In the latest edition of The Big Betting Balagan podcast, the hosts spoke to Sportsbet.io Founder, Tim Heath, who outlined his company’s roadmap to success in crypto-betting.
What is it?
Tim Heath outlines how Sportsbet.io became one of the most profitable operators in the cryptocurrency betting space, and highlights the importance of KYC policies in the industry.
Who is it?
Lee Richardson: Co-host, Big Betting Balagan Podcast & Chief Executive, Gaming Economics
Dan Phillips: Co-host, Big Betting Balagan Podcast & CEO, NEL Advisory
Vigne Kozacek: Co-host, Big Betting Balagan Podcast & iGaming and Sports Betting Technology and Security Consultant
Tim Heath: Founder of Sportbet.io and Yolo Investments
What is being said?
“We have ridiculously high limits on our background and our sports betting,” Heath stated. “The biggest bet I’ve taken was €2.3 million on the World Cup, and we regularly have guys bidding $100,000 on baccarat for long sessions, so I don’t know many other operators that are willing to take a bet of that size, but with crypto, the money can move very quickly and very efficiently back and forth.
“And the great question is always: What about KYC and AML? We can do more, by analysing the blockchain of when a deposit comes in.
“When a deposit comes in we programmatically go and analyse blockchain on where the source of funds come from, how much money is in the wallet, what our share of wallet is and what is the player’s propensity to gamble, or where he spends his money elsewhere.
“We can paint a very good picture, not just from asking from a KYC document but also the share of funds and understanding what their financial situation looks like so we don’t have to go and ask a customer directly ‘send me your bank statement,’ because I find that incredibly intrusive and quite disgusting these days that a sportsbook has to go to those types of lengths, when it’s not really their role.”
Heath also commented on Sportsbet.io’s international expansion, saying: “The Middle Eastern countries, the Latin American countries, and the African countries are where we see significant growth and upswing, particularly because a lot of them are pre-regulated markets, so it’s not really set in stone how that works.”
Why should I watch it?
To learn more about the crypto-currency sector, and find out what a seasoned industry professional believes are the main primary benefits of the market.
Where can I see more?
Source: The Big Betting Balagan YouTube Channel