In the fast-paced world of iGaming and betting, change is the only constant. As technology evolves and regulations shift, companies in this space must be agile, innovative, and forward-thinking to stay ahead. Our success at RISK is built on our ability to navigate this dynamic landscape with bold moves and smart strategies. But what's the secret behind our agility and innovation?
To gain insight into the challenges and potential of this ever-changing landscape, we sat down with Perman Ishankulyiev, Head of Project at RISK. With his finger on the pulse of the industry and a track record of successful leadership, Perman offers a unique perspective on the future of iGaming and the role RISK is playing in shaping it.
Perman, you're at the helm of one of the most dynamic projects in the company. What qualities do you think helped you reach this position, and what skills have you developed since taking on this role?
Perman: That's a great question to start with. I believe three key qualities helped me get here: ambition, dedication, and a deep understanding of the entertainment sphere.
First, ambition. At RISK, we have a big appetite for success. We're not shy about expressing what we need or want to achieve. This ambition drives us to constantly push boundaries and seek new opportunities.
Second, dedication.I like everyone else in our team, pour a huge part of myself into the project. This level of commitment gives you an intimate understanding of the nuances and peculiarities of the business, which is crucial for scaling it effectively.
Third, a thorough understanding of the gambling sphere is a must.
And extra point is equally importance of soft skills. It’s about the ability to communicate your position effectively, sometimes gently, sometimes more assertively, but never rudely.
As for skills I've developed in this role, I'd highlight three main areas:
Leadership skills have been crucial. I lead a large team of mature, serious professionals, and I've had to learn how to focus the team on what needs to be done. This involves understanding the psychology and work attitude of each individual employee. As a leader, I need to ensure open and sincere communication within the team.
Strategic vision for team development is another skill I've honed. When you're in a higher position, you need to see wider and further. It's about knowing how to allocate resources effectively. A key indicator for me is whether the team is getting stronger and our capacity is increasing.
Lastly, I've developed a better understanding of cross-functional collaboration. I need to ensure seamless connection between other teams and my project, identifying touch points and potential issues.
That's quite a comprehensive set of skills. In your opinion, what quality is absolutely essential to become successful at RISK?
Perman: I believe the most crucial quality is passion for what you do. You need to be somewhat obsessed with your field and your work. It shouldn't feel like a job or just an occupation – it should be your life. Your tasks shouldn't just be about earning a bonus; you need to be genuinely invested in what you're doing. This quality is relevant everywhere, no matter what you do.
That's an interesting perspective. But when work becomes life, where does work-life balance fit in? How do you protect yourself from burnout?
Perman: That's a valid concern. For me, physical activity is crucial. We spend most of our time sitting, so I make sure to engage in sports regularly. There are many parallels between work and sports – discipline and motivation lead to results in both. Quality results are often a delayed effect. In work, we might not see big results daily, but over time, we can see how much we've grown.
I also believe in the importance of travel, or at least spending time outside of home. As a dog owner, I'm compelled to take walks, even when I don't always feel like it. A minimum of 2-3 km daily helps clear my mind.
Lastly, socializing with friends and colleagues on non-work topics is essential for maintaining balance.
Let's talk about team building. You have a team of mature, serious professionals. How do you maintain a positive team climate?
Perman: One-on-one meetings are crucial. They help me understand each employee's mood and show that I'm interested in them as individuals, not just as employees. This leads to more cohesive teamwork.
Team building activities, while not frequent, are incredibly valuable. They're a great way to understand each other better and reveal different facets of our personalities.
You have a team of 20 people, with new members joining. Is your ability to understand people and help them organically unfold over time a result of experience or specific testing techniques?
Perman: I'd say it's a combination of both. Taking my -1 and -2 level team members as an example, I believe that soft skills really come to the fore in online communication. It's important to discuss topics beyond work because if every interaction is just 30 minutes of work-related questions, it can quickly lead to employee burnout and demotivation.
I make a conscious effort to engage in conversations about non-work topics. This helps build rapport and gives me insights into each team member's personality and working style. Over time, this approach allows me to better understand how to motivate and support each individual.
Let's discuss your recent project shift. What lessons have you taken from this experience that can be scaled for future expansions?
Perman: This is where I'll delve into some of our industry-specific terms. Expansion is more about analytics, analysis, and, surprisingly, intuition. There are three fundamental factors for development in iGaming:
First, you need to have a solid product - its convenience, throughput, and entertainment value. Second, you need traffic - you must be confident that you can attract people through various sources. And third, you need effective billing systems.
These are the three pillars, but even if all the numbers align, there's no guarantee that everything will go as planned. You need to understand the potential and recognize that it will be a challenge for your team.
One key lesson I've learned is the importance of flexibility. In the iGaming/betting industry, things can change rapidly, and we need to be prepared to pivot quickly. This recent project shift taught us the value of agility and the importance of having a team that can adapt to new circumstances swiftly.
What's currently happening in the iGaming/betting market? How do you see the situation in broad strokes?
Perman: It's evident that the iGaming/betting business is developing at a breakneck pace. Curacao, for instance, can't keep up with issuing licenses. At the same time, new licensing bodies are gaining strength. In the future, we won't have just two fundamental licenses in iGaming/betting, which also characterizes the industry as actively developing.
The competitive environment is intensifying, and we must offer what no one else does. To remain competitive, we must constantly adapt, innovate and do things differently. This is what RISK does on a daily basis, and it is what keeps us at the forefront of the industry. Adaptability and speed have been the foundation of our company since its inception. I would say that we are the embodiment of our constantly evolving field.
At the same time the number of operators is growing, and consequently, so is the number of affiliates. As a result, regional governments are strengthening regulations.
How do you see new technologies impacting the industry in the next few years?
Perman: AI is already being implemented and changing the industry. For example, robotic operators are becoming incredibly authentic - they can communicate with you, clearing their throat, pausing, changing intonation. Even I would find it hard to distinguish them from human operators.
The internet is becoming faster and more accessible, and now we need to compete on website loading speed - maximum 3 seconds. People aren't willing to wait, and we need to capitalize on that operational trigger for potential users.
Another significant technological impact is in the area of data analytics. We're now able to process and analyze vast amounts of data in real-time, allowing us to make more informed decisions and offer more personalized experiences to our users.
Blockchain technology is also making waves in our industry. It offers increased transparency and security, which are crucial in building trust with our users.
Where do you see RISK in two years?
Perman: I've spent my entire conscious career at RISK, since its very foundation. In two years, I envision us having over 2000 employees. We'll be listed on the stock exchange, and people will be able to trade our shares.
But beyond the numbers, I see RISK continuing to be at the forefront of innovation in the iGaming industry. Just as we are doing now, we will continue to set trends rather than follow them, pushing the boundaries of what's possible in our field and reaching an even broader audience.
To wrap up, can you complete this sentence: "RISK is..."
Perman: RISK is family! This family mentality means that we celebrate each other's successes and support each other through challenges.
But more than that, RISK is a dynamic force shaping the future of iGaming. We're bold risk-takers who aren't afraid to challenge the status quo. We foster an environment of trust, mutual support, and shared goals. We're innovators who are constantly looking for new ways to enhance the user experience and push the boundaries of what's possible in our industry.
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