(Exclusive interview).- BetConstruct Founder & CEO Vigen Badalyan spoke with Focus Gaming News about the main challenges for the company in the current scenario.
Armenia.- Many countries seem to be leaving COVID-19 behind, but the worldwide crisis is just beginning. That’s why Focus Gaming News reached out to Vigen Badalyan, Founder and CEO at BetConstruct, to discuss how the company stands before this situation.
BetConstruct has announced several brand new games and other moves despite the worldwide crisis. How did COVID-19 hit your business since BetConstruct is an iGaming-focused company?
I prefer to focus on the opportunities that may come along during this time rather than on those that we are missing out on now. Surely, sports suffer the most together with sports betting and the scope of sports data products. However, it doesn’t stop us from forging new partnerships with leagues and federations for the future joint ventures. Esports is trending more than ever, we see a successful conversion of traditional sports bettors into e-bettors.
However, the situation with land casinos isn’t that positive yet. On a good note, the rise of online gambling seems to push the industry forward. That is to say operators and software providers like us are on the rise. We will be happy to support online casinos with our offerings and solutions as well as help the land business owners convert their brands to online and attract players from all over the world.
Do you expect the iGaming segment to grow (even more than it has been already growing so far) as quarantines and casino shutdowns forced players to online gaming?
Absolutely. I strongly believe the figures will grow since the reopening of physical venues and casino resorts allegedly fall on mid-summer. But it might take a longer while before hundreds visitors can pull the handles of slot machines and roll the dice in a 100% safe and secure environment. Hence is the rapid increase in online gaming activities.
“Esports is trending more than ever, we see a successful conversion of traditional sports bettors into e-bettors.”Vigen Badalyan, Founder & CEO at BetConstruct
BetConstruct operates nearly in every corner of the world, wherever the segment is allowed. Which are the top markets for the company and where are you aiming as some markets like Latin America continue to grow?
Any region is of interest for us. Our offices are a living proof of the scale that we aim for. Liberalised markets are those where we can have maximum activity for now, but meanwhile we closely follow the situation in every corner of the world. Certainly every state in the US that has an aspiration to legalise sports betting and online gaming will do so in the nearest future. As expected, each region will have their own spin on the local regulations, but we closely follow all the updates.
We watch closely how the situation in Europe unfolds. The Nordics seem quite promising with the pace of their legislative developments coupled with Italy.
Our growth in Latin America is quite visible and we anticipate the increase of our operations within other countries such as Brazil and Mexico.
While gambling laws are forming per region we can’t just sit back and wait for the approval from authorities. The smartest move is to study the regions, investigate gaming cultures and player behaviors.
“We will be happy to support online casinos with our offerings and solutions as well as help the land business owners convert their brands to online and attract players from all over the world.”Vigen Badalyan, Founder & CEO at BetConstruct
You’ve recently said the industry will take a few years to recover from the crisis, what do you think the scenario will be in the meantime and how are you preparing for such a process?
Today we can majorly rely on technology. All gaming events are converted into digital format. IT sector has fully switched to distant working and employees are staying in touch from the comfort and safety of their homes.
So do SoftConstruct workers. But we are already nostalgic for the traditional industry gatherings, exhibitions and conferences.This is a perfect time for our VR department to shine with their product that has been in development for over a year now.
Since the days of lockdown, i.e starting from spring, we’ve been working intensively on VR /MR Expo software. It is a platform in virtual reality that allows event organizers to hold expos, exhibitors to show off their offerings and present products and visitors from all over the world to attend the event. We’ve integrated many features of a real exhibition into VR – a lobby, help desk, stands, conference rooms and even entertainment corners. Our system provides ready-made templates for floor plans and stands to make it easier for organisers and exhibitors to start off and design their spaces.
We look beyond gaming for this product, so our solution caters to any industry and allows for unlimited opportunities. But most importantly it saves time and costs usually spent on traveling and resources spent on stand construction and other major aspects of exhibitions.
“Our growth in Latin America is quite visible and we anticipate the increase of our operations within other countries such as Brazil and Mexico.”Vigen Badalyan, Founder & CEO at BetConstruct