Eastern Europe
Betfan with PLN 3.75 Million Net Profit in First Half of 2023
Betfan, a legal Polish bookmaker and one of the industry leaders, generated a total turnover of PLN 213.5 million (EUR 48 million) in the first half of 2023. This is an increase of 8% year-on-year. Bookmaker’s NGR from January to June this year increased by 26% year-on-year to PLN 20.7 million (EUR 4.7 million).
In Q2 2023 alone, the company’s NGR growth was even faster and amounted to 44% year-on-year. In the first half of this year, Betfan generated a net profit of PLN 3.75 million (EUR 0.8 million).
Betfan is an online bookmaker with 98% of its turnover in the first half of 2023 coming from online betting. Hence, the organization primary investments are directed towards the mobile application. In 2023 users saw its new version, both on iOS and Android. The bookmaker focused on the transformation from a marketing-oriented organization to a technology oriented one. The company intends to invest further in this area in the future.
“In 2023, we have been operating according to a new strategy that is already bringing measurable results,” the Chief Executive Officer for Betfan, Lukasz Lazarewicz (pictured), said. “The dynamics of the total turnover, after deduction of bonuses and ‘free bets’, exceeded 10% in the first half of the year and our NGR has been growing even faster. In the first quarter it increased by 23% and in the second by 44%. This shows the high effectiveness of the introduced changes.
“As an e-betting company, we put emphasis on constantly improving our product and the customer experience. We want the Betfan website and the app to be even more engaging, intuitive and fast. We have built solid internal competences in this area and we rely less and less on external partners. We want to actively listen to users because it is for them that we build our product.
“At the same time, we pursue a prudent customer acquisition policy with targeted marketing based on analytics without the industry-wide artificial boosting of bonuses. The result is a high net profit in the first half of this year worth PLN 3.75 million.”
One of the positive effects of the new Betfan strategy was an increase in conversion from registration to the first deposit to 76% and in users activity on the platform. In 2023, the customer base grew substantially, which at the end of June 2023 was 37% higher than in June 2022. One of the ways of its further development is also the newly launched affiliate program and unique media partnerships with market leaders.
At the same time, Betfan is developing a network of stationary betting terminals. As a result, at the end of June Betfan had over 100 of them in Poland. The turnover and NGR in this area have been growing by leaps and bounds. In the first half of 2023, these were higher by 161% and 228% respectively, compared to the first half of 2022. The bookmaker plans to launch another 30 terminals this year.
Eastern Europe
EveryMatrix launches ‘Academy for Heroes’ to help Ukraine military veterans develop IT careers
A new fully EveryMatrix-funded project aimed at helping veterans of the war in Ukraine transition to develop new careers in technology has launched in Lviv.
The NGO, entitled ‘Academy for Heroes’, is spearheaded by EveryMatrix and was inspired by its 300+ employees, based in Lviv in Ukraine, some of whom are fighting in the war.
There are hundreds of thousands of combatants in Ukraine, a number that is rising every day. Following their return from war, sometimes with serious injuries, many need social adaptation and work that can provide a more certain future.
The Academy will organise courses designed by leading experts in the IT industry, enabling former military personnel to gain the knowledge and skills needed for successful IT careers.
Beyond its primary goal of equipping veterans with IT skills, it also aims to help them successfully integrate into today’s labour market. EveryMatrix and several other local IT companies will be involved in the employment of veterans after they have completed courses.
Ebbe Groes, Group CEO and Co-Founder, EveryMatrix, said: “Our Lviv office is central to our continued success and growth. Ever since the country has experienced conflict we have supported our friends and colleagues, as well as charities, with much needed funds committing more than €2 million to date, and we will continue to help them.
“Now, we’re taking that one step further by setting up our second company NGO to ensure veterans receive the training and skills they need to return to work and develop successful careers in technology.
“The IT industry is one of the strongest parts of the Ukrainian economy, renowned worldwide for technical skills. I hope many will either join us or go on to join other IT companies, giving them hope and a more certain future for themselves and their families.”
Professor Oleksiy Druhov, CEO, Academy for Heroes, said: “This is the only continuously operating project of its kind in Ukraine for military veterans. Our goal is to teach four groups of veterans every year.
“Each group will have its own specialisation such as Project Management, Quality Assurance and Full stack to name just a few areas. We carefully monitor the Ukrainian IT market and only train the specialisms required.
“All participants will undergo internships at EveryMatrix and other leading Ukrainian IT companies during their studies and they will have the best teachers from the IT Industry. We are also planning to open a specialised, inclusive-friendly training centre at the end of 2024.”
This is the second fully funded NGO that EveryMatrix has initiated. In 2015 the iGaming technology provider established TeachStream supplying much needed funds and resources to disadvantaged children in Romania who might otherwise never have the opportunity to develop IT, computer science, mathematics and English skills.
Eastern Europe
Soft2Bet Invest Wins the “Outstanding Contribution to Gaming 2024” Award at SiGMA East Europe
Soft2Bet is delighted to announce that its Soft2Bet Invest venture has won the Outstanding Contribution to Gaming 2024 award at this year’s SiGMA East Europe taking place this week in Budapest, Hungary.
The award celebrates executives and organisations that make significant impacts on the industry through technical innovation, advocacy or mentoring and investments. Winning the “Outstanding Contribution to Gaming 2024” award for this category is therefore fantastic recognition of Sof2Bet’s work and efforts in the field.
Soft2Bet Invest launched a €50m iGaming Innovation Fund to support innovative iGaming and casual gaming companies and provide financial and business support to entrepreneurs. It reaches across the corporate spectrum and is open to growth-stage and/or mature companies that are harnessing pioneering technologies in casual gaming, AI, traffic differentiators or behavioural-UX analytics.
Launched in 2024, Soft2Bet Invest has already attracted major interest from iGaming startups and visionaries wanting to innovate and revolutionise the sector. Its investment bracket ranges from €500K to €1m per individual project, with the investment strategy to be discussed on a case-by-case basis.
Martin Collins, Chief Business Development Officer at Soft2Bet, commented: “Winning this award is highly rewarding since we launched Soft2Bet Invest just this year. It shows the hunger there is among our industry peers for a specialist investment fund that can harness the energy within iGaming and turn entrepreneurial dreams into realities. Soft2Bet’s focus has always been innovation, of spirit, business and technology, and this award recognises those qualities. We’re truly delighted to have won it!”
Eastern Europe
Imagine Live Expands Partnership with Betera: Launching a Dedicated Studio for the Belarusian Market
Imagine Live, a live casino solutions provider, announces a significant expansion in its partnership with Betera, a leading iGaming operator in Belarus. This collaboration will see the launch of a dedicated studio designed to deliver a highly competitive gaming experience for Betera’s players featuring a branded studio offering both Roulette and
Blackjack tables.
Strengthening Ties and Presence in the Belarusian Market
This new collaboration marks a milestone for Imagine Live as it further demonstrates its commitment to the Belarusian market. The beautifully designed studio provides a gaming experience that aligns perfectly with Belarusian players’ expectations.
Betera Studio Features
Standards in the Live Casino space are extremely competitive and as expected imagine live HD Streaming, Multi-lingual dealers and superb back office combined with the best studio designs in the market will surpass expectations of the both the partner and their players.
“We are delighted to expand our partnership with Betera through the launch of this dedicated studio,” said Hakob Manukyan, CEO of Imagine Live Armenia. “This initiative underscores our commitment to delivering top-quality, localized gaming experiences. By leveraging our bespoke technology and industry knowledge, we are poised to set new standards in the Belarusian iGaming market.”
Pavel Chernik, Head of Gambling Products at Betera, shared: “Our collaboration with Imagine Live, a live casino solutions provider, continues to expand. We are proud to unveil the launch of the dedicated studio, designed to deliver superior gaming experience featuring exclusive branded tables – Betera Blackjack 1 and Betera Roulette. This is a significant step for both companies, and we are thrilled about the opportunities that lie ahead with this collaboration.”
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