In the third episode of the iGaming Accent podcast, host Vakhtang Mdivani dives into the world of consulting agencies – what they really do, when we should hire the consultants, and all the nuances between various licenses.
To shed light on these insights, he’s joined by Ivan Kurochkin, Partner and Head of Consulting Department at 4H Agency, who shares firsthand experiences and expert perspectives.
Ivan himself is involved in consulting “whole of my life, started from university. I started working at one of the largest international law firms in the world. I spent about five or six years there, primarily dealing with corporate stuff in the real estate department.
Around 2016 or 2017, a Canadian partner approached us with a new task involving a gambling client looking to enter the CIS markets. My colleague Ilya [Machavariani, CEO of 4H Agency] and I were genuinely fascinated by the industry’s magnitude, dynamics, and diversity. That experience ultimately paved the way for us to establish our own agency.”
In 2020, they founded their agency, which is fully dedicated to the gambling industry. Looking back, they believe it was an exceptionally good moment to start. One of the key advantages of transitioning from international law firms to running their own business was the ability to offer a broader range of services.
“Consultancy is a very multifunctional field,” he explains. “It’s not limited to just one type of service. Our agency, in particular, is quite open-minded – we assist clients with a wide range of tasks, from obtaining licenses and certifications in different parts of the world to handling more complex projects.”
Ivan acknowledges that some routine tasks, like obtaining licenses, are fairly straightforward and can often be managed by internal legal teams or smaller companies. “However, where we truly make a difference is in handling complex, multifaceted projects that demand insights from various sectors – finance, legal, management, HR.
“Consulting is something that people usually require in terms of navigating their specific needs”, he added.
With over a decade of consulting experience, Ivan emphasizes that startups often require legal support to understand the legality of their operations across various jurisdictions. “When you hire a lawyer, he’s usually closed down to the particular jurisdiction… But with us, clients gain access to knowledge from multiple countries, which is crucial for companies entering new markets.”
For instance, 4H Agency is currently handling projects related to licenses from Curacao, Anjouan, and Malta. Startups often come to consulting companies for help with flexible licensing. They need guidance on how to set up their business in different regions.
At the other end of the spectrum are mature companies, particularly publicly listed ones, that require an in-depth understanding of legal language when planning market expansion. That’s where consultancy plays a key role – providing precise insights and risk assessments for market entry. “They require a precise understanding of every word that is written in legislation because they want to understand every possible risk.”
Ivan shared his expertise on flexible licensing, explaining its necessity and how to navigate the choices. The discussion extended to the intersection of licensing and payment processes, and he unveiled the 4H Agency’s new payment aggregator initiative. He also responded to a question from a previous guest, SmartSoft’s Miranda Guliashvili, and posed one of his own for the next guest.
To gain comprehensive knowledge of consulting in iGaming, be sure to check out the full episode.
Don’t forget to subscribe to our Telegram channel!
