BetConstruct has set up a system that allows firms to share the risk of big stake punts without threatening their risk profile.
BetConstruct, the 2015 IGA Innovator of the Year, has launched a fascinating new product called BetCloud. The new facility allows BetConstruct customers to take high bets than they would normally allow by spreading the risk among fellow like-minded operators. Essentially BetCloud allows participants to accept bets over their established limits and pass the excess to the BetCloud, to be accepted by other BetCloud users.
BetCloud benefits operators by allowing them to accept sportsbook wagers that they would otherwise turn away, and allows participating BetCloud operators to gain revenue by accepting a certain portion of the bets sold by other partners. Both these facilities will have an immediate and positive impact on operators’ profitability.
“Our goal is to help our partners grow their businesses. The BetCloud accomplishes this without requiring operators to accept unnecessary risk,” said Vahe Baloulian, BetConstruct’s CEO. “BetCloud establishes the first online marketplace for gaming operators to accept and share larger than usual bets and this will positively affect revenues of all participants.”
BetCloud allows BetConstruct partners to share the risk of a large bet within the community of BetConstruct partners meaning that members of the BetCloud will no longer be required to refuse a bet because it is too large, which should encourage brand stickiness.
BetCloud enables operators to accept large bets and keep the part of the bet up to the bookmaker’s individual single bet limit, the rest of the risk will be assumed by the BetCloud partners.
As a participant of the BetCloud bookmakers have the benefit of being able to acquire bets sold by other partners without a drop in quality. BetConstruct adds that all bets in BetCloud are subject to BetConstruct’s ‘strict risk management procedures’.
So not only can BetCloud increase revenues, it can help better manage an operator’s cash flow as they will incur fewer large winning bets during any given period.
BetConstruct’s Sportsbook offers 20,000 live matches per month, and has a wide ranging portfolio including a White Label solution, and a number of data feed products, such as Odds Feed, Live Scouting Data and Live Sports Video Streaming.