SBC News Voice of the Sports Betting Industry
Algosport CEO Leigh Herdman on providing a Betbuilder solution for EveryMatrix, including the main sports involved, adding FIFA to capitalise on the esports momentum in lockdown and the importance of integrating with the client’s bet placement infrastructure.
SBC: Can you tell us how this deal came about? Why do you think Algosport was best placed to optimise the same game multiples for EveryMatrix?
LH: EveryMatrix is a major B2B supplier in sports betting and they were looking for a Betbuilder solution that they could administer and operate in house without having to rely on a rival B2B supplier. Our unique way of integrating provides them with that ownership.
SBC: How important was the addition of FIFA to your Betbuilder suite given the betting boom we saw during the first Covid-19 lockdown?
LH: The plan was for us to launch the football Betbuilder in time for Euro 2020, however Covid put a stop to that. At the time, EveryMatrix was obtaining good revenues for esports, especially those which were sports based. We then thought we could adapt the existing work that had been done for football and take the EveryMatrix FIFA product to the next level.
SBC: On a technical level, are the same game multiples for FIFA markets through OddsMatrix integrated in the same way as for traditional sports?
LH: The integration is the same across all sports. The odds, format and state of an event are sent to our system via an API from which we build an internal model for the event that provides the basis for Betbuilder and other products. So for FIFA, basketball or tennis the integration is the same, it’s just a matter of supplying the correct event data to our API.
SBC: And sticking to the technical side, your systems have been housed within EveryMatrix’s platform infrastructure; is this a perk of the EveryMatrix sportsbook solution or testament to your own flexible technology?
LH: This is the standard delivery of our solution as it’s designed to fit seamlessly within our customer’s bet placement infrastructure without any external dependency. A local installation gives customers total control over scaling, security and maintenance windows and the ability to offer Betbuilder on any match they have odds for with minimal latency.
SBC: We understand you will start with football and basketball, but what sports should we expect to see next?
LH: Tennis, snooker and handball are currently in the pipeline with an aim for a full roll out of all the popular sports by the end of the next year.
SBC: And what about placing several in event combinations across multiple events and sports as a single bet? Is this already available and live through EveryMatrix?
LH: Yes, this is already available and live with EveryMatrix. Our system allows us to be integrated within the bet placement process and so Betbuilder bets can appear like a single event leg within the platform. That allows Betbuilder bets across events and sports to be combined along with anything else that can be added to an accumulator.
SBC: What are your expectations for the EveryMatrix deal? What percentage of bets can clients reasonably expect to start coming through the Betbuilder?
LH: From our other customers, we have seen that approximately 10% of revenue is generated across the football product. However, we see most of this revenue coming from major high profile matches where it can reach 25% which is in line with what other companies have reported.
SBC: Just finally, what are the plans for Algosport going forward?
LH: As well as developing the Betbuilder solution to include all the most popular sports, we are working on several other “next generation” betting products which we are planning to unveil in the near future.
