Leading iGaming tech company RETAbet is specialised in sports betting with more than 15 years of experience, which integrally develops its own betting platform. One of the leading retail companies, with an extensive sales network of 2.300+ points throughout Spain and Perú through self-service terminals in its own shops, corners in lounges, bingo halls, casinos and hospitality establishments.
Also, it is one of the companies with the greatest projection and growth in the online channel (web, mobile and app), with www.retabet.es and www.retabet.pe as its 2 main markets. Gamblerspost sat with RETAbet’s CEO and discussed the company’s progress and their vision for the future
– Unfortunately, we can’t avoid talking about the COVID-19 pandemic impact on every industry and especially sports betting. How did this affect your business plans?
Xabier: RETAbet has taken a profitable growth approach since we started operations so our financial situation is solid. Luckily we can proudly say we are not
going to close a single point of sale in retail. Regarding our business plan, it has been a 3 month period with no sales so it Will affect the 2020 P&L but we are recovering fast with the sports activity coming back. I think we are going to be a winner in market share as some other companies were not in a good financial situation and it will affect them importantly.
In any case, our biggest challenge isn’t Covid-19. It is to grow profitably fighting with a large number of competitors.
– Every era has its own wind of change. What do you feel is changing during those past couple of years in the iGaming market? Is there anything that got your attention these days?
Xabier: Consolidation is going to be a big issue in the next 5 years. Having a good product is expensive and we will see lots of M&A (Mergers and Acquisitions). We are in a good situation as we have proprietary betting software and our own SSBT. We are proud of being the most profitable Spanish betting company in the market.
What sets us apart from the competition is having its own proprietary technology. Betting platform and SSBTs. It has been very important to achieve the top position in Spain in terms of profitability. It is also being a very important asset when entering Perú.
– What are your plans for 2020 and beyond?
Xabier: In 2020 we are going to focus on gaining market share in Spain in retail and online while having our Peruvian operation in the top podium spot as well.
Sports betting is being legalized in lots of markets. There are still lots of places to grow. The important thing is growing without risking what you already have. We are going to focus on profitable growth. Spain and Latin America are our “natural” markets to grow.
– In your… crystal magic ball, what future do you see for the iGaming business and for your business?
Xabier: iGaming has a marvellous future. Regulation is going to be an opportunity, but at the same time a challenge. Regarding our business, I see our future as a profitable and very professional company with a very good team. We will do our best to find our place in different markets. No space for crystal magic ball, but lots of space for hard work!Follow us on