SBC Summit Barcelona 2022 was remarkable. Four hundred experts shared their thoughts on next-generation sportsbook products, new iGaming technologies, payment and compliance trends, marketing strategies, blockchain, and metaverse opportunities of tomorrow.
Parimatch Tech speakers took part in several discussion panels on critical issues in sports betting, online casinos, people management, payments & compliance, safer gambling and emerging tech.
We highlighted some insights from Parimatch Tech experts.
Anna Motruk, Deputy CEO—Ukraine, CIS & Eastern Europe—defying the headwinds
Anna pointed out that despite the war in Ukraine with the subsequent decrease in GDP by 30% and inflation of more than 60%, the entertainment industry is stable and continues to grow. The Ukrainian government supports this way—it facilitates checking and taxation because the state is interested in developing the sector.
Each crisis is also a time for opportunity. People are very active, everything is developing, and everybody continues to do business.
Anna also noted that operating with an official licence and a regulated market positively affects the state income, industry, and end customers. The legal market contributes to the industry's safe development, including regulating advertising activities.
Talking about the Ukrainian market, Anna shared that Parimatch Ukraine, the official Parimatch representative in Ukraine, are making numerous efforts to change the attitude of players towards gambling and provide responsible gambling trends. Among issues to be resolved in the Ukrainian market, Anna noted the improvement of the tax code.
In Eastern Europe, Anna figured out the development of the Romanian market. There are already about 30 online operators in the country, and two or three more are expected this year. According to preliminary forecasts, GGR this year will already be 1 billion euros, given that the legal market in Romania was launched only in 2016. The regulator has 250 slot operators that manage about 17,000 machines, and the state lottery has nearly 7,000 slot machines. There are also three live casinos, 25 bookmakers, and five bingo operators in the country. According to Anna, this is a promising growing market with solid regulation policies.
Tetiana Davydova, Chief Talent Officer—A culture that scales: harnessing diversity to deliver growth
In the "A culture that scales" discussion, Tatiana's pointed was that diversity is about treating others like you want to be treated. HR specialists constantly try to find the balance between business interests and employees' interests, despite that they should keep in mind that they are employees too. As an HR, you must consider how you would like to be treated in a given situation. Because as an employee, you surely would like some fairness, attention, care, and understanding that your opinion matters.
With the beginning of the war in Ukraine, Parimatch Tech was especially convinced of the diversity importance for business scaling. It wasn't just about the geographical expansion of the Parimatch brand—relocation, and adaptation to work in another country, have become a necessity and a matter of business survival. After all, the main R&D centre of the company and about two thousand specialists are located in Ukraine. The experience of opening a hub in Prague showed that a company's corporate culture must be flexible and ready to adapt to new challenges.
Ievgeniia Derbal, Chief Legal Officer—Regulators' View: Liberalisation Era is over
According to Ievgeniia, the liberalisation era is probably over in Europe and the United Kingdom, but there are more countries to look at. For example, the Parimatch brand is present in Eastern Europe, Middle Asia, and Africa, where regulation is more balanced.
Ievgeniia pointed out that the government's strict regulation of the industry in terms of KYC, advertising, and limits on the deposits and stakes will lead to the moving of players to offshore websites. As for the industry players, they will search for easier and more accessible solutions. As a result, the government will lose taxes and other contributions to the state budgets.
For example, in Ukraine, the Gambling Commission is building a cooperative relationship with the industry looking for dialogue and learning from the industry. Such an approach is considered wiser than the complete gambling ban from 2009.
In terms of new markets, were noted Canada and USA. The industry development, attraction of businesses and new market players are impressive. The USA will lead the regional ranking in growth potential at least next year.
