Conall McSorley, Business Development Director at gbet, talks to SBC News about rebranding from GBE Technologies, the challenge to allay migration concerns amongst sportsbook operators and how gbet aims to build on its successful partnership with NYRA in the US market.
SBC: Can you give the readers on SBC News a brief rundown of the gbet business?
CM: Most of your readers will not have heard of gbet, which is no surprise, given we have recently rebranded from GBE Technologies, the business that founded and managed the Betdaq betting exchange in 1999 until its sale to Ladbrokes in 2013 and remains the technology supplier to that business.
gbet retains all of its proprietary technology after that transaction, but was under a period of exclusivity to Ladbrokes for four years which ended at the back end of last year.
So, we are in effect, re-entering the B2B market as an omni-channel supplier with a proven platform, which is sports first, mobile first and a suite of products including sportsbook, betting exchange and ADW/Tote. A platform that has proven performance and scalability and which processes over 20,000 bets a second.
SBC: How does both the proprietary technology and unique experience built up over the years put you in position to reassert your authority in the sports betting industry?
CM: There are many who might suggest that the B2B supplier space is really cluttered, but the reality is that there are relatively few suppliers with robust technology and the strategic vision to match operators’ requirements.
We have undertaken significant market research and we believe there is a cohort of sportsbook operators who may have outgrown their existing suppliers and are looking for better solutions. gbet is in a unique position of having been an Operator of a sports betting business for 13 years and that gives us a unique insight to the needs of Operators.
The gbet mission is to empower Operators, to provide them with a more bespoke, customised service to allow them to tailor the product to their customers. We aim to exceed their expectations and ensure they do not have to compromise on fundamental elements of their business.
SBC: On a European level, you have promised to provide operators with more independence; which specific pain points can you alleviate for potential clients?
CM: Operators tell us that the main points are:
- Freedom to design and execute their front end and UI/UX.
- The ability to take several odds suppliers and choose the best supplier by sport or take one supplier pre-event and another in play, for example.
- The freedom to either self-trade or manage risk by outsourcing to a proven supplier.
- The ability to integrate 3rd party product or content, quickly and efficiently.
- Bespoke software development
- Real time reporting capabilities
Technology from gbet addresses all of these concerns and gives the operator the platform and the product to market a competitive, compelling offering to their customers.
SBC: Operators will often stick with what they have on the supplier side over migration concerns; what can you say to dispel these doubts?
CM: Migration is a challenge but it is one with which we believe is addressed by our technology and our management processes. While there are real risks, the greater risk to a business is to stay with a non-performing technology and most operators will see this clearly. Our job is to provide operators with the assurance that we can manage the migration risk and deliver the potential that gbet technology can bring to their business.
SBC: PASPA repeal has led to a jostling for position in the US; how can you use a history of ADW delivery to the New York Racing Association to your advantage?
CM: While the repeal has set in train the almost daily announcements of acquisitions and partnerships, it is very early days in the development of the US sports betting market. gbet has been working in the US with the New York Racing Association for over four years now powering NYRA’s ADW product…www.nyrabets.com.
This is a hugely successful partnership and our exposure to the U.S. market has been extremely beneficial. We have a track record of delivery to a major force in the U.S. betting industry with almost $2.5bn in annual turnover, and that is an extremely influential testimonial to have in our locker.
We are active in the US market and we are very excited about the potential to build on our position there but we are cautious about the viability of some markets in a state-by-state regulatory environment.