“Challenges open up new opportunities”
BetConstruct’s CEO Vigen Badalyan grants an interview to Focus Gaming News and talked about his career and the company’s future.
Exclusive interview.- After a most special year and a half, BetConstruct’s CEO Vigen Badalyan sits down with Focus Gaming News to discuss where the company stands and where it’s going in the near future. The official discusses his career, challenges for the company and potential of growth in different markets like the US and Latin America.
How would you describe the trajectory of VBet and BetConstruct? Looking back, are you surprised at how the company has grown from its origins in Armenia at a time when there were few gambling specialists in the country?
For us the only way is up. For both BetConstruct and VBet. Our growth didn’t come as a surprise since it was conscientious and gradual. We worked, we learned, we educated ourselves and taught the new recruits what we knew. Over time we became those few gambling specialists in the country that we needed at the early stages of our operation.
How did you learn and gain experience to get to where BetConstruct stands today?
Before the establishment of BetConstruct as a software developer and supplier, the core staff of the company worked as Vivaro Ltd., an igaming operator, with in-house developed software. Online casinos and sportsbooks were just emerging, all we could do is take after the best industry practices and apply them onto our reality and market. All knowledge and experience was first-hand, sometimes through trial and error. Once learnt what works and what doesn’t we approached this business with bigger confidence and honed intuition that allowed us to widen the spectrum of operation and offer our software to other igaming businesses.
Our growth didn’t come as a surprise since it was conscientious and gradual.
BetConstruct’s CEO Vigen Badalyan.
VBet and BetConstruct grew and adapted at a time of a great time for the gaming industry. How do you see the gaming world at the current juncture? Is it a time of challenges or opportunities?
It is a time of challenges. We are involved in the industry that marries real life experience with technology bringing it closer to the end-users. Technology grows and so do we, being constantly challenged to outdo ourselves. The player is well-versed, the market becomes oversaturated with choice. New ideas are in high demand and need to be implemented to challenge our understanding of what’s possible. Challenges open up new opportunities and push us. It is energizing.
How do you expect BetConstruct to grow in the future? With so many different streams, is there any you’re looking to prioritise?
Sports betting and Gaming are two main pillars of BetConstruct. With summer full of sporting events – Olympics, EURO2020, Copa America – we emphasise our Sportsbook now, with multiple new functionalities added to contribute to operators’ profits and players’ experience.
With a strong presence in Europe, are you concerned by the ever-evolving regulatory pressures and increased restrictions?
Though the gravity and pressure of the restrictions are sensible, they are very much needed. The markets which are smart and keen enough to become regulated can prevent actions of fraudulent operators and lift the image of online gambling in the eyes of society in general. Afterall, it is the safety of a player that comes foremost.
Sports betting and Gaming are two main pillars of BetConstruct.
BetConstruct’s CEO Vigen Badalyan.
How do you face the challenge to grow in the B2C sphere in Europe’s quite saturated markets?
Europe is 40+ countries with different player preferences and legal situations. What is considered growth in one place may be a downfall for a brand in the neighbouring country. A close inspection, both from regulatory standpoint and culture, is what’s needed to understand and feel the player and achieve success in a particular country. For that reason exactly half of 16 BetConstruct regional offices are situated in Europe. We get to have a look from inside to really see what an end-user loves and preferes.
How has BetConstruct found its experience of the US market so far?
The US Market is the next big thing. It is a peculiar market and being active there means catering to 50 countries taking into account both the legal requirements and player preferences. As for now, we have good grounds to strengthen our presence in the US. Over the next couple of years, BetConstruct is going to continue its push into the US market, with upcoming partnerships that are in progress now. Every experience here holds a significant value, and with every new entry we learn which products and services to provide, we localize our existing products and of course, try to bring innovative solutions.
Our growth in Latin America is quite visible and we anticipate the increase of our operations within other countries such as Brazil and Mexico.
BetConstruct’s CEO Vigen Badalyan.
How do you see the development of the market in Latin America? How do you find working with partners in the region?
Our growth in Latin America is quite visible and we anticipate the increase of our operations within other countries such as Brazil and Mexico. Our offices are a living proof of the scale that we aim for. 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.
