Take a nuanced approach to the US market
When looking to expand into the US market, European companies should be careful not to simply copy and paste their current platforms to serve a North American market. That is why Elys gaming technology opted for a nuanced approach to the post-PASPA market according to the executive chairman Mike Ciavarella while talking to SBC Americas.
In an interview with the recent SBC North America Summit, Ciavarella began by examining the growth of the US market following the repeal of PASPA in 2018. Elys Game Technology‘s patience has paid off, he explained, now that more states are coming together. are open to legalized sports betting.
He began, “The US market has basically been shut down for a very, very long time. But that doesn’t mean the market didn’t exist; it made. It’s always been there, it just worked underground. But since 2018, the market has been regulated.
“You have to understand that the regulated activities of our industry are very different from the unregulated sector. On the regulated market, the regulator tells you which products you are going to offer. It is not the other way around.
“To prepare for this market, we allowed the market to evolve – this could not have happened before the repeal of PASPA. So once that happened the market started to change. We then took the data from statistics and market analysis, looking at how players play, how lines move, etc. And rather than reusing our European platform, we designed and built a platform to address all of these nuances of the US market. .
“It took a long time, it’s not that easy. If it was that easy, everyone would, right? So we’ve taken a very methodical tactical approach to the US market and I think that’s going to pay dividends going forward. “
Elys Game Technology comprises an ecosystem in three parts: B2B operations, B2C division and technology development.
Serving the Italian market, B2C operations largely focus on distributing Elys Game Technology’s product to customers through its online and land-based network. In the United States, the company is a B2B supplier providing business services to a number of operators. These two components then come together to provide feedback to the technological development division of Elys Game Technology.
Looking forward to the rest of the year, Ciavarella explained that Elys Game Technology has found itself well positioned to meet the needs of the North American market.
He concluded: “2022 is an interesting year. We have now launched our first site in the United States, which allowed us to validate what we were building. This year will also be the year we can open up – not only in new places, but in multiple states.
“We are also starting to see a rotation of incumbents looking to replace their platform. So I think we are extremely well positioned on the American and Canadian markets.
Watch the full interview HERE