Industry News
Navigating the iGaming Industry as a Start-Up
Pierre Mifsud, Chief Commercial Officer of the VentureMax Group, says the iGaming world presents plenty of opportunities for new companies bursting with rich ideas – so long as they can avoid its pitfalls.
The global online gambling industry has always attracted the brightest minds, creative talents and those with the strongest entrepreneurial spirit.
There is no end of success stories, from boutique studios being acquired for hundreds of millions to tier-one operators merging and consolidating to become undisputed international powerhouses. But where some businesses find success, others can and do fail.
This is because the online gambling industry is tough to navigate. It’s a minefield, and one wrong move can mean game over. You need more than just a great idea or smart product to make it to the top – and financial backing, no matter how much, will only get you so far.
Ultimately, start-ups must master all areas of business, from product quality and customer experience to regulation, differentiation, marketing and funding. And even then, success is not a given.
Let’s look at some of these key areas and see how start-ups can avoid the barriers they present.
Regulation, licensing and compliance
Vast swathes of the map turned from grey to white once the industry embraced regulation. This has opened up significant opportunities for organisations to explore, but it has also presented new challenges to overcome.
Operators, suppliers and other service providers must now secure licences and certifications to launch in regulated jurisdictions, with requirements differing from market to market – and this is easier said than done.
Most organisations have a dedicated department focused on securing the required approvals to enter markets, and then a compliance team to ensure requirements are being met at all times – the cost of non-compliance can be so high as to prove fatal for a start-up.
So think about having a specific team to handle all your regulatory needs, even if it’s just one person, because that’s how you’ll ensure your business can stick around for the long term.
Standing out from the crowd
Such are the opportunities available in this industry, it’s no surprise there are a lot of start-ups chasing after them. This means bringing something new to the table, as a means of standing out, is vital.
This can be something truly innovative – a never-seen-before game format, a fresh mechanic, a piece of technology that solves a problematic issue, or simply finding a better way of doing something already being done.
Technology is a great driver of innovation, and the start-ups that go on to achieve the most often have a proprietary platform, solution, mechanic, etc that takes the industry by storm.
Of course, this is not essential to success, and we have seen plenty of start-ups go on to do great things by improving what is already being done.
Either way, start-ups need to make an impact and won’t get far by copying those that have come before them, so embrace originality and look for a unique selling point that offers something fresh.
Engaging customers at scale:
Of the main challenges for any business – whether B2B or B2C – is engaging customers at scale. This requires a comprehensive marketing strategy that allows the business to engage customers in the right place at the right time via messaging that truly resonates.
With such high levels of competition, it’s important for businesses and brands to be authentic, and to have a clear voice through which they communicate with their audience.
This is why it’s so important for the business to have a well-defined identity and purpose as this is the only way to be heard above the noise made by rivals. It’s also crucial to identify the channels through which you can really connect with customers.
Digital marketing, when done right, is really cost-effective, highly trackable and easy to optimise in real-time so long as the right data is being gathered and analysed.
That’s why this type of marketing is an absolute must for B2B and B2C businesses.
Securing seed funding
The vast majority of start-ups find they need to secure funding to drive ahead with their plans. Organic growth is always possible, but it does take time, and this can mean the business misses a window of opportunity.
But finding the right investment partner can be easier said than done. Some investors are willing to front capital but don’t want to be overly involved in the day-to-day running of the business, while others can require more control and input than the founders want to relinquish.
Start-ups must also consider how they can make themselves attractive to the right investor. The VentureMax Group has an investment division and has clear criteria that businesses need before considering whether to get involved with them.
These include:
- Being early stage with significant growth potential
- Being a business that can disrupt
- Being a business with innovative technology
- Having a strong founding team
- Having scalable and defensible market opportunities
Our approach to investing is that it needs to be a true partnership.
Not only do we want to provide financial backing to the start-up, but we also want to share our extensive experience and help businesses successfully navigate this amazing industry.
So while there are plenty of challenges to overcome, the rewards are great for those who do manage to make their iGaming start-ups thrive.
BlueOcean Gaming has announced that its leading product, GameHub, has won the Best Aggregator 2024 Award at SiGMA East Europe Awards.
“This recognition is a significant milestone for BlueOcean Gaming, highlighting the strength and innovation of GameHub—our leading game aggregation platform. GameHub has set a new standard in the iGaming industry by seamlessly integrating over 140 providers and offering a vast library of more than 13,000 games, including slots, live casino games, virtual sports, and sportsbooks,” the Company said.
“A heartfelt thank you goes out to SiGMA World for acknowledging the hard work and dedication that has gone into making GameHub a standout product. The SiGMA East Europe Awards shines a spotlight on the most impactful projects and the visionaries driving change across the gaming industry, and we are incredibly honored to be a part of this movement.
“This achievement wouldn’t have been possible without the support of our amazing partners and clients, whose trust motivates us to continuously innovate. Most importantly, a huge round of applause goes to the entire BlueOcean Gaming team. Your dedication and passion for delivering top-tier, trustworthy solutions are the driving force behind this success.
“As we celebrate this incredible win, let this award be a source of inspiration, pushing us to aim even higher, continue our journey of innovation, and reach greater heights in the iGaming industry.
“We look forward to what’s ahead and to continue providing our partners and clients with the best solutions available in the market.”
CT Interactive, a renowned provider of online gaming solutions, is set to exhibit at this year’s SBC Summit in Lisbon, which will take place from 24 to 26 September at the FIL Exhibition Centre. As part of its presence at the premier industry event, CT Interactive will have an exclusive stand where the company will showcase its latest products.
The SBC Summit brings together leaders from the iGaming industry to explore the most significant market trends and developments. CT Interactive’s stand #A230 will feature a live demonstration of its latest gaming portfolio, including its most recent game releases and customisable solutions that cater to operators’ needs. The company’s team of experts will be on hand to explain how it’s portfolio can help operators boost player engagement and retention.
“We are thrilled to be part of the SBC Summit this year. This event is an excellent opportunity for us to connect with potential partners and showcase our latest innovations, games and bonus mechanics which give the players more control and enhance the overall player experience and winning opportunities. We are excited to present our solutions to both core and new clients, highlighting our dedication to delivering engaging and forward-thinking products on the market,” said Monika Zlateva, CCO of CT Interactive.
Visitors to CT Interactive’s stand will also have the chance to explore the company’s advanced gaming features, such as jackpots, free spins and bonus tools. Additionally, the company will unveil its new strategic partnership with GameWorkz, a provider of social gaming solutions that will present its solutions on CT Interactive’s stand at the show. GameWorkz offers a player management platform where clients can integrate various components, including third-party services and proprietary technology utilising a fully functioning social gaming product complete with gamification tools and a loyalty programme designed to meet the needs and expectations of social players.
“With our participation in SBC Lisbon, we aim to reinforce our position as a global leader in online gaming, forging new partnerships and expanding influence within the rapidly evolving industry,” said Antonio Donov, Senior Business Development Manager EMEA and Asia.
Industry News
TaDa Gaming Delivers Enhanced Performance and Rewards with New Gamification Tool, GiftCode
Leading casino entertainment content provider, TaDa Gaming, has ramped up player engagement across its diverse portfolio with its new gamification tool, GiftCode.
One click will add GiftCode to any of the 150+ diverse TaDa Gaming releases. Currently the reward is Free Spins but GiftCode is flexible so rewards can be targeted to operator choice, specific audience and even individual player preference.
Designed for issue by operators and streamers, invitations are sent to a designated segment or audience, whether new or churned players, VIPs or as part of a promotion, and through any channel. No additional integration is required. With nearly 100% redemption to date, the new product launch has exceeded every KPI.
An initial test run across Brazil saw impressive results. Collaborating with 100 Streamers and Key Influencers over four months resulted in 500,000 GiftCode links issued, with a redemption rate of 95+% and new player sign up increasing by more than 30,000 per month. Furthermore, the Next Day Retention rate was consistently 85-90%.
Since launching GiftCode in European markets in April 2024, 70K+ TaDa GiftCode links were issued across 150+ releases. This generated a 100% redemption rate leading to 13.9% increase in new player sign up, 10% increase in player engagement and a 10% uplift in bet volume.
TaDa’s GiftCode serves as a powerful tool to deliver rewards directly to players. With a straightforward process for accessing the promotion, single use application, and recorded usage and wager level, the rewards are instant, meaning players can trust GiftCode completely and operators can easily measure its success.
Andy Huang, CEO of TaDa Gaming, said: “Enhancing the gaming experience is a key way to attract and retain players. GiftCode appeals to new and existing customers and positively impacts acquisition costs for operators and streamers, so we have seen a very strong response from all stakeholders.
“Furthermore, the simplicity of the integration process is a significant driver of take up for operators, whilst the enhanced reward potential from just one click is very popular with players globally.
“We look forward to further personalising and customising GiftCode with our players and clients to create even more immersive play.”
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