The bill swiftly progressed through the legislative process, passing its first reading in the budget committee and subsequently receiving approval in the plenary session. An extraordinary meeting of the Committee on Budget and Finance was convened to facilitate the voting on the amendments before the deputies commenced their pre-election recess.
The post Bulgarian President Approves Gambling Law Amendments appeared first on European Gaming Industry News.
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