In a recent statement, Leonid Pertsovskiy, Chief Executive Officer at Betby, shared insights into the company’s achievements in 2023 offering answers to a couple of retrospective questions.
Can you share key highlights of the company's growth in 2023, both in terms of revenue and market share?
L.P.: Let's start with revenues, turnover, and GGR. We continued the pace that we showed for the previous three years. And for the previous periods, we were growing about three times per year. And to be honest, we did not expect the same pace in 2023 because the bigger the company becomes, the harder it is to keep the pace.
But no matter the initial concerns in 2023 we showed more than 270% growth in revenue compared to the previous year. GGR in the meantime has increased by almost 250% as of November 2023 compared to the same period last year, which again is significant.
This is a direct result of having a broader and more qualitative partner portfolio with the number of end users on our network quadrupling from the previous year. Talking about the new markets - we are strengthening our positions in the markets where we already have a presence. The demand for our product in Latin America is growing from month to month, and we, in that way, became a more recognized brand as a B2B sporting supplier for Latin America.
What strategy and initiatives contributed to the company's success and growth over the past year?
L.P.: While initially trading may not have been a focal point, last year we took a bold step by launching our in-house trading team. Now we can create specialized content for our clients across various geographical niches. It can be sumo coverage for the Japanese market, catering to the unique demands of Brazil, or addressing other locales where conventional feeds fall short, we've developed an in-house capability to provide tailored content that suits the preferences of the local players.
The linchpin of our success lies in our inherent flexibility. Recognizing the evolving intricacies of different markets, we understand the need for flexibility in interface preferences, promotional strategies, language nuances, and currency considerations. We were and continue to be inherently flexible. This flexibility allows us to satisfy any client around the globe.
Another important part of our growth is the service level that we are providing. It is not only about the technology, it is how we cater to our clients on a daily basis. Three years ago, when Betby was in its initial steps most of the clients were served directly by our senior management team, with our clients having their requests addressed in a very short period of time. During the growth our team grew exponentially and nowadays, I am pleased with the depth of the account management, commercials, and support teams. More importantly, we managed to keep the same level of service that our clients used to have - direct and prompt - with 99% of the questions being answered in a very short period of time. And we are talking in a matter of minutes, on a 24/7 basis. This is the core of Betby’s success - the quality and the approach of the service we provide to our partners.
How has the sportsbook industry landscape influenced the company's growth trajectory in 2023?
L.P.: I think it is not about the sportsbook landscape. It is more about the penetration of technology, speed of the internet, and device quality around the globe which can be mentioned here. Three or four years ago, Betby’s sportsbook was not so easy to use in some markets due to the slow bandwidth speeds Internet present in these countries. Now we see that the average speed of the internet which end users can utilize is growing from year to year and our product is becoming more and more attractive for such markets as Latin America, Asia or Africa. This is what allows us to grow in such markets.
For example, Africa is very unique in the way that the technological solutions themselves need to be scaled down or evolved in order to meet the local players’ betting trends.
And at Betby we are always ready to support the specific needs of our clients in order to allow them to position themselves at the forefront of the market.
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