FIRST.bet brings SportOS betting platform to Swedish operators
The Bulgarian sportsbook technology supplier has launched its backend betting system in Sweden, as it widens its European focus amid upheaval in Latin American markets.
FIRST.bet has entered the Swedish market, bringing its SportOS betting operating system to local operators for the first time, SBC News reported.
The Sofia-based B2B supplier provides pricing, trading, risk, bet acceptance and settlement services as backend infrastructure. Under its model, operators keep ownership of their frontend code, design and user flow, while FIRST.bet runs the technical engine behind the sportsbook.
Tom Light, founder and chief executive officer of FIRST.bet, said Sweden was chosen deliberately for this stage of the company's growth. "Sweden is the right place to start this phase because it is a hard market to impress," he said. "Every operator there works under the same strict rules, and a bonus is only allowed the first time a player plays, so the product is what sets them apart."
The Swedish market is regulated under rules that restrict bonus offers to a player's first bet, placing greater weight on product quality to differentiate operators. Despite its relatively small size, Sweden hosts a cluster of established and profitable brands, including state-owned operators Svenska Spel and ATG alongside private firms Unibet, LeoVegas, bet365 and Paf.
The Swedish launch comes as FIRST.bet moves into what it describes as its next phase of business development, following a period in which the company has concentrated heavily on Latin American markets, particularly Brazil.
Brazil has recently announced a ban on online betting and gambling, a decision that could be reversed depending on the outcome of the country's upcoming election. The uncertainty has already contributed to job losses across the local industry, with operators and suppliers bracing for a hit to expected returns on investment.
That disruption in Latin America appears to be pushing FIRST.bet to place greater emphasis on Europe. Light argued that the company's model is designed to appeal to operators who want control over their own product without having to build trading capability from scratch.
"The strongest operators want to own their product and their frontend," Light said. "You do not build a whole gym just to work out. Operators should not have to build their own trading operation just to own their sportsbook. They own what the player sees, and we run the engine behind it."