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Personalisation in sportsbook roundtable

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Personalisation in sportsbook roundtable
Reading Time: 7 minutes

 

Leonid Pertsovskiy, Chief Executive Officer at Betby

If the pandemic has taught us anything about the current landscape of sportsbetting, it is that immersive experiences that facilitate modern requirements and short attention spans are becoming essential to survival. With the space becoming increasingly saturated with similar offerings and products, creating a more engaging user journey is key to standing out and ultimately retaining business.

 

How have you pivoted your offering to facilitate modern customer preferences? Or is it a case of it if aint broke, dont fix it?

At Betby, we have done a lot over the past couple of years to adjust our sportsbook to the unique preferences of modern users, even though the general needs and requirements have remained consistent over the past five, or even ten years. The end user still wants to see their favourite events on a platform, as well as less distractions, higher limits, and instant bet settlement, and our sportsbook offering has evolved over the years to facilitate these preferences and attract a broader demographic of user.

Nowadays, our platform features high-quality content, including markets on more than 90 traditional sports, major tournament that stretch across the globe, an impressive selection of esports and virtual sports events, and the cherry on the cake: our proprietary Betby.Games range.

The remarkable variety of our offering is what helps us to stand out from the crowd and engage new users. A year ago, nobody could have predicted that we would be able to offer Kabaddi, Golf and Formula 1 live to our audiences, but our sportsbook has really opened up avenues to the rest of the world in a drive to provide followers of all sports with suitable markets, and live odds. It is important to be flexible to satisfy client needs, while offering same level of adaptation when talking about risk-management, localisation strategies, and promotional campaigns. Investing in flexibility means investing in long-term stability and adjusting to the post-pandemic sportsbook landscape.

 

Were seeing plenty of changes in user behaviour and betting patterns, led by a surge in in-playbetting, Prop Bets, and Bet-Builder tools. What are you doing to capitalise on this phenomenon?

We’ve certainly played with the idea of dividing up old-school audiences from the newcomers, due to the differences in their behaviours. We understand experienced punters don’t particularly enjoy new features or innovation within sportsbook, and therefore require a simplified layout and interface that they can relate to, while on the other side of the spectrum, new users enjoy being met with an abundance of new technologies and products thanks to their pursuit of instant gratification.

Our recent focus has been on boosting gamification and the social aspects of our sportsbook, which aligns neatly with modern user requirements, such as needing consistent entertainment and various aspects of interaction in their experiences.

 

Have any innovations in the sportsbetting space have caught your attention?

We see a lot of innovations in the field of data analysis and recommendation systems where reporting and business intelligence (BI) tools have become more integral, and the times of buying market share with traffic investments are over. Our clients see just how easily and effectively they can optimise their marketing budgets using our BI analytics system, and this is exciting for both us and them.

Another innovation that we have started to see more of this past year is contests being created occurring between passionate sport followers. While casino tournaments have existed for the best art of a decade now, sportsbook was always seen as less capable of supporting engaging competitions, especially between punters, which is why we recently introduced a sportsbook tournaments engine, which has shown fantastic results.

 

With the worlds of esports and sports betting blending at an unprecedented rate, is it time that esports merits its own tab in a sportsbook?

Yes, absolutely. Esports has an entirely different audience to regular sports, as well as a distinct streaming-centric user interface, and even a different approach to risk-management in sportsbook and marketing strategy.

Esports as a vertical is very much here to stay, and competitions are extremely popular when it comes to the betting experience that surrounds their unique events, with passionate fans that enjoy placing a wide selection of bets on them. It is a very rare for a user to follow both traditional sports as well as esports, let alone combine the two in one betslip, and for this reason it should have its own tab that is managed differently to the classic sportsbook. Esports is an entirely different space to that of traditional sports, and with interaction between players and esports followers occurring in so many ways, it needs to be respected as a phenomenon.

 

Bobby Longhurst, Managing Director at Sportingtech

If the pandemic has taught us anything about the current landscape of sports betting, it is that immersive experiences that facilitate modern requirements and short attention spans are becoming essential to survival. With the space becoming increasingly saturated with similar offerings and products, creating a more engaging user journey is key to standing out and ultimately retaining business.

 

How have you pivoted your offering to facilitate modern customer preferences? Or is it a case of ‘it if ain’t broke, don’t fix it’?

We’re constantly evolving and catering our offering not only to new customer types but to specific markets. Rather than resting on our laurels, we’re consistently dedicated to incorporating new ideas and solutions into the Sportingtech Quantum platform. Attention to detail is imperative; if the customer believes there has been a lack of effort in the offering put before them, the overall success of the operation will be jeopardised. Localisation, and by extension player profiling, is what sets an offering apart from the competition, and this is something that Sportingtech prioritises – most prominently displayed in our proprietary Popular Bets and Popular Events widgets. In today’s industry, the idea that a one-size-fits-all solution can be offered is one that just doesn’t stand up. Our Quantum platform also has modularity at its core, and this is something that can’t be overlooked – if operators are handed the reins, they can personalise their own offering and subsequently make the experience better for the end user.

 

We’re seeing plenty of changes in user behaviour and betting patterns, led by a surge in ‘in-play’ betting, Prop Bets, and Bet Builder tools. What are you doing to capitalise on this phenomenon?

The rising prominence of these new kinds of betting is clear to see, but this relatively new environment can be a confusing place to navigate for newcomers. Sportingtech’s Bet Assist offering is ideally placed, making traversing platforms more straightforward for players – it generates automated betting tips based on historical data, live-score and AI analysis, covering both pre-match and in-play markets across seven sports and with complete bet slip integration, and has been proven to increase user engagement, retention and turnover rates. In addition, our FastBet solution, which enables users to wager multiple single bets across all sports at the touch of a button without creating a betslip, is the only feature of its kind on the market. Players are likely to place more bets than they usually would with a standard betslip.

 

Have any innovations in the sports betting space caught your attention?

Sports betting is a hub of innovation, and our Popular Bets and Popular Events widgets are testament to this. They allow operators to display a particular market’s current top-10 bets and top-10 events, automatically refreshing every five minutes. Offering our operator customers a localised, intuitive way to immediately boost engagement is extremely gratifying. With minimum effort on the operators’ part, they can be confident that their players are constantly being shown the most popular bets and events at any one time. Our priority is to provide flexibility of use, allowing operators to display the bets and events on different areas of their sites while also being optimised for mobile and desktop. It is important that they auto-populate according to the operators’ markets, which has gone a long way to making this the hassle-free and personalised engagement tool we set out to make.

 

With the worlds of esports and sports betting blending at an unprecedented rate, is it time that esports merited its own tab in a sportsbook?

Sportingtech’s authority in Latin America is well documented, and we are seeing that esports’ popularity in these markets is on a steep upward trajectory. New opportunities frequently arise in emerging markets for the introduction of new verticals, and our platform offers a quick and easy way to market, offering the very best of what esports has to deliver. Bettors in LatAm markets have fallen in love with esports and its popularity looks set to continue to grow – esports will certainly merit its own place in a sportsbook if this trend continues.

 

Suren Khachatryan, founder and CEO of Technamin 

If the pandemic has taught us anything about the current landscape of sports betting, it is that immersive experiences that facilitate modern requirements and short attention spans are becoming essential to survival. With the space becoming increasingly saturated with similar offerings and products, creating a more engaging user journey is key to standing out and ultimately retaining business.

 

How have you pivoted your offering to facilitate modern customer preferences? Or is it a case of ‘it if ain’t broke, don’t fix it’?

Innovation is one of the cornerstones of Technamin. We could have easily stuck with the traditional approach to a sportsbook, but we decided to take things a step further and develop a sportsbook that is ideally suited to the needs of both operators and bettors. The “if it ain’t broke, don’t fix it” philosophy may apply to all sportsbooks, as their functionalities are by and large the same. However, it’s the approach that differs. Our approach is to create a product that is easily customisable to each partner’s preference and offers each end user a personalised sports betting experience.

 

We’re seeing plenty of changes in user behaviour and betting patterns, led by a surge in ‘in-play’ betting, Prop Bets, and Bet Builder tools. What are you doing to capitalise on this phenomenon?

With the development of technology and innovation, users are displaying a decreased attention span. Therefore, the majority of players prefer matches with rapid changes and easy solutions. Technamin works hard to provide the maximum amount of live matches and in-play betting throughout the year with the most reliable odds. Our professional team of traders and risk managers make sure we provide the most accurate data to our partners. Bet Builder and Prop Bets are the other tools that make the players’ journey more enjoyable and multifunctional. These are the features that our team continually develops.

 

Have any innovations in the sports betting space caught your attention?

I think we are living in the best of times when it comes to innovation in sports betting. We are very keen on how crypto payments are going to evolve in the sector. These currencies are already taking the industry by storm, and things are only going to progress from there. Another feature we are very excited about is the addition of VR and augmented reality technology that is going to create a more immersive experience for the end user. Overall, every technological innovation is exciting because it can be a gateway to something breathtaking.

 

With the worlds of esports and sports betting blending at an unprecedented rate, is it time that esports merited its own tab in a sportsbook?

Certainly so. Regardless of where each of us stands in the “are esports real sports?” debate, the facts clearly show that esports are here to stay and are popular when it comes to the betting experience. The fans are passionate about them and love to bet on the events. It’s just another fresh and innovative side of sports betting that we must embrace and build on. And the growing demand is something that operators must meet if they wish to maintain their popularity in the industry. Of course, we at Technamin are here to help with that!

Asia

Paving the Way for Regulated iGaming market: Will India See the Rise?

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Paving the Way for Regulated iGaming market: Will India See the Rise?
Reading Time: 4 minutes

 

By Dr Aruna Sharma, Practitioner Development Economist & Retd Secretary GoI

 

Could you provide insights into the current market potential for iGaming in India, and what key challenges do you anticipate the industry facing in the near future?

The popularity of online gaming as a form of entertainment in India has surged with the widespread availability of inexpensive smartphones and affordable internet access. Global investors, developers, and other industry stakeholders are keenly watching the growth story of the Indian online gaming industry which has witnessed a 28% CAGR between FY20-23 and holds a market valuation of ₹16,428 crores.

However, instead of direct contribution in the economic growth story of India the online gaming industry is contributing in terms of increasing revenue (direct and indirect tax) collection (year-on-year). Additionally, the sector has attracted budding tech developers and entrepreneurs by providing them employment opportunities and fueling innovation to keep up with the rising demand for AI and other such immersive gaming experiences.

After some crucial and elucidative changes in the regulatory and taxation policies by the government in 2023, one can hope that 2024 for iGaming will thin the clouds that are shadowing accelerated growth of iGaming in India. 2024 holds promise for iGaming in India. While full regulation may take time, positive court ruling and increased focus on non-RMG segments could cause a casual gaming boom, potentially unlocking a multi-billion dollar market. However, regulatory uncertainty and potentially high tax rates remain a hurdle for attracting investments and interest of other stakeholders in this growing market and industry.

 

What are the main challenges facing Indian iGaming and how different are these challenges within the different regions of India?

  • The government is focusing on reducing threats like false information, mental health problems, money laundering, and financial losses for users by bringing rules and regulations such as the IT Rules, establishing SROs and SRBs.
  • Adequate regulation, that is conducive to doing business, is needed, first of all, to protect the Indian players. Because in the current situation, Indians are being abused by countless nefarious parties. Checking and curbing the illegal gaming platforms and enhancing mechanisms to ensure increased user awareness and behaviour while indulging in online gaming.
  • A pressing concern that requires governments urgent attention is to put in place parameters that differentiate between games of skill and chance for taxation.
  • As a fallout of high and retrospective taxation the industry is facing job losses, advertising and spending cuts and reduced investments in research and innovations.

Additionally, policy and regulatory compliance for the platforms have become increasingly complex with both center and state governments legislating on the same subjects and multiple ministries regulating the industry.

 

Delve into the necessity for a regulatory framework that is both balanced and adaptable.

Unregulated framework where user base is large leads to spread of iGaming in gray market with all its vices. By regulating the iGaming industry, the government can unlock other positive outcomes, such as increased tax revenues, economic growth via attracting more foreign investment, job creation, and better consumer protection. A thorough regulatory framework will enable transparent parameters to distinguish and license the game of skill accordingly and rest will fall under game of chance.

Regulations always bring in transparency and ensure there is no misleading advertising or non-payment of legal taxes. Additionally, regulations such as the IT Amendment Rules, 2023 have ascertained a robust grievance redressal mechanism by setting up of the SRBs and SROs.

Further a balanced and stable regulatory framework could provide assurance and confidence to the international iGaming companies in paying taxes while doing business in a regulated and transparent market, create jobs, and invest in the country and its people. Thus, comprehensive regulations, that are conducive to doing business and protect the Indian players, who are being abused by countless nefarious parties are necessary in the current iGaming landscape.

Consequently, foreign iGaming companies operating legally have consistently demanded that the Indian government establish an adequate and stable regulation and taxation regime. Instead, the government has consistently chosen to unwisely prohibit it, thus pushing this whole industry underground. Furthermore, iGaming companies face unfair persecution and baseless lawsuits from India.

 

The new 28% GST on online gaming has produced divided opinions about the industry’s future in India. How has the industry reacted to it?

Industry initially panicked at the 28% tax, fearing slow growth and reduced investments. The partial relief, clarification on the regulatory compliances have brought cautious optimism. Smaller firms remain anxious, fearing the high rate still discourages players and favors larger businesses. Long-term impact depends on pending Supreme Court judgment on game classification and potential tweaks to the tax structure.

The applicability of a flat 28% tax on the total value of bets placed in online gaming, irrespective of whether they are games of skill or chance has upset the applecart that was moving smoothly with the evolution of agreed principles among SROs and the oversight by SRB with clear distinction of the regulatory body between Games of Skill (permissible games) with that of Games of Chance.

The matter is now being reviewed by a Group of Ministers (GoMs) comprising of officials from ministries such as the Home, Finance, MeitY, etc. to reconsider the GST and how to counter episodes of money laundering and other such scams and frauds.

 

Finally, what can we expect from Indian iGaming as a whole this year, if you were to sum it up in three key points?

It is expected that 2024 will set pace by bringing in clarity in rule making, consistency of rules, inculcating a more stable policy environment that enables India to not miss the bus of becoming a hub for developers. The iGaming industry is expected to tighten its grip for filling the digital divide, enabling learning of cognitive skills and enhance conscious citizen messaging to further tap into the positive side of iGaming.

Additionally, iGaming industry should leverage technologies like blockchain to further the purpose of transparency and tracking of digital payment as a technical solution and for permanent storage of records to curb money laundering. Alongside formulation of regulatory policies, a stricter implementation of policies such as IT Rules (establishing SRBs), mandatory KYC, and compliance with Advertisement Standard Council in India (ASCI) norms for iGaming industry need to be inculcated in ensuring safe and secure gaming platforms.

The future of the gaming industry holds promise of growth, however, there is still a hazard that due to absent market regulation and destructive policies, international iGaming companies shun India, sending an unwelcoming signal to many other potential foreign investors.

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Interviews

Software is complex and success hard to achieve, Q&A w/ Max Francis Founder of Black Cow Technology

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Software is complex and success hard to achieve, Q&A w/ Max Francis Founder of Black Cow Technology
Reading Time: 5 minutes

 

Online gambling operators continually engage with different software projects but the rate of failure remains incredibly high. This is usually due to time pressures placed on the project. To learn more about software development, and some of the pitfalls operators need to be aware of, we spoke to Max Francis, founder of Black Cow Technology and 25 year veteran of software development. Max also talks about Agile and Rapid Application Development, and how by adopting these approaches, and working with a specialist software developer, operators can hugely increase the chances of success of any software project.

 

What are some of the main challenges operators and suppliers face when it comes to software development?

Software development is about solving a problem and the very nature of this means that we don’t know how long it will take. This is one of the biggest challenges operators and suppliers face when it comes to software projects. They struggle to understand that software development is a creative process and that we are trying to solve a problem we haven’t tackled before and we simply don’t know how long it will take to do this. This doesn’t reconcile with the date-based mentality of most organisations when it comes to deadlines and completion. This often sees projects rushed and hurried to meet an arbitrary deadline and this usually results in the project falling short of the mark or failing completely. It’s much less painful for all involved if there is a universal, upfront understanding that we can never know how long a software project will actually take.

 

What do companies need to consider if they are to complete software projects successfully – on time, on budget and in a way that effectively solves the issue?

Operators and suppliers need to make business commitments of their own and they need to be able to rely on the software provider they are working with on the project. To be able to do that, both sides need to accept the project is going to vary and evolve over time, and that they will have to trade off three crucial dimensions if it is to be delivered successfully:  features, quality and timescales. It is impossible to secure all three and at least one will have to give. So, if a project needs to go live by a certain date, that might be fine, but functionality can’t be fixed for that date. If the project needs certain functionality, then you can’t set timescales. If certain functionality is absolutely required by a certain date then the quality will have to give. Most projects try for all three – features, timescales and quality; and this is why they fail.

 

It seems that being realistic about what can be achieved is key.

It is indeed. When it comes to it, a software development project ends up in one of three places. Good with all the features but not quick; good and quick but not with all the features; or all the features and quick, but not good. The latter approach, perhaps surprisingly, can be useful for prototyping and proof-of-concept projects but care must be taken when developing without quality. All too often, trial projects end up seeping into mainstream production and people wonder why the quality is so poor. In my experience, it’s much better to be realistic about what can actually be achieved rather than trying to run a project with blindly perceived “needs” that just can’t be met. This doesn’t mean scaling back ambitions, it just means understanding the compromises. That said, to be able to predict what can be done, we need to understand and deliver small useful chunks of what we know rather than failing to deliver based on what we want. It’s always best to be realistic, and Agile and Rapid Application Development principles help us to do this.

 

Can you tell us more about Agile and Rapid Application Development principles?

At Black Cow we have the mantra “something useful to someone, sooner”. It’s essentially about partnership-oriented iterative delivery. Satya Nadella of Microsoft put it quite nicely: “set and repeatedly meet short-term goals”. The central idea of any Agile development practice is that we don’t know what we’re going to eventually need, so expect change and collaborate to deliver for the biggest difference to the business now. Think vertical slices rather than layers: do some of it fully rather than lots of it partially. Everything flows much more easily in our projects once our partners understand that it’s ultimately about delivering to their imminent business need. For me, the most important aspect is the partnership – all parties are delivering this project. We’re not trying to ruin your day by telling you that it can’t all be done; we’re trying to help you plan! Choose the compromises before they choose themselves.

 

Can you give a few real-world examples of what these approaches look like?

So, it’s good to have a plan but make every effort to base your plans on what can actually be achieved now rather than what you ultimately want to achieve. Then you need to recognise that plans always change. It’s important to tackle small enough chunks to allow yourself a better chance of success by predictably delivering, then delivering to the imminent business need. And be sensible about what that need is. To determine this, look to solve today’s problems and not the problems you might have tomorrow (unless that is in itself today’s problem). Recognise that there will always be compromises.

Think progress and not perfection. Success comes from delivering as consistently as both sides can manage and seeking to optimise at all times. Adjust the process based on the progress you are making. Don’t believe anyone who tells you they will deliver on time – they are only saying this and can’t guarantee it. This includes the customer providing material to the software developer such as specifications and responses – this is also a form of delivery.

Finally, always treat timescale requirements with suspicion. You must ask if time really is of the essence or whether it is just a desire to get something done as quickly as possible. A real deadline means the project fails completely if it’s missed. This is usually not the case.

 

What do operators and suppliers need to look for in a software development partner? And what should the working relationship between both parties look like?

Working effectively and with the right software provider is mission-critical. The supplier and the customer need to deliver, support and commit to each other. There are no sides here, this is a partnership of equals. It’s a relationship that works best when the customer keeps the supplier focused on the requirements and the supplier keeps the customer focused on what’s technically possible. In this way both parties converge on a solution and are equally committed to the shared goal. “I’m the customer and this is what I want” doesn’t get software delivered. A more intelligent approach is needed.

Software projects are highly complex interactions between several parties with requirements that change on the fly. Projects also continue well after delivery – it’s never about providing a fixed bunch of requirements as a package and then you’re done. That’s why we ensure we take the customer on the journey with us, acting as a true partnership. This is why non-software businesses should engage good software experts for their software projects, allowing both sides to get on with what they do best and allowing the project to succeed.

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Interviews

How has 3 Oaks Gaming’s Flip to Win promotional tool set the market alight

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How has 3 Oaks Gaming’s Flip to Win promotional tool set the market alight
Reading Time: 2 minutes

 

In 2023, 3 Oaks Gaming enjoyed a breakthrough year, with its powerful portfolio of slots and promotional tools resonating with players worldwide. With 2024 still in its infancy, 3 Oaks’ Flip to Win tool has proven to be one of its most successful released, with impressive stats showcased across a number of facets. We caught up with 3 Oaks Gaming’s Promo Marketing Lead, Maria Osyka, about how the tool has put the distributor on the map.

 

Promotional tools still have a hugely important place within the market. Much like a new slot game, a successful promo tool needs to be unique and stand out in a saturated environment. Numerous tools will keep being churned out with no outstanding differentiator, and this is what makes Flip to Win so distinctive – an emblem of how a tool can entice players by keeping it relevant and fast-paced.

How Flip to Win works

Flip to Win is a proprietary in-game bonus engine, guaranteeing randomly generated prizes to reward players throughout a gaming session.

A trio of cycles takes players on a rapid adventure, returning to the main game after the initial flip, repeating the sequence twice more, with the ability to enhance player retention and acquisition. This provides the ultimate gaming experience. Since being introduced to the market, the tool itself has gone from strength to strength, enjoying spectacular results since launch.

Positive results across multiple indicators

Within two hours of the campaign going live, the Average Bets and Average Rounds indicators of the promo winners showed an increase of 127% and 143% respectively.

When we compare a player’s session to the following week,   with the same number of hours by the Average Rounds indicator, we can conclude that participation in the Flip to Win campaign has a positive effect on the length of the spin session, exhibiting a 45% increase.

With the Flip to Win tool to the fore, the average session duration indicator shows that the length of time participants play for is extended by approximately 25%, ensuring that retention dramatically increases.

Thanks to these results, the effect of the Flip to Win promo tool has reached its goal in terms of retention, extension of sessions, and bets placed.

It has shown that it primarily affects important KPI indicators as short, three-hour campaigns can influence these parameters, which means a win-win situation for both the operator and us at 3 Oaks Gaming.

The quality and unique nature of promotional tools has never been more important!

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