SBC News Voice of the Sports Betting Industry
After opening their smartphones, consumers have a raft of apps at their fingertips such as social media platforms, trading and investment services and betting brands – and the latter can learn some lessons from its counterparts.
In an interview with SBC News, Kero Sports Founder and CEO Tomash Devenishek expressed this viewpoint, arguing that betting firms can up their entertainment edge by adopting the practices of social media apps.
“By 2018 and 2019 there was this macro-trend emerging amongst social media platforms, especially Instagram and TikTok – they were offering curated feeds of entertainment, anticipating the wants of their users based on their previous activity,” he said. “As a result, all users had to do was simply swipe their thumb on a screen to view more.”
A keen sports fan, Devenishek wanted to bring this to the industry, whilst recognising an opportunity to revolutionise wagering by capitalising on the historic connection between sports and betting.
With the historic connection between sports and gambling, Devenishek saw an opportunity to revolutionise sports betting, with the CEO adding: “If you compare the current mainstream entertainment tech available to a sportsbook it is very different.”
Founded in 2019, Kero Sports is a white-label platform that enables in-game micro-betting for existing apps such as professional sports teams, broadcasters, and sportsbooks.
Using AI technology, the platform offers curated micro-bets every 15-45 seconds, keeping users engaged whenever they bet, similar to when playing slots or when they see a TikTok perfectly curated for them.
Looking to social media, the firm has drawn inspiration from the curated feed of news and entertainment these apps provide – such as quick-fire TikToks and Instagram reels – prepared particularly for users’ amusement and engagement in mind.
Kero Sports currently maintains active partnerships with 20 different American sports franchises across all major leagues including the NBA, NCAA, NFL, NHL, and MLB, and back in September it secured the winning spot in the SBC Summit pitching competition in Barcelona.
The company continues to take progressive steps towards its end objective of simplifying sports micro-betting, striving to do for gambling what RobinHood did for stock trading whilst targeting the ease of use and entertainment value of TikTok and Instagram.
“Barcelona was our third pitching competition in 10 months,” Devenishek continued. “We used the time between pitches to develop the company and build partnerships with more teams, strengthening our company’s offering and thus our pitch to investors.”
Investor and engagement and networking have been crucial to this mission too, however, as the firm looks to secure funding and strategic advice whilst widening its connections.
“While we are very pleased with the outcome of Barcelona, we are also grateful for the connections made at the conference,” the firm’s CEO continued.
“The igaming and sports betting industry is niche, the online micro-sport betting an even narrower field. Making connections with strategic firms, investors and individuals in the space is crucial.”
One of the companies Kero Sports was exposed to was Yolo Investments. Yolo Investments is a venture capital firm aimed at bringing next-level innovation to seed and A-stage start-ups across gaming and fintech.
Powering the inaugural SBC Summit Barcelona competition, Yolo Investments offered a two-day workshop to the winner of the competition – Kero Sport.
While the summit was its first time engaging directly with Yolo Investments, it has proven to be a valuable connection, as the company participated in Kero Sports’ most recent funding round.
“We’ve heard of Yolo Investments before as they are known for their engagement and specialities in igaming, fintech, and venture capital.
“We look forward to working with them and getting their unique expertise on the macro-trends dominating the igaming and fintech industry, helping us tailor our business strategy to the wants and needs of the industry without forgetting the needs of the modern-day media consumer.”
Devenishek’s closing remark was a simple and bold statement of intent for the future of his company: “We are building the next generation of second-screen gaming in sports.”
Looking to the immediate future, Kero Sports recently closed its second stage of funding, securing $2m (USD). Through networking effects, it is looking to expand its offering to new franchises, continuing to mature its product so more sports fans can bet within its team’s app.
