FSB ready to relieve “buyer’s remorse” in the US

FSB Technology (UK) LTD

FSB is ready to enter the US
market after securing significant
working capital from Toronto-based
private equity firm Clairvest this
summer.
Speaking at last month’s Betting on Sports conference, FSB CEO Dave McDowell admitted
that he was careful not to overpromise and underdeliver when the US market initially
opened last year.
However, with the support of Clairvest, he thinks that his company has put in place “the
right architecture” which allows it to “deploy different enterprise solutions across multiple
states and aggregate the data into a common central risk management team.”
He also suggested that there is plenty of “buyer’s remorse” amongst those operators who
made knee-jerk supplier choices around what was available in order to go live quickly.
“It’s blatantly obvious that the US is going to be one of the largest regulated sports betting
markets in the next five years,” added McDowell. “We need to be there, but what we’re
trying to do is leverage our contacts and relationships through Clairvest to talk to individual
casinos that don’t want a ‘me too’ solution.
“The investment from Clairvest is a fantastic endorsement of FSB, the company and the
technology we’ve put in place. What really attracted me to them was, as a private equity
company, they’ve got a lot of experience investing into bricks-and-mortar casino, so they
bring a fantastic Rolodex of contacts for us.
“They wanted to back our vision. They were actively looking for sports betting suppliers to
invest in and expose their portfolio to because they could see the rapid growth in sports
betting across the globe. So, we’ve got a very exciting investment partner that allows us to
make the transition from a white label operator to an enterprise solution supplier.”
Despite this transition, FSB told SBC News that it won’t be leaving the UK white label
market, instead choosing to implement ‘state-of-the-art systems’ for customer protection to
prevent future issues for its white-label platform.
This came in response to the UKGC review of FSB, and the termination of its relationship
with 1xBet and temporary suspension of a second site, which McDowell admitted had
somewhat soured a period of fantastic growth for a company that takes such pride in
“compliance, integrity and a commitment to regulated markets”.

First published in October 2019 in SBCAmericas magazine

For more information on white
label betting platforms, please
visit https://fsbtech.com/