Betby is a new challenger in the sportsbook supply market having launched in late 2018. Fast forward just a year, and the company’s fully managed sportsbook service is already live with 16 brands, each offering odds on more than 400,000 sporting events across 60+ sports.
We caught up with Chris Nikolopoulos, Commercial Director at Betby, to discuss the challenge of “getting off the ground”, how Betby has been set up to stand out in such a saturated supply market, and why the company is “keeping a keen eye” on emerging markets in Asia and newly regulating markets in Latin America while prioritising expansion in more established European markets.
SBC: What are the key successes and challenges you’ve had since launching last year?
CN: It has been a really exciting period for us and we have very much hit the ground running. Our sportsbook is currently live with 16 brands across a number of territories, covering more than 400,000 sporting events across the year, with a highly diversified portfolio offering markets on more than 60 different sports.
Like nearly all new companies, the hardest challenge is getting off the ground. But I really think there is room for an alternative platform supplier that really understands the needs of operators and is flexible enough to react quickly to market changes. The feedback we have received thus far has been fantastic, but we react to any and all comments we receive to make our platform as good as it can possibly be.
SBC: What is the most exciting development you have seen in online sports betting in the last 12 months?
CN: There have been lots of interesting industry developments over the last 12 months. Most noticeable, of course, have been some of the high-profile mergers and acquisitions. The standard reaction to that is to fear for some of the smaller operators in the market.
But I actually think it is an opportunity for them to strike out with a slicker product that is less encumbered by the sorts of legacy software that often hampers the big boys. Hand in hand with that is the fact that lots of jurisdictions have moved or are moving towards regulation. The U.S. of course the biggest example.
SBC: Does online sports betting needs more innovation? What does Betby have up its sleeve?
CN: iGaming is an IT-driven industry which is changing very quickly. End-users are much better educated nowadays compared to what they were 20 years ago and more demanding as a result. Their options have also increased significantly. If they don’t get what they want is quite easy for them to look elsewhere.
In my opinion, operators who deal with the end-user directly are patently aware that if they don’t innovate, they are going to lose ground quickly. On the other side, I’m not sure providers are focusing on innovation as much as they should. There is still huge scope for improvement.
At Betby, we look to embrace new technologies and innovation and this allows us to differentiate and open the door to new opportunities. Some examples of this can be seen with our UI/UX layouts, which have been widely acclaimed thanks to their unique approach.
Apart from the traditional sports layout, we are also offering different options, many of which will improve the user experience for players coming from a casino background.
We also attach plenty of importance to the analytics of data and the harnessing of machine learning software. Our systems can learn from the data, identify patterns and make accurate decisions with minimal human intervention and I think this is a clear example of innovation.
SBC: In a sportsbook supply market that is so saturated, how can Betby stand out?
CN: We pay attention to the smaller details. We aren’t afraid to go the extra mile to ensure client satisfaction and we are very proud of our services. Putting partners first and listening to their needs isn’t ground-breaking, but it has really helped set us apart.
We’re aware that every customer is different and there is no ‘one size fits all’ solution, which is why we feel our agility is such a benefit. Being able to offer a unique solution on a case-by-case basis has allowed us to experience significant success since our launch.
SBC: You’ve said that you plan to expand into new betting and gaming markets. What are these markets, and what are your aims for these markets?
CN: We are prioritising expansion in European markets initially. Plenty of markets are undergoing regulatory updates, and with our diverse, agile platform we feel that Betby could make a major splash in those regions.
Further afield, we are keeping a keen eye on emerging markets in Asia, and the newly regulating markets in Latin America, which promises to be an incredibly exciting region in years to come.
SBC: And finally, what does 2020 have in store for Betby?
CN: Ideally, we will continue to grow at the same rate we have experienced this year. Expanding into markets across Europe is very important to us, as is cementing our reputation as a real customer-first supplier. Our platform continues to go from strength to strength, and we can’t wait to showcase it at some of the biggest shows in iGaming, like ICE London.
The last 12 months have been incredibly exciting for all of us at Betby and we’re only just getting started! If all goes to plan, we’re in for a very successful future. Stay tuned!