{"id":10083,"date":"2025-07-10T13:07:22","date_gmt":"2025-07-10T12:07:22","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=10083"},"modified":"2025-07-10T13:07:27","modified_gmt":"2025-07-10T12:07:27","slug":"the-caucasus-will-become-a-springboard-between-eastern-and-western-markets-interview","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2025\/07\/10\/the-caucasus-will-become-a-springboard-between-eastern-and-western-markets-interview\/","title":{"rendered":"The Caucasus Will Become a Springboard Between Eastern and Western Markets \u2013 Interview"},"content":{"rendered":"\n

The South Caucasus <\/strong>region of Eurasia<\/strong> has caught the attention of many multinationals, and local firm Crocobet<\/strong>, and its Chairman, Temur<\/strong> Mikeladze<\/strong>, are not surprised as to why. With opportunities seemingly on the horizon on both sides of the Caucasus, from Eastern Europe to Central Asia, the region is ideally situated for companies chasing growth across multiple markets.<\/p>\n\n\n\n

As with other established betting markets, however, the Caucasus is not immune to regulatory change and political sensitivities. Mikeladze, who will speak at the SBC Summit<\/strong> in September, talks us through regional dynamics in this interview to SBC News<\/strong>.<\/p>\n\n\n\n

\u2013 As a local leader, what dynamics of the Eurasian markets do you think are sometimes lost on international firms when entering the area?<\/strong><\/p>\n\n\n\n

\u2013 <\/strong>One of the key blind spots for international firms entering this region is underestimating the depth of local context. It\u2019s not just about translating a product – it\u2019s about translating culture. Too often, we see global companies fail to adjust their corporate culture and internal communication style to integrate with local teams. <\/p>\n\n\n\n

Decision-making hierarchies, trust-building processes, and informal communication norms vary significantly here, and if these aren\u2019t respected or understood, even the strongest product can fall flat. Success requires cultural agility, not just capital.<\/p>\n\n\n\n

\u2013 What characteristics best define the demands and behaviour of betting and gaming customers in the Caucasus markets?<\/strong><\/p>\n\n\n\n

\u2013 <\/strong>The Caucasus gaming audience is unique in its ambition – customers are dreamers, aiming for high returns. High jackpot amounts, high volatility games, and sportsbooks with large bet slips filled with multiple outcomes are what drive excitement here. <\/p>\n\n\n\n

Players want a shot at something big, and that shapes both product design and promotional strategies. Emotion, aspiration, and engagement matter more than routine.<\/p>\n\n\n\n

\u2013 For our readers unfamiliar with the country, what is your summary of the relationship between the industry and regulatory authorities in Georgia?<\/strong><\/p>\n\n\n\n

\u2013 <\/strong>What I value most about Georgia\u2019s regulatory environment is the openness to dialogue. Yes, like any regulator, they are strict – but they listen. That openness to collaboration allows the market to evolve responsibly. <\/p>\n\n\n\n

Currently, the regulator is not only setting the rules but also acting as a bridge between the Revenue Service and the industry. That bridging role is critical for developing a functional, transparent ecosystem that benefits both players and operators.<\/p>\n\n\n\n

\u2013 From what we understand, regulatory responsibility for gambling in Georgia falls across several government agencies \u2013 does this present a challenge at all for the industry?<\/strong><\/p>\n\n\n\n

\u2013 <\/strong>It has historically posed some coordination challenges, especially during times of tax increases. But the good news is – that chapter is largely closed. With tax rates now constitutionally capped and a 25-year restriction on further increases, that uncertainty is in the rear-view mirror. It\u2019s fair to say that this part of the story has a smile at the end.<\/p>\n\n\n\n

\u2013 Georgia is a relatively small market when compared with other larger European countries, but is home to many betting operators – has this created a situation of oversaturation at all?<\/strong><\/p>\n\n\n\n

\u2013 <\/strong>That\u2019s precisely what makes Georgia so unique – and sophisticated. Despite being a small market, the intense competition has pushed operators to innovate at a very high level. Georgia has produced some of the world\u2019s most unique crash games. Gamification, live CRM, and personalization strategies here operate on a different level, and much of that is due to the pressure to stand out in a crowded space.<\/p>\n\n\n\n

\u2013 With a lot of competitors to go up against in its home market, how does Crocobet stand out from the crowd in Georgia, both from a marketing and product standpoint?<\/strong><\/p>\n\n\n\n

\u2013 <\/strong>Despite competing with top-tier global brands like Betsson, Entain, and Flutter, Crocobet ranks in the top three operators in Georgia. What\u2019s our edge? Fast decision-making, smart gamification, accurate customer payback calculations, and bold sponsorship moves. But most importantly – we listen to our customers. Our team\u2019s ability to stay agile, adapt quickly, and take risks when others hesitate is what keeps us ahead.<\/p>\n\n\n\n

\u2013 The country is also being targeted by some big-budget overseas firms like Flutter. Does your local knowledge come in handy when competing with large overseas players like these?<\/strong><\/p>\n\n\n\n

\u2013 <\/strong>Absolutely. In fact, thanks to players like Flutter, Entain, and Betsson, the bar has been raised. They\u2019ve pushed the entire market – including us – to level up. But local knowledge is our secret weapon. <\/p>\n\n\n\n

We understand the emotional and behavioral patterns of our customers better, and we use that insight to build more resonant, more responsive experiences. It\u2019s leadership with local soul and global standards.<\/p>\n\n\n\n

\u2013 Georgia introduced tough new restrictions on the industry last year. What impact, if any, has the industry felt from this so far?<\/strong><\/p>\n\n\n\n

\u2013 <\/strong>The changes – particularly in taxation, age restrictions, and a complete marketing ban – were challenging. But they also made us smarter and more creative. We had to rethink visibility, customer engagement, and retention strategies. <\/p>\n\n\n\n

And look at the results: the industry is still growing. In fact, these measures have strengthened the perception of Georgia as a fully regulated, mature market – increasing the overall valuation of companies operating here.<\/p>\n\n\n\n

\u2013 Looking ahead, how do you think the development and growth of the Georgian and wider Caucasian gambling markets will progress over the coming years?<\/strong><\/p>\n\n\n\n

\u2013 <\/strong>Georgia and Armenia will eventually reach a growth plateau – that\u2019s inevitable in any mature market. But the real opportunity lies in exporting our expertise. Operators who\u2019ve honed their tools in the Caucasus will be well-positioned to enter and compete in newer markets. The knowledge we\u2019ve gained here \u2014 from risk management to gamification – is a competitive advantage we can carry beyond our borders.<\/p>\n\n\n\n

\u2013 Lastly, and thanks for speaking with us Temur, what do you think SBC Summit attendees will learn about the Caucasus, Central Asia, and Balkan betting markets?<\/strong><\/p>\n\n\n\n

\u2013 <\/strong>That every market here is a story of its own. The Caucasus is bold, Central Asia is emerging and ambitious, and the Balkans are fiercely competitive. You\u2019ll find passionate players, creative regulators, and companies doing world-class things – just often under the radar. This region isn\u2019t just a bridge between East and West. It\u2019s becoming a launchpad.<\/p>\n\n\n\n

SBC Summit<\/em><\/strong> will take place from <\/em>September 16 to 18 in Lisbon<\/em><\/strong>, at Feira Internacional de Lisboa and MEO Arena, and will bring together 30,000 industry representatives.<\/em><\/p>\n\n\n\n

Don’t forget to subscribe to our Telegram channel<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

The South Caucasus region of Eurasia has caught the attention of many multinationals, and local firm Crocobet, and its Chairman, Temur Mikeladze, are not surprised as to why. With opportunities seemingly on the horizon on both sides of the Caucasus, from Eastern Europe to Central Asia, the region is ideally situated for companies chasing growth […]<\/p>\n","protected":false},"author":7,"featured_media":10084,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,565,1,564,29],"tags":[9956,2906,1479,13310],"class_list":["post-10083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gambling","category-interview","category-news","category-slider","category-stories","tag-caucasus","tag-crocobet","tag-sbc-summit","tag-temur-mikeladze"],"yoast_head":"\nThe Caucasus Will Become a Springboard Between Eastern and Western Markets \u2013 Interview - SBC EURASIA EN<\/title>\n<meta name=\"description\" content=\"The South Caucasus region of Eurasia has caught the attention of many multinationals, and local firm Crocobet, and its Chairman, Temur Mikeladze, are not surprised as to why.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2025\/07\/10\/the-caucasus-will-become-a-springboard-between-eastern-and-western-markets-interview\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Caucasus Will Become a Springboard Between Eastern and Western Markets \u2013 Interview - 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