SiGMA sat down with GBC Times co-founder Maksym Novak in an in-depth interview, exploring a range of topics, including key trends, the regulatory landscape, and the growth potential of the CIS market, along with other insights on the region’s future.

As the co-founder of GBC Time, what motivated you to focus your company specifically on the CIS region within the sports, gaming, cryptocurrency, and eSports industries?

Our primary focus extends beyond the CIS region to include comprehensive coverage of news from Europe, the UK, and, to some extent, the United States. That said, the CIS market remains a strategic priority for us. This is primarily due to its pivotal role in the global growth of gaming, cryptocurrency, and esports industries. Many prominent international operators originated in the CIS region, and the local audience maintains a strong interest in tracking the latest trends and developments in these fields. By prioritizing this region, we aim to deliver valuable insights to a market that continues to shape and influence these industries globally.

What differentiates the CIS region’s gaming and sports markets from other regions globally?

The CIS region’s gaming and sports markets stand out globally due to their unique combination of cultural preferences, rapid digital adoption, and strong player engagement. Historically, this region has demonstrated a deep-rooted interest in traditional sports, particularly football and hockey, which has seamlessly transitioned into the popularity of sports betting platforms.

In gaming, the CIS region boasts a highly skilled and competitive player base, particularly in esports, with several globally recognized teams and players from this area. Moreover, the market’s openness to innovation, such as blockchain-based gaming and cryptocurrency integration, sets it apart.

Another key differentiator is the regulatory landscape, which varies significantly across CIS countries, creating challenges and opportunities for operators to tailor their strategies. Despite these complexities, the region’s relatively lower market saturation compared to Western counterparts makes it an attractive ground for growth and investment.

Who are the major players in the CIS gaming market? Are local companies dominant, or are international brands leading? Do you see more affiliates, operators, or game providers shaping the market?

In the CIS gaming market, both local companies and international brands play significant roles, with local operators gaining ground due to their understanding of regional preferences and regulatory landscapes. However, international brands also maintain a strong presence, bringing advanced technologies and global experience to the market.

As for shaping the market, affiliates, operators, and game providers all play critical roles. Affiliates drive traffic and market awareness, while operators are key to delivering engaging platforms. Game providers, particularly those offering localized content, are increasingly influential as demand for tailored gaming experiences rises. The interplay between these sectors will continue to shape the market’s growth and evolution.

Do stories focused on the CIS region resonate more with local readers, or have you noticed growing interest from international audiences?

In recent months, we have observed a growing interest in our platform from European audiences. While we position ourselves as an English-language resource, our core readership also includes professionals from the CIS region who are active in the iGaming industry and comfortable with English. This unique blend allows us to cater to a diverse audience without strictly dividing it into CIS or Western categories. Instead, we foster a global community united by a shared interest in gaming, ensuring our content resonates with both local and international readers who seek insightful and industry-relevant information.

Would you say that interest in the gaming market of the CIS region is on the rise, both regionally and internationally?

Yes, interest in the CIS region’s gaming market is undeniably on the rise, both regionally and internationally. Regionally, we see growing engagement driven by an expanding player base, increased digital adoption, and the emergence of localized platforms tailored to specific markets. Internationally, the CIS region is gaining recognition as a source of innovation and talent, particularly in eSports, software development, and blockchain technology integration.

Moreover, the region’s relatively untapped potential and evolving regulatory landscapes make it an attractive area for investors and operators looking to expand their global footprint. As the market continues to mature, we expect this dual interest to strengthen further, solidifying the CIS region’s position as a key player in the global gaming industry.

In your opinion, does the CIS region have the potential to further develop its gaming market, both online and land-based? What areas show the most promise?

Yes, the CIS region certainly has significant potential to develop its gaming market further, both online and land-based. The region is already seeing notable growth in online gaming, driven by increasing internet penetration, a young, tech-savvy population, and a burgeoning interest in digital entertainment. The rise of mobile gaming and the integration of new technologies, such as virtual reality and blockchain, presents exciting opportunities for expansion and innovation in the online sector.

In terms of land-based gaming, certain countries are beginning to invest in the development of regulated casinos and integrated resorts, aiming to boost tourism and diversify their economies. Additionally, as more governments in the region move toward gambling legalization and the introduction of local licenses, the regulatory framework will evolve to support both online and land-based markets.

The areas showing the most promise include iGaming, sports betting, and eSports, particularly as these segments align with the interests and demographics of the region. Furthermore, the increasing acceptance of cryptocurrency and blockchain-based solutions will likely play a transformative role in both markets, enabling smoother, more secure transactions and fostering innovation.

What key factors could drive growth in the CIS gaming market? Is there an untapped pool of players, new entrepreneurial talents, or rising investor interest?

Several factors could drive growth in the CIS gaming market. There is a large untapped pool of players, particularly among the region’s young, tech-savvy demographic, as internet and mobile access continue to expand. Additionally, a rise in local entrepreneurial talent is fostering innovation and creating gaming solutions tailored to the region’s needs.

Investor interest is also increasing as regulatory frameworks improve, making the market more attractive for capital infusion. These factors – growing player engagement, new entrepreneurial ventures, and rising investments – position the CIS region for significant gaming market growth shortly.

What are the biggest challenges currently facing the gaming industry in the CIS region? Do regulatory hurdles, political issues, economic constraints, or public perception pose the greatest obstacles?

Currently, the most significant challenge facing the gaming industry in the CIS region is the ongoing war in Ukraine. This conflict has disrupted operations for many operators and affiliates, as Ukraine has historically been a hub for iGaming activity. As a result, businesses have had to adapt by relocating to other jurisdictions and navigating new regulatory environments.

Additionally, several countries in the region are tightening their gambling regulations, placing a stronger emphasis on local licenses and compliance with stricter rules. These evolving regulatory landscapes, combined with geopolitical instability and economic uncertainties, create a complex operating environment. Nevertheless, these challenges also push the industry to innovate and adopt more resilient strategies for long-term sustainability.

Is the regulatory framework in the CIS region robust enough to support the growth of gaming companies? What changes or improvements do you believe could further strengthen the industry?

Across the CIS region, the regulatory framework is still in development and requires significant improvements to fully support the growth of gaming companies. While there have been strides toward establishing more structured regulations in certain countries, many markets face challenges due to fragmented or incomplete legal frameworks. These gaps often create barriers for operators and service providers seeking to enter markets legally and operate efficiently.

To strengthen the industry, a more unified and transparent approach to regulation would be beneficial. This could include clearer licensing processes, harmonized standards across jurisdictions, and a focus on combating illegal operators while fostering a fair and competitive environment for legitimate businesses. Such changes would not only enhance market stability but also attract greater investment and innovation in the region.

How do you envision the future of the gaming industry in the CIS region over the next five to ten years? Are there any emerging trends or developments you’re particularly excited about?

Over the next five to ten years, I anticipate that more countries within the CIS region will move toward the legalization of gambling and establish their own localized licensing frameworks. We are already seeing this trend take shape, with countries like Ukraine and Uzbekistan introducing regulatory models that encourage legal and transparent operations.

As this trend continues, I expect the gaming industry in the region to evolve into a more structured and regulated ecosystem. This shift will likely open up new opportunities for operators, affiliates, and service providers while enhancing consumer trust and market sustainability.

Emerging trends such as the integration of cryptocurrency, the rise of eSports betting, and the use of blockchain for transparency and security are particularly exciting. These innovations, combined with regulatory advancements, have the potential to position the CIS region as a dynamic and competitive player in the global gaming industry.

Elevate your business at SiGMA Eurasia Summit February 23-25 2025 Connect with 14000+ industry leaders hear from 400+ expert speakers and seize new opportunities in Dubai