"TVBET continues to expand its live games coverage across the globe"

Which have been the financial/social/corporate consequences of the sports cancellation crisis for your company and the industry as a whole? 

More generally, the current situation forced our partners from the betting industry to face the lack of supply. It has become extremely hard to retain players at their platforms, not to mention betting shops’ regulars. In this case, TVBET is really helping operators, because our products have mechanics similar to those of sports betting. Everyone knows the rules of the well-known games like Poker, Keno, WheelBet, etc. This is a time of opportunity for our team.

Which were the measures/restrictions/limits/changes your company implemented voluntarily or had to adopt in accordance with local quarantine measures?

We realize the importance of precautionary measures implemented in several countries and follow them. Speaking of our studios, we are taking care to make sure our personnel doesn’t put themselves at risk there. These days our TV presenters and technical operators there all have a required amount of tests, antiseptics, air purifiers that have been also placed. The rest of our employees works remotely in their countries. We continue to expand our live games coverage across the globe, no cause to worry.

Has this situation changed your company's short and long term strategies and business plans? if so, in what ways?

The only aspect that has undergone calendar changes is our participation at international conferences and expos. But as you understand, this affected all igaming market participants, so it’s okay. Just doing our best and keep communicating remotely via chats and video calls.

What about the global and local gambling industry? Do you think the tendencies and customer behavior expected for this year and beyond will change? If so, in which ways?

We are already seeing these changes. Now, the majority of users are discovering alternative online amusements for them, as cybersport, virtual casino, and live-games. The current situation will definitely create some incentive for betting operators not to ignore alternative products anymore.

How much time and resources do you estimate it will take for the global and local industry, as well as your company, to recover from the financial impact of that situation?

According to the latest IMF forecast, the great lockdown will shrink the global economy by 3%, so it won’t be quick to return to the normal. As for the global gaming industry, we’re seeing a drop in the average check right of operators now, and it will take a while to return the levels of 2019.

Are there any bright sides to this situation? If so, could you detail them and explain how your company and the industry could capitalize on this experience?

At our company, we see a growing increase in user activity now. For the first three weeks of March, the daily number of bets on TVBET games increased by 31% in March and rising. Therefore, at these challenging times, we’ve got a lot more work to do. Our versatile games broadcasted in realtime help casino and betting operators in retaining incomes at normal levels. Other sportsbooks understand it, which is why we have recently announced many new collaborations, while more integrations are in the process now.