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HIPTHER Agency proudly introduces the Sponsors for the highly anticipated GamingTECH CEE Summit taking place in Budapest on September 26-27th, 2023!
Vlastimil Venclik is Oddin’s CEO and co-founder. We spoke with him to learn more about Oddin, its history, success, and position in CEE.
Vlas: Hello! Thank you for talking with us. Please introduce yourself to us and our readers and tell them a little about your role with Oddin.gg.
My work experience is mostly connected with software development. I have a background in Cybernetics and Intelligent buildings. I began as a mobile programmer, moved to the cloud and ended up with AI. In 2015, I started my esports career when I joined a startup that was one of the very first in the esports industry. We went bankrupt because the market wasn’t ready. Oddin.gg was founded in 2018 after I realized that there was still potential. We have become a multi-award winner B2B provider for esports betting odds, risk management and iFrame. I lead the IT, Data Processing, and Business Intelligence part of the business, as well as the top-level management duties.
Since the early 2010, Esports has been the buzzword in the industry. It was hailed as the “future of iGaming”. During the pandemic, many sports-based games became the preferred sportsbook option instead of real-life events. What is the current position of eSports on the market?
Now we are in a fully recovered market, which has gotten rid of all the anomalies that Covid caused. The esports industry is undergoing consolidation. Teams, brands, platforms and all other parts of the ecosystem are becoming more professional. This process will have winners and losers. All key metrics show significant growth. The esports industry is expected to generate $10 billion in revenue this year. We expect revenue to grow at least 8 percent per year (CAGR from 2023-2028), but possibly up to 13 percent. The biggest market for esports, esports gambling, is where we operate. The market is expected to reach US$10 billion in 2023 and an estimated US$24 billion in 2028. We have plenty of room to offer a much higher level of bettor engagement and more fun for spectators.
Oddin.gg provides B2B betting solutions for esports. What exactly is “esports gambling” and what are Oddin’s products?
Esports betting involves placing bets on the results of video games and tournaments played by professional teams, much like in traditional sports. Online games, and especially those played by professional teams of esports whose actions per minute are just astounding, generate huge volumes of data each second. Only the NFL can compare to the quality and volume of data analyzed from player actions and matches. We offer a complete suite of solutions at Oddin.gg for businesses looking to enter the esports betting market. It includes the construction of odds feeds and risk management tools, which means guarding anomalies on both the player and bettors’ side. We ensure operators can provide a seamless and engaging experience for their users.
What makes eSports betting engaging for users of all ages? Live Markets for eSports: Can they work?
A great esports experience is dependent on several key factors. The accuracy and depth in live match data is the first thing to consider. Fans are interested in betting on multiple events and not just the final result. In this respect, live markets are crucial. The dynamics of a match in esports can change at any moment. Being able to place bets in real time is a great way to enhance the excitement. Live betting is a great way to engage the esports crowd. We offer a variety of accurate and instant options. We believe that we can make the experience better than it is now.
What is the value of eSports to operators and how would Oddin.gg suggest that their offerings be marketed, utilized and incorporated into operators’ business strategies?
Esports presents operators with a unique opportunity. Esports tends to attract younger, digitally-native audiences. Operators can diversify their user base and future-proof it by catering to this demographic. Esports enthusiasts are tech-savvy, and they demand a frictionless user experience. Integrating esports offerings can help operators raise their technological standard.
Oddin.gg stresses the importance of authenticity in marketing and integration. Operators must either have a partner that is familiar with esports and understands it, or they should be able to do so themselves. We recommend collaborating with esports personalities, sponsoring tournaments and creating esports betting sections or platforms. It’s important to learn the language of your community in order to earn their loyalty and trust. The esports community is rewarding but can also punish you severely. You can lose traffic over night. We are ready to help any client get started in esports and betting on esports. Our iFrame is designed for this purpose.
Hipther’s GamingTECH conferences have focused on how Technology has propelled the iGaming evolution. eSports are at the intersection of tGaming, Tech and Hipther. What message does Oddin have for GamingTECH CEE attendees regarding the value of eSports today and in the future.
Our message is simple: Esports are not just a fad – they’re the future. The line between mainstream culture, gaming and tech will become blurred as technology advances and becomes more integrated in our everyday lives. Esports is the perfect combination of these elements. Now is the perfect time for those in the iGaming sector to embrace esports. Invest in understanding the ecosystem and offer offerings that resonate within the community. Esports’ value will continue to grow. Next generation pro-gamers will be admired in the same way that we admire Messi Jordan and Gronkowski. Esports betting could be adapted to cater to the needs of the upcoming generation and fuel the entire esports eco-system.
I would like to thank Vlas and the Oddin.gg team for their continued support.
We are looking forward to meeting you at GamingTECH CEE in Budapest for the annual reunion!
In terms of the best, Oddin.gg was voted the BEST ESPORTS BETING PROVIDER in CEE in GamingTECH Awards 2023 by its peers!
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