Today I’d like to present to you a company that is making waves in the sports betting space, one of the hottest sectors at present, especially in the regulated U.S. market.
According to their website, RISQ defines itself as “striving to become the leading provider of liquidity, pricing and risk management to the global gaming industry across sports, casino and lottery verticals”.
So what the heck does that mean?
Read on to find out…
In an effort to educate gambling industry as a whole on what RISQ has to offer, especially those with a sports betting focus, I spoke with RISQ’s Chief Commercial Officer Tom Mitchell for closer look.
Becky Liggero: Thank you for joining me today, Tom. In partnership with Amelco, RISQ recently announced a revolutionary “industry first” sports betting solution – why does this solution have the potential to change the sports betting industry?
Tom Mitchell: Our partnership is the first of many we are looking to sign with sportsbook platform providers. Our solution allows them to offer their current and future clients the option to remove the volatility of running a sportsbook and to no longer have to contend with “losing periods”.
Instead, we give them a fixed guarantee based on turnover and volume. This allows them to concentrate on driving new player sign-ups, retaining existing players and providing a world-class online sports betting experience.
It also provides online casino operators with a more palatable solution to expanding into the sports betting vertical. Winning and losing periods are less frequent within other gaming verticals and are often put off launching sportsbooks because of the volatility.
Our solution removes this and provides steady and consistent earnings which they can then use to plan and budget for the running of their sports betting operations.
BL: Excellent, I bet this solution would be appealing to some of the new operators in the regulated US sports betting space. Lets switch gears a bit- some say the iGaming industry lacks innovation, but RISQ has succeeded in proving this statement wrong. How does RISQ inspire a culture of innovation internally?
TM: I don’t really like the term “innovation” as everyone in the online gambling industry claims to be innovative in one way or another. In reality, we, as a B2B service provider, are concentrating on developing bespoke solutions based on what the operators want.
For us, that means finding new solutions that can take risk away from online gambling operators. We also take an individual approach to each partner that we work with; our products and services are bespoke and not one size fits all.
In terms of creating a culture within RISQ where this can happen, it simply comes down to employing the very best people and giving them the freedom to explore and come up with interesting solutions.
BL: Sounds good to me! How else is RISQ striving to service the sports betting industry? What are some of the bespoke solutions RISQ can offer?
TM: We provide a consultancy service where our team of expert traders and quantitate analysts help sportsbook operators understand how they can improve their margins through data analytics projects. Most operators are drowning in data and are not using it to its full potential.
As mentioned above, all of our products, services and solutions are highly flexible, allowing us to provide individual trading, risk and insurance offerings for each of our partners. Our desired position in all of the industry verticals is to remain in the background. We have no desire to compete with established platform providers.
BL: Agreed most operators do not know what do to with all their data. So following up on our interview together from one and a half years ago, where are we with prediction games surrounding sports betting events and big jackpots? Are punters and operators still interested?
TM: Operators and punters are very much interested in prediction games and big jackpots. Most of our partners use sports jackpots such as Super 6 for player acquisition and retention and to great effect. We are also in the process of launching a sports lottery with a large jackpot weekly game with multiple game developers.
This has been developed with the U.S.A. market in mind and we will be releasing more details shortly, so watch this space.
BL: Very good Tom, thank you so much for your time and I look forward to following your work at RISQ.