As operators steadily return to normal with live sporting events starting to restart and global regulations gradually easing, the betting landscape has changed drastically with new channels, such as sports, booming while other markets have faced an uphill battle.
As new horizons starting to open up, businesses will also have the ability to branch out and build a new market for sports bettors, offering a modern approach to conventional odds. is one of those firms with an exchange of peer-to – peer betting events that allows player-to-player betting.
Viktor Kopylov, CEO of the firm, highlighted why the operator made an entry into the betting market, and addressed the intentions of Si14Bet to incorporate cryptocurrency alongside fiat money.
He said: “With a lot of experience in the gambling industry, our company was experiencing the pain of the industry. It was a constant blocking of accounts and cutting of maximum betting. The turnover in our bookmakers was up to $200 million per month. We used different strategies to manage our capital and were very successful in doing so.
“When the question of managing large amounts of money arose, we decided to develop our platform. We took into account all the pain of the industry and our users will have the best conditions in the betting market.
“Users use our platform as an exchange that has supply and demand. The difference from a stock exchange is that instead of stocks, bonds, the subject of trading is sports events. Tokens are used as a tool to reduce the commission of the platform. The classic fee of the Si14 exchange is one per cent, but users who have purchased tokens can exchange them for a discount of up to 0.2 percent.”
The peer-to – peer betting system offered by the operator allows punters to set their own stakes against each other without pre-made data provider odds. Nonetheless, Si14Bet must partner with feed suppliers to provide fans with details on sporting events in order to provide tentative odds that users may track.
Kopylov commented: “We will work with feed suppliers such as Betradar and others. Since we initially do not have odds on the exchange and they are formed by users – companies such as Betradar – form a recommended odds column. This is done for the convenience of our users.”
The operator is planning to launch the app in August, but in the meantime the company has announced that the software is being tested by 20,000 users to ensure a stable environment is already installed upon launch.
With the company to expand into new markets, Si14Bet is currently based in Switzerland and would therefore need to acquire further operating licences, which is its intention. Additionally, the firm is serviced by the TOP Bank of Switzerland which provides immediate protection for the funds of players.
According to Kopylov, one of the problems associated with the exchange betting scene is that outsiders face liquidity issues and watch major competitors’ operation. Nevertheless, the CEO stressed that due to the excitement created by the platform with its beta test, the platform had already resolved its liquidity problem.
Kopylov reiterated: “The liquidity problem in our company was solved very quickly by the interest of professional players with high liquidity. Our large target audience is the players who hedge their positions and deal with arbitrage situations in the betting market. To date, we have signed some memoranda with developing countries such as Africa, Costa Rica and others.”
Overall, Si14Bet is aiming to enter into a market heavily affected by a global pandemic. And the platform could grow well in this new environment with its P2P programme, unique crypto-currency alternative, and lack of sporting preference.
Concluding: “Si14 does not make preferred sports. We focus on all markets for sporting events. Of course, the main sports will be highlighted with a wider service line such as – Football – Tennis – Esport – Volleyball – Ice Hockey – Horse racing and others.
“We have been in the betting market for a long time and we know the pain of the industry. With this information, our company has taken into account all points and made a platform from which no one will leave. Besides, we have innovative solutions that are not found in the betting market.”