Interviews
Q&A: Sportingwin and the Bulgaria opportunity
Mark Chakravarti, Head of Investment at Sportingwin, talks about why the operator sees such potential in the market and how it has found the licensing process to date
Bulgaria has had a major shake-up when it comes to how gambling operators are licensed and regulated in the country with the National Revenue Agency recently taking on the responsibility.
Amid allegations of corruption among its predecessor, the State Gambling Commission, the new regulator is moving forwards with plans to issue additional licences over the coming months.
The first in line to receive such a licence is Sportingwin, which has ambitious plans for Bulgaria once it has been given the green light to launch.
To learn more about Bulgaria and the operatorâs plans for the market, we sat down with Mark Chakravarti, Head of Investment at Sportingwin.
Why do you see so much potential in Bulgaria?
You just have to look at the numbers to see the potential. We estimate the Bulgaria market to be worth around ÂŁ300m right now but as new operators enter the fray it could grow at a rate of 20% per year to hit ÂŁ500m over the course of the next five years.
Coupled with this is the low level of competition. Only five betting licences have been issued to date and mostly to local retail bookmakers with a limited online offering. These sites simply donât offer the depth of markets, odds and products available in other European jurisdictions.
This presents a tremendous opportunity for experienced online sportsbooks to make their mark, so long as they enter Bulgaria with a localised product that delivers a superior player experience. Those that do are very much in the driving seat to capitalise on the tremendous potential on the table.
What do Bulgarian players look for in an online sportsbook?
There is a long tradition of retail and online sports betting in Bulgaria, so players are seeking a comprehensive, quality, cutting-edge product and experience similar to that offered and found in mature markets such as the UK.
In particular, they are seeking a high volume of events, a range of bet types as well as modern features such cash out. We also believe that exchange betting, while not currently available, will be hugely popular once we secure our licence and launch the Sportingwin exchange in the market.
How will you meet those needs and localise your offering?
There are two key ways we are doing this â product and our approach to CRM. When it comes to product, we are developing a proprietary platform that is fully customisable for each market we enter, including Bulgaria. This includes localised payment options, currencies, sports, etc.
In terms of CRM, we are investing in a local customer support centre so that we can comfortably meet the staff-intensive local language CRM and marketing operations and activities we believe will enable us to communicate to and engage with Bulgarian players.
How have you found the licencing process to date?
The Bulgarian regulator has incredibly high standards and expectations when it comes to due diligence. As such, the licensing process has been a little slower than in other jurisdictions, but we are okay with this as we want to make sure we not only meet but exceed their standards.
This means taking additional steps such as appointing a dedicated Bulgarian CEO. He has a proven background in gaming and the regulator can quickly carry out the necessary checks that it needs to in order to ascertain his credibility and suitability for the role.
Owning our own technology has also allowed us to synchronise our platform with the NRA already, which in turn means we are among those on the regulatorâs list of approved technologies ready for when our licence is granted.
In addition, we are a Maltese company so have requested that the Maltese consulate in Bulgaria monitor the licensing process from start to finish as our application is the first to be considered since the Nation Revenue Agency took over regulatory responsibility earlier in the year.
By having the right people on a local level, and by taking considered steps towards ensuring we meet the standards set by regulator, we expect to receive our licence in the first quarter of next year.
What has been the toughest challenge to overcome?
The toughest challenge is in respect to the due diligence and in particular the requirement of having an âŹ800,000 investment from a local, proven source of funds. To do this, we have had to find a local banking partner which was easier said than done.
That being said, the team pulled together and we were able to find a local banking partner happy to facilitate the investment allowing us to progress through the licensing process.
What are your long-term plans for the Bulgarian market?
We want to claim 9% of the local market within the first three years. We then plan to build on this rapidly by securing further venture capital that will enable us to consolidate the market through mergers and acquisitions with local operators.
Once we have achieved the scale we are seeking, we can then effectively pursue market leader bet365. It is a tough task, but one that we are more than capable of completing thanks to the incredible team we have built out in recent years.
We also believe our cutting-edge proprietary technology and platform gives us a huge edge over the incumbent operators and brands and will allow us to compete with and defeat any other overseas operators that enter the market.
What is your long-term plan for Sportingwin?
We are currently undertaking a fundraising campaign to help accelerate our global expansion efforts, selling off more than âŹ1m in equity.
These investments are in line with our long-term strategy for the brand which is to achieve a valuation of âŹ50m in three years and, once achieved, would deliver a x13 increase on the current investment opportunity.
Africa
SmartSoftâs expertise and future vision for the African market
In recent years, the online gaming landscape has witnessed a surge in innovative and engaging titles that capture the interest of players worldwide. Among these, first ever flying crash game by SmartSoft – JetX emerged as a standout game, particularly gaining substantial traction in Africa. This article provides an in-depth examination of JetX, a popular online crash game, and explores the expertise behind its creation. By focusing on the gameâs features, the developer SmartSoft Gaming, and insights from an interview with the Vice President Commercial, we aim to highlight the factors contributing to JetXâs success and its impact on the gaming industry.
About SmartSoft Gaming
Founded in Georgia in 2015 by industry experts, SmartSoft set out to create a one-of-a-kind casino games provider that offers high-quality gaming experiences worldwide. By combining interactive features with captivating visuals, we blend gaming and gambling to deliver more engaging, entertaining, and superior experiences. Our mission is not just to attract players but to enhance their enjoyment.
To gain further insights into the development of JetX and the vision behind its creation, we spoke with the Vice President Commercial of SmartSoft.
Rusa Javakhishvili Vice President Commercial of SmartSoft shared insights and analytics from African countries, and outlined future plans. Rusa joined SmartSoft two years ago as Head of Finance and Strategic Projects. In early 2024, she transitioned to the commercial side as Head of Account Management, and is now Vice President of Commercials, overseeing several regions, including Africa.
What was the general concept and inspiration behind JetX?
In recent years, the online gaming landscape has witnessed a surge in innovative and engaging titles that capture the interest of players worldwide. Among these, JetX has emerged as a standout game, particularly gaining substantial traction in Africa. The main concept of the game is that it is easy to play, the player is involved in the decision as much as possible, it is fast and within the fast-paced world we think that it delivers exactly what players need for an enjoyable experience.
How does JetX differentiate itself from other crash games in the market?
At SmartSoft, we appreciate our relationships with partners, itâs very important to us. We constantly think and work to create a valuable product and maintain strong connections with them. SmartSoftâs portfolio includes a diverse range of online casino games, each designed to offer unique features and interactive gameplay but JetX is the literal gem!
JetX is an online crash game that combines simplicity with excitement, offering players an engaging betting experience. This dynamic gameplay requires both luck and strategy, appealing to a broad audience seeking quick, high-stakes action. JetX stands out due to its user-friendly interface, real-time gameplay, and mobile compatibility, making it accessible and enjoyable for players on the go. Its growing popularity in Africa can be attributed to its exciting gameplay mechanics and the potential for significant winnings.
What strategies did you employ to ensure JetX appeals to a diverse audience, particularly in Africa?
When we expanded into the African market, we knew itâs a big and diverse region, so itâs important to understand each country individually instead of seeing it as one market. With our partners’ help, weâre working hard to learn about each country’s marketing practices and what types of games people enjoy. Itâs a challenging task, but the African market is a top priority for us, and weâve allocated resources to quickly build our knowledge in this area.
How has JetX been received by African players compared to other regions? Are there any notable differences in player behavior or preferences?
The African market is one of the most interesting and significant for us, and we believe it has great potential. It is a highly dynamic and exciting market, where players are exposed to a wide variety of games. Their enthusiasm for diverse content gives us inspiration and motivation to create games specifically tailored to their unique preferences and needs. Moreover, they are quick to engage with new releases, eagerly embracing fresh content when it aligns with their tastes and expectations. Although Crash products were introduced only recently, they have quickly become a favorite among consumers. We expect this trend to continue growing.
How do you assess player feedback and incorporate it into ongoing game improvements?
This is a crucial aspect for us. Thatâs why, in collaboration with our partners, we consistently review key feedback on our games and strive to incorporate it as much as possible into new versions. We strive to bring enjoyment in everything we do â whether it’s in our work environment, or for the end users. Our goal is to delight both the customers and ourselves with our work. Therefore, we integrate gaming’s fun elements into gambling to maximize enjoyment. This approach fuels our drive to innovate and create playful experiences, redefining the gambling industry and making it more entertaining;
What future developments or updates can players expect for JetX?
Our product has undergone numerous changes since its inception, with many more improvements planned. These changes are aimed at delivering the best possible user experience for players while ensuring the product remains of the highest technical quality.
How has the success of JetX influenced SmartSoftâs approach to game development?
JetX, the first Crash game created in 2018, holds a special place as one of the companyâs most beloved titles. Its global popularity is evident, and we’re thrilled that players enjoy it. At SmartSoft, having a diversified portfolio is crucial, which is why we release new games every year. As pioneers in the Crash genre, we ensure that we continually expand our offerings. Our goal is to provide players with a wide range of high-quality games they can trust to deliver an enjoyable experience.
Interviews
Slot Saturation – Q&A w/ Qianqian Liu, Senior Art Director at Gaming Corps
What are the defining visual features of a Gaming Corps slot?
We pride ourselves on the diversity of the look of our slots, we have three distinct styles that are all used to target different demographics. Firstly, Classic, this is a style which usually is also described as retro and some people would even say dated, we prefer nostalgic! But there is a player base who get great enjoyment from slot games like this. The second is Modern, this is a style that is sleek, shiny and incredibly high-fidelity with assets that look polished and could be very much suited to being hung up in a modern art museum. Thirdly is Stylised, this is a style that is completely entirely dependent on the theme, maybe a comic book style or similar, but it emphasises artistic freedom which is important.
All three of these are what makes Gaming Corps a unique slots provider, catering games for all types of target markets.
Where do you look for inspiration when designing an online slot game?
Different inspirations appear for different themes, if it is classic then an old fruit machine down a pub could be the inspiration. If it is a modern slot, then we like to refer to some modern day mobile apps that are more casual to play. The beauty of stylised is that the inspiration can come from absolutely anywhere but usually it can be something that the artist is personally interested in, such as comic books or anime.
How does Gaming Corp manage to distinguish its titles from others on the market?
We focus on iterations and high quality standards, we will start from a basic concept and iterate and iterate until the asset is exactly what would be expected of the target audience. We get feedback from customers as well to help hone in on a particular style that we are aiming to create.
How do you manage to keep repetitive themes (Egypt, classic, Greece and so on) interesting?
For these, it is all about combining the innovative mechanics with a unique spin on a narrative that has been re-told before. Of course if you are to create an Egyptian theme you should still recognise it to be fundamentally Egyptian with its gods and its hieroglyphs. But is there a way to put the spin on the narrative that ties it to the mechanic that has not been done before. It is important to do market research to find common thread that you can capitalise on but also things to stay away from.
What impact does localisation have on game development from a visual perspective?
Localisation of Gaming Corps is super important to us, we sometimes want to create games that can be tailored for a particular market. Especially when working with casinos for bespoke content. For example, we created a game in 2023 called âRamen Puzzleâ which was launched with a casino partner in Japan. It was very important for us to nail the anime style that suited this market and it was a core part of the development cycle to research, develop and iterate on our designs to perfect the style.
Another recent launch this year was Samba Soccer, a crash product that was created with Brazil in mind. It had a stylisation that suited popular games in that market but also a theming that set the game in Rio de Janeiro. This visual combination allowed the game to be hyper localised to this market.
What future trends do you think are going to impact the look and design of online slot games?
More and more over the years, the target demographic has moved away from playing on desktop to playing on mobile, in particular on mobile portrait, so we will always feel as if designing with a mobile-first approach should be at the forefront of what we do at Gaming Corps. This I believe will continue to trend upwards. This has a big impact on the way that slot games look and feel, there is a small space with lots of elements fighting for room so it is important to be very clear with Product Owners on what are the most important elements of the slot game.
Interviews
Safety First: Slots Temple Q&A
For a company that has begun to blur the lines between affiliate and operator, social responsibility remains the ultimate watchword for Slots Temple, says CEO Fraser Linkleter. Â Â Â
Â
How important is social responsibility to the affiliate side of Slots Templeâs business?
We began life as an affiliate business that offered free demo games and slots tournaments (and we still do!). This allowed us to build a highly engaged base of players that genuinely loved playing slots. From day one, we always put social responsibility at the heart of everything we did.
We always believed that an entertainment-driven socially responsible gaming experience created a sticky player-base that trusted us and created better quality traffic for our partners.
Has tightened regulation of the gambling industry over the past few years impacted affiliatesâ responsibilities towards its users?
Definitely. Affiliates deliver an estimated 30% to 50% of acquisition to operators in the UK, and while the sector is not directly regulated by the UK Gambling Commission, these numbers demonstrate that the responsibility to protect players from harm should be shared.
Increased regulation over the past few years means that operators, rightly, must be more cautious about choosing their affiliate partners. Ultimately, as affiliates, we must accept the responsibilities we share as part of the gambling supply chain.
The reality is, while affiliates are not directly regulated, the standards to which operators are held by regulators are passed on to us through our partner contracts. Affiliates that do not comply with these standards will struggle in this climate because operators will only work with the partners they can trust to behave responsibly. So social responsibility has become not just an ethical consideration but a strategic business decision too.
In 2022 Slots Temple received a license from the UKGC which allowed you to offer paid tournaments and real-money slots. Has this changed the way you think about social responsibility?
Social responsibility was always a big part of our business model, and our UKGC license was a recognition of that. Of course, offering real money games means that we are held to the same high standards as all licensed operators.
That means KYC, deposit limits, timed reality checks, affordability checks, self-exclusion options, and so on. But for us, itâs about more than mere compliance. Our model has always been about being a safe destination for fun play and prizes. As I say, weâve fostered this community of slots fans who trust us and itâs important that we maintain that trust through the way we operate.
Ultimately, the license allowed us to offer our player-base more choice. First, that was free-to-play tournaments with cash prizes, and then low-stakes paid-for tournaments with bigger prizes, plus real-money slots.
So, your experiences as an affiliate have made you a more socially responsible operator?
Yes, because it has helped us understand what our players want. For example, we believe safer gambling is about smaller deposits. Where we offer cash play, itâs always small buy-ins and small bet sizes. There are tournaments for 1p, or you can play for free in UK tournaments, all with real cash prizes.
We also think itâs important to educate players about the games we have on site. For example, we clearly display the return-to-player (RTP) and volatility of the game customers are about to play before they are able to access the game.
Itâs about being on the side of the player â whether youâre an affiliate or an operator. Ultimately, we believe that an entertainment-driven, socially responsible gaming experience will foster a loyal, trusting player-base.
-
Asia6 days ago
NODWIN Gaming partners with Japanese gaming company KONAMI for âeFootball Diwali Showdownâ
-
Australia6 days ago
Australiaâs BetStop Receives International Regulatory Award
-
Industry News7 days ago
Brazilian Ministry of Finance and IBIA sign sports betting integrity agreement
-
Latest News6 days ago
BETBY WELCOMES MAGNUS CARLSEN AS GLOBAL BRAND AMBASSADOR
-
Compliance Updates6 days ago
KSA Imposes a Fine of âŹ675,000 on NetX Betting Limited
-
Asia5 days ago
Revenant Esports and Team XSpark Join Forces to Form Revenant XSpark, ScoutOP Revealed as Brand Ambassador
-
Central Europe6 days ago
NOVOMATIC builds the Groupâs largest photovoltaic system in Lower Austria
-
Latest News6 days ago
Videoslots Launches DBET in Sweden with International Tipset Pools