Exclusive interview CEO of Betbazar, Alex Iaroshenko for G3 magazine

Alex Iaroshenko, CEO of BETBAZAR, discusses the future of its digital iGaming marketplace that connects creators with buyers to accelerate growth powered by best-in-class products.

In what areas is the gaming industry's customer supplier status quo inefficient and how is Betbazar looking to disrupt the model?

I want to start with a disclaimer. Not every company in the gaming industry is using outdated methods. Some are very progressive and consider the client first, product second, and this encapsulates the Betbazar marketplace. 

We consider what a client might want from products due to the markets they operate in, their own unique needs, what clients they have and what type of content is lacking in their portfolio. We conduct an analysis of the client which differs from the typical approach of "here's a new product, do you want to try it?" with little consideration given to who they are or what they might want to achieve.

What does this analysis entail and how does it differ from an aggregator? 

The typical aggregator approach comes with the big benefit of one integration. You don't need to integrate multiple providers; you integrate one aggregator and get lots of products from one hand. The Betbazar marketplace is a bit different, I believe. We offer products across multiple verticals - casino, esports & sports betting content, KYC - and work only with the best from each.

In some areas we only offer a few products that we know will perform whereas with casino slot games you have to offer many. Another point of difference is in our pricing. An aggregator is usually one set price whereas with Betbazar it's a bespoke approach. We always strive to find the best deal possible for operator clients.

How do you assure operators that you're not selecting from preferred providers, but hand-picked games that fill gaps in their portfolio?

In some cases, we have only one provider of a certain kind of product, like a platform, for example. After years of being in the industry, I believe our reputation from ensuring things work for both sides is very important. We value relationships with clients built on trust. Therefore, we will not offer something that we're not sure about and will not deliver a certain level of revenue or results. 

Betbazar also has content it creates in-house...?

Yes, we have some products that we are creating in-house that we will be ready to present very soon. Alongside these, we are also working on modules that will be easier for our partners and clients to integrate - like an integration hub.

Is an integration hub a relatively new concept?

For as long as we've been working for the biggest content providers in the global gaming industry, I think about providing different services and products. Betbazar has evolved as a company from when it was established. At one point we were an exclusive provider for one of our biggest partners. From there we identified a bigger niche and also can move in a different direction additionally.

Does Betbazar’s roster of operator partners comprise young companies open to a fresh approach looking for a different model? 

Yes and no. Unfortunately, gaming is quite a conservative industry. People don't want to try new things because a lot of money is at stake. They're most likely to buy when they already see a product performing elsewhere so they can achieve guaranteed results. In other ways it is a super progressive industry compared to others. We are trying new things, but few in our industry want to be the first, yet the first to do reaps the greatest benefits. One example is operators who were brave enough to offer esports betting content before the pandemic when live sports came to an end.

Is esports betting living up to its potential?

Interesting question. A big deal was once made of the fact that esports has a bigger audience than ice hockey so when operators integrated esports betting products they were disappointed when they didn't perform as expected. But it takes time for people to understand how to use it, promote it and get a marketing strategy in place to establish an audience. 

I am a big believer in esports betting. It will continue to grow, perhaps not exponentially as expected initially, but it will grow. The esports audience is different and should be treated as such in how esports betting is promoted. The classic sports betting and bookmaker approach doesn't and won't work.