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SPORTS BETTING BETBAZAR
Betbazar: matches made in heaven
Following his experience as Business Development Manager at BetGenius, Alexandr Iaroshenko, CEO at Betbazar, identified a gap in gaming for a 'matchmaker'.
Despite a never-ending stream of partnerships, agreements and integrations flooding industry mailboxes, Alexandr explains how Betbazar drives extra betting revenues and brings efficiency to the negotiation process.
Could you tell us more about Betbazar and the company's role within the gaming industry?
Currently, lots of companies are trying to push their own product without much of an understanding on what the other side, the customer or potential client, is interested in. Our alternative approach focuses on the client’s perspective whereby we act more like a client partner than a supplier partner. Betbazar focuses on driving extra betting revenues and bringing more efficiency to the sales process.
After eight years at BetGenius, what interested you personally with essentially creating a unique market that sits between supplier and operator?
At BetGenius I learnt about the ‘human approach’ where you approach a potential business partner with an understanding of what they want and what they do rather than just
learning about what your company does. Here we have found a gap for matchmaking. We learn everything about a potential client through their recent activity and how they portray themselves in the media. We do our homework. We investigate a company to find out their offering, what kind of platforms they are using, their funding, margins, and investments. Going in with concrete analysis to show a gap for synergy for a potential partnership is the best approach.
Interestingly, Betbazar also offers a vast range of content, how does this fit into the business model?
Te strength of Betbazar lies in the company not being one dimensional and dependent on a particular vertical such as sportsbooks. We have different kinds of product we can offer. Sometimes there is a case where we cannot integrate a certain offering with a client, but we can offer something away from their platform, such as KYC services or marketing tools. Being able to offer different things of a very high quality allows us to sooner or later monetise a relationship and bring value.
Does this shift Betbazar's position away from serving as a 'middleman' between operators and suppliers towards the latter?
It’s a hybrid model. It is more than consulting although we have expertise and people trust in what we say and do. It is not a hub because that would suggest we handle integrations, but a
We learn everything about a potential client through their recent activity and how they portray themselves in the media. We do our homework. We investigate a company to find out their offering, what kind of platforms they are using, their funding, margins, and investments.
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‘sales hub’ would be accurate. We take a deep dive into what partners need and hire relevant experts dependent on the project at hand. For example, we will hire someone with casino expertise as it’s much easier to hire somebody who already knows the process. With regards to the content that we offer through our partner, BETER, this has become a huge part of our portfolio over the last year and a half.
Can you offer examples of companies you have 'matched’?
We have matched 20-25 brands in the last years which have included William Hill, bet365, Fortuna, and Parimatch. At the beginning, we had a firm focus on the CIS region because that was my geographic focus whilst working at BetGenius. Now we are extending our presence into different markets. Other examples I can publicly give is an agreement between Betsy and Hub88, who are now cooperating over multiple projects. On KYC we formed a match with one of the biggest casino providers in Ukraine. However, our predominant focus has been on BETER content for the last year.
How has the business model changed since you set up the company?
We were initially focused on in-play betting content which BETER now provides. Tis has since evolved through multiple partnerships, and we have grown from the CIS to have a significant presence in Europe and representatives in Latin America. During the pandemic we did look at Africa, but quickly found that a completely different approach is required to penetrate this market. For now, we have postponed this activity and are focusing on Europe, CIS, LatAm and the Americas. I believe we have the greatest potential in America where we continue to grow exponentially.
What are operators currently looking for from suppliers?
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