Wiztech: operators must be able to adapt quickly or risk falling behind

Yoni Sidi, CEO of Wiztech Group, outlines the reasons why platform flexibility and speed to market are essential for driving growth in 2024 and beyond, highlighting some of the key regulatory and technological challenges that might require iGaming operators to finetune their offerings.

It’s an understatement to say that the iGaming industry has undergone some tremendous changes over the last few years. From the shift towards the online space to the introduction of new products, iGaming companies have had to make sure that they remain adaptive to change.

But as more operators and suppliers continue to flood the market, it has become more important than ever for companies to prioritise ‘speed to market’.

The ability to quickly develop, launch and adapt your portfolio products to meet the ever-changing needs of players and regulatory demands has become a key battleground for many iGaming companies.

In fact, it has arguably become a defining feature for what can give a brand an edge over their competitors. This, however, doesn’t come without its challenges.

A key driver for change

One of the most common reasons as to why speed to market is essential in the gambling industry is to keep pace with the relentless rates of technological innovation.

We appear to have entered a new chapter in our industry where new technologies are shaping the evolution of the iGaming space; artificial intelligence, machine learning, automation and Web3 are all having an impact upon how we deliver new and engaging experiences.

Deploying the latest technology within your platform can be a ‘make or break’ when it comes to gaining a competitive edge. Using legacy technologies can not only hinder your long-term potential to adapt to regulatory change, but from a player perspective, can limit your ability to meet the changing demands of players.

Put simply, a flip phone from the early 2000s isn’t as technically capable as the latest iPhone model, for example. And we all know which one customers would prefer.

Players expect seamless, engaging experiences that give them access to instant content and a wide array of products to enjoy. But to achieve this, you need to be flexible when it comes to your product development, marketing strategies and player engagement strategies.

This might involve rapidly iterating game designs based on player feedback, launching new products based on current trends, or integrating social features that enhance the communal aspect of gambling experiences.

Wiztech’s ambition

At Wiztech, we have been focusing on delivering platform upgrades and best-in-class products at speed. We are able to take a client live in a matter of weeks – a speed that I haven’t yet seen from any other company in our industry.

We focus on speed to market because we want to be able to give our partners the best possible opportunity to deliver features, games and improvements to their players at a rate that is much faster than their competitors. As a result, this puts them in good stead to attract and retain customers in the long run.

Our platform’s flexibility has meant we can pivot to new trends and player preferences quickly. Whether it’s adding new products, new payment methods, or even adapting to new regulations, being flexible and quick to market also means that we can deliver a more localised, relevant product for our operator partners.

We work very closely with our ever-growing network of partners to understand what products, features and enhancements will resonate with players.

Speed to market is essential to cutting through the noise of this industry. So, as technologies continue to advance, new markets open up and player preferences continue to evolve, Wiztech will be there every step of the way to support our partners and help them realise their full potential.