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RegTech sector grows in importance as the BetTech visual showcases major growth in fraud, ID verification and analytics

Spotlight Sports Group’s third annual deep dive into the global betting industry identifies 375 companies from start-ups to global enterprises with a presence in one legal market or every legal market

Spotlight Sports Group (SSG), a global technology, content and media company specializing in sports betting and fantasy sports, has produced a comprehensive report on the state of play in the global sports betting sector. The third annual edition of BetTech Ecosystem 2023 provides the sports betting and iGaming industries with a deeper understanding of regulated betting markets.

The BetTech visual showcases six sections – content, data, platform providers, e-commerce, iGaming and trading  – there are 80 new entrants in 2023 and a total growth of 17% YoY. Here are some of the headlines points from the report:

* Content is still the driving force of the BetTech Ecosystem. Actionable sports betting content and insights drive users into and through the betting funnel.

* The growing importance of business analytics and analytical insights to the industry is showcased by the large increase of suppliers in this sub-section

* The trend for operators owning their own platform has shifted towards using third-party experts

* Fraud and ID verification services are becoming hugely important to the betting sector

* The importance of RegTech, with the increased regulations coming to the UK, is driving growth in this subsection with an expectation of major consolidation to come.

The BetTech visual showcases six sections – content, data, platform providers, e-commerce, iGaming and trading  – there are 80 new entrants in 2023, giving the ecosystem growth of 17% YoY.

To add to the report’s findings, Spotlight Sports Group US Managing Director Harry von Behr recently spoke with Wayne Kimmel (Managing Partner, 76 Capital), Robin Chhabra (Chief Executive Officer, Tekkorp Capital) and Eric Frank (Chief Executive Officer, Odds On Compliance) on a webinar – The State of Play in Sports Betting and iGaming Globally.

Chhabra highlighted the importance of Reg Tech and predicted changes to come in this section of the BetTech Ecosystem over the next few years. “In RegTech, you’ll see suppliers within this subsection coming together to make a one-stop shop. Compliance, identity, affordability, AML – will all come together and that will provide value to the operators.”

Discussing the third edition of the BetTech Ecosystem Report, Spotlight Sports Group US Managing Director Harry von Behr said: “The BetTech Ecosystem Report has become an essential project not only for us at SSG but the industry as a whole. It is the only report of its kind that takes a deep look at the whole industry while also acknowledging the companies that help make the industry what it is. We’re proud of the praise the first two editions of the report received and we look forward to sharing this year’s expanded version.”

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