Combining state-of-the-art technology with quality service support, GR8 Tech is known to be one of the go-to service providers for iGaming operators looking to scale and grow their businesses. The company was recently shortlisted for the prestigious SBC Awards in the Sportsbook Supplier of the Year and Live Betting Product categories and received a Sportbetting Provider of the Year nomination for the SiGMA Awards.
Its sportsbook has demonstrated operational efficiency across different markets over time as a part of GR8 Tech's solution suite. Polished and perfected, the sportsbook was undoubtedly ready to be launched as a standalone product and enable businesses venturing into online betting. And that's exactly what the GR8 Tech team decided to do.
Tech.eu asked the team behind the launch to share their insights – from GR8 Sportsbook's unique selling points to the challenges the team conquered to make the platform into one of the most reputable standalone platforms in the market.
A decade-long journey towards handling 1 million settlements per minute
First things first. To those unfamiliar with iGaming terminology, a sportsbook is a platform where users can bet on various sporting events. Sportsbooks offer a digital betting experience provided by software that determines odds, tracks bets, and ensures transaction security. Such platforms are more than just a spot to place a bet and win money, they also allow iGaming operators to manage the content available to craft the most suitable betting experience for their users.
GR8 Tech had offered the sportsbook as a part of its solutions for nearly a decade before launching it as a standalone product in mid-August 2023. Hence, the company could offer the iGaming market something that none of the brand-new product launchers could – a fully functioning product that has not only undergone testing and trialing but has already been polished for years.
This year, GR8 Sportsbook has already serviced more than 1.5 million unique bettors for its client operators. The standalone product is enabled by rigorously tested software capable of settling 1 million bets per minute, with over 99% of all bets settled within 60 seconds, and it's no wonder that such a level of high functionality is in high demand in the iGaming market.
The tech behind great performance
While still being a part of the company's solution suite, GR8 Sportsbook underwent several reengineering rounds, and the team doesn't deny that the process wasn't always fun and games. The department behind GR8 Sportsbook consists of 270 professionals working across six teams. To bring the GR8 Sportsbook to life as a standalone product, they had to solve some significant technical and performance challenges.
As one of the major hurdles, the team names ensuring the platform has zero downtime deployments as the GR8 Sportsbook is used across different time zones. Additionally, the team had to integrate observability tools, documentation tools, unified approaches, and processes into the product to ensure fast detection of potential problems.
Asked about what makes GR8 Sportsbook stand out among similar solutions tech-wise, the team names several aspects.
One of them is constantly improving math prediction algorithms and risk models that help the GR8 Sportsbook to hold a higher margin from month to month than the average at a particular market. Another aspect is the platform's extensibility. The clients can extend the existing API and integrate new features into the sportsbook, bringing their ideas to life. GR8 Tech also provides customization and configuration tools that enable crafting a unique proposition for different markets and quickly adapting to new industry requirements.
GR8 Tech's team emphasizes the importance of modern tech stacks and scalability for any solid sportsbook platform. “To handle settlement peaks for big operators, your platform cannot be a bottleneck,” explains GR8 Tech's representative.
A truly international approach
GR8 Sportsbook team has almost 100 traders working with the company's technical department. Traders dive into the specifics of different regions and use their expertise to guarantee that the platform runs smoothly. GR8 Tech's team adds that having trading experts on the team is necessary for those who want to create and offer a high-quality sportsbook platform: “You can’t reach it if you don’t have any experts in this area.”
Regarding operating across different areas, GR8 Sportsbook is a truly international product. It offers region-specific feed management, customizable display options, regional margin optimization, and front-end designs for specific regions. The platform also supports multiple languages and currencies and allows a blend of international and local payment methods for user convenience.
Asked about plans regarding sportsbook development, the GR8 Tech team says it has a lot of ideas that need to be validated to see where they stand on the broader scope of the company's growth.
Currently, the team focuses on GR8 Sportsbook improvement so GR8 Tech's clients have the tools and metrics to operate their businesses independently. The following steps for the team include licensing the product and increasing the number of features, such as adding a bet-builder, automated decision-making processes, and user recommendations.
As said by GR8 Tech's CEO Evgen Belousov, GR8 Sportsbook is “the industry's dark horse, ready to redefine the global market.” The time-tested and polished Sportsbook is indeed a powerful tool for any entrepreneur interested in conquering the iGaming industry and running their own betting operations.
To learn more about GR8 Tech and its services, including the new standalone GR8 Sportsbook, visit the company's website.