A state-of-the-art online and mobile sportsbook platform


that can deliver a smooth and seamless player experience is a must – our platform is


WHERE THE CAPITAL NEEDS TO BE SPENT


Operators must not think they can enter the Bulgarian market with a second-rate product and customer service offering and succeed based on their brand power alone.


Bwin offers a stark example. Bwin entered Bulgaria back in November 2016, but since then has failed to capture more than five per cent of the market despite the operator’s success in other global jurisdictions.


SO, WHAT IS THE FORMULA FOR SUCCESS IN BULGARIA?


A state-of-the-art online and mobile sportsbook platform that can deliver a smooth and seamless player experience is a must – our platform is proprietary and has been in development for months. Operators must offer a wide range of markets and odds, and players expect the same features as in other markets such as in-play and cash out. We believe exchange betting will also be big in Bulgaria.


Customer service will also be a point of difference between those that succeed and those that don’t, and we believe the only way to provide the best support is locally. Tis means investing in a customer support centre based in Bulgaria which is then staffed by natives to ensure players receive the best possible experience.


proprietary and has been in development for months. Operators must offer a wide range of markets and odds, and players expect the same features as in other markets such as in-play and cash out. We believe exchange betting will also be big in Bulgaria.


Cash must also be spent on marketing and development, but operators will have to strike the right balance between the two – we think a 65/35 percentage split is the right balance.


Marketing activity must be data driven to ensure that it reaches the right audience and that the optimal return on investment is achieved. Tis is certainly the case for those with smaller budgets.


HOW MUCH CAPITAL IS REQUIRED TO SUCCEED IN BULGARIA?


Te capital required will vary from operator to operator, but a conservative estimate would be in the low two-digit million euros for the first three years. Between 35 and 40 per cent of this needs to be allocated towards developing local


operational infrastructure as this ultimately is what will allow new brands to stand out from their rivals.


Of course, that is in addition to the €1m operators will need to set aside to successfully clear the licensing process and the millions of euros they will pay in taxes each year.


WHY INVESTORS SHOULD WORK WITH OPERATORS TARGETING THE MARKET


Bulgaria is one of the most untapped regulated online gambling markets in the world and we forecast it will achieve 20 per cent AGR for the next five years. Te market is limited in terms of competition with mostly local operators active online and with Bwin struggling to compete with market leader, bet365.


Tis presents a huge opportunity for operators such as Sportingwin to enter the market with a best-in-class product offering and to ultimately become one of the top two operators. While we are getting towards the end of the licensing process, we are still looking for additional investment selling up to €1m in equity to ensure we can achieve our ambitions in the market.


Tis, we believe, presents investors with a big opportunity to put their money into a business that is primed and ready to succeed in a regulated market where the risks are low and the rewards are high.


NEWSWIRE / INTERACTIVE / MARKET DATA P65


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