BetBright on track for 270% growth in 2017

Dublin-based operator BetBright is on course to increase its full-year net gaming revenues (NGR) by 270% year-on-year to €16m, according to figures seen exclusively by EGR Intel.

In the five months to 31 May 2017, the Irish betting firm had already surpassed the €6m in revenues it recorded last year, which CEO Marcus Brennan largely attributed to BetBright’s in-house technology.

“To build the best product around the needs of your customers you must own and control your technology as that is what enables real innovation and differentiation – otherwise you are just differentiating on price and colour scheme,” Brennan told EGR.

He added: “We have a very clear understanding in specifics of what our customers feel is missing in the incumbent’s products and where the opportunities lie.

“Growth is solidifying and continuing and BetBright has not experienced the much talked about and dreaded summer lull.

“On the contrary, July was ahead of expectations and growth in August is significantly ahead of target.”

BetBright, which last week unveiled a new in-house built Cash Out function, currently has 115 employees, more than half of which work in technology but only nine on the firm’s trading floor.

“The sports betting sector is hampered by heavy technology dependence on third party suppliers which has resulted in poor UI/UX, lack of innovation and long lead times and cost,” Brennan added.

“We offer all the sports and most of the markets as the big guys do 24/7/365 but we have just 9 guys in trading in a well-run highly automated machine and we make margins every bit as good as theirs and with strongly competitive pricing.”