BETBY Never Satisfied Relatively speaking, BETBY hasn’t really been around that long. CEO Leonid
Pertsovskiy reflects on a business journey that has seen the supplier go from relative unknown to significant industry player within a matter of years.
Being able to sign a deal with a renowned brand ambassador at the prime of his career is no small feat. As a co-founder of the business, you're perfectly positioned to explain: just how far has BETBY come in these last six years? Did you ever think that you'd be in this kind of position so soon?
To be honest, no. If somebody, during the early stages of the company, would have told me that Magnus Carlsen would be coming to Riga to sign a brand ambassadorship with my company himself, I'd never have believed them. But now we are on a level where we can achieve such a feat and it's only the beginning. While it is a multi-year, long- term partnership, we have a lot of things to introduce in the coming years.
Could you take us back to your thinking in late 2017 / early 2018 when you founded what was to become BETBY. What gap did you see in the market? Give us a sense of where your head was at when you founded the business.
Me and my partners had been in this industry for a while already and we used to partner with our current competitors on previous projects, so we knew a lot about the sportsbook products on offer. However, we realised that none of them could really satisfy our needs and thought that maybe it's not only us who share this viewpoint. We wanted to create something more innovative, modern and beautiful because all the sportsbooks weren't investing a lot in the UI.
Te rather unrefined interfaces and UIX back then was hard to understand for casual players and that's how we came to create
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BETBY. It was our mission in the beginning to fill this gap and create something that would be comfortable to use for the casual player. But then we realised that it is not only about the interface. Tere are also a lot of features missing there and we are still evolving and have identified a lot of things that still should be introduced into the sportsbook industry. We are on the way to doing that.
What were the early challenges for the business? Were there instances where you thought the business might not get off the ground or achieve the success you desired?
Honestly, if I knew then what I know about the challenges of creating a good sportsbook product, then perhaps I would not be in the business because it is a very complex and demanding project that only a select few companies can truly deliver. Tere are so many things that need to be controlled. I think the sportsbook is the most difficult product in the whole iGaming industry, technologically speaking, in terms of the risk management, trading – all its aspects. However, we decided to take these issues as a challenge, acknowledge there are a lot of problems, and embark on a journey to find solutions to them. I think we are well on the way to achieving this.
Are there particular investors, early customers or colleagues - former or existing - that have been instrumental in BETBY becoming the business it is today?
Yes, we have had a couple of clients from the very beginning, they are of course my ex-partners and friends from the industry. I deeply
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