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Exclusive Q&A with Joakim Renman, CCO at Scout Gaming

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Is DFS the perfect alternative for sports fans who reside in jurisdictions where sports betting is still unregulated? How much of a crossover is there between sports betting and DFS fans?

Fantasy sports is an integral part of the modern sports fan and the crossover is near perfect. Our data shows that sportsbooks that offer DFS can see a significant increase in the time customers spend on site, the money they spend and the trust they have with the brand. Of course, this works both ways so for operators limited to DFS at present they have the potential to unlock powerful cross-selling opportunities once they are permitted to offer sports betting.

For us it does not matter whether the market is regulated or not. The Scout Gaming platform is modular so can be adapted to any market and in particular any regulatory requirements that have to be met. We want as many operators as possible to leverage the potential of daily fantasy sports so we have built our products and services to be customizable in a short space of time and with very little effort.

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DFS has been growing in popularity around the world continually over the past few years. What aspects of this vertical cause it to be so appealing to the new generation of players entering the market?

I think it has a lot to do with the complexity of daily fantasy sports when compared with sports betting. Players are far more invested when creating their teams than they are when simply betting on the outcome of a football match. DFS offers additional layers of engagement, it is a more sophisticated product and poses a greater challenge.

It also helps players to connect with the sport on a deeper level. It creates an emotional attachment that carries over to the DFS products they are playing and the brand they are playing with. Ultimately, DFS players see the game differently to a sports bettor and this in turn enhances their joy of betting and gambling.

The social aspect of DFS is also a big draw for players. Sports betting can be solitary but with DFS there is a huge community of like-minded players. There is a lot of content created around DFS and people like to talk tactics and strategies and share performance stats on social media. Of course, DFS is a community-driven game at heart as it requires high levels of liquidity to offer the best player experience.

Some industry commentators believe that being able to continually offer the customer something new and different is a core aspect of player engagement. How important is innovation to Scout Gaming and what are some of the most exciting innovations available in the market? What does the next level of DFS look like?

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Innovation is key and that is why sportsbook operators are looking to add daily fantasy sports to their offerings. Sports betting has remained fairly stagnant for a number of years now; players are offered the same odds, markets and bet types. To take their propositions to the next level, operators need to add more variety and DFS provides this.

Here at Scout Gaming we are incredibly focussed on developing new features. Our international real money network liquidity solution for paid DFS has put us miles ahead of any competitor trying to break into the market.

Add to this our bet recommendation engine, Betflex, unique playing features like Pursuit, Late Swap, Safety Net, Bet-on-my-Team, Player Performance Odds, Player Sportsbook, Player Matchups and you can see why we are at the cutting edge of the fantasy vertical.

That we’ve done all of this on Web Components, a new technology from Google that looks set to become the standard in the gaming space, means we can maintain a fast pace of development to remain ahead of our rivals.

This really is a new universe where the sky is not even the limit.

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New innovations such as the Scout Gaming Fantasy Player Odds Markets are a great way to further integrate two different audiences. Is DFS the perfect complement to sportsbook products and how big Is the cross-selling opportunity?

According to our internal data and analysis from one year of numbers from a client success story, typical sportsbook players who are exposed to Scout Gaming’s fantasy products have 22% more active days, 14% more turnover and 7% higher GGR on the partner’s sportsbook.

The effect on sportsbook performance from heavy fantasy sports users is even more drastic. This leads to 35% more active days, 45% more turnover and a 20% increase in GGR on the sportsbook.

In addition, iGaming partners see an extra 3.9 active days per user per month. Finally, 54% of users in full seasonal games are retained for 9+ months, greatly reducing customer churn.

This proves that DFS is a perfect complement to sports betting since it offers sportsbooks vital product differentiation while substantially increasing GGR and improving user active days and turnover.

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The esports sector has experienced unprecedented growth recently and offers great growth opportunities for potential market entrants. How can verticals like DFS help operators successfully tap into these online communities and keep them engaged?

Regular sports do not have communities in the same way that esports and DFS do. Esports in particular is consumed online and via channels such as Twitch and Youtube where community engagement is encouraged and celebrated. Because esports is consumed in an online world, players are far more connected to the game being played and to related products.

The same applies to DFS; it is community driven and players have a much deeper engagement with the sports, teams and players they are “betting” on. By offering DFS, traditional sportsbook operators can tap into these communities and, given the cross-sell potential mentioned above, unlock tremendous growth as a result.

DFS products have seen great success in key regions such as North America, Australia and is still yet to fulfil its full potential across Europe. What regions do you see offering the best growth opportunities in this sector and what can we do as an industry to push DFS to the next level?

DFS is forecasted to represent somewhere in the range of 2.2%-3.2% of the entire European real money wagering market. With a total market size of €24.7bn, this represents a total addressable DFS market of €550m-€700m, much of which is still largely untapped. With the US market having already surpassed the $500m mark and growing at a steady pace, we definitely see Europe as a significant market and one that will grow at a much faster pace and with less competition.

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How did the lack of live sports affect the DFS market last year? What can DFS operators do to better protect themselves from these instances in the future?

The key is to not focus too much on a single sport or set of leagues and instead offer enjoyable experiences that span literally any sport, league and with multiple ways to play.

We were able to face the challenges of the pandemic by having all of our technology, IP and knowledge in-house; this allowed us to immediately cater for whichever sport or league was available at any given time. Whether eSports, Taiwanese Basketball or even minor local leagues, we were able to make sure that the music never stopped playing for our operator partners.

Scout Gaming reported a 54% revenue increase for Q1 of 2021. What do you think has been the key driver of this growth and how can these levels be maintained going forward?

There are several factors behind the growth we recorded in Q1. We are constantly improving our product which in turn allows us to gain even more traction with existing and new operator partners. As our liquidity network is shared between all of our partners, the more operators we add the more attractive our product becomes to new customers.

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This is because we can offer bigger prizes and also invest in the development of new games, betting types, markets and so on.

In terms of continued growth, we are set to go live with several new partners including two tier 1 operators, both first of its scale and size. Our sportsbook has also seen a significant increase in traction of late and we’ll be “completing” the offering with the addition of key features such as Live Betting, Bet-Builder, Cash-Out and of course a few Easter Eggs spawned from the intersection of fantasy and sports betting. There is incredible momentum behind the business right now and I am excited for the rest of the year.

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Modern Oracles & Smart Payments: Finrax’s Vision for Blockchain, AI & Beyond

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Finrax steps into the spotlight as the official Lanyards Sponsor at HIPTHER’s MARE BALTICUM Gaming & TECH Summit 2025 in Vilnius, bringing with them a next-gen crypto payment gateway and a bold vision that extends far beyond payments.

We sat down with Konstantinas Balakinas, CEO of Finrax, to discuss the future of AI in finance, the real-world potential of blockchain beyond the buzzwords, and how Finrax plans to bridge fintech innovation with eCommerce and beyond.

 

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Konstantinas, thank you for joining us! Can you please introduce yourself to our readers, and share more about your professional background and role in Finrax?

Thank you — it’s a pleasure to be part of this conversation, especially as Finrax steps into a more visible role at this year’s summit.

I’ve been working in the financial industry since 1999, mostly in regulated environments. The bulk of my career has been in consumer finance, where I had the chance to grow several companies from the ground up and eventually guide one through the process of securing a specialized bank license. That experience taught me a lot about how to build resilient financial infrastructure — and how to adapt when the rules, tools, and expectations shift.

My interest in AI came later. I had a first-hand look at its practical impact while working with a Lithuanian EMI that was really leaning into AI-driven operations. That sparked something — and eventually led me to study AI for Business Analytics at Turing College, where I’m currently sharpening both technical and strategic understanding of how AI can reshape financial services.

At Finrax, I serve as CEO and Chair of the Management Board in its Lithuanian entity. Our mission goes beyond crypto payments — we’re focused on building real utility for digital assets in a way that businesses can trust and adopt without friction.

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How do you see today’s AI solutions? Can they be truly predictive, like “modern oracles”, or are we still in the realm of reactive technology?

AI today is generative AI — especially large language models (LLMs), which have made impressive progress in producing human-like text and anticipating user intent. So in a technical sense, yes — these systems are predictive, but not in the way many assume. What they predict is not the future itself, but the next statistically likely word or phrase based on patterns learned from massive datasets. That creates the appearance of intelligence, but not true comprehension.

This distinction is essential. As Carl Bergstrom and Jevin West explain in The Bullshit Machines, LLMs can sound coherent and authoritative while having no actual grasp of truth. They generate content that feels convincing, regardless of whether it’s accurate or logically sound. That’s not a flaw — it’s how they’re designed.

One should approach these tools with both optimism and caution. Today’s AI still sits within the boundaries of Artificial Narrow Intelligence — excellent at specific tasks like pattern recognition, anomaly detection, and content generation, but still a long way from Artificial General Intelligence, which would reason and adapt like a human across any domain. And Artificial Superintelligence, capable of recursive self-improvement and independent thought, remains firmly theoretical.

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So, while we admire the capabilities of today’s generative AI, we don’t mistake fluency for understanding. These are powerful tools — but not oracles. The real challenge is using them responsibly and building systems around them that make sense in the real world.

 

What are some practical ways AI is and could be integrated into Finrax’s crypto payment platform? Are there use cases you’re already exploring or see as promising?

I see three core domains where AI tools offer real practical value — not just for Finrax, but for any fintech building towards efficiency, scale, and regulatory clarity.

The first is internal productivity. AI works well as a personal assistant for employees — helping with everything from drafting emails to summarizing documents or generating code. Off-the-shelf tools like ChatGPT are already useful for this, but their impact depends heavily on how well people know how to prompt them. That’s why custom GPTs are especially promising: they allow us to build tailored assistants with topic-specific knowledge and clear task guidance. For instance, an onboarding specialist might use one to walk through a compliant KYC checklist, while a developer could use another to generate smart contract boilerplate or debug Python scripts.

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The second domain is AI agents — and this space is moving fast. These systems handle automated, rule-based workflows, often collaborating with other agents to move tasks along. They’re more constrained than LLMs, but more reliable when used within predefined rules. For a crypto payment platform like ours, agents could eventually assist in payment routing, compliance alerts, or even technical monitoring — anything repetitive that benefits from low-latency automation.

The third area is pattern recognition, where AI’s value is most proven. We see strong potential in using it to support fraud detection and ML/TF screening — not to replace human oversight, but to enhance it. Spotting unusual activity, flagging anomalies, or refining transaction scoring — these are all areas where AI can quietly but meaningfully improve risk management.

That said, we’re also realistic about the limits. With the EU AI Act now on the horizon, every integration has to pass the test of explainability, compliance, and accountability. Any system we deploy will need a clear inventory, GDPR alignment, risk assessment, and, in some cases, staff training. We’re already looking into how these rules will apply — especially as we explore the potential of agent-based systems.

So yes, we’re enthusiastic — but we’re moving deliberately. We’re not building AI from scratch, but we are actively exploring how to apply it in meaningful ways — both internally and within our services. Our business development team is already using tools like ChatGPT in their day-to-day work, and we see real gains in productivity and clarity. That’s the direction we’re leaning into: using AI where it helps people do their jobs better, not just to check a box.

 

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Finrax has built a strong reputation for reliability and speed – processing crypto payments in under a minute. What differentiates your platform from other solutions currently available on the market?

Reliability is the real star here. Speed is expected in blockchain-based systems — but combining that speed with stability, predictability, and regulatory clarity is a much harder problem to solve. That’s exactly where Finrax delivers.

We’ve built a platform that doesn’t just move fast — it does so in a way businesses can actually depend on. We offer fixed-rate settlements to remove volatility, giving partners certainty about what they’ll receive. That’s especially important in high-volume environments, where financial precision matters just as much as transaction speed.

Compliance is also baked in. Every transaction goes through full AML/CTF screening, and our onboarding and monitoring standards are designed to meet the expectations of regulated businesses. That’s not a side feature — it’s part of our foundation.

And while many of our clients have international operations, we’re careful to operate only where we’re permitted to do so. With MiCA coming into force, we’re preparing to scale responsibly, aligned with the new rulebook.

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So yes, we’re fast — but more importantly, we’re reliable. And in this space, that’s what truly sets us apart.

 

What opportunities do you see in the field of eCommerce for a crypto-first payment provider, and what role could Finrax play in shaping the future of online payments?

Crypto is here to stay — and with that in mind, we’re building the tools to help eCommerce businesses accept crypto as naturally as they would any traditional payment method. Our goal at Finrax is to provide plug-and-play solutions that allow online stores across the EU to accept payments in stablecoins or major cryptocurrencies without having to rethink their entire checkout process.

The opportunity goes beyond retail. We see strong potential in industries like logistics, aviation, luxury, and of course, gaming platforms — areas where cross-border payments, speed, and transparency really matter. That said, everything still depends on how quickly users adopt crypto in their day-to-day transactions.

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What gives us optimism is the direction regulation is moving. With MiCA coming into effect in the EU, we’re finally getting a clear rulebook — and that’s exactly what’s needed to build trust. Once customers know that only licensed, properly regulated providers can offer these services, it changes the perception. It brings structure to the market — and with structure comes wider adoption.

At Finrax, we’re preparing for that shift. We don’t just want to be ready for the future of payments — we want to help shape it in a way that’s both efficient and trusted.

 

As the world becomes increasingly automated, how do you see Finrax maintaining a balance between innovation and user-centric service, especially amidst the fast-evolving tech and regulatory landscapes?

Automation, at its core, is about efficiency — but that doesn’t mean we lose sight of the human side. In fact, I’d argue that smart automation should strengthen customer-centricity, not weaken it.

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At Finrax, we see automation as a way to free up our people to focus on what actually matters — understanding the client’s real needs, solving problems, and making sure the experience feels consistent and supportive across the board. It also helps us align internal processes more clearly, so that we’re not sending mixed messages to clients. That’s often where customer frustration begins — not with the technology, but with the gaps between systems and people.

Another benefit is the ability to understand customers more precisely. With better data and well-designed workflows, we can respond faster and more accurately, without adding friction.

But none of this can come at the expense of trust. As regulations like MiCA, GDPR, and the EU AI Act begin shaping the environment, it’s clear that automation must be explainable, compliant, and ethically sound. For us, innovation isn’t just about what’s possible — it’s about what’s responsible. And we see that as a competitive advantage, not a constraint.

 

You’ll be joining the panel “Beyond the Hype” at MARE BALTICUM, discussing blockchain and AI applications in finance and governance. What are you most looking forward to sharing with the audience –  and what do you hope to take away from the conversation?

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A lot of the hype around AI comes from not really understanding how it works — and I think it’s important to go back to the basics. Most people still assume these systems “know” things. But in reality, large language models are built by training on massive volumes of data — much of it containing human bias, errors, or even outright misinformation. They don’t reason. They predict. They break down language into tokens and map those tokens across hundreds of abstract dimensions — far beyond how we perceive space — then generate output that mimics meaning, even if it’s not grounded in real understanding. But it’s not grounded in fact unless you make it so.

Even the best models will produce an answer to almost anything — even if that answer is fabricated. That’s why we see hallucinations. Unless you know how to prompt properly and critically assess the output, the result might sound confident while being completely off. This is why I always say: at this stage, AI should be seen as an assistant, not an authority. The human must remain in the loop — and at the top.

That said, the future isn’t bleak — it’s exciting, if we use these tools responsibly. One example that stands out to me is what Stripe recently did. They trained an AI model not on words or code, but on tens of billions of payment transactions. The model learned the “language” of money — identifying how payments behave, how fraud patterns look, and what hidden connections exist between different data points. The result? They went from detecting 59% of sophisticated card testing fraud attempts to 97% — almost overnight. That’s not just a technical win — it’s a complete shift in how we think about structured financial data.

So on this panel, I’m hoping to bring two things to the table: first, a grounded reminder that no model is infallible, and second, a practical optimism. AI has the potential to make finance faster, smarter, and safer — but only if we stay thoughtful about how we design, train, and regulate it. Humans should come first — but we don’t need to fear the future if we build it wisely.

 

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Meet Konstantinas Balakinas and the Finrax team live at the MARE BALTICUM Gaming & TECH Summit 2025 on 27–28 May in Vilnius.

🔗 Register now to learn more about blockchain-powered finance, crypto innovation, and the real tech shaping tomorrow’s payments.

The post Modern Oracles & Smart Payments: Finrax’s Vision for Blockchain, AI & Beyond appeared first on European Gaming Industry News.

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Are No Deposit Free Spins Worth It? A Chat With Paul Puolakka, CMO of Mr. Gamble

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No deposit free spins are one of the hottest bonuses in online casinos. Players love them, but some casino operators aren’t so sure.

Are they really valuable, or do they just attract people who never plan to deposit? To get some real insight, we caught up with Paul Puolakka, CMO of Mr. Gamble, to break down the truth behind no deposit free spins and how casinos can use them to their advantage.

Paul’s been in the iGaming industry since 2014, bringing over a decade of experience across major brands like Betsson, ComeOn!, and Ninja Casino. Over the years, he has consulted a range of iGaming companies on everything from affiliate marketing and localization to optimizing sales funnels.

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Since 2020, Paul has been active on the affiliate side, running his own successful projects before joining Mr. Gamble, where he has served as CMO for the past two years. His well-rounded expertise gives him a unique perspective on both the operator and affiliate sides of the business.

 

Paul, no deposit free spins seem risky for casinos. Why should they offer them at all?

Yeah, I get why some casinos are skeptical. Giving away free spins with no deposit sounds like a recipe for attracting players who just grab the bonus and run. Some do, sure. But casinos that dismiss these bonuses are missing the bigger picture.

When a player claims free spins no deposit offers, the casino gets something just as valuable as money: data. They collect the player’s email, name, birthday, and other demographic details. That’s marketing gold. Even if the player doesn’t deposit immediately, a well-structured CRM funnel can bring them back later. So, instead of seeing free spins as a loss, casinos should see them as an investment in long-term customer acquisition.

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If these players aren’t depositing upfront, how can casinos turn them into paying customers?

It all comes down to smart retention strategies. Too many casinos focus only on First Time Depositors (FTDs) and ignore long-term potential. Just because someone doesn’t deposit on day one doesn’t mean they won’t deposit later.

Here’s how casinos can convert no deposit players. First, send a special deposit offer a few days after they claim their free spins. Then, give them a VIP loyalty boost to make them feel special. Lastly, use personalized retargeting ads based on their game preferences.

Casinos that overlook CRM and loyalty tactics are throwing away a huge opportunity. The best ones know how to nurture these players and turn them into long-term customers.

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Are there certain markets where no deposit free spins work better?

Definitely. We see big success with no deposit casino bonuses in Nordic countries, Canada, and parts of Europe. Players in these regions tend to be more cautious with their money, they want to test a casino first before making a deposit.

Also, in markets with strict advertising regulations, no deposit free spins are a smart way to attract new players. If a casino can’t run aggressive marketing campaigns, offering free spins gives players a reason to check them out organically.

 

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What are the biggest mistakes casinos make with no deposit bonuses?

The biggest mistake? Focusing only on FTDs. Many casinos judge success only by how many players deposit right away. But that’s short-term thinking.

Instead, they should track how well their CRM funnel converts no deposit players, the percentage of these players who deposit later, and how loyalty programs keep them engaged.

Another major mistake is making withdrawal conditions too harsh. If a player wins from free spins but sees impossible wagering requirements, they’ll get frustrated and leave forever. A better approach would be to offer reasonable terms so players stay engaged and are more likely to deposit.

 

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Should casinos rethink how they value no deposit players?

Of course! Too many operators dismiss these players as low value, but that’s the wrong mindset. In such a competitive industry, even getting a player’s contact information is a win.

If casinos invest in a strong CRM strategy, a well-optimized loyalty program, and easy payment methods, they can turn freebie hunters into loyal, depositing players. No deposit bonuses aren’t just giveaways. When used correctly, they’re one of the best acquisition tools.

The post Are No Deposit Free Spins Worth It? A Chat With Paul Puolakka, CMO of Mr. Gamble appeared first on European Gaming Industry News.

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Dr. Eyal Loz Chief Product Officer at RubyPlay

Built for the branded reality – RubyPlay’s high velocity approach to the US market

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With localisation, speed to market, and cross-state scalability at the heart of its strategy, RubyPlay is proving that relevance—and results—come from understanding both the player and the moment. Dr. Eyal Loz, Chief Product Officer at RubyPlay, discusses the company’s fast growing US presence and how its agile, insight-driven approach is resonating with players and operators alike. From crafting bespoke branded content to rolling out favoured mechanics with modern twists, RubyPlay is positioning itself as a key partner in the evolving iGaming landscape.

 

Just a few months into RubyPlay’s US journey, how has player response shaped your perception of the market? And how will these insights shape your roadmap going forward?

We see very strong player preferences to games that combine a Hold and Spin mechanic with perceived persistence. We also see that American players respond well to classic themes with a clear modern flavour. None of this was very surprising, as we are very well tuned with the preferences of players in America. The RubyPlay offering was always optimised for American players, and it’s nice to see that our roll out is working so well, as we expected it to.
We also explored a handful of innovative mechanics that are less prevalent in traditional land-based casinos, and we are happy to see that these were also well received.

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Titles like Mad Hit® Diamonds and Diamond Explosions 7s® SE are a few of your early standouts. What do you think is making these games click with the US audience compared to other markets?

These two titles are solid performers in all markets, so we had high expectations to see these perform very well with American players. Both these mechanics have all the elements that make for a strong US title – Hold and Spin, perceived persistency, Buy Feature and a solid art package with a classic yet modern feel.

 

The US iGaming market is unique, not just in regulation, but in how players engage with content. How does your strategy for the US differ from other global regions and how do you maintain global competitiveness while staying locally relevant?

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It’s important to remember that top performing mechanics tend to transcend time and space. Hold and Spin mechanics have performed well in almost all markets since they were introduced over 10 years ago. What makes a specific game more relevant to one specific region is the theme and flow of the game. For example, games featuring mahjong tiles will perform well in South East Asia but will not perform to the same level of success in the US. Similarly, games with strong Egyptian themes will not perform in Asia but have a good potential in the US.
RubyPlay’s superpower is in our velocity and adaptability. We are able to identify opportunities with operators to support their brand identity and create specialised bespoke content for them, taking into consideration elements such as the relevance of that theme to the market, and the brand of the operator. We live in a branded reality, and we consider our client’s brand a top priority.

 

You’ve spoken about empowering brands through strong partnerships. How do you approach collaboration in the US market to ensure both RubyPlay and its partners succeed?

Brands are a lifestyle in the USA. We have to understand this first in order to reach the audience in the way that our US partners take as second nature. By focusing on building high velocity, we are able to create relevant bespoke content for our partners that is unique to their needs.

Velocity is really important because branding opportunities don’t last very long. When a client negotiates a collaboration between their brand and a 3rd party, the deal will always close very late and will not last very long. Our ability to be in tune with the reality of such short deliveries on tight schedules, measured in weeks, not years, has given us a disproportionate advantage.

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We have a stronger awareness of special events, whether sports, holidays, or cultural, and our responsiveness allow us to always stay relevant through our portfolio or bespoke content with the timings of such events in mind.

 

What role does localisation play in your expansion strategy?

Localisation is absolutely crucial. As I mentioned before, the combination of a robust and large variety of game mechanics, combined with the ability to minimise time to market thematically, we are able to always stay relevant to new markets we started operating in. When entering a new market, it’s hard to predict what is going to work, so building velocity, and keeping an open mind is key.

 

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With more states opening up, how is RubyPlay preparing to scale its presence across the country? Any new or upcoming experiences or innovations players and partners can expect this year?

We are well on our way to enter Pennsylvania and West Virginia as we are well aware that US. operators are heavily focused on a cross-state strategy regarding promotions. If we can support this by having the top states, we ensure a stronger and more effective experience for players with branding in mind. After all, markets are one of the most important product features.

Other than that, we are planning to roll out our Awarded Feature with many of our direct clients. This will allow operators to award the Buy Feature for free via a back-office campaign. We saw this can be very effective in branding, retention and acquisition, and allow operators to either award players with the best part of the gaming experience, or up-sell promotions via their CRMs.

I’m very excited to see the impact the Awarded Feature will have with our partners on all areas of their business.

The post Built for the branded reality – RubyPlay’s high velocity approach to the US market appeared first on Gaming and Gambling Industry in the Americas.

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