In the debut episode of iGaming Accent, hosted by Vakhtang Mdivani and brought to you by SBC Eurasia, Maksim Afanasev, Director at Sportradar, shared his fascinating journey into the iGaming industry, insights on emerging markets, and predictions for the future of sports betting.
Maxim’s entry into the gambling industry was anything but planned. While studying in London, a chance encounter led him into the betting business.
“Back in 2009, I was studying at City University in London. As a student, I was searching for a part-time job and ended up being a waiter. Then just one night, I was serving a person who turned out to be an area manager for Coral. I guess the person just liked the way I served and took care, and I got offered a position at the betting shop next door. I never thought of entering this industry, but it just happened, so I ended up working part-time as a cashier.
“Funny enough, back in 2010, I was interviewed for one of the Sportradar positions, didn’t get a job. But 11 years later, I finally got a job in the company. The company is great and I really enjoy working here.”
His journey into the company was somewhat unconventional. He initially joined Sportradar for a specific project, taking the lead on a joint venture while overseeing a client’s operations across three African countries: Uganda, Nigeria, and Kenya. Based in Nairobi, he spent two years living there, working closely with local teams, traveling extensively, and gaining a deep understanding of what needed to be done to build a successful business in the region.
“One of the things that I think I learned when dealing with operations in Africa is that you should not think of Africa as one big continent. It is so different depending on where you go. People are different; they speak different languages, even within one country. And if you want to win the hearts of those people by bringing your product, then you need to consider this.
“You don’t have to be arrogant and think: ‘We’re a big US or European entity – we’ll conquer.’ It doesn’t work. You need to come there, listen and try to build a solution, a product, a service that will be accepted by locals. Actually, I think this notion of building a love brand works really well in Africa. But for that, you need to be there and you need to feel it with your skin.”
In one of the most insightful moments of the episode, Maxim took a step back to reflect on the gambling industry from a macro perspective. He highlighted the sheer scale of the sector, noting that the combined market cap of 69 publicly listed gambling companies exceeds $300 billion.
“The result was something around $320 billion, which is roughly the size of a hypothetical “super gambling enterprise”. I kind of put a name on it – BetShare Hathaways, like Berkshire Hathaway. And if you think about this super enterprise, it would be about the same size as LVMH or SAP – just to give an understanding.”
But despite its size, Maxim believes there’s still massive growth potential. Regulation remains a key driver, with markets like India, Japan, and the broader Asian region poised for expansion. As we’ve seen in the U.S. and Brazil, smart legislation can unlock explosive development.
Maxim also pointed to technology as a game-changer. In his view, the industry is overdue for a shift away from the traditional app/website model and toward more seamless, ecosystem-based experiences. He sees a future where betting becomes just another service – embedded into platforms users already interact with, perhaps even tied to crypto wallets or other decentralized tools.
This and more can be found in the full podcast episode. Additionally, find out what fascinating question Maxim asked the next episode’s guest.
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