At Betting Trends Forum, CEO of Entergaming Platform Thanos Marinos will tell how to retain customers using the betting platform and innovations, also addressing all risks that should be taken into account. We’ve had a chance to talk to expert before the main betting event.
Interviewer: Betting Trends Forum (BTF)
Expert: Thanos Marinos (Т.М.)
BTF: Thanos, one of the issues you are going to talk about at Betting Trends Forum is risks of bookmaker platforms. What are these risks in particular?( i think you need to alternate the question to “risk management in bookmakers platform”.
Т.М.: Risk Management is one of the key determinators of profitability for the Operators. In order to be able to perform at its best, Platform needs to be able to have the ability to create new markets (derivative markets) so it can differentiate from the competition and also be able to manage correctly the Risk (by creating What IF scenarios anytime) and alternate its lines and odds according to its exposure. It has to do of course with the Risk Management team you have in place, and how good are the specialists, but it has to do also with what kind of modules the platform can offer to your team to compliment their efforts.
BTF: Are these risks the same for western and Russian platforms?
Т.М.: It needs to be mentioned that the western operators have a different approach towards risk management and how to implement mechanisms on how to handle it. They are monitoring the market and adjust prices accordingly: not because they believe in the price they are offering BUT just because the market price has changed. Also, many of the risk management teams of western Operators are automated rather than personalized.
In Russia and CIS, some of the small to medium size Operators have just a feed taken from providers, and they just accept bets without being able to do proper risk management.
The top 10 of Russian Operators have in place a vast number of 100s of traders as they are trying to cover more and more events every year. The main issue with Risk management is that it requires your Platform to have the proper Trading tool and modules to enable the risk management team to make their work more efficient. Let us not forget that the quality doesn't always arrive from quantity: It doesn't mean you have a good risk management team just because you have 400 traders…
BTF: Are there any changed in tools for player retention over the last years?
Т.М.: Player retention is always very much connected with each market that the Operator is operating: Different retention plan will be needed in Greece and different in the UK. Social media and SEO are of course important for a number of markets but despite the innovation that we have seen the last years in the sector, not much has changed on the retention campaigns: Operators are utilizing internal and external CRM tools in order to be able to “talk” to their customers and increase loyalty to the brand .The majority of them are failing to offer a personalized approach to each segment of their database: e.g. sending a 5 euro bonus to a casual punter and a VIP player..
BTF: How closely are you focusing on cryptocurrency issue? What are your estimations of the Bitcoin role in the industry?
Т.М.: We have been actually at the forefront of bitcoin and i have launched the 1st Bitcoin exchange in Greece in 2013, in the middle of the financial crisis. I am a firm believer of blockchain technology, and not just bitcoin as a currency, and as we can see now, more and more companies from various sectors are incorporating blockchain and bitcoin. At the same time betting and gaming, as anticipated, are adopting bitcoin very quickly and regulators like the Isle of Man and Malta are already considering the best way to introduce bitcoin.
BTF: What kind of audience are you expecting to see at Betting Trends Forum 2017, and which results are you waiting for?
Т.М.: I have seen the list of speakers which promises to be a very interesting event and looking forward to catch up with a friend from the industry. Very interested to see how the SRO’s are developing as there are many international operators that are waiting my feedback on this!
Waiting for you on March 31 at the Betting Trends Forum 2017!
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