GMB - What is your assessment of Pinnacle's performance and growth in 2022? Was it expected or did it exceed your expectations?
Christian Raykoff - Our growth and broad success across the company has far exceeded our expectations. We had ambitious plans for 2022, with new markets and the World Cup as two big opportunities for Pinnacle, and having executed our growth plans and achieved good commercial results in major sports as well as eSports, we are excited for the new year.
Could you list the main achievements or goals achieved?
International expansion was one of our main objectives in 2022. Our strategy lately has been to look to regulated markets and cater to the millions of sports bettors looking for superior sports betting that goes beyond what many customers have had to settle for. In October, Pinnacle officially launched in Ontario, our first entry into the regulated market in North America, and the engagement and reaction we've seen from players across the province since then has been extremely encouraging.
Product-wise, we've made great strides in deepening our commercial content, with specific efforts in the Tennis Doubles and Qatar World Cup markets and, as always, we've led the way in delivering the best eSports betting experiences through from our evolving eSports Hub interface.
Recognized as 2022 eSports Product of the Year by SiGMA, the eSports Hub has raised the bar for eSports betting, with streamlined tools enabling faster betting, more engaging streaming integrations, and most importantly, the best prices, highest limits and market-leading uptime that allows customers to bet how they want, when they want.
On the side of traditional sports, the World Cup was obviously the big event. The results surpassed our pre-tournament targets and, coinciding with a huge USD 100,000 final bet, both new and existing customers enjoyed our most competitive prices and premium football content like never before.
In your sector within the industry, what themes or technological advances do you think will dominate the market in 2023? What will be the future trends?
I think there is a trend across the industry that sportsbooks are perhaps not giving their customers the service they deserve. Many operators are choosing to protect a consistent margin by limiting the sharpest segment of their customer base. Targeting recreational customers, who are more likely to tolerate limits and are less sensitive to lower margins, many brands are diminishing the quality entertainment that sports betting can provide.
In 2023, we would like to see more operators focused on raising the standard of their commercial departments, taking more risks by offering more bets to more types of players, and in doing so, we will start to transform the perception of sports betting, showing a fairer relationship between punter and sportsbook.
Did you notice that the gaming market in Brazil made gains this year or missed another opportunity?
You could probably argue that the market has gained while losing opportunities. In an election year, there will always be obstacles to progressing down the road to an open and sustainable sports betting environment, and as an industry, we have to be patient with these broader developments.
That said, there are certainly developments in 2022, and the conversations we are having at trade shows and with industry peers are becoming more positive as we become more informed about what the future gaming landscape in Brazil will look like.
What do you envision about the regulation in the country for 2023?
We look forward to the regulatory progression that will occur in 2023 with optimism. Steady positive progress continues to be made and we know that (with considered regulation) the benefits to all iGaming stakeholders will come. Whether we'll cross the line in 2023 remains to be seen, but after waiting so long, it's better to do it right than to rush things.
What are Pinnacle's main goals/objectives for 2023?
Using the World Cup as a springboard, Pinnacle is heading into 2023 busier than ever, with a roadmap through traditional sports, eSports and products that should further cement our position as the preferred sportsbook for professional and recreational bettors alike.
Several small but significant iterations will come together to raise the bar on our UX capabilities, both on desktop and mobile devices. Putting the right content in front of punters at the right time and enabling them to place bets more knowledgeable and easily remains something we strive for. The new changes, which will become visible in the coming months, will deliver these gains and ensure that customers have the betting experiences they demand.
eSports remains an important pillar of the Pinnacle ecosystem. We've had huge success with our Pinnacle Cup series over the past two years and plan to continue delivering this exclusive eSports betting content to customers in Latin America and beyond in 2023. This will support our award-winning eSports Hub, which we believe is the industry standard for eSports betting around the world. With many improvements coming to the Hub, including smarter leaderboards, better localization and ever-expanding content, we are confident that Pinnacle will continue to build its reputation as the authentic eSports bookmaker.
Source: GMB
