Bulgaria can be the jewel in the Balkan crown
Altenar has been busy in the Balkans, with the Bulgarian market being of particular interest to the sportsbook. With partnerships agreed with major operators such as Palms Bet, what lies in store for Altenar and the market itself? We caught up with Altenar Account Manager, George Mavridis, for his insights into what is making Bulgaria such a compelling region.
How did the partnership with Palms Bet come about and what attracted them to Altenar’s solution?
Altenar and Palms Bet’s partnership journey started after a number of long and serious business conversations between the two parties which were wrapped up successfully only recently. As they say, great things take time!
The high-quality services, the stellar work ethic and Altenar’s multi award-winning sportsbook solution made Palms Bet’s decision to partner with us an easy one. Given that they’re an operator with years of experience and an incredibly deep knowledge of the industry and the Bulgarian market, it was a no-brainer for both us and them to partner up and expand our presence within such a fast-growing territory. As many industry analysts are already stating, Bulgaria can be considered one of Europe’s most exciting opportunities right now. The country has excellent demographics and a population that is passionate about sport.
Will the partnership continue to grow further over the coming months?
The aim of every business relationship that we develop at Altenar is to grow into a multi-level long-lasting relationship that drives engagement and incremental revenue. Palms Bet is no exception to this rule, and we are looking forward to evolving and progressing partnership in a market that as we’ve covered, is one of Europe’s most exciting growth opportunities right now. With Palms Bet being one of Bulgaria’s leading operators, we will continue to discuss various ways on how we can enhance this relationship over the next year across every aspect of the multi-channel.
Why is the Bulgarian market such a vital territory for Altenar?
The Bulgarian market is considered vital for Altenar for several reasons. Firstly, as we’ve already covered, Bulgaria has seen significant growth in in recent years, especially in the online space. Secondly, the country has a large population of passionate sports fans, which has contributed to the increasing demand for betting services.
Bulgaria has also implemented favorable regulations for the betting industry, providing a well-regulated and secure environment for operators, which makes it very conducive towards good business. Inevitably, this has attracted both local and international betting companies to invest in the market – which will no doubt fuel further growth.
The region also has a high rate of internet penetration and digital adoption, making it an ideal market for online betting platforms to flourish. Of course, the effect of this will be to compound adoption even further – as an entertaining experience will no doubt encourage others to give online a try for the first time.
So, overall, the combination of a growing market, favorable regulations, digital adoption, and a sports-loving culture makes the Bulgarian market an essential territory for the betting industry – and by far one of Europe’s most exciting growth opportunities right now.
Are there any further plans to expand in Bulgaria over the next year?
I’m sure we’ll have plenty more news to announce in the near future! At Altenar, we’re always looking to expand our presence across regulated markets, and an opportunity like Bulgaria will be no exception. I’m sure that our success together with Palms Bet will provide an excellent case study and incentive for other big brands to give us a try. This will particularly be the case across the Balkan region, as they key to good business is always about identifying growth opportunities early and riding that wave.
Why is BEGE such an important expo for Altenar?
As we’ve already covered above – Bulgaria, and indeed the Balkans have so much potential right now, so the Balkan Entertainment and Gaming Expo (BEGE) is an important expo for Altenar for several reasons.
Networking is of course key for us, and the BEGE offers the perfect platform for industry professionals, stakeholders, and experts to come together and share ideas and experiences. It also allows participants to establish connections, collaborate, and foster new partnerships and business opportunities within the betting space.
The expo also offers valuable insights into the latest trends, developments, and innovations in the sector. Given what it delivers in terms of exhibitors, speakers, and workshops that provide industry updates, market analysis, and predictions – I have no doubt that it will prove one of the region’s annual highlights. I cannot emphasise enough how in-person events like these helps attendees stay informed and adapt their strategies accordingly.
Another crucial role BEGE plays is its anchor status as one of the major local events that can promote business expansion, especially given the amount of outside interest from Europe and beyond that it attracts, so it can prove to be an excellent way for local brands and partners to expand their customer base as well as increase international visibility.
Last but not least, another key fixture will be the latest of the legal and regulatory side of affairs, and will certainly provide valuable information on compliance, licensing, and regulations specific to the Balkan region. Given the multiple countries that form the Balkan region, brining so much expertise together will help companies navigate the legal landscape and ensure their operations are in line with local requirements.