Under the direction of 2024’s iGaming CEO of the Year, Evgen Belousov, B2B software powerhouse GR8 Tech has rapidly emerged as a bona-fidé leader of the iGaming industry.
Specialising in delivering a comprehensive, high-performance sportsbook and casino platform for operators in regulated markets, GR8 Tech, is now just over a year old. But already it’s winning markets and top awards, among them the recent SiGMA Eurasia’s Best Online Sportsbook Provider honour for 2024.
Today, iGF’s Head of Content, Curtis Roach, and Evgen explore the future of iGaming innovation, discuss that perennial “chicken-or-egg” conundrum, who comes first: The operator or the shareholder? And wager which region, Latin America or Southeast Asia, will break harder and faster?
It’s a compelling mix of GR8 minds going tête-a-tête.
With so many industry events on the iGaming calendar, why was it important for GR8 Tech to prioritise attendance at this year’s IGB L!VE?
“2024 is our first full calendar year. Although we launched in 2023, we could not attend all the events. This year served as a test for us, allowing us to attend all events and conferences and determine which ones we should prioritise for 2025 and how we will do so (having stalls, meeting rooms, or simply attending).
“IGB is one of the most crucial events for us as a company, and [now] we are committed to having a booth at IGB L!VE 2025. We see iGB L!VE as one of the main global events in the iGaming industry. It attracts a large audience, which also happens to be our target audience. Many operators and many of our partners attended, so it was a fantastic opportunity for networking and building on existing relationships.”
In a recent social media post, you mentioned the unfortunate lack of innovation in the iGaming industry. Will this change as the industry matures? And how is GR8 Tech driving innovation?
“[Clearly] there will be more innovation. But I don’t think it will be because of maturation. It’s more likely to be driven by closer cooperation with other sectors in the entertainment industry, and the higher penetration of online gambling into the overall entertainment industry.
“As gambling becomes more socially acceptable, especially online, big companies from other sectors will investigate and participate in iGaming.
“We can already see this happening: Netflix and Disney have launched games on their platforms, and ESPN has entered sports betting in the USA.
“In my view, there will be some kind of evolution, not a revolution; but evolution caused by greater convergence. I also think social trends will have a big impact. Who knows, we could even see Tinder-based betting as gambling migrates into the social sector and captures more casual players. On top of this, iGaming legalisation in the USA stimulates all types of trends.”
Your high-performance sportsbook has won multiple industry awards. When developing your solutions, do you focus more on the operators’ or your shareholders’ needs? Is it possible to find a balance?
“It’s a continuous process. We’re always looking for balance and new solutions based on strategies we developed internally. We always prioritise the operator as number one, the players as number two, employees as number three, and shareholders as number last.
“This does vary between our departments. HR focuses on staffing; while, as CEO, I spend a lot of time with shareholders. But if we’re talking about overall strategy, 90 percent of our energy is spent on the operator. We want them to experience our services and software and get as comfortable as possible.”
GR8 Tech already strongly focuses on new growth markets such as LatAm. Some industry commentators believe Southeast Asia will be the next iGaming region to boom. What are your thoughts on these regions, and does one offer more growth potential than the other?
“I believe in both regions, but the reality for South America is that every country is unique. Most people converge the region into LatAm and expect consistency. But you need to work closely with every country and operator that wants to launch using your product. Chile, for example, is different from Argentina, Argentina is different from Peru and so on. You must understand how to succeed and do business in each country.
“Southeast Asia is even more complicated because the differences between countries are even bigger than in South America, which brings many challenges for operators launching in the region. You have to work with this, recognising the design is different, and the user experience is completely different.
“European and South American markets are much closer than European and Asian markets. So you must fill the product gap and understand operators’ mentalities. For example, we built transparent agreements in South America. But in Asia, it’s more important to shake hands, have face-to-face meetings, and be physically present.
“I think both markets are very promising. But on balance Southeast Asia could be preferable from a business point of view based on population size. At the same time it’s more challenging, and so penetrating Asian markets I believe will take more investment.”
Editor’s note:
Evgen’s insights are delivered with perfect timing, and remind all iGaming industry stakeholders to stay fresh and open to new ideas.
From the future of social gaming, to the intriguing concept of Tinder betting, Evgen sees a future where gambling is increasingly accepted, converging with the mainstream entertainment industry and sparking an exciting evolution in innovation.
And what are Evgen’s thoughts on LatAm and Southeast Asia?
He’s backing both, but advises against homogenising either region because– despite obvious hemispherical synergies, every country, every market, is unique, with its own special challenges, and must be approached as such.
