It is well known that the modern gaming industry is undergoing a period of prolonged prosperity. The market is replenished with the new entrants in casino and sports betting, while modern technologies and access to the internet remove any territorial limitations.
It goes without saying that competition among industry participants is extremely high, particularly for those companies that do not have clear differentiation. So how should new companies take action when competing with the gambling giants which have reached all corners of the globe?
To this end Peter Korpusenko, CEO of TVBET, addresses a year of development for the firm as a fourfold increase is targeted during 2020.
CasinoBeats: What goals/targets did TVBET establish at the beginning of 2019? Where did you envision being by this point?
Peter Korpusenko: First of all, it must be noted that 2019 has become our starting line of the complex market entry. The company was established in 2017, but only from this year have we started to promote our product globally. Our main goal was to reach out to both national and international operators in Europe, CIS, Asia, Africa and Latin America.
In terms of direct communication, the main emphasis was on attending conferences to find partners in these regions. Thus, TVBET was presented at more than 10 events as a participant, such as Betting on Sports, SiGMA, iGB, SAGSE, ICE, BEGE, etc.
At the same time, TVBET’s marketing promotion was making itself evident. We have striven to become market leaders in the niche of fast live-games by the end of the year. And looking at our progress, we can say that we have succeeded a lot. More and more casinos and sports betting operators integrate our fast live-games, and there is an even greater potential for growth.
CB: Could you talk us through some of the high and low points or the year?
PK: We’ve carried out a very active campaign on the European market by starting cooperation with many partners there. The whole year was accompanied by the significant rapid growth of both GGR and the average check. It’s hard to imagine that more than 100 companies integrated our games in just a year.
It is important to note that there have also been positive results in the introduction of our new games 1Bet, Lucky6 and BackgammonBet, while punters have also showed interest in the form of a growing number of bets. And overall, at the end of the year, TVBET games are represented on all continents, which we consider a remarkable accomplishment for the team.
One shadow which was cast was the restrictions of any type of live games in Kazakhstan which leads to suspension of the activities of all providers there. As a result, in November we saw a small decline in the total number of bets with regard to this prohibition, but now it has already been compensated.
CB: Differentiation is key across most sectors worldwide, what is the TVBET approach in this area?
PK: Differentiation is at the core of our product. We stand out among casinos and bookmakers by the fact that our fast live-games constitute a “mix” of their best features. All 11 games are designed as live lottery and casino games which accept bets. Similarly to sports betting, everyone can choose various options online or on up to 10 future events, while the live format evokes more confidence among casino players.
By comparing TVBET with the B2B providers in the niche of live-games, players benefit from our betting line, jackpots and various bonuses. Unlike the competitors, the mentioned functionality allowed us to significantly increase the volume of bets on our games.
CB: Live games are going from strength to strength, why do you believe this is so? What resonates with customers?
PK: It’s a fact that players’ interest in live games has enormous potential. We see it in our analytical reports. In this regard, we note the average monthly increase in the number of bets of 25-30 per cent on TVBET games. And that’s even the average check remains the same. Also, the high demand for high-quality live games is evidenced by the fact that over the year more than 100 operators became our partners.
CB: Finally, what does 2020 have in store for both TVBET and live games?
PK: In 2020 we plan to keep our own course in creating a unique gaming experience for the more demanding audience. We won’t be stepping back from the format of fast live-games. Some special games for each region are under preparation now. Our goal remains to expand the partner base, and furthermore, if the present growth dynamics maintain, TVBET plans to make a fourfold increase over the next year. We need to reaffirm our ambitions, which is why we will do our best to surprise players with our new products.