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YouGov, TrueLayer research reveals the 5 trends shaping the future of iGaming payments

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  • iGaming providers that offer instant bank payment capabilities and couple their service with responsible gambling initiatives will drive trust, higher usage and reduce player churn.

TrueLayer, the leading technology company building financial infrastructure that’s open to any business, anywhere in the world, today revealed the results of its latest research, produced in association with YouGov, into the future of iGaming payments.

The research surveyed over 3,000 regular online gamblers across major European markets including the UK, France, Spain, Italy and Germany, examining attitudes and experiences within iGaming, and the impact of payment options on player onboarding, retention and safeguards.

It revealed five significant trends:

  • Players want fast payments: Rapid deposits and payouts consistently topped the list of player priorities, with 8 out of 10 players rating fast payments as important – and they choose their gaming operators accordingly. Our survey shows that, in 5 out of 6 markets surveyed, players consider fast withdrawals to be in their top two priorities. Compare this with “A good sign-up offer for new customers” – the bounty that has occupied marketers for so long – never making it into a country’s top five priorities.

“What’s better than your player not having to wait to deposit their money and play, or withdraw their winnings? That’s the best experience you can give them,” commented Christian Reinheimer, Head of Payments Strategy, LeoVegas.

  • Instant withdrawals improve brand trust: Instant withdrawals increase deposits, while slow or problematic withdrawals are a key source of frustration, complaints, bad reviews – and ultimately churn. Almost two thirds of respondents said they were more likely to trust a gaming service that offered withdrawals and deposits (64%). While more than half (55%) said they were likely to switch to an online gaming service that offered instant withdrawals.

“Players who have access to faster withdrawals are loyal, highly engaged customers who deposit more regularly,” commented Natalie Dunne, Head of Payments, Paddy Power Betfair.

  • Players want to pay by bank transfer: In the UK, Germany and the Nordics around 7 in 10 players use bank transfer to pay into a gaming service. Pan-European gaming brands to be mindful of the fact differing cultural preferences across the continent, as card payments still dominate in France, Italy and Spain.

  • Onboarding needs to be fast and simple: For all online services, the onboarding challenge is simple, the customer has not yet experienced your service, so they are easier to lose. The trend is towards seamless and frictionless signups. In total, around two thirds of our respondents (65%) said they would not tolerate a signup process which lasted more than five minutes.

  • Players choose operators that support responsible gambling: Our research shows that online gaming operators who promote responsible gambling by including tools like spending caps are more popular than those without sophisticated limits. Around two thirds (65%) of players across are likely to use a site that promotes responsible gambling by setting spending caps and limits.

“The research findings clearly show that improved payment options are a key driver for players, whether they are choosing a new gaming provider, allocating deposits or deciding to move on. It delivers a clear message to operators that as players experience seamless digital services in other aspects of their lives, their expectations for iGaming are also changing,” commented George Davis, Product Lead for Payments at TrueLayer.

For operators that means implementing more robust, instant pay-in and payout capabilities, or face increased player churn. True loyalty, the sort that causes customers to genuinely recommend a brand to their friends, comes from one thing only: exceptional customer experience. That includes everything from dispute resolution through to technical reliability and confidence in payments.

Open banking can play a crucial role, delivering new payments approaches to the iGaming market. It also presents an opportunity for operators to differentiate and drive customer customer loyalty through rapid deposits and withdrawals; a trusted white-label payment experience; and tailored responsible gaming protections.

“iGaming providers that offer instant bank payment capabilities and couple their service with responsible gambling initiatives will drive trust, higher usage and higher player stickiness,” added Davis. “Open banking is also a positive move for responsible and sustainable gambling, since banks can control their limit allowance, and any interactions via open banking APIs will enforce those allowances.”

About the Research methodology

The report presents the findings from a survey, conducted by YouGov, into the habits of users of online gambling/betting services. It focused specifically on attitudes to signing up to a service, as well as the ways in which they transfer money in and out of their gaming accounts. We conducted over 3,000 interviews, during October 2020. Data was gathered across six European markets: the UK, Germany, France, Spain, Italy and the Nordics (Sweden, Finland and Norway) with a minimum of 500 interviews in each territory.

For the purposes of this survey, online gaming refers to a breadth of online gambling activities, including sports betting, casino games (from slots to poker), bingo and lotteries. All respondents use online gambling / betting sites at least once every couple of months.

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Win tickets to the BLAST Premier Fall Final: GG.BET is running a MEGA BLAST Competition for fans of СS2

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From 26 July, all GG.BET users can get involved in the new MEGA BLAST Competition with a €10,000 prize fund. The winner will receive two tickets to the BLAST Premier Fall Final CS2 tournament, taking place from 27-29 September in Copenhagen. To enter, you need to place bets on Counter-Strike 2 matches.

BLAST Premier Fall is a major series of Counter-Strike 2 tournaments which draws in millions of viewers from all over the world every year. The series consists of three stages: Groups, Showdown, and Finals. The Groups stage sees 16 Tier-1 teams duke it out. Only 6 of these can go on to compete in the final, while the rest will battle it out in the Fall Showdown for two additional spots in the final. BLAST Premier Fall Finals will be the concluding stage of the Fall series, and fans can look forward to electrifying action, heart-stopping twists and turns, and an epic $425,000 prize fund.

From 26 July to 4 August, as the Groups stage rages on, GG.BET will be holding its MEGA BLAST Competition. The winner will get their hands on two tickets to attend every day of the BLAST Premier Fall Finals. As well as these tickets, the bookmaker is also giving away a whopping €10,000 prize fund to the top 40 participants in the MEGA BLAST Competition.

How to take part in the MEGA BLAST Competition:

  1. Register an account with GG.BET or log in to an existing account.
  2. Go to the tournament page and press “Participate”.
  3. Place bets on Counter-Strike 2 matches. Every bet you place will earn you a certain number of points, based on the odds.
  4. Rack up points, keep an eye on the leaderboard, and wait for your winnings to roll in.

Bet on your favorites and get ready for some unforgettable fun! Head over to GG.BET right now so you don’t miss your chance to enjoy a festival of Counter-Strike action in Copenhagen.

 

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Latest News

MANCHESTER CITY TO MARK GLOBAL PARTNERSHIP WITH SUPER GROUP-OWNED BETWAY AT THE NEW YORK STOCK EXCHANGE

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Manchester City has today announced a new multi-year partnership with leading global online betting and gaming brand, Betway.

As part of the club’s pre-season tour of the United States, and to mark this significant deal, leading figures from Manchester City and Super Group will be on-site for the iconic NYSE bell-ringing ceremony later today. Ferran Soriano, CEO of City Football Group, along with Neal Menashe, Super Group CEO, will ring The Opening Bell at 9:30am EDT.

The agreement will see Betway become the club’s Official Global Betting Partner from the start of the 2024/25 season, as Manchester City joins the brand’s extensive sports sponsorship portfolio which includes teams from across the Premier League, La Liga, NBA and more.

Ferran Soriano, City Football Group CEO, said: “We are pleased to announce Betway as our Official Global Betting Partner today. As a globally recognised brand, Betway has a strong pedigree and history of working with high-profile brands within the sports space and we’re excited to work together throughout the partnership.”

Super Group CEO, Neal Menashe, commented: “We are absolutely delighted to become Manchester City’s Official Global Betting Partner. This agreement cements our place in the top tier of Premier League partners, ensuring that our Betway brand reaches fans in all corners of the globe.”

Throughout the duration of the partnership, Manchester City and Betway will collaborate on a number of activations and exclusive content opportunities, in addition to the brand featuring across digital and in-stadia assets.

Manchester City and Betway will also work together to provide all players, coaches, management and staff in-depth, industry leading training on all relevant codes of conduct relating to betting integrity and responsible gambling. This is in addition to the work Manchester City already does to support players and staff in this area.

The Opening Bell ceremony can be viewed live.

 

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Compliance Updates

Acquiring a Curacao Online Gaming License in 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed

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The “Acquiring a Curacao Online Gaming License, 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed” report has been added to ResearchAndMarkets.com’s offering.

This report includes valuable insights into the financial and procedural aspects, including detailed information on costs and timelines associated with acquiring a Curacao license.

In 2023, Curacao introduced the “Landsverordening op de kansspelen” (Ordinance on Games of Chance) to modernize and regulate gambling legislation. Since March 2020, the Gambling Control Board (GCB) has been authorized to regulate offshore gambling games and oversee the issuance of Curacao licenses. As of 2023, there are 16 companies providing legal services for registration and licensing in the territory of Curacao. The license fee, as per GCB regulations, is 36,000 ANG or 19,800 USD, payable upon license issuance.

Research Timeline and Data Relevance

The research was conducted in two stages. The first stage, studying the regulator and Open Data Search, took place in December 2023. The second stage, writing the report and partially updating the data from the first stage, took place from the end of April to the end of May 2024.

Goals and Objectives

  • Describe the information about the Curacao license and the issuing regulator.
  • Describe the requirements and conditions for obtaining a Curacao license.
  • Describe the costs and timelines for obtaining a Curacao license.
  • Briefly study the market, find and suggest the following lists:
    • Legal companies offering services for company registration and obtaining a Curacao license;
    • Communication agents and integrators working with the Curacao license;
    • Suppliers and vendors working with the Curacao license;
    • Payment systems working with the Curacao license.

Key Topics Covered:

1. Goals and Objectives

2. Research Timeline and Data Relevance

  • Document Markup
  • Raw and Combined Data
  • Terms & Glossary

3. General Information

  • The Regulator
    • Registration of Operators With Sublicense
    • Application for an Online Gaming License

4. Requirements and Conditions for Obtaining a License

License Conditions

  • General Prohibitions
  • Safe and Secure Environment
  • Equipment and Application Software
  • Player Registration
  • Payment Transactions
  • Games
  • Terms of Use
  • Resolution of Complaints
  • Administrative Responsibilities
  • Publicly Available Information
  • Reports
  • Policies and Procedures
  • Suspension and Revocation of License
  • Additional Conditions
  • Supervision

Recommendations or Minimum Requirements for the Business Plan

5. The Cost of the License

6. Decision Term and the Validity of the License

7. Application Method and Forms

8. Contact Information

9. Companies for Registration and Licensing

10. Integration Companies

11. Suppliers and Vendors

12. Payment Systems

13. META

14. Appendix: Terms & Glossary

For more information about this report visit researchandmarkets.com/r/izeo6g

 

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