“Staying close to your players and actively seeking feedback is key. Since purchasing customer loyalty instantly isn’t an option, you can purchase technology which lets you generate loyalty faster through continuous engagement and deep personalisation.” We met Dobromir Mitev, CEO & Founder of Dench eGaming Solutions for an interview about the company and his advice for young entrepreneurs.
Hello Dobromir, hope you are keeping well in this festive season?
Great Marius, thanks for the opportunity to introduce Dench to your audience. We are entering the summer season, which is actually great for active networking with the iGaming Super Show ahead of us. On the other hand, the summer period will let us purely focus on the delivery of the deals we have closed in the first half of the year.
How did you come to enter the online gaming space and set up your company?
It is a long and exciting story when I look back, it took me 10 years. In 2006 I got introduced to online poker and precisely to Texas Hold’em. The game grabbed me but pretty fast I realized being a pro player is not my thing. I began building affiliate sites, providing players with a truly transparent online space. Transparency was missing back in the days. In the following two years, I learned a bunch of we related things and was trying to help a number of online poker rooms localize and penetrate Eastern Europe. 1st of March 2008 I woke up and knew I wanted to start a poker magazine. From that day since a few months after the poker Black Friday in 2011, I had the pleasure to produce, edit and publish Card Player Magazine across four regions – Bulgaria, Romania, Greece and Hungary.
Through those years I was consulting various online companies, mainly poker focused, joined Sportingbet in order to help them boost their poker revenue and eventually took over the Casino product, marketing and brand advertising. As it seems that was not enough for me and made me organize some of the biggest international poker tournaments in Bulgaria and Eastern Europe at that time.
All that helped me to move to the operators’ side, striking a couple of significant partnerships with leading gaming brands listed on the stock market. Eventually the change in the Bulgarian gambling regulation unfortunately forced me to terminate these relationships.
I continued to collaborate with different brands, operating in various regions until a stage when I kind of felt ready to bring my own vision on the products and technology I would like to see and use if I were running my own brand. This is how Dench was born – with the ambition to bring more flexibility and let gaming people launch brands with a platform, which actually does the job and respond adequately to the market reality.
Can you tell us a little about how your company is structured?
Dench eGaming Solutions is a true B2B turnkey gaming platform provider based in Sofia with highly skilled and experienced development people along with the founders who have been in the industry since the times when online gaming brand Gamebookers went live back in 1999. I am very proud we have managed to compile a team, which perfectly understand what we are aiming for and managed to translate all business requirements into a technology, which resonates entirely with the current needs of the operators.
In business terms, we are offering turnkey and white label solutions as well as Giselle V2 as a standalone product available for integration with any platform.
How do you think technology is driving business forward? What are the little secrets that help Denchsolutions.com in innovating yet again?
As the industry matures, operators realize the technology, which they choose, will ultimately define the success of their operation. In the last years, we are seeing more niche and dedicated to the iGaming industry products appear, which aim to provide wider game offering, operation management; help with data analytics, visualizations, player segmentation, engagement, gamification and so on. That’s definitely driving the industry forward. However, still many operators are using legacy technologies and the integrations with new technologies remain a painful topic.
We are trying to isolate as much as possible the reliance on third party providers and services and bring all pieces of the puzzle together to deliver a new generation, fully integrated platform able to reduce operational costs and allow significant improvement in user experience.
Removing the need to integrate a number of different 3rd party services, we allow operators to have more efficient operation in terms of costs, as having a number of 3rd parties and the people to operate them squeeze the margins significantly.
Another huge benefit lies in the ability of Dench platform to capture, process and aggregate data in real time and translate obvious behavioural patterns into actionable insights. Certain functionalities are designed with agility in mind, so they are easily scalable and represent and opportunity to bridge the gap between the core daily operational activities and the days for creativity. We provide operators with the instruments to deep dive in players’ data, look for interesting patterns and experiment and design new players’ experiences. The limitless bonus definitions and the eventful campaign scenarios allow the operators to get outside of the boundaries of the traditional retention strategies and automate the most relevant incentives and communication along the customer journey.
What sort of gaming-specific technology services do Denchsolutions.com offer online gaming firms?
Since the start of the project, through the architecture and the actual development of Dench Core and Giselle V.2 we have always tried to design processes and features in a simple and practical way. We have been dealing with operations for quite a long time and all of the functionalities we have designed aim to address areas which have been overlooked for a very long time such as lack of diverse bonus and campaign offerings, customer retention, churn and operational transparency. All of these seem to be very problematic and with extreme potential to improve revenues.
We have built the Dench Core in order to provide more intuitive user management, deeply integrated sports betting and casino verticals, advanced BI instruments delivering full operational transparency and advanced analytics, well-structured payment service, while considering all the regulatory requirements towards KYC and responsible gaming.
As a separate solution, we have developed Giselle V2, product that is capturing and structuring customer data in real time, providing operators with advanced player analytics, activity and value segmentation, event driven bonus automation scenarios as well as in house developed communication tools deeply embedded in the campaign process.
The unique combination between Dench Core & Giselle V.2 on one hand simplifies basic day-to-day operational processes and on the other hand sophisticates the way operators interact, entertain and reward their players. The revolutionary way we handle customer data and translate it in actionable insights creates the perfect environment for marketing teams to anticipate, encourage and most importantly design the depositing and playing habits of clients.
What makes Denchsolutions.com unique? What do you have that will make you succeed that some of the other companies maybe don’t have?
Through our complete set of products, you can run your brand as” one man show” up to certain size. That’s kind of a joke around our office, even though it is actually possible from an operational point of view.
Seriously, now, we believe that the current market reality represents a unique opportunity for agile, breaking barriers, hands on companies, which is ready to listen to operators’ demands.
We deliver products, which are built from operators’ perspective, not from development perspective and are being delivered fast, very fast.
Lastly, we have built our features in the context of AI and AI automation and we continue to do so. This means that once the time is right we will have the amazing opportunity to offer automation which is not driven from numbers only, but driven at its large portion by the individual player.
For now, finding the right ways to solve today problems is our biggest advantage.
Are there any other exciting plans in the works that you can tell us about?
I let something go out in the previous question in that respect. We are working on improving our current products based on operators’ feedback while working towards introduction of AI across a number of processes. Aside, there is HANNAH, the third product in our family which will be, in my humble opinion – ground breaking; at least for the players.
We are envisaging that by 2020, online gaming operators will be choosing their platform not by the number of current product integrations, however by the way AI has been accommodated in the main services and helps them cultivate long lasting relationships.
What is the main thing that you’d like SiGMA readers to know about your business?
In 2017 loyalty in the gambling industry is fleeting and it has never been harder to acquire retain and engage with players. Operators have tons of player data, which collected and structured wisely can give you commercial attributes to build a detailed profile. As you start to understand your players better you can figure out what they like and what they don’t and start using this data to improve loyalty and grow your business exponentially.
You can adapt how you approach them by optimizing your bonus campaigns and make their journeys more relevant. Users respond better when they see something that they are interested in and are more willing to communicate when they are approached in the most relevant time.
Staying close to your players and actively seeking feedback is key. Since purchasing customer loyalty instantly isn’t an option, you can purchase technology which lets you generate loyalty faster through continuous engagement and deep personalisation.
What two pieces of advice would you give to any entrepreneur starting today?
You will fail a number of times or you might get lucky and become billionaire from the first time, who knows. No matter what, don’t you ever give up and don’t get frustrated by all the news, buzz and everything which happens publicly in your sector. In most cases it is what it is – PR stunts and wasteful buzz. Noise which will steer you away from your goals.
Never go blindly and invest all your money in your project, no matter how small or big it is. Especially if you are the only one putting cash on the table. This hurts tremendously when you fail and this might eventually happen.
Nothing happens easily and you need to put all the hard work to stand a chance. By hard consider everything above the 12-hour mark daily. When you work hard you might start getting delusional. Constant reality checks will keep you down to earth and make your life easier.
One last one, if you are open, honest and modest person keep it that way. If you change in the sake of succeeding one day you will realize that all the tricks and things you have done was worthless. The end goal is not that important, but the journey to reach it will be the thing to look back.
Do you play slots and what would you do with 1 million Euro from jackpot winnings?
Well, indeed I do play slots and probably every other game I come across. With a million euros I would do one of two things. Either secure education and life experiences for young kids or I will start over from the scratch if I don’t have an exciting project. Ideally, making sure I can go back and do what I mentioned first.
Are you ready for SiGMA17?
We are planning a trip for SIGMA for sure. For the last couple of years, the event proved to be a one not to be missed on the iGaming calendar as it provides a great opportunity for networking in very vibrant atmosphere. I really like that all kind of gaming companies are welcomed which inevitably creates a playground with people with very diverse background bringing new and exciting ideas.
|Relive the highlights from our last show and stay tuned for this year’s SiGMA. Watch out for what we’re branding as the ‘iGaming Village’ this year.||Are you an operator looking for top affiliates? Are you a top affiliate looking for a nice treat with like-minded affiliates playing at the same level?|