Previously, because Betcris was expanding rapidly, it was forced to react to the changing environment in an effort to stay on top of the payment needs of the company. It turned to payment service providers to assist, which resulted in higher fees associated with all incoming transactions. As the business grew, so did the fees, reducing the margin Betcris was able to receive.
With the help of WUBS, Betcris has now reduced its payment receipt service. This, in turn, reduces the fees it has to pay on all of its incoming financial transactions. The result is a "dramatic improvement" in the operator's revenue, with the WUBS team helping Betcris establish a better risk management strategy that includes fixed costs for marketing and other initiatives.
Carla Capo, who heads the treasure department at Betcris, explains: "Western Union was instrumental in taking out the guesswork of our marketing and business payments in different jurisdictions and currencies. Our financial costs have been significantly reduced and BetCris is less exposed to foreign exchange risk."
The immediate cost savings enjoyed by Betcris and the new risk management strategy allow the operator to better project and prepare for future growth. It has been able to reduce operational expenditures and more accurately determine returns on investment. At the same time, it has reduced the amount of time needed to monitor all financial transactions as they come in from various foreign currencies where Betcris has a presence.
Betcris has been a leading operator in Latin America's developing gaming market since 2006. It has been a fundamental part of the region's growth and is a pioneer in the creation of a transparent and regulatory-compliant industry that is able to serve multiple countries simultaneously. As the Latin American sports gambling industry grows, Betcris will continue to be a major component of the industry and will continue to be a driving force behind its success.
Source: GMB
