Pulse
SPORTS BETTING TWAIN SPORT
suggest partners either create a separate category or place Twain Sport as a sports category within their list of sports.
What we are ultimately pushing for is a separate category, as although Twain Sport is big-sports- themed, it is not comparable to any traditional major sport out there. With all the partners we have launched with so far, they do place us in a dedicated category. What we will not allow - and this is something we are very disciplined with - is to launch Twain Sport under live casino.
Does Twain Sport’s uniqueness pose a challenge to building its profile?
Tere has been massive interest from operators and we have been quite overwhelmed with the level of interest. It's high-quality content innovation with a great integrity concept. We have attained a high level of trust from even the tier-one operators, and we've spoken to all of them. Tey will all integrate Twain Sport in the coming months, it's just a matter of when because of the World Cup. We are live with a dozen of operators and more than 60 have started the integration process already which is a massive achievement and reflects that we’ve done our compliance homework.
There has been massive interest from operators and we have been quite overwhelmed with the level of interest. It's high-quality content innovation with a great integrity concept. We have attained a high level of trust from even the tier-one operators, and we've spoken to all of them. They will all integrate Twain Sport in the coming months, it's just a matter of when because of the World Cup.
Addressing the question directly, at the end of the day, only players will decide if the product is strong enough to become a standalone category in the longer term. We deeply believe in Twain Sport because it's the first time in a long period we've seen content innovation. Tere has been plenty of innovation in the back-end sphere with all kinds of machine learning, player protection, segmentation, and other marketing tools, but there has been little content innovation because of the high-risk and regulatory hurdles.
P84 WIRE / PULSE / INSIGHT / REPORTS
Tis is why the first 18 months were so tricky from an integrity perspective as we were engaging three or four lawyers to ensure we built a betting product in such a way that we can launch Twain in the UK, Germany, Ontario or any other tier one markets. Of course, this will take some time, and I think it's a fair question to ask. We are on a good way and will soon announce further regulatory approvals.
As it is, hybrid sports tournaments are not an established sport, but the numbers we are seeing so far have been very encouraging. If Twain Sport is strong enough to build a profile in mature markets, it'll be an undoubted success.
T-Basket is Twain Sport’s first hybrid sport to have gone live. Why begin with basketball?
Tis wasn't our decision but that of the Hybrid Sports League, so we had to take what they gave us in the beginning! We can't really dictate what they build. Whilst there is some alignment, they are the league and create the sports independently, and that is good. When we signed the contracts, we agreed on a rough roadmap of what's next as we are investing a lot of money.
A key reason for them to start with basketball was simply that from an operational perspective it's the simplest one to do in Lithuania. Basketball is by far the number one sport, it’s a religion there, and there is plenty of local talent available. Twain Sport consists entirely of professional players employed full-time by the league. All are former league one or league two players, guaranteeing quality.
With football, there is a lot of pressure to make a blockbuster product. We cannot compromise or experiment - it will need to hit the ground running from day one. Tis will take more time to develop despite being easier to organise. Getting the right concept that doesn't get boring after some time will be key.
How has T-Basket performed with operators since going live?
Te key metric we are monitoring is player count. I want to see if they come and if they stay. If everything else regarding the odds model is correct and proper, which it is, other metrics such as stakes and GGR will follow automatically. What we have seen is that they are coming and, albeit only a short time after going live, engagement and retention is quite high - higher than that of BetGames in fact.
Whilst I can't tell you numbers, our average stake in Europe is 2.5x than what we initially expected based on our research and existing BetGames business. Tis gives us a lot of confidence going forwards.
I do not expect T-Basket to be a top product in the UK, but we will launch there, and the football themed product is around the corner to attack in these markets as well. Tis is more for basketball-crazy nations. We will see if Twain Sport will succeed to such an extent that it will forge its own category, with a fragmented usage of each individual offering across different markets, or if we will have to pivot and only offer certain sports for specific markets.
How are you looking to build the Twain Sport brand from a B2B perspective?
We have been quite surprised how easy it has been to get meetings with the top brands. Everyone has taken notice of this new product and you will be hard pressed to find an operator who hasn't heard of it. Tere is a massive appetite out there for something new, and the numbers will decide where Twain Sport sits as an integration priority.
In such a competitive environment, a B2B brand can only be built by showing product performance. Te positive thing is we do not need to compare ourselves with anyone else as we are alone in offering this type of product. Twain Sport drives retention and optimises player value. In principle, this is the key thing. We are trying to push the big guys to give us a spot on their roadmaps that are jam-packed 18 months in advance, and this is only exacerbated by a big event such as the World Cup.
Our challenge is to move the conversation on from 'brilliant, let's catch up in January' by evidencing the product's impact with hard facts. We could be way further on from an integrations perspective if we had simply allowed operators to position us within their casino offering. Tis would go with the existing BetGames integration, meaning no work in the back end and Twain Sport being switched on within a week.
However, we want to stay disciplined on this because Twain Sport is a sports product and should be positioned as such. Yes, it is a hybrid, but the offering is more akin to sports, virtual sports and esports, and the target audience certainly is.
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