Betby and Magnus Carlsen on their winning moves
The bustling exhibition stands at ICE Barcelona 2025 were abuzz with excitement as Betby, a leading sportsbook solutions provider, and their prestigious ambassador, Magnus Carlsen, the five-time World Chess Champion, and the five-time World Rapid Chess Champion, addressed an expectant gathering of iGaming professionals.
Known for his unparalleled skill and strategic prowess, Carlsen’s partnership with Betby promises to bring a fresh perspective to the iGaming industry.
A year of triumphs for Betby
Chris Nikolopoulos, CCO of Betby, reflected on the company’s achievements in 2024. “2024 has been super great for us. We managed to increase our business in many categories. We entered new markets. Nowadays, it’s a lot of work to enter a new market in gaming.
“You need to comply with many regulations, and that’s generally a path we want to take. We managed to do that, especially in the Brazilian market, where we comply with the requirements on both a federal and digital level.
“At the same time, during the year, we’ve had a lot of new major partnerships with big clients from the industry. We have a lot of tools. As a software company, that’s our main focus. We built software, so it’s been great for us.
“We are expanding our team at the same time. We are doing good to the extent that we are now at a level where we can hire the best professionals with a good mixture of young talents and experienced people from the industry. And that is great. We keep looking forward with a bright eye to the future.”
Nikolopoulos highlighted Betby’s expansion and the integration of AI technologies. “Look, AI is something everyone is talking about in gaming. I think there are many ways to utilise AI in our industry. In our case, we use it a lot when it comes to risk management. We use AI for profiling users. That helps us be faster, more automated, and more accurate in our operations, risk management, and trading operations.
“We also use AI to produce feeds and data about sports and anything anyone wants, so we can greatly customise our offering. And, as I said, the more we automate it, the better it becomes, the more complete product we have. It’s not only about rating and risk management tools.
“We have built and recently released a Netflix-style memory, so every single sportsbook user has personalised recommendations about the events. We want to increase the conversion and the lifetime value of the player. Of course, we need to give them the content they want to play, so we work on that a lot and have a lot of recommendations and betting tips on a player level. AI is helping Betby with all that.”
From chessboard to sportsbook
Carlsen recently made headlines for withdrawing from the 2024 World Rapid Chess Championship over a dress code dispute and shared his thoughts on the collaboration.
“Yeah, it’s been a fun process, for sure. We first came in contact about a year ago. From the start, my father and I have been able to learn a lot about Betby. This has been very interesting, specifically the sportsbooks and how you can develop them. What Chris said about using AI to build innovative new experiences is very interesting. We had a great photo shoot with a really fun video last fall in Riga.
“Hopefully, I can continue to be a part of Betby’s journey because it’s been a very exciting last couple of years.”
When asked about the recent dress code incident, Carlsen explained, “I would say, in general, I don’t regret my words. I regret that they were more directed to specific people maybe than an organisation as a whole. Chess has generally been going in a good direction with more visibility and professionalism. But we still have a long way to go for sure. Carlsen spoke to SiGMA about the rapid growth of chess, driven by integrating technology that provides faster and more accessible information.
“I did not intend by any means to be a ‘jeans guy’ or anything. I sometimes wear jeans to tournaments, and breaking this particular dress code was 100 percent an honest mistake. This is why I thought there was no discussion there.
“I just generally vehemently disagreed with the degree of punishment for a very minor infraction. But now I guess it’s become a thing, so I just ride with it.”
The thrill of the game
Carlsen, a known sports enthusiast, drew parallels between chess and gambling. “I enjoy poker a lot, which is a little bit of a hybrid because there is information, but it’s not perfect, and there’s some chance. Same with sports betting, I find it really fascinating. But probably not so much as a serious player trying to beat the system.
“Like most people, I want to have a little extra on a certain football game, a basketball game, or whatever I’m watching. So yeah, I enjoy the element of gambling, but as a chess player, it’s very hard for me to enjoy it if there’s no skill involved whatsoever. But I think in that sense we’re fairly aligned.”
Nikolopoulos mischievously added, “Look, jeans or not jeans, Magnus is a grandmaster! He epitomises mastering what he does, and I think, as a brand, it was a natural match for Betby. We share a lot of the same qualities and values with Magnus. We try to focus on things that matter and want to do something different. Instead of working with some retired player from some sport, we wanted to showcase some gold.”
Addressing cheating in chess
Carlsen then touched on the issue of cheating in chess, comparing it to the challenges faced in online poker.
“I think it’s very hard to say how big of a problem it is right now. It would be very naïve to believe that even top-level chess is free of cheating at the very highest level. It’s probably easy enough to cheat and so hard to be caught. Chess, for a long time, has been largely based on trust. A SiGMA News article in November looked at the ban on Chinese chess player Wang Tiyani. His career hit checkmate when, alongside Wang Yuefei, another grandmaster, Tiyani received a lifetime ban from the Chinese Xiangqi Association.
“I still largely trust my colleagues, but we spoke earlier about AI glasses. We’re already banning all sorts of electronic devices, watches, and pens, but soon, we will probably have to examine people’s glasses. We already examine people’s ears. You cannot check for everything. What we’re trying to do is a bit like airport security. It won’t pick up everything, but it will give people more security when they play. Hopefully, this acts as a slight deterrent. But as with other technologies, it’s certainly a very scary time.”
Making chess accessible
Despite the intense nature of chess, Carlsen remains optimistic about its accessibility. “I think there are a few things you can do. We’ve seen in Norway that, with the help of engine evaluations, an accessible studio with good commentary where no question is too stupid, everyone will feel more involved. I think we’ve shown that we can bring chess to the masses. We’re also working on developing more of a casual live score. We’ve developed an app, Take2Take, where you can follow more as a live score, not as intently as many chess broadcasts. Of course, chess has challenges, but I think we’ve seen that it is possible. So, I’m very optimistic about the future of chess.”
Exclusive insights with SiGMA News
In an exclusive discussion with SiGMA News, Carlsen shared his thoughts on risk in the gambling industry. “I think when I play chess, I constantly make decisions about how aggressive I should be and how much risk I should take. It depends on the situation and the opponent as well.
“So you have that factor. In other areas, including gambling, you make risk-based decisions based on the situations you’re in. You constantly have to reassess that. But you don’t necessarily have an opponent trying to make things more difficult for you. I have learned from poker, fantasy sports, and sports betting that I am more comfortable now in chess than before, sometimes randomising decisions, taking risks, and living with the consequences. Believing in the decisions you make rather than always focusing on the outcome is important. Sometimes you agonise over minute decisions, and learning to have a more balanced approach is quite useful.”
A recent SiGMA News exclusive interview with backgammon grandmaster Jason Pack explores ‘the art of risk’ and how backgammon’s strategies can improve players’ enjoyment and results, and additionally shaping the iGaming industry’s approach to player engagement, market trends, and technological innovation.
When asked about his success, Carlsen attributed it to his passion for the game. “My success in chess is very hard to pinpoint exactly. Compared to many others who have spent a lot of time and been very passionate, chess has been my thing from a very early age. Nobody pushed me. I’ve gone my own way, carved out my own path, and that’s been very important to me.”
Carlson continued, “I can say for sure that I’ve had a lot of well-meaning advice that I haven’t listened to and that maybe would not have served me well. My philosophy in chess has always been about the joy of the game, and that’s led me this far. Every decision I’ve made has been about trying to maximise fun and enjoyment in the game. I think that’s one of the reasons why I’m still here.”
As Betby and Carlsen celebrate this exciting partnership, the iGaming industry eagerly awaits the innovative solutions and fresh perspectives their continued association will bring. With Carlsen’s strategic mind and Betby’s cutting-edge technology, the future looks bright for chess and iGaming enthusiasts.
