BETBY
Leonid Pertsovskiy, Chief Executive Officer at Betby, discusses the changing face of the US sports betting market as we head into 2021
Is the US sports betting market maturing as expected in a post-PASPA world?
I don’t think there were any expectations as to how the US sports betting market would develop. Everyone understood that if and when legal sports betting occurred across the United States, it would become the largest and most attractive regulated market for players and providers alike.
We’re also seeing a knock-on effect around the world, with companies pivoting their plans to focus on entering the United States ahead of Latin America, Europe or Asia. However, when we talk about the US, we’re not talking a singular market but 50 states with different regulations and different legal approaches. This means that while there are more challenges faced, there are also significantly more rewards. One state, such as New Jersey, can bring in more revenue for a betting company than half of Europe if entered correctly. Regulators in the US immediately set the bar very high for the level of compliance, which can scare off small companies because the process isn’t easy or cheap.
Often, expensive compliance specialists are required, which can give the impression that the market is more accommodating to ‘big business’ rather than disruptors. However, we’re seeing a lot of start-ups and Silicon Valley tech businesses start working on betting data and sports feed products. It will most likely be two to three years before they catch up with ‘Old World’ companies that have significant experience with betting products.
This puts investors into the American market in a difficult position. They will spend more money and time creating their own solutions if they ignore the existing technology companies and their expertise.
Is the sustained regulation of states vital to continued growth in the US, or is the lure of exclusive ‘sports betting states’ such as New Jersey the way forward?
It is only a matter of time before the vast majority of states introduce their own rules to legalise and regulate online betting. The more unified that regulation is, the more efficient the industry as a whole will be. If companies have to engage in development and jump through new legal hoops with every state it becomes a time-consuming and costly process.
Equally, instead of focusing on developing products, bringing innovation and optimising offerings for the US audience, companies will be spending resources meeting regulatory requirements. While it is important to protect players, convoluted legislator demands can be significant hurdles in a fast-paced industry.
It’s not to say it is a barrier to entry or development, but a smooth, sustained roll-out of regulation across the states will enable fast-paced maturation of one of the most exciting territories in the sports betting world.
What will be the next innovation for sports bettors in the States?
The first ‘innovation’ will be a change in mindset in the US, allowing or attracting innovative European companies to partner with not just the big beasts of land-based casino, but with the entire industry. Companies such as ourselves have enough technological and product developments that would appeal to the American end-user while also offering something really new to the market.
As competition increases in the market and the player pool grows, competition will change focus from a ‘speed of entry’ centric market to technology and efficiency. Operators who take this into account now and uses the latest innovations and developments will be in a prime position to capitalise on this. Moving away from a reliance on legacy technology and creating agile, player-friendly betting environments will allow them to be more reactive for the challenges and opportunities that will occur in the American market in the near future.
BETBY
BETBY AND PIXBET ENTER LONG-TERM BRAZILIAN SPORTS BETTING PARTNERSHIP
BETBY strengthens its Latin American position with agreement to power leading Brazilian brand Pixbet
BETBY, the premium sports betting supplier, has signed a long-term sports betting agreement with Pixbet. The partnership will see Pixbet leverage Betby’s award-winning sports betting solution and services to upgrade its current sportsbook, offering Brazilians a best-in-class online betting experience.
Pixbet a leading Brazilian bookmaker present throughout the national territory, is well known for its bold marketing strategy, having earlier this year been announced as the new shirt sponsor for Brazilian soccer club Flamengo under a lucrative two-year deal.
Chris Nikolopoulos, Chief Commercial Officer at Betby, said: “It is a pleasure to have put pen to paper on this agreement with Pixbet, an operator whose management team boasts clear expertise and a passion for sports betting that mirrors our own.
“This agreement further bolsters Betby’s impressive range of partners throughout Brazil and Latin America, and we are excited to capitalise on the rich promise this partnership holds.”
Ernildo Junior, owner of Pixbet, said: “We are very pleased to have signed with Betby as we look to further deliver on our sports betting ambitions to become the leading betting brand in Brazil.
“Betby has a proven track record in Latin America and its suite of high-performance sportsbook technology will provide our players with a superior sports betting experience whilst providing us with cutting-edge risk management tools.”
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WEEBET AND BETBY JOIN FORCES TO STRENGTHEN THE BETTING MARKET IN BRAZIL
Weebet, a pioneering iGaming platform in Brazil, has partnered with Betby, a global provider of innovative sports betting solutions. This collaboration aims to enhance the Brazilian bettors’ experience through Weebet’s cutting-edge initiatives in the national market.
Betby stands out for its state-of-the-art sportsbook solution and services, which comprise a highly-customizable intuitive interface, award-winning AI-based sportsbook tools, a proprietary esports feed, and a broad content portfolio for real sports based on official data.
The strategic alliance between the two companies aims to capitalize on the opportunities presented by the highly-promising regulated Brazilian market. Through the Betby sportsbook solution, Weebet will also offer specific services such as customizable odds, trading for local niche sports, and advanced algorithms to enhance risk management. These services are designed to elevate the betting experience for players while improving the operational efficiency for bookmakers.
Lenildo Nogueira, Weebet’s CEO, commented: “We are thrilled with the partnership with Betby, as sports betting has always been very strong in Brazil! The innovative solutions offered by Betby will perfectly complement the platform we provide to our operators, allowing us to deliver an unparalleled experience to bettors. This collaboration reaffirms our constant pursuit of innovation and our commitment to the highest quality of services offered by Weebet.”
Chris Nikolopoulos, CCO for Betby, said: “We are excited to work together with Weebet, which like us strives for product excellence and innovation in the iGaming landscape. I am positive that our advanced sportsbook solutions will not only enhance the betting experience for players, but also provide the means for local bookmakers to differentiate themselves from the competition.”
BETBY
Betby Forges Strategic Partnership With Latam Powerhouse Cactus Gaming
BETBY, a pioneering provider of top-tier B2B sportsbook solutions, has unveiled a strategic alliance with Cactus Gaming, a prominent iGaming platform renowned for its strong foothold in the Latin American market. This partnership heralds the integration of Betby’s advanced sportsbook into Cactus Gaming’s platform, utilizing a shared API framework. As a result, the time-to-market for Cactus Gaming’s operator partners is significantly shortened, enabling them to launch the sportsbook within a matter of days.
United by a common commitment to innovation and excellence, Betby and Cactus Gaming aspire to redefine the landscape of iGaming by setting new benchmarks for quality and pushing the boundaries of online betting. This collaboration represents a fusion of expertise, creativity, and ambition, with a collective goal to provides a first-class sports betting experience.
Chris Nikolopoulos, Betby’s CCO, said: “We are thrilled about our collaboration with Cactus Gaming, which reaffirms Betby’s dedication to partnering with industry frontrunners. This strategic alliance enables us to extend Betby’s sportsbook solution and services to Cactus Gaming’s partners, enhancing their betting experiences by granting seamless access to the most current and exceptional sports content alongside cutting-edge technology. I am confident that both companies will realize substantial long-term advantages from this partnership.”
Tiago Silva, Cactus Gaming’s CRA, said: “We are thrilled to initiate this partnership with Betby. This collaboration empowers us to harness Betby’s vast expertise and state-of-the-art sportsbook solution, enabling us to deliver the ultimate sports betting experience to our partners in Latin America and worldwide. We anticipate that this partnership will set the stage for further innovative collaborations in the future.”
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