SBC News Voice of the Sports Betting Industry
In recent years, the iGaming industry has undergone tremendous growth – from new markets opening up, to the creation and implementation of new technologies. And while this has presented a whole host of opportunities, it has also presented a unique set of challenges for operators and suppliers alike.
Overcoming these challenges may be easier said than done. But Yevhen Krazhan, newly-appointed Head of Global Sales at GR8 Tech, believes that GR8 Tech might just have the solution.
Chatting to SBC News ahead of the SBC Summit Barcelona event, Krazhan reflects on the past months at GR8 Tech, exploring how the company is helping its operator clients to navigate the biggest challenges across the iGaming industry.
He places the spotlight on leveraging technology and ensuring scalability, before highlighting the reasons why GR8 Tech has taken a “holistic, tech-driven approach” when creating new solutions.
SBC: It’s been just over seven months since GR8 Tech carried out its brand evolution. Can you give us an overview of the company’s performance so far? What have been the biggest milestones for GR8 Tech in these months?
YK: GR8 Tech has achieved significant progress over the recent months. After our pivotal brand evolution, we’ve introduced two major iGaming solutions: ‘iGaming Launch’, catering to partners entering new markets or launching brands, and ‘iGaming Upgrade’, tailored for those requiring a seamless migration to the new platform or integration of a new solution into operator’s existing ecosystem.
Our standalone product, the GR8 Sportsbook, not only garnered nominations at both the SBC and SiGMA Awards, but has been instrumental in offering real-time risk management and managed trading, catering to a massive concurrent user base during peak loads.
On the sports feed front, our GR8 Feed stands out, covering over 50 sports and blending top feed provider data with our unique local feed. Also, with a dedicated team of 200+ in-house sports traders, we’ve built a dynamic, profitable, and user-friendly interface for our partners.
Overall, our focus remains on leveraging technology, ensuring scalability, and providing holistic solutions to our operator clients.
SBC: How are you using standalone products such as GR8 Sportsbook to create added value for your operator clients?
YK: Our offerings consist of solutions and products, and these two categories perfectly complement each other. While the solutions cover a wide range of needs and can be adjusted to tailor to a particular operator, the process takes a lot of time.
Sometimes operators don’t have that time on their hands – but the glaring business need is there and requires action here and now. In cases like that, standalone products come into play, as they cater to a narrower demand, compared to the solutions, and can be implemented quicker, with much less resources.
Products also give a great “taste” of working with GR8 Tech: if the operator is interested in our tech or services but is not sure about jumping to the new platform altogether, trying out standalone products can provide an understanding of our wide capabilities and high standards.
SBC: The power of technology to deliver innovative solutions is an increasingly popular topic for discussions at industry events. What’s GR8 Tech’s stance?
YK: GR8 Tech is keenly aware of the myriad challenges operators face, from entry into new markets to solidifying their presence in established ones. One might assume that the solution is to introduce a new feature or a quick fix. However, GR8 Tech’s approach is more holistic and tech-driven.
To use sports betting as an example: while the issue of low and volatile sport betting margins is getting more and more widespread, we often see many quick-fixes that provide only a little short-term effect. We approach this multifaceted challenge differently, by offering a tiered solution.
We understand that to truly get ahead, operators need solutions that encompass margin customizations, risk management, seamless product integration, etc. Our focus on reducing latency, for instance, by owning our broadcast video signal, ensures that bets are accepted faster. This results in a more engaged gaming experience, increased sports turnover, and sport betting margins at 8-9%.
Furthermore, our strategies, such as avoiding market closures during sudden game changes, like when a goal is scored, and ensuring the longest betting uptime, keep player engagement high and also boost profitability. For VIP gamers, we provide a dedicated communication channel for custom rates and bets, ensuring a bespoke, engaged experience.
Casino gaming isn’t left behind either. We’ve seen the constraints of legacy architecture in many online casinos, which often suffer from slow load times and rigid front-ends. In response, the GR8 Casino offers a scalable, widget-based interface that meets modern user demands and can be adapted quickly to fit various market needs.
Our bonus engine has also been refined, offering diverse bonuses for different casino products. This combination of factors contributes to heightened player engagement and, consequently, increased revenue.
SBC: Over the next few months, what can we expect to see from GR8 Tech? Will we see some new products / partnerships announced?
YK: Yes, exciting times are ahead! Among the main upcoming developments, you can expect the addition of iFrame to GR8 Sportsbook, which will allow to easily integrate the sportsbook directly into operators’ existing websites or applications without having to do extensive development work. iFrame is very popular in the Asian markets and has the potential to be in demand in other regions due to its ease of integration, short TTM, cost-effectiveness, customization opportunities, etc.
Last but not least, we’re gearing up to launch our standalone Casino product – after years of successful implementation within our clients’ ecosystems, where it has consistently proven its effectiveness, reliability, and undeniable appeal. While the standalone product is new to the market, the technology powering it is long-running and refined, offering a best-in-class gaming experience right out of the gate.
SBC: Can you give us a sneak peek into what you will be showcasing at SBC Barcelona?
YK: At the upcoming SBC Summit Barcelona, GR8 Tech will present a comprehensive suite of our offerings. Delegates visiting booth #CG414 can delve deep into our solutions and standalone products, including GR8 Casino and our double-nominated GR8 Sportsbook. For those keen on strategic insights, I, along with other integral members of the GR8 sales team, will be available for discussions, providing clarity on how our solutions can elevate iGaming ventures.
A highlight on September 21 will be our CEO, Evgen Belousov’s presentation titled “The power of tech solutions: launching and upgrading your iGaming operation”, in which he will address the challenges operators frequently encounter and demonstrate how GR8 Tech can transform these challenges into opportunities.
As Evgen aptly puts it, this summit is a critical juncture for GR8 Tech, where we aim to offer clear, impactful solutions to real-world issues in the iGaming sector.
