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

Zoltan Tundik

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Photo by AbsolutVision on Unsplash
Reading Time: 3 minutes

 

  • 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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Lottery.com Enters Into an Agreement with Ritzio International, as it Seeks to Enter Various European Markets

George Miller

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Lottery.com Enters Into an Agreement with Ritzio International, as it Seeks to Enter Various European Markets
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Lottery. com, a leading platform that allows users to play the lottery online, has signed an engagement letter with Ritzio International (“Ritzio”) in relation to an expansion of Lottery. com’s business into European markets.

Ritzio is a leading gaming brand for outstanding customer service, profitable strategy, and leadership. Its gaming venues are primarily small and medium-sized properties located in urban areas throughout Europe. Their stable gaming network provides visitors with flexible access to a growing portfolio of gaming venues, entertainment services and strict standards of quality and safety.

Europe’s gambling market is estimated to be approximately €23 billion ($27.4 billion). The addressable market in the countries that Ritzio covers includes 96 million people.

“This partnership is an important inroad as we expand our overseas operations and offer our products to new markets,” said Lottery. com CEO Tony DiMatteo. “Ritzio’s established presence and experience in the gaming industry is phenomenal and aligns well with our growth strategy.”

The deal demonstrates Lottery.com’s recent efforts to increase its international expansion and presence, with Ritzio operating more than 150 gaming halls across its Germany, Romania, and Belarus divisions, exceeding 3,800 gaming terminals and €90 million ($107 million) of annual revenue. Ritzio brings more than 15 years experience in this market. More information about Ritzio can be found on their website https://ritzio.eu/

On February 22, 2021, the Company entered into a definitive agreement with Trident Acquisitions Corp. (Nasdaq: TDACU, TDAC, TDACW) to become a publicly traded company on The Nasdaq Stock Market.

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eSports

Voodoo Ranger Becomes Official Beer Partner of Dignitas

Niji Narayan

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Voodoo Ranger Becomes Official Beer Partner of Dignitas
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Voodoo Ranger has become the Official Beer Partner of the esports organisation Dignitas.

The partnership marks the first in esports for Voodoo Ranger and features community-centric social, digital, and future on-location activations with the goal of connecting Dignitas’ vibrant fanbase through the organisation’s content creators and athletes.

Through the partnership, Voodoo Ranger and Dignitas will collaborate on exciting new content to celebrate Dignitas’ passionate esports fans and community. In Voodoo Ranger Community Game Nights, streamed live on Twitch, Dignitas athletes and content creators will square-off in battles of bragging rights and brews. Dignitas will also hold a series of fan-focused Happy Hours and release original content, celebrating the special connection between gaming fans across the world and the future of the global esports community. Dignitas and Voodoo Ranger will continue to connect gaming fans and athletes at live, in-person events in the future; offering opportunities for tasting, sampling and celebrating.

“Our partnership with Dignitas is an amazing chance to support a team and community that loves beer and all things gaming and esports but includes the community support and initiatives that we as a brewery also hold extremely close to our hearts. Cheers!” Patrick Morgan, Voodoo Ranger Community Manager, said.

“Aligning with a brand that values bringing people together as highly as we do makes Voodoo Ranger a natural fit. Community is the lifeblood of esports and gaming, and we’re proud to partner with a brand dedicated to uplifting and celebrating the lives and moments we all share together,” John Spiher, Vice President of Partnerships at Dignitas, said.

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eSports

BLAST Premier extends broadcast reach for 2021 season with eight new media deals

George Miller

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BLAST Premier extends broadcast reach for 2021 season with eight new media deals
Reading Time: 2 minutes

 

Media deals include linear TV channels SportsMax, Nordic Entertainment Group and BOLT+ after increased viewership in 2020

Esports tournament BLAST Premier has extended its international broadcast reach with eight new media rights deals for the rest of the 2021 season.

TV channels SportsMax, Nordic Entertainment Group and BOLT+, among other new deals, will take the world’s leading Counter-Strike tournament series to a number of new regions around the world, including: Latvia, Estonia, Lithuania, Iceland, Canada, Kosovo, Pakistan, Sri Lanka, India and the Caribbean.

The new rights partnerships will extend the esports media network’s portfolio of media rights to over 35 partners, meaning BLAST Premier will be shown in 18 different languages and across 157 territories.

The announcement highlights a period of growth for BLAST’s TV and online distribution footprint after a year of increased viewership for esports. Newszoo’s 2020 report estimated a year-on-year increase in the total esports audience by 11.7% to just short of 500 million people, while revenue from media rights and sponsorships ($822.4m) was expected to account for three-quarters of the total market.

Last season, BLAST Premier enjoyed increased viewership and more than 83 million hours of content watched across all seven of its Counter-Strike tournaments while posting the most watched CS:GO online match of all time during the Global Final.

Alexander Lewin, VP of Distribution and Programming for BLAST, said: “We are thrilled to see so many new partners join the BLAST network of leading TV and online channels. These deals will offer even more fans the opportunity to tune in to watch BLAST Premier from around the world, which is now accessible in over 150 territories and 18 languages. We expect to continue our path of expansion during an exciting period of viewership growth at BLAST Premier and in esports.”

BLAST Premier is a global Counter-Strike tournament series that unites all major events, offers opportunities to all regions across the globe and crowns the world champions of CS:GO. Up to 32 teams will take part in the seven BLAST Premier events this year with a combined prize pool of $2,475,000 on the line.

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