Sports betting seems to come with risks, so a supplier that promises to take on sports betting losses may seem like an odd approach. However, there is growing interest among operators. iGB speaks to RPM Gaming Director and Atlas-IAC Consultant Richard Thorp and his Atlas-IAC CEO Sergei Efimenko about their new risk-free sportsbook product.
The risk-free sportsbook claims brought about by the collaboration between RPM Gaming and software provider Atlas-IAC may raise some eyebrows. But the concept is fairly easy to explain.
RPM Director Richard Thorp said:
“So the simple sales pitch is to take the frame, plug it in, and run the sportsbook as another vertical product.”
By removing the fear of losing money on bad deals, Thorpe says the product has a distinct appeal for operators accustomed to a game where the house can’t be beaten.
“This is primarily for casino operators, bingo operators, lottery operators, etc. who probably have poker networks but don’t want to lose customers who bet on other operators during major sporting events.”
“If you have a losing month, a losing week, a losing day, it’s Atlas-IAC, not the operator. Atlas covers those costs,” explains Thorp.
In addition to being risk-free, sportsbooks also have the ability to spot integrity issues. This goes hand in hand with underwriting, he says, as sportsbooks that struggle to identify potentially questionable bets always risk generating large losses.
“So whatever your previous concerns, whether you’re betting just before an event starts or when you have a potentially dangerous feed, you know you have the tools to find and fix it.” he says.
“As a result, underwriting isn’t really a big deal for us, but we’re happy to do it in a revenue-sharing model.”
Eliminate risk
One of the reasons the product was created is what Thorp says is a lack of knowledge about the betting sector, which he says has permeated the industry.
“Quite a lot of people, especially in my previous role, often viewed sportsbooks as a high-risk product and a volatile area,” he says. “The idea behind it is primarily aimed at casino operators or other single product operators, especially sportsbooks who are unfamiliar with the solution itself.”
“For example, they wouldn’t want to have a trading team. They don’t understand the risks involved in running a sportsbook.”
Both Thorp and Efimenko emphasize the seemingly important points of this product.
“Literally you don’t have to burn fuel to manage it,” says Thorpe. “We take care of everything. And if there’s a downside, we take it.”
Efimenko agrees and wonders why casino-first operators simply don’t add sportsbooks to their offerings.
“We are here to question why some operators, for example with casinos and lottery poker, do not add sportsbooks,” says Efimenko. “We have the tools and the track record to make it a seamless reality with no downsides.”
“We can offer attractive additional verticals that complement their business and increase profitability. They don’t have to do much to integrate. We already have examples of successful integrations in , not 3 days and 3 nights.”
undertake the effort
Touting any product as risk-free is a bold move. But Thorpe is confident in his sportsbook products, and relies on tests as proof.
“The tools are tested and proven,” he says. “We believe in automation. We are confident that we know how to manage our customer base based on customer history and behavioral patterns.”
This confidence is one of the reasons the RPM Gaming and Atlas-IAC partnership was formed in the first place. Efimenko says reputation is an important part of the union.
“When you talk to people, when you do business, you have to understand their background,” says Efimenko. “It’s a small industry, so ask around.”
“When you have transparent honesty and a clear understanding of all processes, trust and efficiency come naturally.”
Trust forms the heart of any transaction, but the product in question must be viable in the market. When asked if he thinks this will be a competitive product in the market, Efimenko shows complete confidence in the risk-free sportsbook.
“Yes, the main reason is the unparalleled automation we offer in risk management,” he says. “In short, we are a safe proposition. So we can take the typical pressure points and administrative concerns out of the sportsbook process, bringing security and peace of mind to all the companies that partner with us.” .”
When asked the same question, Thorp agrees, but points out that business is in uncharted territory.
“Yes, and I also feel that no one has actually done this, at least competently, from what I’ve seen,” he says.
