Instant payouts give Maltco outlets an important competitive edge over online sites, according to marketing manager Caroline Attard.
U*Bet has evolved considerably since it was launched in 2004. At the time, it was a completely new concept for the Maltese, allowing them to play skill-based games centred on a number of sports disciplines.
The four-page insert in Times of Malta was doubled in size last September, adding information about the dozen or so disciplines now included, with basketball the latest addition and new horse-racing events from South Africa, Dubai, Mauritius, Kenya, New Zealand and Singapore being added next year.
“The scope of what we offer is amazing. Our system supports 5,000 events and 800 betting outcomes on each event,” she said.
The print insert complements the website, which gives real-time odds as well as a winnings calculator – but does not offer online gaming. The strategy is to get people into the outlets to actually place their bets – and not just because Maltco’s licence does not cover online betting.
“There are a number of advantages. For example, you don’t have to register as you would online, which means you remain anonymous, and if you do win, then the payout is immediate and in cash,” she said.
CEO John Katakis said having punters go to outlets rather than just playing online is effective because it ensured that there was an entertainment and skill-based aspect – rather than just betting.
“In the outlet, you get a global view of sporting events across the world, in a social environment. It becomes a lot more interesting and they get much more involved,” he said.
Gaming companies are under considerable pressure to ensure that what they offer as entertainment does not turn into addiction
“The most important aspect of what U*Bet does remains its entertainment value. Skill-based gaming relies on following dozens of matches, delving down through reams of statistics, from the number of penalties to the number of red cards. People enjoy doing the research and working out the expected outcomes rather than just guessing,” Ms Attard added.
Maltco believes that these benefits are enough to keep punters coming in – well aware that they have to keep competitive when it comes to the odds, in spite of the fact that online betting companies pay only 0.5 per cent tax, while they pay 25 per cent on net income, as well as commission to agents.
“Our odds can sometimes be a bit lower than those on online sites but we monitor them carefully to ensure that the spread is not too wide. Thankfully, we are able to do so because we have such a good risk management system,” she said.
Another edge is that the maximum payout is not capped; in 2011, one punter won €360,000 with a €1 bet placed on score outcomes.
Gaming companies have to ensure that they are not lured by short-term gains which could undermine their long-term strategies. For example, they are under considerable pressure to ensure that what they offer as entertainment does not turn into addiction. Maltco ensures that all its adverts adhere to its parent company’s values, and it trains both its own employees and its agents. They also invite punters to fill out feedback forms to ensure that they are getting things right.
Maltco is also involved in the campaign being run by European Lotteries next year against match-fixing. It plans to organise a conference here for local stakeholders.
Its ever-expanding services have also had another positive – albeit indirect – impact.
“The availability of clear odds and properly regulated games has had a huge impact on illegal gambling as players became more and more aware that it was simply not worth the risk. We haven’t killed it completely but we have definitely reduced it,” Mr Katakis said.