BetConstruct commercial director George Voyatzis talks about his journey through the gaming industry and gives an insight into what providers should do to boost their presence in this increasingly competitive market.
Tell us about your background in the industry and how your current position with BetConstruct came about.
I have been working in the gambling industry for over eight years. My initial role was working as Head of Sales for an odds comparison website that also supplied a number of B2B solutions to the industry, such as trading and marketing tools. I then moved to the sports betting watchdog and review site BookmakersReview.com, where I was responsible for marketing and business development. I joined BetConstruct in January 2014 as commercial director, primarily tasked with business development in regulated and emerging markets.
What did you learn about the industry in your previous industry roles and how have they assisted you in your time with BetConstruct?
The most important thing I have learnt was that a company’s success is down to the quality of staff and how they treat their customers. Being involved in the customer-side of sports betting operations taught me that focusing on customer service is a prerequisite of all successful operators and suppliers. At BetConstruct our partners and their players come first. There are reasons for bad reputations, and the main one is that fundamentally there are no shortcuts in creating a successful, established company.
What have been the main developments in sports betting in recent years and how has BetConstruct’s sportsbook product catered fort hese?
There has been an overall increase in the number of live-betting markets and non- derivative markets offered. We now offer coverage of over 20,000 live events per month. We have our own scouting network accounting for a significant proportion of these events, with many that are exclusive to us and not covered by other bookmakers. Earlier this year we also added a cash-out function, something which is fast becoming an industry norm.
Finally, there has been an increase in the availability of watch and bet streaming. We incorporated the best streaming supplier some time ago and also hold streaming rights to certain markets that are exclusive to BetConstruct and its operators.
Why did BetConstruct decide to apply for a Class4 remote gaming licence for its sportsbook product in Malta?
We have not just applied but have been granted a Class4 licence by the Malta Gaming Authority (MGA). As part of our regulated market strategy, being licensed by the MGA gives our new and existing clients more options when entering regulated territories.
What are the main technological challenges BetConstruct faces?
The shift towards regulation in many European jurisdictions has created an extra technological consideration for BetConstruct. Developing new products now has a new dynamic. It is not ideal that most jurisdictions have different technical aspects a supplier needs to certify, and this compliance is costly and labour intensive.
How are you expecting sports-betting operators to differentiate their offerings in the run-up to next summer’s football European Championship?
I can only really comment on what our company has planned and advocated. We differentiate by offering the largest coverage of any sports-betting supplier, with flexible management and our enhanced cash-out option. We will also offer all our partners an enhanced margin control of betting markets, enabling them to create new depositing customers and benefit from an increase in the deposits of existing customers.
What are the key things a low to mid-level provider must do in order to establish itself as one of the more prominent providers in the industry?
A number of providers have experienced growth recently and now primarily focus on providing to Tier 1 operations, ignoring medium enterprises. Larger providers are often guilty of not reacting to client needs and not being flexible. As in any business, growth comes from being attentive to your customers and not ignoring them because of their size. It is also important to constantly develop your products and be at the cutting edge.
How do marketing channels used by providers vary based on the size of the provider?
Larger companies typically have bigger budgets for expos and conferences, media and public relations. However, today, with access to social media, companies of any size can be heard and recognised. The best marketing for any provider is what your clients say about you and the strength of your products.