OpenBet has over 25 years of experience in providing innovative, modular technology, content and services, and has most recently reaffirmed its status as front-runner in the sports betting world with SportCast’s BetBuilder product.
Ahead of SBC Summit Latinoamerica 2022, Marc Crean, VP Commercial, LatAm and Canada, discusses OpenBet’s plans for expansion in LatAm, as well as the continued success of the company’s product suite
SBC: OpenBet’s presence within the global sports betting sector is well documented, with a robust, innovative and constantly growing offering of technology, content, and services. What do you have in store for SBC Summit Latinoamerica?
We’re looking forward to discussing the great strides we have made with our modular product suite, which includes all the features you would expect to see in a competitive sportsbook and more, covering a vast range of technology, content and services. We have seen exponential growth in recent months, and our platform’s ability to scale and take huge volumes of bets on the largest sporting events at peak times is unrivalled in the industry. This reliability and stability is critical for our partners to spend more of their time on marketing activities around the most prestigious sporting fixtures, such as the World Cup, safe in the knowledge that the platform won’t let them down.
SBC: How important is the LatAm region for OpenBet, given the continent’s passion for sports?
OpenBet has a proud heritage of delivering world class sports betting experiences for operators and players worldwide, helping to build their operations at scale and taking their business to the next level. Through our world class platform technology, content and services, we have strong ambitions to power the next generation of sportsbooks in LatAm, and build a betting entertainment ecosystem that drives all our partners into market leadership positions.
In particular, the content at our disposal gives us the confidence that we can achieve this. The passion for sports in LatAm markets is well known, and SportCast’s industry leading BetBuilder solution, which delivers odds and prices for countless game eventualities and allows players to build their own bets, has the capability to provide a deeper and richer betting experience for those players. In addition to this, the pre-canned version contains pre-built BetBuilder markets, made available to bettors, as well as an amplified singles offering with its pricing feed. The whole continent is crucial for our long-term expansion strategy, and we’re excited to make further in-roads into a number of countries.
SBC: One LatAm market with a great deal of potential is Brazil, with the largest population in the region and a passion for sports to match. How important is this market to OpenBet?
Once the issues with regulation have been resolved, Brazil will of course be of great importance to us. The potential gains of succeeding here cannot be understated – it is home to possibly the most enthusiastic football fans in the world. The country’s aptitude for innovation is also notable – historically, Brazil has been an early adopter of technology and trends, while the consumption and use of social media there is unparalleled. When it eventually becomes regulated, it will likely become a development hub for our latest creative endeavors.
SBC: The imminent World Cup is set to be a monumental event for the world of sports betting. How are you placed to capitalise on this, especially considering the increasing popularity of football in the US?
This year’s World Cup will be intriguing, given that it is taking place in November and December, and the increased popularity of football in North America, paired with the rise of legalized sports betting there, indicates that our platform, along with BetBuilder, will process record numbers of bets during the tournament. BetBuilder provides the ultimate same-game parlay betting experience to players, one of the most in-demand offerings in today’s industry, and is sure to drive player acquisition, retention and lifetime value. Early estimates place bets wagered during the tournament to exceed $231bn and, if 2018’s World Cup is any indicator, this is likely to be surpassed; with more than 177 million bets processed and a peak of 18,000 bets per minute placed for a single sportsbook at the last event, we are well-prepared for another record-breaker in terms of stake and bet volumes.
SBC: With regards to your roadmap for future development, what are OpenBet’s goals for the remainder of the year?
With even more US states set to introduce legalized sports betting, as well as Brazil edging closer to embracing regulation, these are exciting times. We very much want to be at the heart of driving sports betting entertainment for the masses across this huge region, so extending our international footprint across the Americas is a top priority for us. In particular, we want to ensure all of our LatAm customers have access to the crucial content offered by BetBuilder – its ability to offer billions of combinations of bets within single sporting events is revolutionary and offers increased engagement opportunities for sportsbook operators of all kinds.
