Loot.Bet To Open In Potentially Lucrative Philippines Market
Filipinos can brace themselves because one of the top names in esports betting is coming to your shores sooner, rather than later.
That is because the Philippine iGaming licence-holder, HHRP Inc. has agreed terms with Generationz Gaming Entertainment, a subsidiary of the Canada-based React Gaming Group, to offer Loot.Bet’s esports wagering platform in the country.
The agreement will see Generationz operate Loot.bet within the Philippines on a revenue sharing basis with HHRP.
The deal still requires Loot.Bet to receive green light certification from Gaming Laboratories International before its esports site can be released in another new territory.
If you have read our Loot.bet review, or any of the numerous news articles on Loot.bet, then you will know that moving into new territories around the world and expanding the brand name on a global basis, was a key aim for Loot.bet moving forward.
This new deal, which means the company will be able to allow a population of over 109 million access to their esports betting site, is therefore a very important move for the company.
That was reflected in the positive comments made by the President and CEO of React Gaming, Laurent Benezra.
“We are thrilled to have HHRP as a partner for the Philippines market,” Benezra commented.
HHRP being one of only four companies holding online gaming licences in a country of more than 109 million people.
This agreement is part of our two-pronged growth strategy to expand Loot.bet’s reach into the B2C and B2B markets.
The advantage of the B2B market is that Loot.Bet’s platform will be offered to established customer bases, thus involving no customer acquisition cost on our part.
“Our partner will offer our white-label platform as its own to its customers and we will receive a portion of the revenue generated when those customers use the platform,” Benezra explained.
The great thing about this model is that we can replicate it in multiple markets and with multiple online gaming providers at minimal cost.
Balance Of Costs V Profitability
As Mr Benezra pointed out, shareholders in Generations and its parent company React Gaming Group, will be pleased that obtaining access to such a large and potentially lucrative market will come with virtually no customer acquisition costs for the company.
This can be one of the biggest drains on finances for new companies in new markets and avoiding that means taking the hit of earning only a portion of the profitability of the site makes good fiscal sense for the company.
It is also a strategy which Loot.bet are likely to employ in other countries around the world, where an established licence-holder, with a pre-established customer base, requires access to Loot.bet’s bespoke esports betting service and site.
Such deals are win-win for both parties. Loot.bet’s parent companies gain access to new markets at little cost to them, while their partners gain access to Loot.bet’s B2B software package which allows them access to one of the top esports betting sites in the world today.
Provided the deals are profitable for both parties, I’d expect Loot.bet to continue looking towards these deals to expand its brand name still further.