GG.Bet CEO: The active development of the esports industry

GG.Bet CEO Dmitry Voshkarin discusses the growth of esports in recent years, and how GG.Bet has developed within this vertical over time.

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How has GG.Bet developed as an esports betting company?

GG.Bet was founded for esports fans by esports fans. Even the inspiration behind our company name comes from wanting to wish esports fans a fun gaming experience: GG stands for “good game” in gamer slang. As gamers ourselves, we consider betting to be an integral part of the fun and want our customers to have the best possible esports betting experience.

When we chose esports as our main niche, we also chose a development path that was fairly off the beaten track when compared to traditional bookmakers. Although there are regular major esports events happening in stadiums, we primarily deal with online tournaments. You could say that our audience lives online: they watch online streams, play games and keep up with professional players via Twitch. A whole world of entertainment is right at their fingertips; with one click they are transported to another realm of fun.

How does GG.Bet adapt to the fast-growing industry?

Because the gaming world moves quickly, we have to keep pace with any developments. This means being very responsive when it comes to changing odds and adding new markets in live games. In order to make this possible, GG.Bet now works with a team of traders who possess outstanding esports expertise. The team of traders understand all the ins and outs of games: rules, characters and winning conditions. Esports is an incredibly dynamic industry that requires a thorough knowledge of current developments.

This is because the development of the business itself is very closely linked to the choice of such a niche market. Whenever we make a decision about introducing a new feature, we consider whether it would be beneficial to an esports bettor or not. We tailor our interface to the user behaviour metrics of gamers. Our bonuses and tournaments are organised to coincide with esports events. We develop services that are tailored to esports betting to a tee.

We work hard to appeal to our audience by engaging with the modern esports industry as much as possible. Our efforts include sponsoring tournaments, teams, influencers and content creators, as well as frequently attending all major events. We want our website to be the go-to place whenever someone is thinking of placing a bet on a Dota 2, LoL or CS:GO match.

What did GG.Bet accomplish in 2022?

In 2022, we began to actively expand beyond the European market and into Latin America and South-East Asia. In the first six months we gained many more customers from Poland, Brazil, Peru, the Philippines and other countries. In order to accommodate this new customer base, we translated our website and our customer support page into several new languages. We also made a number of improvements to the website itself: from new features that helped our trading experts to website changes visible to all of our users. One example of this is the personal feed, which was introduced on the GG.Bet website in summer 2022. This feature includes a selection of events based on user preferences and shows upcoming gaming events that might be of interest.

We also focused on increasing brand awareness and supporting the esports community in 2022. The sponsorship of international esports tournaments is yet another achievement that the GG.Bet team is incredibly proud of. This year, GG.Bet became the official betting sponsor of the biggest CS:GO and Dota 2 tournaments: PGL Antwerp 2022 and PGL Arlington 2022. In September, GG.Bet became the very first partner of the Regional Qualifiers, Last Chance Qualifier and the group stages of the DPC tournament, part of the major Dota 2 tournament, The International. This competition is a bona fide festival for all fans of the game and we’re delighted to be its very first official sponsor.

How does GG.Bet prepare for tournaments?

We prepare for each tournament and carefully consider what activities would stimulate interest in the action to make it even more exciting and captivating. That’s how we come up with unique projects which we run both at the venues and online. For example, we built a stand during the PGL Antwerp 2022 tournament, which became a focal point at the event. Friends used it as a place to find each other again after losing one another in the crowd. Bloggers and influencers used it as a location to film their vlogs. Fans could draw posters here to support their favourite team from the stand, as well as play an immersive quest game and get autographs from their idols.

When it comes to content, I’d also like to mention our work for the PGL Antwerp 2022 tournament. We teamed up with Europe’s most popular esports media brand, HLTV Recap Show, to create a joint show. And, to make sure that fans who couldn’t make it to the venue still got to enjoy the atmosphere, we also posted a vlog on our YouTube channel GG! Media. This content for PGL Antwerp 2022 garnered a total of two million views.

In 2022, we also stepped up our efforts by working with esports influencers. Our ambassadors include content creators from Asia, the UK and Canada. Together, we work on content that broadly covers the topic of esports: from detailed, analytical shows with Jacob “Pimp” Winneche to fun and entertaining content with Andrew Jenkins on TikTok. So, what was the end result? The number of GG.Bet users grew by 68% over a period of 10 months during 2022.

The European market accounts for almost half of the world’s esports betting today, but its growth is gradually settling down. On the other hand, Latin America, Asia and the Pacific region continue to be potential hotspots for growth in the next few years

How has the esports betting vertical grown over time?

Esports betting is a very dynamic industry that has seen a lot of growth in the last few years. Its market growth has fluctuated between 21-22% over the last five years, and even according to the most conservative forecasts, market growth is estimated to remain at 15-18% in the next five years, despite unstable global market development. The European market accounts for almost half of the world’s esports betting today, but its growth is gradually settling down. On the other hand, Latin America, Asia and the Pacific region continue to be potential hotspots for growth in the next few years.

With competition so high, we are always looking for new approaches to business development and ways to stand out. Wherever esports fans may be and whatever games they play, we want to give them the best experience possible. With this in mind, we added custom markets on the GG.Bet website for the PGL Katowice 2022 tournament, which caused quite a stir in the media. This year, we also tried implementing a comprehensive bonus system and offered users separate, specific bonuses for the Group Stage, Playoffs and the Final. As a result, the bonus programme completion rate doubled from 12% to 24% compared to the PGL Stockholm 2021 tournament, and the percentage of deposits relative to completed bonuses increased from 24.9% to 27.5%.

Back in 2022, GG.Bet teamed up with influencers and esports organisations and began to hold charity match-shows, which raised money for medical equipment to help victims of Russian military actions in Ukraine. This project highlighted the fact that esports is not part of some parallel world; it is integral to the here and now. In conclusion, new opportunities and ideas crop up almost every day in the esports betting industry, and GG.Bet aspires to be a trendsetter in this field.

What does GG.Bet have in store for 2023?

Firstly, we’ll continue to implement our global expansion strategy, with a goal for GG.Bet to be closely associated with esports betting. Secondly, we’ll keep working on our platform. We’re currently preparing for the release of an updated interface and the introduction of gamification. We hope that 2023 will bring lots of major tournaments and we’re making preparations to support these tournaments with projects that will gauge interest.

How has the release of FIFA 23 impacted esports betting?

One of the advantages of the FIFA series is the regular updates of in-game performance and graphics. Every new version of FIFA brings the audience an even better experience and raises expectations in the esports industry.

Bettors who like FIFA football prefer placing quick bets. For example, a normal online football match only lasts 12 minutes, whereas a traditional football match lasts a minimum of 90 minutes (not including half-time). In the Volta league, there are only two halves, each lasting three minutes. By placing bets on FIFA football, users get the opportunity to amp up the speed and fun, which makes for an exciting and casino-like experience. 

At GG.Bet, we’re offering three unique FIFA leagues: the Elite League, which includes the best football clubs in Europe, the World Cup, which includes national teams from around the world and the Volta Football League. We create and host these matches whilst AI plays out the games. Many users trust AI games more, as they cannot be affected by bribery. This means that FIFA 23 opens up a whole esports betting network for fans of quick, simulated matches between two computer opponents. Moreover, since the quality of the games continues to improve year by year, we’re expecting a gradual, but steady increase in our customer base.

Perhaps the fastest-growing aspect is general public awareness and recognition that esports is an interesting, captivating and exciting form of entertainment. The main reason for this is the active development of the esports industry in the last few years

What is the fastest-growing aspect of esports betting?

Perhaps the fastest-growing aspect is general public awareness and recognition that esports is an interesting, captivating and exciting form of entertainment. The main reason for this is the active development of the esports industry in the last few years. New teams and disciplines are coming onto the scene, and events are growing in scale and extravagance to such an extent that they can easily compete on an even footing with traditional sports such as football. So what does this mean? Firstly, the young audience that was interested in esports 10 years ago has now become more financially stable and has retained its interest. Secondly, more and more people are interested in esports and betting as a complementary activity to watching matches. Therefore, the potential customer base for esports betting continues to expand worldwide, except in the unique case of China, where government regulations have led to a decline in customers. 

Mobile betting is also extremely popular at the moment. People want the option of being able to place bets wherever and whenever they like: on the go, on holiday or on their coffee break. Another trend that is being affected by regulations, is the evolving legislative framework on the promotion and operation of esports betting. Although not all countries have prescribed laws on esports betting, more and more countries are implementing them.

GG.Bet keeps track of international and local trends in different countries and takes them into account when devising its development plans. Our goal, however, remains the same: to provide the easiest, most exciting and best esports betting experience possible to each and every single esports fan, wherever in the world they may be.

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