Straight Out The Gate: EveryMatrix Goes Racing
Nine months after acquiring FSB Technology, EveryMatrix has launched its fully managed in-house developed horse racing product. Russell Colvin, Commercial Director UK, and Mark Wilson, Head of Trading, walk through the enhancements made to the new solution.
FSB was known for its upstanding presence in the UK and Ireland, especially around its racing product. How was the solution built?
Russell Colvin, Commercial Director UK: The key to its success was in the development process FSB’s developers collaborated with traders and horse racing enthusiasts. This meant the product was built from a trader’s perspective and, from a front-end and UX point of view, a punters perspective.
Mark Wilson, Head of Trading: I joined FSB 11 years ago back when the business entered the B2B market with a background as Head of Horse Racing at Blue Square. The partners we signed in the early days were horse racing focused so it was vital we got the product right. Being able to work with the development team to build the pricing models and prediction analysis meant everything came together and it worked.
Was it the most successful in the UK?
Mark: Arguably from a B2B sense. Everything was built in-house, and it was all proprietary tech.
So why start afresh?
Mark: Firstly, because EveryMatrix has a fantastic sportsbook. There are tools within the sportsbook that are unmatched, and FSB’s sportsbook didn’t have that range. Secondly, because of the user experience. It’s important to use the same technology, code and environment as the sportsbook platform.
As soon as you have an iFramed end-product you start damaging the user experience – in some cases you can’t combine a football bet with a horse racing bet, or you can’t apply the same bonuses across all sports products. It was important for EveryMatrix to build something that’s harmonious and works.
What areas are being strengthened?
Russell: From an end user perspective what we’ve built is effectively what we had at FSB which is an extremely competitive B2B product. I think a lot of the improvements at this stage are the tools within the back end of the OddsMatrix solution.
How involved have FSB’s clients been in the development process?
Russell: We’ve been in close collaboration. One of the most important things post-acquisition was that FSB partners were onboard. It would have been very easy for them to walk away so we had to make sure they were heavily involved in the process at each stage of development. Each operator has a staging site they can visit and play around with each time we iterate something. Client feedback has been very important to us.
What’s been the feedback?
Russell: The most important consideration for clients is ensuring the product is up to the level of FSB’s so there is continuity for existing customers. FSB’s was very highly regarded and whilst there will be enhancements, the customer wants to retain the FSB quality.
Mark: They will now be getting so much more with other sports such as the bet builder offering. Initially, clients were happy just to get the racing product we had but with the extra resources of EveryMatrix we can add more features that they didn’t ask for, but we think will be popular.
Russell: It’s no surprise we’re looking at additional things like bet builders, in-play, extra place races, call betting. An operator may decide to offer up to five places in a particular race as an acquisition driver or enhanced offer. The new solution will make it simple for them to offer this themselves which isn’t common within a fully managed trading solution.
Have all the staff stayed on from FSB?
Russell: As with every acquisition there is a doubling up of teams and departments. EveryMatrix took a very considered approach post-acquisition and quite rightly wanted to retain anyone with knowledge and experience in the UK market and horse racing specifically. The number of staff EveryMatrix retained grew as time went on as the FSB dev team showed their capabilities.
What’s motivated the two of you to stay on? Why not go and do something new?
Mark: For me it’s the challenge. I’ve been heavily involved in the building of the horse racing product from concept to design. When I first spoke to EveryMatrix and heard of their commitment to horse racing and taking the product to the next level, it wasn’t a challenge I could turn down. It’s exactly what I’d like to do.
Russell: Personally, the acquisition came at a good time. The size and scale of EveryMatrix affords it the ability to develop new product. The fact the business has such a good offering and has the capacity to invest in additional products was a motivation to stay on and make a go of it. Being in sales it’s important to believe in the product you’re selling otherwise you won’t convince anyone.
Having spent time with EveryMatrix in Romania, seeing the product and meeting the people, it was a no-brainer to stay.
