Betinvest Ltd to provide software and support to FavBet’s branches in Croatia and Romania

avBet expands westward, its software provider Betinvest gets a lot of work to do. FavBet’s Europe market penetration starts with launching affiliate branches in Croatia and Romania that will be supplied by Betinvest.

The first step of FavBet in Croatia was purchasing a local sportsbook Favorit.hr – both online and land-based operator with about 95 betting shops throughout the country. Full rebranding of the network will start in February, and the launch of the new website Favbet.hr to redirect punters from Favorit.hr will follow. According to Betinvest representatives, the the company mission statement is to replace Favorit outdated software with a brand new digital platform. It concerns the betting retail software as well as the web-unit. While FavBet will be busy creating new POS and improving the rooms of existing shops, Betinvest will be carrying out the task of core reengineering of late Favorit system, enabling FavBet easy going rivalry with its local competitors such as PSK Hattrick and SuperSport. The latter owns half of the Croatian sports betting market, although both mentioned companies are not so much pari passu with modern trends in betting, which gives FavBet some good chances of taking over the local market.

As CEO of Favbet.hr Sergey Ivanov mentioned, the company strategy of expansion will be based on the advantages in product and service level: "BetInvest gives us a boost with a top-class product: more live events, much more markets per events and lots of unique markets on proprietary platform". As mr. Ivanov revealed, Favbet.hr is planning a total rebranding of online and offline product in Croatia: accounts of users of website favorit.hr will migrate to favbet.hr, and shops interior and exterior should be changed completely: "We aim to offer much more products to our customers, get them from the realm of shops with printed scores and stats on the walls to the digital world with computers, terminals, and lots of new virtual products".

Betinvest provides full technical upkeep to the current plans of FavBet management, which are quite promising: the conquest of betting markets of Eastern Europe and Balkans. This is believed to be the first step of a much bigger plan now limited by financial resources only.

In Romania FavBet and Betinvest will first of all deal with 50 POS to be bought and paid for (the talks with the current owner are being conducted at the moment). According to the plan, FavBet will also launch 30 new big betting shops over this year in Romania. As soon as they get the license for online betting in Romania, Betinvest will deploy the White Label solution for FavBet.ro.

Unlike Croatia, Romania is a much more advanced place in terms of culture and infrastructure of sports betting industry. The competition here is very intense with such big and settled brands as Superbet, Casa Pariurilor, Stanleybet and NetBet. All mentioned companies except two latter operators are local. Nevertheless, competition does not scare Sergei Efimenko of Betinvest – he seems to be confident of company's success. Superiority of Betinvest products is secured by its most significant advantages: the highest selection of live and pre-match betting types in industry, great number of live events, lots and lots of unique markets and leagues available for Betinvest partners only.

It is to be recalled that Betinvest will showcase its latest products at ICE-2016 exhibition which is taking place in London on February 2-4, 2016. The company invites everyone interested in its latest solutions to stand S2-260.