The BetChill B2B platform is a real game changer as this game provider is about to shake up the market with its vision of enabling game operators to offer different sports betting experiences
Swedish game provider, BetChill AB has announced today its plans on revolutionizing the iGaming industry with its cutting-edge B2B platform, which is aimed at sports betting within the iGaming space.
With online gambling experiencing unprecedented highs due to the various lockdowns that have been imposed on the general population by various governments, regulation has been front line and centre. As iGaming continues to grow, so do the avenues used to access websites which offer gambling gaming services, such as sports betting companies.
Gaming regulation is working hand in hand with iGaming operators in a bid to better manage the expectation of the end-user. As sporting events such as the Premier League and other flagship leagues kick-off their seasons during this post-COVID world, BetChill has watched on and waited for the opportune moment to make its move. This Swedish startup’s strategy is to first gain an EU-regulated gaming license, which it intends to seal from the Malta Gaming Authority (MGA).
“It’s definitely a truly exciting time for iGaming and sports betting in particular”, said Etibar Namazov, founder and CEO of BetChill AB. “The faster this industry grows, the more calls towards intuitive platforms that innovate will be asked for, both from the end-users and the companies promoting sports betting. This, I am pleased to announce, is where BetChill AB comes into its own. We’re offering a product that’s definitely missing in the sports betting industry. Our platform goes a long way in bridging the gap between player satisfaction and the profit made by the gaming operators. We’ve struck a fine balance between the two, without cannibalizing the end-user nor the bottom line of the gaming operator.”
How has BetChill bridged the gap on serving the end-user and keeping the gaming operator happy?
BetChill has created a series of revolutionary ways on how end-users can bet on sporting events. This new range of betting is set to break old habits whilst creating an entirely new gaming and sports betting experience.“We’ve really pushed the boat out with what all the BetChill team have accomplished,” continued Etibar Namazov. “We’re meeting current gaming and betting trends but have added our new blend of in-game play to a series of nine games. These nine games are ready to be developed and a two-step roll-out process and roadmap are in place too.”
Step One – Serving the Biggest Pool
Step 1 of our roll-out will see the development of our first game, which is based on the biggest sports betting market, Soccer. As BetChill is an EU-based company and seeing that Europe is on its doorstep, this Swedish games platform startup is going to roll out the game into the European market via a range of European sports betting operators. Once launched, focus will be targeted towards the African continent. Sports betting is huge in Africa, especially in the southern part of the continent. Next up will be the US and LatAm, followed by the Asian market. BetChill is already in talks with various gaming operators in a bid to build strategic partnerships. Step one is definitely aimed at serving the biggest pool, and BetChill have set their strategy on a pathway which will see them accomplish this.
Step Two – Targeting Other Sports
Phase two will see the evolution of these new nine games to the point where once every aspect of them has been tested and optimized, BetChill will look at expanding its reach by serving other sports, namely Cricket. The Cricket world has a huge following in India, New Zealand, Australia, and the UK. The Management Team knows what it could mean for the startup if they were to be successful in both the Soccer and Cricket fields.
With sports betting making its comeback now that sporting leagues and events are back on again, it’s gaining pace on the online casino world. During the initial lockdowns, sports betting was knocked off the top spot by the online casino industry. That’s soon to change, and expected growth, backed by analytical forecasts, shows that sports betting is here to stay.
How will BetChill Revolutionize the Sports Betting Industry?
It’s best to get this information from the founder and CEO of BetChill AB, Etibar Namazov. “BetChill AB is a bespoke B2B platform. We are also a game provider and our vision is to enable game operators the ability to offer different and exciting sports betting experiences. We’re not interested in just making some mild changes to the sports betting world, but rather feel there’s real momentum towards a full shake-up. BetChill will be taking sports bettors to the very next level of sports betting entertainment by raising the bar and offering the end-user games they’ve always wanted, yet never seen”.
“The key strategy behind BetChill is that we offer a customized gaming platform that integrates quickly and easily on the operator's website. Incorporated within our platform are 9 exciting games. Our gaming system will support a large number of languages and currencies, which continues to serve our global strategy moving forward.”
Another key element of BetChill’s strategy is their seamless approach when it comes to integrating with game operators. “It’s our intent to not create a bottleneck when it comes to working with new game operators. Our integration process allows a seamless transition, which means the game operator has little to no learning curve. This in turn means they can grow faster and hit higher profitability than their competitors.”
BetChill's first generation series consists of nine unique, dynamic, and live sports betting games, designed to fit different players segments.
“What I might find “exciting” might not be for other sports bettors. This is why we weren’t happy to sit back and smile when we created the concept for the first game. We know that there are various sport betting personalities out there, and this is why we created nine games within our series. Each one caters to the likes of a sports bettor,” said Etibar Namazov. “We really do have a well-balanced game portfolio that’s suited to the different sports bettor personalities.“
The Game Process Flow
When the BetChill team brainstorm an idea for a sports betting game, they use their tried and trusted, well-defined process flow. Great attention to detail is laid out, and this includes the user experience, design and other effects that are to be developed by industry experts. Above all, the end-user and the game operator are paramount. The key reason is to increase its competitive advantage.
To keep their competitive advantage, BetChill provides continuous updates to their platform. These updates include new games and features to attract players and constantly renew and enhance the gaming experience. Gathering data from the end-user (once the end-user has provided their consent), the BetChill team analyzes the data and reviews how the end-users are interacting with the software. They will also consider the interaction of the game operator and take onboard comments about usability as well as functionality.
The BetChill team aren’t limiting themselves to just nine games. “Even if we are offering the full portfolio with nine games, we are more than flexible and ready to discuss a model that would fit both parties,” said Etibar Namazov. “We will be in a position where we can create custom system solutions/games depending on the game operators target markets.”
When it comes to new customers and partners, BetChill adjusts the gaming system based on the game operators’ requirements. When an operator accesses BetChill’s platform, an initial integration fee is to be paid, followed by a running royalty, which is a percentage of the game operators revenues generated through BetChill’s intuitive gaming platform.
The games on BetChill’s platform will challenge conventional sports betting games. The first game in the nine-game series is a simple but equally brilliant game that allows players to bet on the game progress based on real-time sports data and brings a full “stock-trading experience” to sports betting. This game will cover six sports, which include soccer, basketball, ice hockey, volleyball, handball, and cricket. These sports cover over 100k events each year, so there’s an abundance of choice for the end-user.
There are three main reasons why many sports bettors do not invest in stocks even though both gambling and stock trading are basically about the same thing, which is to bet/ invest money to earn/win more money.
Sports bettors perceive stock trading as:
Complicated. Sports bettors want to understand what they are betting on.
Slow. It takes too long to get a return on a bet/investment. In some cases, it
can take days, months, or even years. Sports bettors are used to shorter playing times. Soccer, for instance, is normally played within a ninety-minute span. And with live, in-game betting now a phenomenon, the sports betting game-play is way shorter.
Expensive. You normally need to make a minimum investment of $250 when trading Forex or CFDs, and a lot more if you are looking to make a bigger, long- term investment. Sports bettors can place a wager for as little as $1, and in some cases, make good returns on their single dollar investment. For instance, when Leicester City won the Premier League in 2016, the odds of them winning the competition were 5,000 to 1. If you had placed a single dollar on Leicester winning the Premier League, you would have made $5,000.
BetChill’s key strength is the understanding of the overall gaming experience. For BetChill to be able to offer a gaming experience that goes well and truly beyond the ordinary, mathematics is combined with the innovation of in-game flow and technology. As stated above, the BetChill team analyzes the data from every keystroke.
“When it comes to gameplay, if you’re looking at one of the chief reasons a game is successful, then you should be looking at time. By time, I’m referring to how quickly it takes a player to understand the game. From there, the player goes on to form an opinion and eventually places a bet,” said Etibar Namazov.
The chief concept of our games is that players can bet on which teams have the most influential game events during a particular match. The scope of the gameplay can be likened to how shares or currencies rise and fall when trading. If a company releases a positive announcement, in all likelihood, their share price will rise. The same happens within our game, whereby the ratings move in accordance with how different events happen, such as corners, dribbles, tackles, goals, etc. The graph movement is based on real-time sports data that the BetChill team receive from third-party providers such as Sportradar. The beauty is the time it takes for the data to be filtered from Sportradar through to the in-game data. It takes under a second for this data to be filtered and funneled. Therefore the great experience doesn’t come from betting on the results of a said game but rather on the game movement and events which take place during the game. “We’ve come up with the perfect balance as this game makes it virtually impossible for anyone to manipulate or influence the outcome–,“ Etibar explained.
There is a catch, however, as in this game, the more bets placed on a certain team the less points in total for each activity the team generates. This brings an even more dynamic and unpredictable gaming experience.
The player can choose the value of points and at any moment, close the bet. The points on the graph are valued in real money. Just like investors trading shares, they have a profit or loss, and they can choose to close their trade when they feel comfortable. The same applies to the sports bettors; they will have to either cash out during the event or see their bet end automatically when the event has ended, e.g. the end of the match. The bets and odds are matched and balanced against all bets that are made, and this is because the house does not have to own the risk.
When will BetChill Launch?
BetChill will go to established gaming platforms to offer the game for distribution and offer it on a royalty license. The royalty license is based on a percentage of the gaming operator's revenue generated through BetChill's platform. BetChill will be up against a host of big-name brands, which include Bet365, William Hill, Mr. Green Unibet, Betsson, Nordicbet and many more.
Having a good relationship with game operators is crucial for developing the right games for specific markets where players often have different desires. This all depends on the distribution channel and geographical market. As BetChill does not market the games directly to the players, a close partnership with operators is key, especially when it comes to the startup placing its games in highly ranked real estate areas on the gaming operators websites.
By signing and collecting agreements or letters of intent with B2C operators even before the games have been fully developed, BetChill will grow at a much faster rate. The company is looking for a snowball approach, in that it will have agreements in place before having each game developed. This will launch the company’s growth at a much faster rate.
Momentum around BetChill is now gaining pace with the company getting attention across the industry. “We already have a strong commitment to integrating our platform into some of the biggest established leading European vendors, with more discussions opening up each week,” said Etibar Namazov. “We are seeking a first-round investment in return for % equity release in order to broaden the base of strategic investors and take the next step in the development of the game platform.”
As the customer base grows, BetChill can get a greater return on future investment in its gaming and series as well as its platform. The company will be developing games correctly, as well as ensuring the quality and the delivery of a customized system solution to operators that integrates quickly and easily. This will ensure that it is a cost-effective operation, as minimizing the time between installation and deployment is key. BetChill will do this by cooperating with industry experts throughout the process and will take advantage of their expertise in the iGaming industry. This in turn will turn the wheel of their entire strategy, which is to recreate a better sports betting experience.
“Our international presence at events such as SiGMA and the proximity to the gaming operators these events present to us, allow us to quickly know how to adapt our product and our focus to match the needs of operators.”
Following the successful launch of SiGMA Europe (Malta) and SiGMA Asia (Manila), we’re now launching the inaugural SiGMA AMERICAS, covering all three major timezones. The inaugural edition is set for September 22-24, 2020 with a virtual summit focusing on two themes: SiGMA AMERICAS for the Gaming industry and AIBC AMERICAS for the Emerging Tech industry. We wanted to provide fresh content, to help you navigate through these turbulent times. If you’re exploring Americas as a new frontier or wondering which tech solutions to embrace, we've got you covered: tune in on September 22-24, 2020.