CopyBet is one of the UK’s most unique and innovative sportsbooks. Established in 2016 by and for sports betting fans, the platform features an automated copy betting system that lets players automatically match the wagers of successful users, known as “Tipsters”.

“We’ve always been thrilled by the idea of creating a place where users shouldn't waste their time on football forecasts or match predictions,” says Anton Ivanov, Business Development Director at CopyBet UK. “A place where professional sports Tipsters could share their successful strategies with other bettors.”

We bumped into Anton at ICE where he agreed to a quick 'ask me anything' about open banking and CopyBet's goals for the future. Watch below.

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When we were researching payment solutions, every source we consulted confirmed that TrueLayer is among the best open banking payment networks in Europe.

Anton Ivanov, Business Development Director

Through CopyBet’s Betting Tips programme, players can also harness professional insights from across the football and horse-racing worlds. Legendary Newcastle United and Republic of Ireland goalkeeper Shay Given and up-and-coming jockey Jonathan Burke are just two of the experts providing predictions for CopyBet users.

“Our partnerships with ambassadors like Shay and Jonathan aren’t just endorsements,” says Anton. “They’re a union of passionate sports enthusiasts aiming to bring the excitement of major sports to a new arena.”

The challenge

Before CopyBet partnered with TrueLayer, players had to use cards to fund their bets and collect their winnings. This presented several challenges common to operators across the industry.

Since iGaming is considered a high-risk industry, sportsbooks often pay higher fees when processing card payments. The CopyBet team were looking to reduce these costs and make payments faster and more frictionless for users.

Unfortunately, cards pose other problems for iGaming operators, including stricter payment controls. For CopyBet, this resulted in a noticeable proportion of declined transactions.

“A single unnecessary blocked payment is one too many,” Anton recalls. “It’s frustrating for customers, and it’s just not the kind of user experience we wanted to provide.”

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We knew that offering instant pay-ins and payouts was going to be crucial for us. Not just in winning new customers, but in retaining those users and keeping them happy.

Anton Ivanov, Business Development Director

The team was also worried about the risk of chargebacks, which can create operational issues, alienate users and cause reputational problems for operators.

“Like any sportsbook, we continually adapt and enhance our strategies to protect our players and mitigate the impact of chargebacks,” Anton notes.

Faced with these challenges, CopyBet sought to diversify their payment offerings. While cards would remain a staple for the business, they wanted to take advantage of more modern solutions.

They also wanted to reap the benefits of instant pay-ins and payouts: more than half (55%) of European players say they’d switch to an operator that offers immediate withdrawals.

“We knew that offering instant pay-ins and payouts was going to be crucial for us,” Anton remembers. “Not just in winning new customers, but in retaining those users and keeping them happy.”

The solution

The team at CopyBet knew what they were looking for: a secure, frictionless payment system that would improve their customer experience while reducing costs. After learning more about open banking, they began to ask around about providers.

“When we were researching payment solutions, every source we consulted confirmed that TrueLayer is among the best open banking payment networks in Europe,” Anton says. “Choosing them was an absolute no-brainer for us.”

After meeting with TrueLayer, CopyBet chose TrueLayer’s payments solution to power their pay-ins and payouts. Built on the UK’s Faster Payment rails, Payments lets customers transact in real-time, enabling the type of instant experiences that iGaming players demand.

Best of all, the process is easy and intuitive. CopyBet players can now fund their bets in just a few simple steps.

Getting started with TrueLayer was just as smooth for the CopyBet team. The integration process was fast and simple, allowing them to take Payments live in their cashier within eight weeks.

“Integrating with TrueLayer was seamless,” remarks Denis Kulakov, Product Manager at CopyBet UK. “They’re an agile company with a nice, smart team that’s easy to work with.”

The results

It took no time at all for CopyBet to see the benefits of TrueLayer Payments.

Within its first month, TrueLayer earned a 30% share of checkout. New players in particular embraced instant pay-ins: 93% used them to deposit into their CopyBet account. Today, CopyBet enjoys a 60% share of checkout, beating cards as the most popular payment method on their books.

TrueLayer’s immediate popularity also helped CopyBet offer a viable alternative payment method to users. That’s had a huge impact on their bottom line. By partnering with TrueLayer, CopyBet has seen a 500% cost savings compared to other options.

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We absolutely recommend using TrueLayer service to all providers who care for quality and prioritise user experience

Anton Ivanov, Business Development Director

The integration has also had a positive impact on CopyBet’s operational staff. Both declined transactions and requested chargebacks have fallen since TrueLayer Payments went live to players.

“Our partnership with TrueLayer was a major reason we were able to achieve these reductions,” says Denis.

The team at CopyBet aren’t the only ones seeing the benefit of TrueLayer Payments. Instant pay-ins and payouts have been a hit with players, some of whom have left glowing reviews on sites like TrustPilot. Denis calls the positive customer feedback extraordinary.

“Customers reacted exceptionally well,” he observes. “In fact, it was exactly what they were looking for.”

By working with TrueLayer, CopyBet have succeeded in diversifying their payments while providing an instant experience that has helped them win and retain customers.

The future

Anton describes working with TrueLayer as “a crucial step forward for CopyBet.” They plan to continue the collaboration, partnering to further enhance the customer experience for users.

“Instant pay-ins and payouts have definitely improved our player experience,” Anton adds. “We absolutely recommend using TrueLayer service to all providers who care for quality and prioritise user experience.”