Esports and the betting sector associated with it is still in its infancy, but Oskar Fröberg and Anton Janér, the co-founders of data firm Abios, have become seasoned players in the field. Established in 2013, Abios initially launched as a B2C scheduling platform designed for fans to track esports tournaments, games, and results. While products like their popular Chrome extension gained traction, monetizing proved challenging, leading to a strategic shift.
Recognizing the potential of data, the company transformed its focus towards B2B services, specifically APIs and visualizations. This transition has significantly benefited them, as Fröberg noted, “Sometimes we refer to our current business as one of our backup plans, but that’s not really the truth. When we built the B2C platform we saw that as potentially a good business in itself, but we had a number of paths we could take. One of these was B2B, one of these was building our own betting platform and we saw the best opportunity in B2B.”
Their focus on data attracted the attention of Kambi, a leading betting service provider, which acquired Abios in a SEK270 million deal in 2021. In a challenging market where many esports betting companies struggle to gain traction, Abios stands out thanks to its early funding and Kambi's expertise that positions it to influence the future of esports betting.
Janér humorously downplayed their veteran status, stating, “We started out early; I feel young and alive still.” He emphasized that a company’s true value lies in solving problems, which he believes has contributed to Abios' longevity. “Having worked on those problems for ten years, doing everything from handling real-time esports data from servers to working with analogue information, we’ve been solving these problems to an extent,” he explained. “That experience is very hard to replicate.”
A firm commitment to the sector and a strong team supports this experience. Janér highlighted the importance of surrounding oneself with industry enthusiasts who are deeply passionate about entrepreneurship. “We have people around us who support us in every aspect, the best possible people in every single role and, if you have that, the rest takes care of itself.”
As Abios occupies a pivotal role in making esports betting more mainstream, recent challenges in the industry have raised concerns about its future. Many betting operators have captured investor interest, raised funds, and then quickly depleted these resources without delivering returns, leading some to abandon esports entirely or dispose of assets hastily. Overall, valuations for many organizations have sharply declined, with drops exceeding 90% in cases. Fröberg described the current turmoil as a market correction, saying, “Having been in the industry for ten years we’ve seen a lot of businesses come and go, a lot of brands that have created a lot of noise, raised loads of capital then are never heard of again two or three years later.”
He pointed out that some companies were listed during the pandemic but failed to produce viable products, acknowledging that the macro environment could ultimately benefit the industry. “Those that find the right product-market fit will stick around, and will come out strongly,” he predicted. Although esports may face a correction, Fröberg contends that it is not necessarily equitable, stating, “We’ve seen a lot of ventures out there, where we think the idea is right, the product is good, but it’s a matter of timing.”
Janér noted that such fluctuations are not unique to esports but can be seen across various industries globally. He commented, “Most people should have been a little bit attuned to the risk of this happening. It impacts healthy companies less, but it impacts everyone.”
However, Janér believes that esports’ digital-first nature positions it to endure the challenges more effectively than traditional sports sectors. He expressed optimism about the industry's long-term growth, recognizing that significant advancements occur each year. He also views the unique technology within esports as a source of opportunities that cannot be matched by conventional sports.
Fröberg expressed his belief that critics of esports likely lack a comprehensive understanding of the sector or hold biases regarding gaming. He reinforced the notion that the market is evolving, asserting, “It’s still a rapidly growing market that’s finding its way. If you have an intimate knowledge of the sector, you know it’s here to stay and it’s going to get bigger and better.”
Despite the hurdles, both co-founders remain optimistic about the future of esports. Fröberg pointed out that the audience is still young and has limited disposable income, predicting that as these fans mature, the industry's revenue potential will grow. Janér observed that there are both advantages and disadvantages in all popular betting sports, asserting that esports has equal footing. Nonetheless, he acknowledged a “big lag” in accessible information about esports performance across various platforms, suggesting that while the data exists, it is yet to be fully revealed.
As esports develops further, Janér expressed confidence that the sector will continue to expand. He acknowledged that while he cannot predict when esports will reach the same level of prominence as American football, it is definitely moving towards a significant position.
Aligned with Kambi's success in the traditional sports betting realm, Abios now benefits from this partnership. This collaboration offers Abios insight into navigating the complex regulatory environment, a challenge often faced by newcomers in esports betting.
Janér admitted that Abios was
