From Filler to Core Content - Vermantia’s Spyros Stavropoulos on the Rise of Virtual Games

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Virtual games are taking on a bigger role in betting shops and online. Ahead of BEGE 2026 in Sofia, Spyros Stavropoulos, Chief Business Officer at Vermantia, explains why operators are making virtual games a core part of their offering, how real racing footage shapes the player experience, and why Bulgaria and the Balkans remain central to the company’s plans.

One partner, every screen

Founded in Athens in 2007, Vermantia gives betting operators one partner for content, technology and delivery. Its Complete Gaming Package brings together live racing, virtual sports and number games, built for retail and online and tailored to each operator.

Today the company works with operators in 20+ regulated markets. Its content and technology run in more than 38,000 retail locations and it delivers over 150,000 live events a year. As a member of Arena Racing Company (ARC), Vermantia has direct access to high-quality racing content and a strong industry network.

Interview with Spyros Stavropoulos, Chief Business Officer

Virtual games used to be seen as filler between live events. Is that still true?

“Not anymore. Players today expect something to bet on at any moment, in the shop or on their phone. Live events can't cover every minute of the day and that's where virtuals come in. Good virtual content doesn't just fill the gap. It keeps players engaged, keeps screens active and keeps turnover steady across the whole day. For many operators, virtuals are now a core part of the offer, not an afterthought.”

What makes a virtual game work for players?

“It has to feel real. That's why our prerecorded horse and greyhound racing uses real footage, fully licensed from the rights owners and taken from multiple active UK tracks. We apply strict quality rules: no dead heats, no handicaps, no races with non-runners or in bad weather. The player sees a real race, with the speed and convenience of a virtual game.

The same thinking goes into our virtual football. Virtual Football League plays a full matchday of 10 matches in every draw, about six minutes long, in Full HD. VPenalty Pro gives players the tension of a penalty kick in a single instant bet.”

What makes your latest virtual games ready for the new era of betting, in retail and online?

“They’re designed for how players bet today: in short moments, on any screen and in their own language. The portfolio covers three categories that operators can mix and match for every shop, every screen and every app:

• Virtual football: Virtual Football League and VPenalty Pro
• Real racing, virtualised: prerecorded horse and greyhound racing
• Number games: Colours, Bet Wheel and Keno

What makes them ready for this new era is everything around the games. They run on a certified RNG, with a game engine that adapts to different regulatory frameworks. They work on a phone as well as on the shop wall, with fast formats like VPenalty Pro built for mobile from the start. And operators control the schedule, draw frequency and payouts market by market, with automation helping to keep every screen active.”

How important is online?

“Very. We have deep roots in retail, and we're proud of that, but players don't separate retail and online. They watch a race in the shop at lunchtime and check results on their phone in the evening. So operators need one content strategy, not two. With us they get the same racing, the same virtual games and the same look and feel in the shop and in their app, through a single integration that connects with their existing wallet and bet acceptance systems. For many of our partners, online is where the next stage of growth will come from.”

What do operators ask for most?

“To make the games feel like their own. Operators want their players to see their brand, not ours. So they can put their logo and colours on the game interface, on stadium billboards and on race boards, and run in-game promotions and messages. Everything can run in the local language, with commentary in that language too. On selected games, progressive jackpots give players an extra reason to come back.”

Where do you see virtuals going next?

“Two things. First, more real-feel content: players trust what looks and sounds authentic. Second, smarter scheduling. We're using automation and AI to tune event frequency and timing to how each market performs. The goal is simple: the right game, on the right screen, at the right moment.”

The Balkans and Bulgaria

Why are Bulgaria and the Balkans so important to Vermantia?

“The Balkans is one of Europe's most retail-driven betting regions, and that's where we have some of our deepest experience. Shops here run long hours, screens do a lot of the selling, and operators manage large networks with lean teams. That's exactly the environment our package was built for. At the same time, online is growing fast, and the region is a natural place to bring retail and online together. Bulgaria has taught us a great deal about how operators here work, and we want to take that experience further into the region. Serbia is another main focus: a market with a strong retail presence and real room to grow online.”

What does your presence in the region look like?

“The region has been important to us for a long time. We’ve been General Sponsor of BEGE for several years in a row, including 2026, and we work with long-standing partners across the Balkans. Bulgaria has given us years of hands-on experience of how operators here work, and the next step is to take that experience into more countries in the region. Serbia is our main focus: it’s one of the Balkans’ most retail-driven betting markets, with a strong shop network and growing online opportunities.”

What do operators in Bulgaria need right now?

“Three things. Content in their own language and around the sports their players follow. Something on every screen all day, not just at peak hours. And central control, so they can manage hundreds of shops without adding people. Virtual games help with all three, and now they work just as well online.”

Why is BEGE important to you?

“BEGE is where the region's operators, suppliers and regulators meet. Supporting it as General Sponsor is our way of investing in a community that has supported us for many years. And it's the best place to hear from operators what's working for them, what's holding them back and how we can support them better and also show them what’s next.”

Every screen, under control

“VISION is one part of a connected set-up. CONNECT delivers our content by satellite, IP streaming or in-shop rendering, integrates with any wallet or bet acceptance system and deploys plug and play. VISION then decides what plays on every screen. Together, they mean an operator can launch our virtual games, live racing and number games through a single integration, with no separate provider integrations to build.”

Meet Spyros at BEGE 2026

Spyros Stavropoulos will be attending BEGE 2026 in Sofia on 25–26 November.

If you'd like to talk about our virtual games, live racing, VISION or the right package for your market, in retail and online, get in touch with Spyros directly or book a meeting with him during the show.

Contact Spyros: https://www.linkedin.com/in/spyrosstavropoulos/

Book a meeting with Spyros: https://shorturl.at/3kLfM

And join us at the BEGE Awards on 25 November, where Vermantia is proud to be General Sponsor.