Yury Krasovskiy: Leveraging 25 Years Of Expertise To Steer ‘Incred’ To Success

Yury Krasovskiy: Leveraging 25 Years Of Expertise To Steer ‘Incred’ To Success

Yury Krasovskiy, Co-Founder & CEO

Yury Krasovskiy

Co-Founder & CEO

While living in a normalized and structured society, people's psy-chological need for uncertainty is often underestimated. The growth of sports betting markets across the world can be traced back to this fundamental fact. Today, owing to the improved regulatory landscape of the entire gambling sector, the penetration of smart-phones, and the developing digital infrastructure, the global sports betting market is anticipated to grow at a CAGR of 10.2 from 2022 to 2030. The pandemic has also been a tailwind. Russia is emerging as one of the largest sports betting markets, thanks to the country's leading sports betting companies like Liga Stavok-one of the leading Russian betting companies well known for creating new spheres of entertainment in the country while also supporting sports on the nation-al level.

The story of Liga Stavok is also the story of Yury Krasovskiy (Co-Founder & CEO, Liga Stavok)--a visionary entrepreneur by his legacy and a true sportsman at heart. Yury is piloting a mission to transform the sports and entertainment industry into the digital age. In an exclusive interview with CEO Insights, Yury walks us through his journey, past experiences, and latest endeavors.

Could you acquaint us with the inspiration that pulled into sports and urged you into building a career in it? Take us around the most memorable milestones in your professional journey.

I grew up in the Soviet Union, and it was impossible not to do sports. The country invested heavily in kids and youth sports. On almost every block of every city, there were youth sports schools, huge swimming pools, and gyms. So, throughout our childhood, both boys and girls went to different sports clubs every day, if not a couple of times a day.

We did wrestling, boxing, and swimming. Of course, all the boys wanted to play football, and I was no different. But I was praised more in track and field and achieved better results there. Hence, I stayed in track and field. In the seventh grade, I was invited to go to a specialized sports boarding school. And I soon started my professional career in sports.

The main factors that motivated me in sports were the desire to compete and to win.

How would you define Liga Stavok's position in Russia's betting industry pool? What makes it a top preferred company that has won partnerships and collaborations with major sports companies?

Liga Stavok has always been a pioneer and a leader of the Russian betting industry. We have always been a locomotive that led the entire industry.

Thanks to Liga Stavok, many vital laws were introduced. Primarily they combatted illegal gambling. There was instant blocking of illegal betting sites and online casinos (without a court order), as well as a ban on bank transfers involving unlicensed businesses.

By the way, the mandatory target allocations that all bookmakers must make towards the development of national sports was the Liga Stavok initiative, which we are very proud of. Thanks to the successful realization of this initiative, the sports betting industry in Russia is now considered to be a socially responsible industry. As a result, we are supported by the national sports community.

Liga Stavok has a lot of experience working with major sports federations and organizations, as well as an impeccable reputation. Our company's ethics certainly play an important role in that. Liga Stavok always keeps its word, fulfills its obligations, and transparently operates within the framework of the contracts. Our win-win philosophy is greatly appreciated by our partners and state regulators.

I am sure that Liga Stavok's ethics are the key to our long-term success in the future.

Also, tell us about Upffinity and how it provides its clients a welcoming, secure and comfortable gaming environment.

Upffinity's success is its team. The guys who run the casino business on Phu Quoc Island in Vietnam are the best representatives of the gambling industry from all over the world. There are Finns, Macedonians, Boers from South Africa, Russians, and Serbs. Our employees have extensive experience in different parts of the world, including Macau, the best European and Asian casinos. We are proud of our team, and we know that the time will come and it will open more than one world-known casino.

The team's focus and priority are the customers. All the strategic plans are built primarily for the convenience and safety of the clients. And this is the formula of our success that is complimented by the experience of the Upffinity team.

Your professional expertise sums close to two decades in supporting sports development and helping integrate the Russian betting industry into a regulatory and legal framework. What are the major hurdles you faced and the positive changes that bore fruit from your efforts?

The main obstacle for us is illegal gambling. It's always easier for illegal businesses -- they don't pay taxes and mandatory target allocations. Hence, they have more financial resources for business development and competition. Also, illegal companies don't always fulfill their obligations towards the players and don't respect their financial safety.

And, of course, the illegal companies damage the reputation of the entire gambling industry with their unscrupulous work. It is a major problem that stands in the way of legal companies' growth and the interests of any state.

The main positive changes are, as I said before, the blocking of illegal sites, the introduction of mandatory targeted allocations as well as the prohibition of money transfers to offshore accounts. Also, in 2014, a law that allowed bookmakers to operate online was passed. It was, in large, done thanks to our efforts. The conditions for opening online operations in betting were security and transparency. This was exactly what the managers and the team of the Liga Stavok worked on.

What has been your biggest motivation factor and success mantra so far?

I would say it is the qualities I developed while being a competitive sportsman --purposefulness and faith in victory. Everything we did -- training and living -- was aimed at winning. And now, this is my mantra in business. My motivation is to win and to only win. In business, I behave in the same way as I did in sports. And this is our company's advantage.

You are also involved in a lot of philanthropic activities, including your role in the Sozvezdie Dobra Charity Fund. What are the ways you have been supporting sports development among young talents?

The charity has always been a big part of our company's activities. Sozvezdie Dobra Charity Fund is not just an ordinary charity foundation; it was created in honor of Oleg Zhuravskiy, my partner and co-founder of Liga Stavok, who, unfortunately, passed away in 2017. His widow, Olga Zhuravskaya, runs the fund. For me, this is not just charity work but an ongoing commemoration of my friend and partner.

We support around 1500 girls and boys who receive scholarships. These are young talented athletes who show great promise but who do not always have the means to equip themselves, to pay for their training and competitions.

We also support several orphanages. Another direction of the fund's work is the popularization of sports among the youth. We build sports fields, basketball grounds, and hockey rinks all over the country.

I would also like to mention another important component of the fund's activity: supporting sports veterans -- famous World and Olympic champions. This was especially important during the pandemic. We supplied them with food baskets and necessary medicine. We have taken over 400 veterans under our patronage so that they are not in need of everyday essentials, including groceries and medicine.

"We support around 1500 girls and boys who have received our fund scholarships. These are young talented athletes who show great promise, who do not always have the means to equip themselves, pay for training and competitions"

Tell us about your future paths to reach your dream destination.

My dreams today are inseparable from the team that manages Liga Stavok. We are talking about experienced, well-educated, high-level professionals. Most importantly, they respect each other and trust each other. These qualities allow them to find new non-standard solutions for the entire global industry and implement them in a short time.

Today, it is important not to stop in the process of development. The world has become more dynamic. It has become much faster. New information, tools, and techniques for achieving set goals are increasingly important. It is necessary to make stops to acquire the necessary skills for further development and then move on.

What are your hobbies? Also, what are your favorite cuisines and travel destinations?

I do yoga, Pilates, and swim. It is important to take care of yourself and your health. I am also a big sports fan. I am friends with many athletes, sports stars, and veterans. So, all my hobbies and interests have to do with sports ­ sports for myself, sports for the boys and girls, for the fans.

When it comes to my favorite cuisine, it is Asian. I love Chinese very much. But my number one is Pho Bo soup. I even know places in Moscow where it is absolutely delicious. Not a week goes by that I don't visit these places.

I love to travel. Phu Quoc in Vietnam is my favorite destination. It is a beautiful and peaceful place with kind, caring people. I also love France, Cote d'Azur.

You are also a passionate reader. What is your favorite book?

I have many favorite books. Jack London is probably my favorite author. I re-read his books from time to time. Right now, for the second time, I am reading SNUFF, a book by Russian author Viktor Pelevin. It is about social and political conflicts.

You are also a passionate reader. What is your favorite book?     

I have many favorite books. Jack London is probably my favorite author. I re-read his books from time to time. Right now, for the second time, I am reading SNUFF, a book by Russian author Viktor Pelevin. It is about social and political conflicts.

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