ParlayBay will fill a gap in the market by going ‘beyond basic gamification’ and delivering a ‘game designed’ sports betting product, the company’s Commercial Manager William Lövqvist told SBC News.
Ahead of SBC Summit Barcelona, Lövqvist (pictured, below) spoke with Rasmus Sojmark – CEO of SBC – about the brand’s launch, creating an engaging experience for players and how ParlayBay plans to combine the best of casino and sports betting to create added value for sports bettors.
SBC: So, you plan to launch ParlayBay at SBC Summit Barcelona! Can you tell us a little bit about the company and what you do?
WL: Some gambling veterans put their minds together to bring something new to the sports betting and igaming market. You do know a few of them, Rasmus!
After a couple of years of R&D, the company can start revealing some of the first products and value propositions. In brief, we game designed sports betting, which goes beyond basic gamification. We started off by fully being dedicated to creating a game changing and engaging experience for the many players.
In our product range of sports betting games, game-play is relatively fast, consists of short rounds and you don’t need to be an expert sports punter to participate.
We have also created new, yet intuitive, permutations of markets and betting objects for players, using our partner Genius Sports and our own sports models. All this packaged into a smooth and attractive UX/UI for a superior player experience.
SBC: What was the thought process behind launching ParlayBay?
WL: Live betting was a huge step to make sports betting more intriguing and faster. But we were thinking that by combining the best of worlds from casino vertical and sport betting, as well as adding some extra rewarding elements, we can create something new that can fill a gap in gaming space.
In the casino industry, for example, players stay in the app. But in sports betting, they don’t. This had natural explanations, but the gap is too big. We then realised that we can deliver more value to sports betting players and have them spend more time in the app than previously, hence delivering more value to the game and its operator.
SBC: And why is now the perfect time to launch the brand?
WL: The timing for us is perfect! After a long R&D phase, followed by a year of development, which has now reached some milestones, the timing and context here at SBC Summit Barcelona is great.
The platform is operational, the license process with MGA started just ahead of the summer, the first product suite is ready for MVP launch, and then the commercialisation starts now. So it’s simply time to start to introduce ParlayBay to the rest of the igaming community!
SBC: In such a saturated betting and gaming market, how will ParlayBay stand out from the competition?
WL: Firstly, we don’t aim to replace existing sports betting providers or compete with the proprietary offers; our products go on top of that, and bring that extra value to the players.
Secondly, we are of the strong belief there is always room for products with new and great UX. We also think our products will appeal to a broader customer base and that you don’t have to be a stats nerd to bet on our games.
SBC: ParlayBay is driven by a group of iGaming industry veterans – how important has this wealth of experience from a range of different leading figures been in your overall development process?
WL: As said, a lot of work has been put into R&D, games design, UI/UX and so forth – here I think experience is an important factor. Also, the members of the team are bringing valuable networks, which are an opportunity to reach out to clients, players and media.
SBC: And finally, can you give us a sneak peek into some of the company’s plans for the next 12 months?
WL: The licensing process is underway, but at the same time, we are continuing to work on our road map of delivering according to plan and creating new things. There is room for a lot more innovation and product development in the sports betting sector, so prioritisation is key to getting things out to the market. It is also greatly important when it comes to developing new and superior experiences.
We aim to launch licensed real money gaming in Q1 next year, with an initial focus on the European market – and maybe Asia. We are, of course, very interested in an aggressive go-to-market plan for North America, but we haven’t decided exactly what it’s going to look like yet. Stay tuned.…