In today’s igaming landscape, a reliable, customisable and powerful player account management (PAM) system is an essential asset for operators. Whether it be an online casino, sportsbook, ilottery or any other igaming vertical platform, operators need to be able to rely on their PAM, as well as the supplier of the technology.
Betstack, a new B2B supplier – albeit an established innovator – strives to provide not only a technologically advanced product that can more than hold its own weight in the current market, but also have the empathy and understanding to appropriately speak to its clients.
The company, founded by CEO Justin Deutsch, has its roots in B2C operations. Four years ago, Deutsch founded STX – a betting exchange platform – which required him to build out an entire sportsbook platform complete with a PAM/back office system that can power traditional sportsbook, exchange, casino, lottery products and more.
“Throughout the process, we explored utilizing industry standard third party PAM solutions used by tier one brands rather than building in-house, and we were faced with the same responses over and over such as long integration lead times, no feature differentiation from the rest of the market, and limited customization on both the backend and frontend experiences,” Deutsch tells SBC Americas.
“Now that our B2C exchange product STX has been live in regulated Ontario for over a year, we decided to explore expanding by partnering with other brands in new jurisdictions that already have product-market fit but could benefit from a more efficient and customizable backend platform to increase GGR while reducing operational overhead.”
Creating a PAM solution for all igaming operators
Deutsch views his experience on the B2C side of the business as a significant advantage over competitors in the PAM market, noting that its own continued pursuit to improve its profitability and customer lifetime value ultimately benefits its B2B partners as well.
STX is licensed and live in Ontario, Canada holding a GLI-33 Certification. The platform is also built to New Jersey standards and is well prepared to adapt to any requirements from other jurisdictions.
Deutsch explains: “The beauty of having a B2B PAM partner that also operates a B2C brand is the constant improvements and delivery you will see, even when it is not something you request. We are constantly striving to improve our product and all improvements we make will be inherently passed through to all of our partners.
“Many B2B suppliers are good at listening to complaints and requests from their clients and then putting them on the backburner. With us, things are different.”
Betstack’s platform is split up into two key parts: the PAM platform and the sports betting exchange. Each of them have been leavened by Deutsch’s and STX’s experiences in the B2C sector and will be refined to ensure B2B customers can get the most out of the products.
An essential part of this, in Deutsch’s opinion, is allowing clients the ability to customize both the front and backend of the platform. So whether the partner is an online casino, ilottery operator or sportsbook, they can tailor the platform to their individual needs.
Clients can adapt the frontend so that they can maximize player retention by improving the user experience within the operator’s app, a key consideration of today’s casual yet savvy player. Not enough emphasis is put into retention in comparison to acquisition, Deutsch asserts, but Betstack serves to change this.
In addition to the player focus, trading and operational teams have the ability to customize the backend to suit their own preferences.
“Your operations, compliance, trading and marketing teams will all thank you for using Betstack,” says Betstack’s CEO. “Our back office is fully customizable to recognize what role you support in the business and give you only the tools you need to work efficiently. The tools even allow individuals within the organization to design their own back office as they see fit. We have yet to see this valuable feature offered by any other PAM available in the North American market.
“We don’t believe in one size fits all. Every member of the team has their own needs and we put efficiency above all else. If you need it, we will build it.”
Ultimately, every B2B supplier serves to solve problems for their clients and Betstack is no different. The firm has identified that for operators looking for PAM solutions, there are two key issues that they bump into when scaling up: speed and cost.
Consequently, Betstack is intent on providing high quality solutions to its customers at a reasonable price point that ensures they can still operate to a profitable margin, a unique and enviable combination.
Thanks to its experienced team of engineers and the high-quality code they are able to deliver, Betstack can get new features to market quickly, enabling partners to compete with tier one players on the market.
Deutsch outlines: “It is nearly impossible for tier two or three brands to compete with the tier ones when every new feature they get, the tier ones deployed months before. Feature requests can sit on a large scale PAM’s back burner for 12-18 months and, by the time they get around to it, the rest of the industry either has it or something new and shinier is needed to retain your customers. Betstack prides itself on its ability to deliver quickly without the risk of breaking everything in the process.”
‘Exchange platforms can help improve pricing’
Meanwhile, on the exchange side of the platform, Deutsch says that even though exchanges are essential to success in some jurisdictions already, the vertical is the platform of the future. If brands want to remain sustainable by capturing a wider player base than they are able to today, they will need an exchange, he says.
While often viewed as a hub for more sophisticated players and sharp bettors, exchanges are set to explode in popularity globally according to Betstack. The firm attributes this partly to a combination of enhanced UX and the social aspect at the heart of exchanges that allows brands to provide players with more value than a standalone traditional sportsbook.
“Exchanges not only breed tighter pricing spreads and more liquidity, but they also give the operator incredibly valuable data to enhance internal pricing systems. Betstack has the ability to power a hybrid exchange/sportsbook that will allow operators to indulge the sharpest of bettors on their platform and benefit from them to increase margin.”
The firm also wants to engage with those sharper bettors rather than alienate them. While, as some leading operators outlined in a recent Massachusetts Gaming Commission meeting, leading operators explained they often limited bettors who appear to have an advantage, Betstack is eager to use sharps to improve its own operations.
“We view sharp bettors as a huge benefit to our ecosystem, as we can utilize their knowledge to enhance our internal pricing,” Deutsch explains. “Sportsbooks across the globe are hitting the M&A markets to purchase data science companies dedicated to pricing sports markets at hefty multiples. Instead of paying up to try to beat the pros, why not embrace the pros and let their origination become a retention tool for the rest of the user base?
“With the Betstack platform, operating partners will now have the tools to do so and it is likely in the coming years you will see the tightest pricing and highest margins come from sportsbooks powered by Betstack.”
This year, Betstack has been building out a team of experienced sports betting executives to help propel its presence and authority in the space before heading out to market. The firm is currently seeking to be present in “every high growth jurisdiction in the world” and is seeking licenses in many others.
The firm will be present in Las Vegas next week for G2E, where it will be showcasing its products and solutions to potential clients.
Deutsch concludes: “Each of our partners will know that they have our full attention and resources will be at their disposal. Come stop by Stand 2247 to see Betstack in action and meet the team! Make sure you ask for a demo of the back office as well as our consumer facing exchange product.”
