Challenges Paving Way For New Opportunities. CEO of BetConstruct, Vigen Badalyan spoke about the future of his company as well as his career.( Image Source: Betconstruct.com)
CEO of BetConstruct, Vigen Badalyan spoke about the future of his company as well as his career in an exclusive interview with Focus Gaming News. Badalyan granted this interview after a unique one and half year to discuss the company’s stand and the future prospect. The CEO also discussed his career, the company’s challenges, and the potential growth of different markets like Latin America and the US.
Below is a recap of his Vigen Badalyan interview with Focus Gaming news as he was quizzed and the replies he gave.
How would you explain BetConstruct and VBet’s trajectory? Looking back, what do you think about the company’s growth from its Armenia origin when there were just a few gambling specialists at that time?
The only way for both VBet and BetConstruct is up, so our growth was not surprising since it was gradual and conscientious. We learned, worked, educated ourselves, and passed our knowledge to our new recruits. Over time, we became the few gambling specialists in Armenia that we needed earlier when we began operations.
How did you gain and learn experience to take BetConstruct to where it is today?
Before we established BetConstruct as a supplier and software developer, the company’s core staff previously worked with an igaming operator (Vivaro Ltd) with in-house developed software. Sportsbook and online casinos were just emerging at that time, so all we could at BetConstruct was to take after the best practices in the industry and apply them to our market and reality. All experience and knowledge were first-hand, although they were sometimes via trial and error. Once we learned what works and what does not, we approached the business with a honed intuition and bigger confidence that enables us to expand our operation spectrum while also offering other igaming businesses our software.
BetConstruct and VBet adapted and grew at a great time in the gaming industry. What is your view of the current gaming world? Is it a time of opportunities or challenges?
I would say it is a challenging time for the gaming world because the industry married technology with real-life experience and brings it closer to players. We grow just as technology does, such that we are constantly being challenged to outdo ourselves. The market becomes overwhelmed with choice, the player is well-versed, there is a high demand for new ideas, and there is a need to implement them to challenge how we understand what is possible. So, we find it energizing when these challenges push us and open up new opportunities.
What is your expectation concerning BetConstruct’s growth in the future? Is there any stream you are looking to prioritize from the available pool?
Gaming and sports betting are 2 key pillars of BetConstruct. We now emphasize our sportsbook with several sporting events in summer – Copa America, EURO 2020, Olympics. Also, we added several new functionalities to our sportsbooks in contribution to player’s experience and operator’s profits.
With BetConstruct’s strong presence in Europe, do you feel concerned by the increased restrictions and evolving regulatory pressures?
Though the pressure and gravity of the restrictions make sense, they are much required. A market that is keen and smart enough to get regulates can inhibit operator’s fraudulent actions and give online gambling a good image in society’s eyes. The safety of the player is most important after all.
How do you tackle the growth challenges in the business-to-customer sector in saturated markets across Europe?
Europe consists of over 40 countries with different legal situations and player preferences, such that the definition of growth in a place may be considered another brand’s downfall in the neighboring country. To feel and understand the player and gun for success in a particular country, there must be a close inspection from both the culture and regulatory standpoint. This explains why BetConstruct has 8 (exactly half of its overall 16) regional offices in Europe because we need to take a look from the inside to see what an end-user prefers and loves the most.
How has been BetConstruct experience in the US market so far?
It is general knowledge that the US gambling market is a big deal for the gaming industry as it is a unique market. Any provider that manages to enter the US market will automatically have up to 50 countries in its care, taking both player preference and legal requirements into account. For now, BetConstruct has good grounds to boost its US presence and will keep on pushing into the US market over the next coming years with partnerships that are now in progress coming up later. Every experience has a significant value and every new entry allows us to learn which services and products to provide. We try to bring inventive solutions as we localize our existing products.
What is your view on the development of the Latin American market? How do you cope with working with partners from the region?
Our Latin America growth is quite obvious even as we expect our operations to increase within other countries like Mexico and Brazil. Our offices are proof of our aim. We cannot just be sitting back and waiting for authorities’ approval while gambling laws are creating per region. The best thing to do is to study the regions and investigate both player behaviors and gaming cultures.
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