SBC News Voice of the Sports Betting Industry
Having committed to a £100m+ investment, BoyleSports has embarked on a major transformation of its UK growth strategy and profile.
Spearheading a new UK vision CEO, Vlad Kaltenieks shares his views on regulatory dynamics and the innovation needed to shake-up UK betting and its status-quo of heritage competitors.
Speaking ahead of SBC Summit Lisbon, Kalteniek explains how BoyleSports is repositioning itself for long-term growth by bringing forward a new omni-channel service that has yet to be championed to British consumers.
Hi Vlad, great to interview you ahead of SBC Summit Lisbon. Can you detail to SBC News how BoyleSports is observing and engaging with changes in its home market of Ireland and abroad?
Hello, great to speak to you and I very much look forward to being in Lisbon for SBC Summit in September. Myself and the team take a proactive approach by surveying the market landscape to ensure we stay up-to-date with any developments and have time to understand what this might mean for our business.
It’s a busy space right now for us, particularly with the phased roll out of the Irish Gambling Regulation Act. Our compliance, commercial, operations, and product and technology teams are working very closely together, so that all of the intricacies are considered and we are continuing to deliver an exceptional customer experience both in our digital offering and our retail shops.
Let’s take a look at Ireland. How confident are you in the new regulatory framework of the Gambling Regulation Bill? Changes are long sought by business, but do they improve the competitive make-up of Irish gambling?
We have been advocating for regulation in Ireland for some time and welcomed the Gambling Regulation Bill, which was signed into law last year, becoming the Gambling Regulation Act. Indeed, we, like most other bookmakers in the Irish market, signed up to a voluntary code of practice before the new legislation was introduced which covers most of the issues dealt with by the new act.
For us as a business this creates a stable and predictable framework that we can successfully operate within, and it is very encouraging to see that the newly established regulator is engaging with stakeholders to ensure the regulation meets the intent of the legislation.
We already have very extensive client protection systems in place. But with legislated regulation the same rules will apply to everybody, improving the competitive make-up of Irish gambling by putting companies like BoyleSports on a level playing field with less scrupulous operators who might not place the same weight on client protection.
Still in its nascent stage of application, what are the blind spots of the GRB’s new framework? How should authorities proceed with caution to address changes needed in consumer protection, advertising, and to combat fraud?
As I mentioned, this needs to be a level playing field for all the participants in the market and it is good to see the regulator actively engaging in consultation.
One clear focus should be the curtailment of unlicensed operators. There are a number of very credible reports on the ‘shocking’ size of the black market in a number of regulated markets. Clearly, unlicensed operators can play fast and loose with regulation to the detriment of players.
This also extends to advertisements. There was a case recently where an offshore operator targeted players in the UK without any safer gambling messages.
Further, there should be continued collaboration on the level of evidence required to combat fraud, especially as many customers find requests for financial details, such as bank statements, intrusive and disproportionate.
There can be no compromise when it comes to protecting consumers. It must remain the priority, not only for the regulator, but for every company in the sector. At the same time, a well-functioning, competitive market benefits everyone.
Overregulation – especially when it extends beyond what is necessary to ensure consumer safety – can stifle competition and inadvertently undermine the very protections the regulations seek to guarantee. For example, overly strict limits on maximum stakes may not only distort competition but could also drive otherwise responsible individuals to unregulated black-market alternatives, where they lack any meaningful protection.
I believe that the regulation is on the right track, and as you there are a number of items to work through and obviously further dialogue can only be helpful for everybody.
In recent years, BoyleSports has expanded its presence in UK gambling, targeting a larger high-street presence. Has this expansion strategy been impacted due to regulatory inertia on the application of Gambling Review changes (especially with regard to land-based venues)?
You would have heard me say last year in Lisbon, that we are big believers in retail and that absolutely continues for us.
I see an opportunity for us to deliver an exceptional customer experience and service, given our family business roots in Ireland, and deep experience and heritage in racing.
We are very much progressing with our plans.
This decade, gambling in the UK and Ireland has undertaken a transformative reorganisation. Does the reality simply point to gambling in these markets becoming a low-growth, stagnated sector? Where do you see growth coming to these markets?
The goal of the Gambling Review is to get the regulation fit for the digital age, which continues to build on a very successful regulatory foundation and the market continues to evolve, where customer preferences are shifting too.
So I really see this as a very good environment for a responsible operator, such as ourselves, to continue to explore opportunities and deliver exciting entertaining experiences to our existing and prospective customers.
At a time of regulatory change across multiple markets, what is your key advice to leaders attending the SBC Summit?
We know how technology has changed and is changing our industry. However, I am not sure everybody appreciates the rate of change we will see in the coming years. The way we bet will be very different in 10 years’ time, which means that our businesses will not only have to adapt but to lead.
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