EveryMatrix reached an important milestone. It’s moving on from its white label and B2C origins to focus on what it does best: software provision. Ebbe Groes talks about this direction, albeit with a hint of nostalgia for what set the company apart in its formative years. Closing the chapter on what were “exciting” times and ventures, Groes is honed into the company’s new drive forward and keen to get competing in the sports space while delivering specialised solutions for iGaming as he talks candidly about the changes and the challenges ahead.
At the halfway mark of 2019, EveryMatrix CEO Ebbe Groes can safely say it’s been “a good year so far”. Over the last 6 months, the company focused on bringing onboard big names in the industry and will continue to do so. In the next few months, the software provider expects to announce yet another signing – this time, that of a very large Tier- 1 operator. “The biggest one yet on our platform”, according to Groes. However, 2019 hasn’t just been about the development of new business for EveryMatrix; it’s also been about letting go of the old.
“At the end of May, we announced the selling of our B2C operation, the Jetbull brand. We held it for a long time, almost from the start of the company, and it was time to find another home for it,” explained Groes. “And this is not the only thing we’re letting go. We are currently in negotiations to close down the white label business. Moving forward, we aim to fully concentrate on being a software provider. In the last years, we have changed our business model, meaning we have left the start-up white label space. Our entire focus is now on signing large and established operators by selling specialised products rather than turnkey solutions.”
As every online casino operator knows, the B2C market is extremely competitive. Players don’t necessarily know what they are looking for when searching for online casinos, so operators need a strong brand to be able to stand out from the crowd. On top of that, they have to navigate changing regulations and ensure their back-end lines up with licencing stipulations across numerous jurisdictions, all while maintaining a strong customer service at the frontend. All in all, it can be both hard work and an excellent opportunity, but with Every- Matrix looking to be the best software provider in the industry, the company made the decision to focus all its energy on serving its B2B clients.
“We’ve been in those [white label] areas for a while and it has served us well, but we are now in a position, which is a bit of a luxury, where we can decline this kind of business and instead work with other companies that are in that space,” continued Groes. “We can focus on being a pure software provider. This of course, still means licensing, but only as a software provider and not having operator licenses.”
Indeed, for leaving B2C in the past, EveryMatrix is free to focus on building its future. This year, that future is OddsMatrix, the company’s sports betting solution. Starting with a fully managed sportsbook, EveryMatrix added more elements to its business, brick by brick; the platform, the casino products, the payment applications, all built from scratch to ensure EveryMatrix delivers specialised and competitive products. They now rebuilt the original OddsMatrix from scratch, going back to their origins.
“This gives us the ability to finally compete properly in the sports space. The first wave is migration of all clients before the start of the new football season. This sports product is sold both as a turnkey solution and as a stand-alone product. One of the many things we did was integrate it in the same way as our casino. This makes it quite easy for our clients and any of our casino clients can take this product, it has the same API managed by us.” As well as physical sports, EveryMatrix sees a huge opportunity in the world of esports. Launching its new esports service earlier this year, the software provider has utilised the back-end of its newly rebuilt OddsMatrix product to successfully create 150 new markets in the sector – and it already has clients taking it live.
“This wouldn’t have been possible in the old system, especially in such a short time. When we’re out showing this product, we receive a lot of good feedback on this because of its depth of information. It’s nice to have an esports product to be proud of, but for me it’s been most rewarding to see how we delivered a proven concept in a completely new area to us,” added Groes. “We’ve been able to create all those markets, including automatic settlement, and everything you want in a modern sportsbook. It’s a product that really stands out for us. Luckbox is the first live client for esports, now in the public BETA stage and looking to move forward. Also, they are one of the first clients to build their front-end on the back of our sportsbook. Giving them enough flexibility has been critical. Bookee, the sports betting mobile app with a Tinder look and feel, is the other operator to be live with their own front-end on our sportsbook.”
Another excellent opportunity for EveryMatrix is in the casino business. The company developed CasinoEngine from scratch, a top casino integration and productivity platform and the largest casino content library in the industry. This solution is helping clients entering new regulated markets by handling regulatory aspects and by delivering country-specific content.
“CasinoEngine helps clients to be technically compliant. Let’s take Reality Check, the vital UK requirement which costs a lot of people a lot of money and time. If you do this as part of the casino application, which is something we can do, then you can plug this into your own platform and then be compliant for the casino part.” The prevailing philosophy that makes all this possible? Adaptability. With a slogan like ‘Everything is possible’, EveryMatrix must expand the boundaries of feasibility for its clients, opening doors – and in some cases breaking down walls – to ensure their clients have the freedom to get creative.
“The key for us as a B2B software provider is to help our clients reach their potential and unleash bold ideas,” concluded Groes. “We do not impose rigid frameworks on our clients, we listen to their needs and adapt our offering accordingly.”