BETEGY enters Chinese market
Polish football betting analytics startup BETEGY has signed a licensing agreement with Chinese Welfare and sports lottery provider SunLoto. Right before the start of the FIFA World Championship 2014 in Brazil, the Warsaw-based analytics venture thus contracted a partner in one of the biggest markets for sports betting worldwide.
Negotiations between Wozhongla – the parent of the SunLoto lottery – and BETEGY started last September and took about six months to be finalised, 28-years old BETEGY CEO Alex Kornilov who founded the company in his mid-twenties told inventures.eu. When it comes to the details of the licensing agreement, Kornilov shared a few details: “We provide Wozhongla with our platform, design, knowledge in marketing and user acquisition, [and] data via API (generated on our side).” Wozhongla, on the other side shall “[…] invest heavily in marketing of the product in China and distribute [it],” said Kornilov. From this perspective, BETEGY claims, this partnership has also a strong spirit of a joint venture already.
More to come in Europe
The BETEGY API allows football betters to use statistics and their in house-developed algorithm to scientifically analyse the probability of certain outcomes of a football match and make the right decisions when betting results. They are currently preparing a special product for the world cup in Brazil that shall be announced shortly.
Asked for the software firm’s expansion plans in Europe, Kornilov lists the countries of the major football leagues in Europe as their next targets: “Next step, we plan to go local on the main football markets in Europe. Germany, France, Italy and Spain are on our radars.” In Poland, BETEGY currently employs around ten people and has been active for about two years. The future, however, shall also bring new features such as in-game predictions for users in their iOS and Android apps.