SBC News Voice of the Sports Betting Industry
Fanaments is a real money fantasy sports site from Iceland. Created by the trio of CEO Bragi Ægisson, CPO Arnor Davidsson and CTO Gudmundur Sveinsson, Fanaments enjoys the exclusivity of being the only multi-sports fantasy site in Europe.
Launched in August 2015, it has since paid out over €300,000 (£224,348) and enjoyed month to month growth of at least 100%. SBC spoke to CEO Bragi Egisson following the acquisition of a UK betting licence earlier this month.
SBC: Hi Bragi, and congratulations on securing your UK licence. How does the UK market differ to others in Europe?
Bragi: Thank you, we are delighted to have entered the UK gambling space! Firstly, unlike other global territories, betting in the UK is not new, it has in fact been embedded into their culture for years and years.
The regulations scheme is much more transparent in comparison to most other countries. Anyone can apply for a licence which, if successful, allows one to operate and advertise. The UK is a fair playing field where everybody can compete on the same terms.
SBC: With daily fantasy sports games one major issue is ensuring your customers come back each week. What are your retention strategies and incentives?
Bragi: The obvious incentives are our bonuses, leader boards and our competitive prize pools.
Our main focus however has always been the product. We put great emphasis on keeping it fun and simple. The live experience is becoming more and more important as users are operating on their phone or tablet when following live matches on TV.
Having frequent games available is also important, from a customer retention point of view. That is why Fanaments offer multiple sports/leagues and will continue to add new sports and their respective leagues as we grow. 
SBC: The UK fantasy sports market is one that is already more saturated than elsewhere in Europe, how do you intend to stand out and make a name for yourselves?
Bragi: I agree that the UK market has more competition than other European territories, however I strongly believe that it is far from being ‘saturated’.
Our plan is to continue to offer a great product alongside first-class support, user incentives and an emphasis on developing key partnerships.
SBC: With a multi-sports offering a key part of Fanaments how do you feel sports other than football will play out in the UK? Has there been any market analysis in this regard, and have you been surprised by the uptake of sports such as basketball in other countries?
Bragi: We are optimistic about offering multiple sports in the UK. There is justification behind our selection of certain sports and leagues. These categories all have an ‘international’ element to them, which ensure there is a global fan base. An example of this is the recent NBA event which occurred in London at the 02 arena.
It will of course differ country from to country, but I believe all our current offerings will satisfy the UK market.
Most of our settled bets since the launch have not been from football, even though most registrations per unique tournament are football based. Basketball is our best performing sport so far, even though the NBA season didn’t start until late October!
SBC: An increasing number of football clubs have signed fantasy partners in recent times. Is this something that has real value for fantasy brands, and is it something you’re looking into?
Bragi: It is not something we have been focusing on as of now, but we are not actively ruling out that option either. So interested clubs are welcome to drop me a line!
It can of course create value, partly through extensive brand awareness. Each partnership is different and so it is impossible to gauge the success of an investment without knowing the cost and commitment spent by both stakeholders involved.
SBC: What are your aims and hopes for 2016?
Bragi: We will continue our growth throughout Europe and try to establish new partnerships while strengthening existing ones. We expect to add 2-3 new sports and leagues in this year as well.
Fanaments have already begun to embrace the UK and will continue to do so in the coming weeks and months. Our aim is to establish a strong community of players in the UK, similar to what we have achieved in other countries.
Localized sites might also open later this year in certain markets. Fanaments are in talks with several potential partners, as our current platform is ready for a white label and B2B solution.
