Interviews
Q&A: Sportingwin and the Bulgaria opportunity
Mark Chakravarti, Head of Investment at Sportingwin, talks about why the operator sees such potential in the market and how it has found the licensing process to date
Bulgaria has had a major shake-up when it comes to how gambling operators are licensed and regulated in the country with the National Revenue Agency recently taking on the responsibility.
Amid allegations of corruption among its predecessor, the State Gambling Commission, the new regulator is moving forwards with plans to issue additional licences over the coming months.
The first in line to receive such a licence is Sportingwin, which has ambitious plans for Bulgaria once it has been given the green light to launch.
To learn more about Bulgaria and the operator’s plans for the market, we sat down with Mark Chakravarti, Head of Investment at Sportingwin.
Why do you see so much potential in Bulgaria?
You just have to look at the numbers to see the potential. We estimate the Bulgaria market to be worth around £300m right now but as new operators enter the fray it could grow at a rate of 20% per year to hit £500m over the course of the next five years.
Coupled with this is the low level of competition. Only five betting licences have been issued to date and mostly to local retail bookmakers with a limited online offering. These sites simply don’t offer the depth of markets, odds and products available in other European jurisdictions.
This presents a tremendous opportunity for experienced online sportsbooks to make their mark, so long as they enter Bulgaria with a localised product that delivers a superior player experience. Those that do are very much in the driving seat to capitalise on the tremendous potential on the table.
What do Bulgarian players look for in an online sportsbook?
There is a long tradition of retail and online sports betting in Bulgaria, so players are seeking a comprehensive, quality, cutting-edge product and experience similar to that offered and found in mature markets such as the UK.
In particular, they are seeking a high volume of events, a range of bet types as well as modern features such cash out. We also believe that exchange betting, while not currently available, will be hugely popular once we secure our licence and launch the Sportingwin exchange in the market.
How will you meet those needs and localise your offering?
There are two key ways we are doing this – product and our approach to CRM. When it comes to product, we are developing a proprietary platform that is fully customisable for each market we enter, including Bulgaria. This includes localised payment options, currencies, sports, etc.
In terms of CRM, we are investing in a local customer support centre so that we can comfortably meet the staff-intensive local language CRM and marketing operations and activities we believe will enable us to communicate to and engage with Bulgarian players.
How have you found the licencing process to date?
The Bulgarian regulator has incredibly high standards and expectations when it comes to due diligence. As such, the licensing process has been a little slower than in other jurisdictions, but we are okay with this as we want to make sure we not only meet but exceed their standards.
This means taking additional steps such as appointing a dedicated Bulgarian CEO. He has a proven background in gaming and the regulator can quickly carry out the necessary checks that it needs to in order to ascertain his credibility and suitability for the role.
Owning our own technology has also allowed us to synchronise our platform with the NRA already, which in turn means we are among those on the regulator’s list of approved technologies ready for when our licence is granted.
In addition, we are a Maltese company so have requested that the Maltese consulate in Bulgaria monitor the licensing process from start to finish as our application is the first to be considered since the Nation Revenue Agency took over regulatory responsibility earlier in the year.
By having the right people on a local level, and by taking considered steps towards ensuring we meet the standards set by regulator, we expect to receive our licence in the first quarter of next year.
What has been the toughest challenge to overcome?
The toughest challenge is in respect to the due diligence and in particular the requirement of having an €800,000 investment from a local, proven source of funds. To do this, we have had to find a local banking partner which was easier said than done.
That being said, the team pulled together and we were able to find a local banking partner happy to facilitate the investment allowing us to progress through the licensing process.
What are your long-term plans for the Bulgarian market?
We want to claim 9% of the local market within the first three years. We then plan to build on this rapidly by securing further venture capital that will enable us to consolidate the market through mergers and acquisitions with local operators.
Once we have achieved the scale we are seeking, we can then effectively pursue market leader bet365. It is a tough task, but one that we are more than capable of completing thanks to the incredible team we have built out in recent years.
We also believe our cutting-edge proprietary technology and platform gives us a huge edge over the incumbent operators and brands and will allow us to compete with and defeat any other overseas operators that enter the market.
What is your long-term plan for Sportingwin?
We are currently undertaking a fundraising campaign to help accelerate our global expansion efforts, selling off more than €1m in equity.
These investments are in line with our long-term strategy for the brand which is to achieve a valuation of €50m in three years and, once achieved, would deliver a x13 increase on the current investment opportunity.
Dr. Eyal Loz Chief Product Officer at RubyPlay
Built for the branded reality – RubyPlay’s high velocity approach to the US market
With localisation, speed to market, and cross-state scalability at the heart of its strategy, RubyPlay is proving that relevance—and results—come from understanding both the player and the moment. Dr. Eyal Loz, Chief Product Officer at RubyPlay, discusses the company’s fast growing US presence and how its agile, insight-driven approach is resonating with players and operators alike. From crafting bespoke branded content to rolling out favoured mechanics with modern twists, RubyPlay is positioning itself as a key partner in the evolving iGaming landscape.
Just a few months into RubyPlay’s US journey, how has player response shaped your perception of the market? And how will these insights shape your roadmap going forward?
We see very strong player preferences to games that combine a Hold and Spin mechanic with perceived persistence. We also see that American players respond well to classic themes with a clear modern flavour. None of this was very surprising, as we are very well tuned with the preferences of players in America. The RubyPlay offering was always optimised for American players, and it’s nice to see that our roll out is working so well, as we expected it to.
We also explored a handful of innovative mechanics that are less prevalent in traditional land-based casinos, and we are happy to see that these were also well received.
Titles like Mad Hit® Diamonds and Diamond Explosions 7s® SE are a few of your early standouts. What do you think is making these games click with the US audience compared to other markets?
These two titles are solid performers in all markets, so we had high expectations to see these perform very well with American players. Both these mechanics have all the elements that make for a strong US title – Hold and Spin, perceived persistency, Buy Feature and a solid art package with a classic yet modern feel.
The US iGaming market is unique, not just in regulation, but in how players engage with content. How does your strategy for the US differ from other global regions and how do you maintain global competitiveness while staying locally relevant?
It’s important to remember that top performing mechanics tend to transcend time and space. Hold and Spin mechanics have performed well in almost all markets since they were introduced over 10 years ago. What makes a specific game more relevant to one specific region is the theme and flow of the game. For example, games featuring mahjong tiles will perform well in South East Asia but will not perform to the same level of success in the US. Similarly, games with strong Egyptian themes will not perform in Asia but have a good potential in the US.
RubyPlay’s superpower is in our velocity and adaptability. We are able to identify opportunities with operators to support their brand identity and create specialised bespoke content for them, taking into consideration elements such as the relevance of that theme to the market, and the brand of the operator. We live in a branded reality, and we consider our client’s brand a top priority.
You’ve spoken about empowering brands through strong partnerships. How do you approach collaboration in the US market to ensure both RubyPlay and its partners succeed?
Brands are a lifestyle in the USA. We have to understand this first in order to reach the audience in the way that our US partners take as second nature. By focusing on building high velocity, we are able to create relevant bespoke content for our partners that is unique to their needs.
Velocity is really important because branding opportunities don’t last very long. When a client negotiates a collaboration between their brand and a 3rd party, the deal will always close very late and will not last very long. Our ability to be in tune with the reality of such short deliveries on tight schedules, measured in weeks, not years, has given us a disproportionate advantage.
We have a stronger awareness of special events, whether sports, holidays, or cultural, and our responsiveness allow us to always stay relevant through our portfolio or bespoke content with the timings of such events in mind.
What role does localisation play in your expansion strategy?
Localisation is absolutely crucial. As I mentioned before, the combination of a robust and large variety of game mechanics, combined with the ability to minimise time to market thematically, we are able to always stay relevant to new markets we started operating in. When entering a new market, it’s hard to predict what is going to work, so building velocity, and keeping an open mind is key.
With more states opening up, how is RubyPlay preparing to scale its presence across the country? Any new or upcoming experiences or innovations players and partners can expect this year?
We are well on our way to enter Pennsylvania and West Virginia as we are well aware that US. operators are heavily focused on a cross-state strategy regarding promotions. If we can support this by having the top states, we ensure a stronger and more effective experience for players with branding in mind. After all, markets are one of the most important product features.
Other than that, we are planning to roll out our Awarded Feature with many of our direct clients. This will allow operators to award the Buy Feature for free via a back-office campaign. We saw this can be very effective in branding, retention and acquisition, and allow operators to either award players with the best part of the gaming experience, or up-sell promotions via their CRMs.
I’m very excited to see the impact the Awarded Feature will have with our partners on all areas of their business.
The post Built for the branded reality – RubyPlay’s high velocity approach to the US market appeared first on Gaming and Gambling Industry in the Americas.
Revolutionising Cricket Premier League: Max Sevostianov – COO at Betbazar, shares insights on how AI-Cricket and hyper-local data products are helping Operators engage, convert, and retain players year-round
With the start of the Premier League cricket season in India, what key trends are you seeing in the iGaming industry around this sport?
We’re witnessing explosive demand for faster, more immersive cricket content. Ball-by-ball gaming is really taking off, driven by players who crave real-time action and micro-engagements. This has pushed Operators to double down on mobile-first experiences — speed, accessibility, and UX are everything in this space.
Another standout trend is hyper-localisation. It’s no longer enough to offer cricket content in English — platforms are integrating regional languages, tailoring promotions based on local fandoms, and weaving in fantasy-style formats that resonate deeply with Indian audiences.
Perhaps the biggest shift we’re seeing is strategic: cricket is evolving from a seasonal event to a sustainable, year-round revenue channel. Operators aren’t just riding the IPL wave — they’re building ecosystems around domestic leagues, international fixtures, and even niche formats, ensuring engagement doesn’t drop off after the final.
Do you think the league will trigger a revenue surge for South Asian Operators? What should they focus on to make the most of this opportunity?
Absolutely — the Premier League is essentially Black Friday for cricket in India and the wider South Asian market. It’s the peak of the calendar, where user engagement and volumes skyrocket. But high traffic alone doesn’t guarantee high returns.
To truly capitalize on this opportunity, Operators need robust infrastructure. That means rock-solid uptime, especially during critical moments like the toss or final overs when activity spikes. Fast bet settlements, wide market coverage — from traditional formats to more niche or prop bets — and content that keeps users hooked, like virtuals or eCricket, are all must-haves.
This season, the winners won’t just be those with the most users — they’ll be the ones who can scale seamlessly, automate efficiently, and deliver content that’s as thrilling as the match itself.
What cricket-related products are currently making the biggest impact in the iGaming market?
Three products are really making waves right now.
First, Virtual (AI) and eCricket formats are proving to be game-changers. These always-on experiences keep players engaged even between live matches, maintaining momentum throughout the season and beyond.
Second, high-frequency data feeds are unlocking a new level of interactivity. Instant markets, player props, and ball-by-ball gaming are now the norm, providing users with a dynamic and deeply immersive experience, especially appealing to mobile users who seek fast, responsive gameplay.
Finally, localised and gamified content is crucial. We’re seeing strong traction with fantasy-style elements and UI’s designed specifically for cricket fans. When combined with regional language support and tailored promotions, this kind of personalisation boosts both engagement and long-term retention.
These innovations are driving serious volume — and, more importantly, keeping players coming back.
Betbazar recently launched a new product – AI Cricket. Can you walk us through its key features and what makes it so promising?
AI-Cricket is the latest innovation on Betbazar’s marketplace, and it’s setting a new benchmark for virtual sports. At its core, it delivers 24/7 AI-powered cricket matches with realistic gameplay that mirrors live action — from batting styles to fielding dynamics — all generated by advanced algorithms.
What truly sets AI Cricket apart is its end-to-end automation. Everything from match creation to odds generation is fully automated, allowing Operators to run with minimal overhead and maintain a consistent 8% margin, without the need for manual trading.
On the user side, it’s all about engagement. The product supports fantasy-inspired modes and even customisable avatars, offering a highly immersive experience that feels fresh every time. And because it’s always available, it gives Operators a powerful tool to drive retention, even during downtime in the real-world sports calendar.
So AI-Cricket blends innovation with profitability, making it a standout product for today’s cricket-focused iGaming market.
Сricket coverage in Betbazar’s Live Data Feed is described as unique. How broad is the coverage, and what specific advantages does it offer to operators?
Betbazar’s Live Data Feed offers one of the most comprehensive and operator-friendly cricket solutions in the market today. We’re talking about 15,000+ pre-match and over 9,000 live Cricket & Kabaddi Events, and an additional 10,000+ AI Cricket events each year — a scale that ensures operators can engage users year-round.
But what really sets it apart is the quality behind the quantity. Settlement times for top events are incredibly fast, typically within five minutes after the match, giving players confidence and keeping the gaming process flow smooth.
From a technical perspective, we’ve built it for performance, featuring low-latency updates, a high SLA for reliability, and customisable margins that allow Operators to fine-tune their offerings to suit different markets and risk profiles.
In short, it’s a powerful, high-performance data solution designed to meet the fast-paced demands of modern cricket, enabling operators to stay ahead of the game.
About Betbazar
Betbazar is a B2B worldwide iGaming marketplace which has set a new sales standard, sourcing specialist iGaming products and advising on their role within existing strategies to deliver growth to our partners. The company’s ambition is to build a digital iGaming marketplace that connects creators with operators, accelerating growth through best-in-class products.
The post Betbazar Explores Cricket in iGaming: What Operators Need to Know appeared first on Gaming and Gambling Industry in the Americas.
Conferences in Europe
Speaking the Player’s Language: Promatic Group’s Take on Game Localization in CEE
The Prague Gaming & TECH Summit 2025 brought together some of the brightest minds in the iGaming and tech industries – and the conversation didn’t stop when the curtains closed. As this year’s General Sponsor through its Promatic Games brand, Promatic Group made a powerful impact on-stage and behind the scenes. In a dynamic keynote presentation titled “Localizing Slot Games: Does the Central European Player Need Localized Content?”, Maciej Makuszewski, iGaming Director, and Luka Oblak, Head of Product Design, explored how cultural nuances shape player engagement and game performance across regional markets.
Now, post-event, we caught up with Maciej Makuszewski to delve deeper into the topic of localization, player behavior, and what makes content truly resonate in Central and Eastern Europe.
Maciej, your keynote at the Summit offered compelling insights into how culture and language affect game engagement. What do you believe is the biggest misconception about localization in the iGaming industry today?
It is that it is enough to hire a translator of a game to deliver localized content. This is not the end of the road – on the contrary – this is just the beginning. This may sound like saying the sun rises in the east, but I still would say there can be a lot more attention paid to giving games a local touch.
But coming back to translations, nowadays, even at this basic level, we can observe so many pitfalls and mistakes that could have been avoided if people really had the player at the core of their strategy. I guess we are past this time in history of globalization that unified products and content simply entered new markets with no tailoring whatsoever and there was demand for them, because there hadn’t been much of a choice of anything else. We’d like to see companies try harder when they enter new markets. I hope we will become one that actually gets the hyperlocalization just right.
You and Luka presented some standout cases on localized content. Could you share one example that truly surprised your team – either by outperforming expectations or revealing a cultural insight you hadn’t anticipated?
I guess that would be the transformation of a simple fruit game launched as Red Hot Jackpot in Poland, into a rich animations theme game it became in Nigeria. The nigerian version of Red Hot Jackpot is called Naija Wheels and it is the exact the same math model and game logic as Red Hot Jackpot, but what makes it appealing to the local customers of slot halls in Nigeria is its hyperlocal theme. Naija Wheels is a funny story of things you see in Lagos traffic. So instead of a Cherry symbol you have a symbol of a police officer. Instead of a plum symbol, you have an okada driver from Lagos etc.
Very different game themes, same logics, same business effects – the game is a great performing slot in Poland and a superb hit in Nigeria.
In your view, what are the non-negotiables when designing localized slot content for Central and Eastern European markets? Are there elements developers often overlook?
There are so many local markets in the CEE that it is really hard to unify this. But in a nutshell – we know in our region, highly volatile fruit themed games are very popular. Having said that, it is not a surfire way to success. You may want to localize the content even further through cultural and humor references.
The ROI of local-branded slots is often debated. Based on Promatic Group’s experience, when does it make strategic and commercial sense to invest in hyper-local content – and when is it better to focus on broader appeal?
It all depends why you do this and how you measure the ROI. If you measure a single game ROI this might be a trap. It will very much depend on the math model and features of the particular game. Apart from revenue stream, there are also costs to be considered. If we’re talking about a “game reskin” then certification will be something you can optimize and so on. There are numerous ways to tackle this issue. Sometimes you can come up with a hyper local game and just launch it somewhere else to test if it works, which will boost your revenue stream and the total ROI. All in all we are very happy with our local approach and we intend to stick to it.
Let’s talk about the future. With shifting player expectations and tech advancements like AI personalization, how do you see the localization strategy evolving over the next 2–3 years at Promatic Group?
I would expect this hyperlocalization becomes a commodity in the industry. This will also require a lot of human factor so that it is done the right way. AI will speed things up, but I believe that the human touch will be key. We already have amazing tools, but using them the right way is what will make a great difference.
The post Speaking the Player’s Language: Promatic Group’s Take on Game Localization in CEE appeared first on European Gaming Industry News.
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