Discussing Betting Prospects: Will the Balkans Capture the Spotlight in 2024?
The Balkans is quickly establishing itself as a global hotspot, with the booming sports betting market in every territory making headlines. We chatted with Ivo Doroteia, CEO at Playbook Engineering, and Miloslav Ivanov, Chief Sales Officer at Atlas-IAC to get their insights on what the future holds for 2024.
So, what's the main reason behind such massive growth in the Balkans over the past year?
Ivo Doroteia: Over the past 12 months, the Balkans, particularly Bulgaria, has shifted its focus towards online betting after a long run as a successful land-based enterprise. Online betting has seen a exponential surge and it's attracted a lot of sportsbooks. Bulgaria has a rich sports history with football being the leading sport. Offering online odds on the region's popular sports has added another layer to the appeal. The region has received financial backing, and growth is expected to continue as we move into 2024.
Miloslav Ivanov: The primary factor behind the growth in these markets has been the focus on the land-based side for several years. But now, the online sector is getting the attention it deserves. This change has sparked interest, large investments, and the world is starting to take notice of the progress in the region's gambling sector.
With a robust retail offering, how does the Balkans compare to powerhouses like Italy?
MI: The Balkans are still a long way behind Italy in terms of retail growth. The region has made progress, but there's still work to be done before we can even consider comparing the Balkans to more mature markets like Italy. Lotteries are still the most popular form of gambling, but retail offerings are becoming more visible.
ID: Compared to Italy, the Balkans' land-based industry looks quite similar. However, Italy is one of Europe's most mature markets and has adapted to changing market demands for years. Bulgaria and Romania have taken Italy as a blueprint, and the retail industry will continue to play a significant role alongside the exciting online offering, as more players remain attracted to traditional forms of gambling.
From a betting perspective, which sports have taken off in territories like Bulgaria and Romania that have surprised you?
ID: Undoubtedly, football remains the undisputed king. Domestic football is well-supported, and this trend shows no signs of slowing down. Besides football, other "ball sports" like basketball and volleyball are gaining popularity, as the sport continues to expand beyond North America. The popularity contest among other sports will likely continue to evolve.
MI: Football remains the most popular sport in the Balkans and is expected to continue its dominance for the foreseeable future. In terms of online gambling, basketball also receives a lot of attention as it has gained popularity due to sponsorship. Other sports like MMA, gymnastics, and volleyball are also gaining interest among bettors and are vying to become essential choices for operators in the region.
How do you see the Balkans faring in 2024? Can we expect growth to slow down, or is there a prolonged period of rapid increases?
MI: I believe the growth will continue due to big players entering the market and making a significant impact. 2024 looks like a year of substantial growth for the region across various sectors. I am eager to witness the expansion firsthand.
ID: The region's growth will likely persist for at least a couple more years. It's a sports-rich region and popular industry players continue to enter the market frequently. By next year, the market could become saturated, given the ease of entry and the potential of the region.
Ivo Doroteia: Sports betting, specifically focused on popular sports like football, basketball, and volleyball, is a major contributor to the growth in the Balkans. These sports have surprised many, as their popularity has been steadily increasing.
Miloslav Ivanov: In terms of casino-and-gambling, land-based businesses are still behind mature markets like Italy. However, online betting is showing rapid growth, which is expected to continue into 2024, making the Balkans a region of significant interest for industry players.
