Spain remains a key market for sportsbook technology suppliers and not only because of opportunities in the Iberian nation itself, according to Dinos Stranomitis, the COO and Co-Founder of Altenar.
Ahead of Altenar’s participation in SBC Summit Barcelona – where the company will showcase its products at booth D5 in the Sports Betting Zone and he will take part in the ‘The Future of Sports Betting – the Era of Inflation’ panel – Stranomitis explained why his team continues to make Spain a priority.
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SBC: It’s certainly been a busy six months for Altenar! Can you talk us through your highlights and what’s been key to making them happen?
Dinos Stranomitis: I think, with the first six months of 2022, the key points to consider are returning after the pandemic and what will eventually happen in Eastern Europe.
During the pandemic, we have found that exhibitions have returned to form – we went to many events, and we’ve been successful in ICE in 2022 and then, of course, we have visited many customers in Canada and Barcelona. In the first six months, I actually found myself travelling quite a lot, for a number of reasons!
The other major talking point from this year has, unfortunately, been the situation in Eastern Europe. This isn’t something that has affected us from a business perspective, as we do not have any dealings with the countries involved, however it is one that has been of concern for us as a wider industry.
Last but not least, in 2022 we now have a new sales team in place after an internal restructure exercise, which will be announced very soon. Visibility is important to us – showing our new faces to the market will be a vital part of our efforts to attract as many new partners as possible. It’s a very exciting time for all things Altenar!
SBC: With Altenar’s sportsbook live across the majority of Europe’s main markets, what’s your take on what the key topics will be at SBC Barcelona when it comes to developments in Europe and beyond?
DS: The objective is quite simple. We already have a significant footprint in Spain, we have JOKERBET, as well as signing Casino Gran Madrid, and we will see two more operators soon coming to us. We’ve got a fantastic team working with the market and we’re set for further expansion in Spain, so stay tuned!
Besides that, Spain is very much the gateway to LatAm, so with that in mind, we expect to see some of our existing LatAm customers coming to Barcelona. SBC Barcelona presents us with the opportunity to have meetings and host existing customers and potential partners. Our objective is to continue growing in Spain, with an aim to establish ourselves well in LatAm. Given that it’s such a dynamic growth region, I certainly expect it to be a key part of the event’s agenda!
SBC: Looking to the show, what’s Altenar excited about and what are your plans for showcasing your products on the floor?
DS: On the show floor, we will be promoting all of the fantastic new features we’ve launched recently. The Altenar sportsbook really is one of the best in the game, and we’re looking forward to showcasing why we’re the best of the best.
North America is a key part of our expansion plans, so first up is our bet builder – which we’re about to launch for American football, as well as for baseball – which I think sports fans are really going to enjoy. Our 0% margin for selected football events has proven really popular, as well as early-payouts, all of which have been excellent for operator engagement and retention.
For us, it’s safe to say that whoever visits us will see a very strong product, with the potential for many more things to come. Given our approach to innovation and standing out from the crowd, we always prioritise close communication with our audience and markets – meaning we always aim to keep the industry informed on what they can expect from us.
SBC: Given the current regulatory outlook for Europe, what’s your advice to the industry and operator partners on getting the best out of engagement and retention with players?
DS: The main focus for the industry, for our partners, for our relationships, and indeed for everything, is that it is now very clear that a company with a future is one that holds licences. My advice would be to be licensed in as many countries as possible, with the UKGC and MGA being key examples.
Internally, every operator and every provider needs to be efficient in a compliance sense, and have the technical ability to support those licences. This means having a specific department that takes care of certification, compliance, and regulatory technical constraints.
This is a process that we make look easy: we just make sure that we have the right people in the right place. Investment is necessary to succeed in areas like this – I would advise the industry to internally build a department that takes care of licences. For us, such an approach has really paid off, and with 13 major jurisdictions now our home, including the UK, Malta, Spain, Colombia, Denmark and Sweden, we’re really proud of what we’ve achieved over the last decade.
SBC: Last but not least, comparing North America, LatAm and Europe – which markets do you see offering the best opportunities for growth in 2023 and beyond?
DS: I would agree that at this moment the main growth region is the US, but we are waiting patiently in the corner to see what happens there. Other than that, in terms of North America, there is potential in Canada. Mexico also presents some opportunities but fighting for further growth there is not easy, as in many ways it is a very mature market.
In Latin America, we have a very strong and solid footprint. Progress there will be determined by Brazil’s next move; it will be difficult if Brazil does not introduce regulation similar to the European framework. I believe this will be crucial for its growth.
Of course, the obvious target for 2023 is Europe. There’s still plenty of space for innovation and given that there are plenty of small-to-medium operators looking to make a name for themselves, there is space for competition. As to how we come into that – we’ve got great scope to work with both up-and-coming brands, as well fostering growth with tier one operators to help them maintain market share.
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The SBC Summit Barcelona 2022 conference and exhibition takes place at Fira Barcelona Montjuïc on 20-22 September. The event’s Sports Betting Zone features a conference agenda that tackles the big issues and new technologies shaping the future of the industry, along with a show floor with scores of leading suppliers showcasing their latest innovations, extensive networking facilities and evening networking parties.
Passes for the Summit are available from the event’s website, where you can also find details of the discounted Group Pass packages.