“To make it in the US, bookmakers need to be willing to make a long-term investment”
(Exclusive interview).- Lorenzo Caci, Director Business Development and Strategic Partnerships at Sportradar, talked to Focus Gaming News about this year’s G2E Las Vegas.
G2E 2019 will kick off tomorrow in Las Vegas, and as the sports betting segment continues to rise in the US, it is expected that the modality will have its biggest reach ever in this year’s edition. Naturally, leading operator Sportradar will be one of the companies showcasing its offering at G2E Las Vegas.
Lorenzo Caci, Director Business Development and Strategic Partnerships at Sportradar, discussed with Focus Gaming News the importance of G2E Las Vegas for the company, as well as the current situation of sports betting in the US.
The sports betting segment continues to expand in the US, how important is it to attend G2E Las Vegas in this scenario?
G2E Las Vegas will be another well-timed gaming industry event in the US as the legalised market continues to unfold. Obviously, there are a number of opportunities on offer with a new market, and many industry stakeholders want to find ways to learn about how to leverage this, both in the US and outside. For us, the event is a great chance to showcase our 360-degree betting portfolio, which includes everything an operator needs to establish and manage a successful sportsbook.
So, whether you’re a huge conglomerate looking for the best ways to support your current offering, or a new start-up trying to find ways to gain an edge in such a competitive market, we have the expertise and services required.
What do you expect to achieve at the show?
Since the repeal of PASPA we have been continuing to expand our footprint in the US, having worked there for a number of years with our official data partnerships with the major sports leagues. We also have a strong presence in Latin America as countries there continue to make positive steps with legalised betting. With so many stakeholders from such regions descending on Las Vegas, it will be a good chance to showcase our key products for emerging markets. Like our Managed Trading Services (MTS), for example, which is our most flexible all-in-one solution allowing operators to utilise our expert risk management and trading services together with our live odds, Betting Stimulation and Live Streaming at whatever level suits their needs. Our marketing solution ad:s is the perfect tool in new markets, allowing operators to identify and target audiences to ensure they suit preferences and increase engagement.
You have already signed partnerships with some of the major sports organisations in the country, do you think attending G2E can help you land (or get the company closer) new deals?
Our focus is more about partnering with sports and forging relationships with bookmakers and associated businesses so they can reap the benefits of our comprehensive data and betting services. We have been operating across the global industry for almost two decades now and, as the world leader, we want to use our knowledge and solutions to continue to help markets across the world emerge in a way that is fair and opportune for all. We attend a number of industry events like G2E Las Vegas and meet with clients across the world regularly to achieve this.
Our marketing solution ad:s is the perfect tool in new markets, allowing operators to identify and target audiences to ensure they suit preferences and increase engagement.
What’s your assessment on the sports betting industry in the US, one year after the Supreme Court revoked PASPA?
The market is quite fragmented with states rolling out legislation and varying regulations at different paces. Some were quite quick with these processes, while others have taken a lot longer. Legalised states also differ in terms of whether they have allowed for online and mobile betting or just retail-based betting. At the moment, the conglomerates formed by the merging of big industry players, together with the big casinos, dominate the market. And with such a detailed licensing process it’s easy to see why.
As the world leader, we want to use our knowledge and solutions to continue to help markets across the world emerge in a way that is fair and opportune for all.
However, there has been some exceptional growth, especially in relation to online and mobile betting, which has proven to be extremely popular amongst punters. While the opportunities may not be there for all to see yet, there are, and will continue to be, prospects for operators of all sizes. The US and Latin America are both areas where passion for sports is plentiful. Retail opportunities abound and, with technology, advances in online and mobile betting is likely to continue to increase in the future.
Bookmakers that want to make it in the US market need to do their research and be willing to make a long-term investment.
What is the top challenge for Sportradar ahead of the expanded legalisation of the segment in the US, with many states taking their time to regulate while others have already launched?
We need to ensure stakeholders across the industry are equipped with the knowledge and tools to navigate an emerging and rapidly changing market. For bookmakers this is about realising that if they want to make it in the US market they need to do their research and be willing to make a long-term investment. This means understanding the legislation and regulations in the markets where they want to operate. It’s also about taking the trends and technology and what works for sportsbooks on a global scale, or in more established markets, and being able to apply this at the local level. This is about understanding end-users and their preferences when it comes sports, technology and how they like to place a bet, for example.
