Interviews

Exclusive Q&A with Sujit Unni, Chief Technology Officer at Paysafe

Published

3 years ago

October 4, 2021

Reading Time: 8 minutes

How important are payment methods and speed of payment processing important for customer experience in online sports betting?

We talked with Sujit Unni, Chief Technology Officer at Paysafe, which had conducted a survey among US punters. He provided insightful and detailed answers on this and several other questions.

Read on for some fascinating perspectives on the past, present and future of the payment process and its role in online sports betting.

Q. Let’s start with the recent survey that Paysafe conducted among US sports bettors. What are the key takeaways from the survey?

A. Here are some of the conclusions we came to after surveying sports bettors in eight regulated US states:

Available payment methods influence players’ decision to use a brand: To fully capitalize on the growing opportunity of online sports betting, sportsbook operators should strongly focus on the player experience at the checkout. The payment methods that are available and the security of said methods are critical for players when it comes to evaluating which brand they choose to place their bets with.

Transaction security factors highly into choice of sportsbook: When asked to identify which criterion was most important when depositing funds with a sports-betting brand, bettors said the security of the transaction was more important than any other characteristic.

Easy and fast payments are critical: Just as important to players is the speed and ease with which they receive their winnings when they wish to cash out. According to four fifths (79%) of US sports bettors we surveyed, they have a negative impression of the sportsbook when their expectations related to cash out speeds aren’t met. This can result in the sportsbook taking a large reputation hit. A poor reputation spreads among players and can result in a significant brake on its growth.

The online sportsbooks themselves must be fast and efficient: It’s important to make sure the sportsbook’s payment platform is moving quickly and efficiently. The easier it is for a player to access payouts, the more likely they will be to continue using the platform. Those who adapt to these demands will position themselves well for significant growth.

Q. Everybody talks about the speed of payments. How does speed factor into the mobile process as a whole, and how does it contribute to the overall success of an online business, especially an iGaming business?

A. iGaming is changing more rapidly right now than ever before. Mobile’s role in this evolution is huge, given apps’ potential for speed and the strong relationship we’re able to build with end-users: We’re right there, in their pockets, whenever they pick up their phone.

But proximity alone is not enough. End-users will grow bored or burnt out if their experiences are slow, or if we’re not constantly offering new experiences and improving what’s already available.

Increasing the speed of our processes and the user experience is critical in that every second of load time anywhere within the app literally costs every company money, especially in iGaming, which is less of a considered purchase than traditional mobile shopping or eCommerce. iGaming customers are making fluid, real-time decisions; the more time they have to wait to get to the next step, the less patient they become and the more likely they are to drop off.

Speed is a function of many factors, and there are a number of processes that power the payments experience. We work with mobile DevOps platform Bitrise to increase the speed of all of the mobile processes that power the user experiences leading up to and including payments, as well as the behind-the-scenes operational processes that influence our ability to release updates to the app stores more frequently and faster.

The payments part of the mobile process is a particularly expensive place to be slow. Out-pacing competitors in that process is what’s creating the winners in this space.

Q. What are the ways by which Paysafe tries to accelerate its mobile processes and e-payments?

A. If you look at it from a very high level, the two primary ways we accelerate our processes and e-payments are through having the best talent and technology.

We stay competitive on the talent side by attracting and – just as importantly –

retaining the best people in the world in this space. We have been able to build on their expertise to constantly improve the speed at which we deliver value for merchants and consumers alike.

When you are investing in this level of talent, it’s important that you are not wasting their skills on things like troubleshooting, waiting around hours to test builds, or doing manual fixes to problems that could be automated. So, on the technology side, our mobile engineering teams use Bitrise to test all new code, reduce build times from hours to minutes, identify issues that might interfere with the user experience, and so on, before submitting releases to the app stores.

Our goal is to always do everything as fast as possible, without sacrificing our standards of quality and security.

Q. It looks like the ‘slow and steady’ will not win the races anymore. But could the focus on speed–especially in payment processing–be detrimental to the fraud-prevention measures?

A. Building on my last answer, it’s imperative to not sacrifice security to save time. I will say that one of the upsides of investing in technology like Bitrise is that it allows us to get the best of both worlds: Speed and security. In our mobile engineering processes, for example, Bitrise allows us to automatically run a number of security tests and checks that were previously slow, manual labour. Now they take up less time, are more consistently executed, and actually free up the team to work on innovations for our merchants and consumers. That’s not to say that there aren’t manual checks involved anymore, but those are fewer and more meaningful.

Q. Could you talk about the recent innovations that Paysafe brought to the payments ecosystem?

A. Given the nature of our business we are constantly evolving our value proposition and anchor around our philosophy of customer outcomes. We tend to think of innovation around key pillars including:

Evolving our business to be a true cloud-based platform that supports multi-sided markets. This allows existing customers and merchants to access new features and stay engaged with our platform. The recent introduction of Openbucks, a product that allows store gift cards to be used at point of sale at other merchants in the Paysafe network, benefits customers who can now use restricted gift cards across a wider merchant base, and allows our merchants to accept a non-traditional payment method.

Building out hybrid-business models with the wider finance eco-system through the launch of capabilities like pop-up banking with traditional banks like TSB. While serving as a revenue stream, this also allows banks like TSB to optimize their branch footprint and enables customers to access simple transactions using the Paysafe network.

We have also spearheaded a suite of embedded finance offerings with partners like Amazon and Google. Our offerings of cash to digital, digital wallets and processor agnostic payment methods makes us one of the few firms that can offer industry specific open loop and closed loop solutions.

Q. Allow me now to bring a customer perspective. What benefits do companies, especially those in the iGaming sector, gain from integrating the accelerated payment solutions of Paysafe?

A. Given our “born in gaming” origins, we believe we are one of the few payment platforms in the market that has a full suite of solutions to support both store based and online operators. This means our combination of brick and mortar, wallet, and cash solutions allow customers to seamlessly transact and play across the in-store and online offerings of our gaming merchants.

Solutions like our single integration API give our gaming merchants access to payment processing platforms that are accessible in multiple geographies through different processors, a host of local payment methods and a global network of banks. This in effect improves the customer experience and reduces revenue losses from declined transactions.

Effective risk and fraud management is a key differentiator, given the deep expertise and geographical coverage we provide the industry. Our investment in our risk and fraud infrastructure protects both merchants and customers while ensuring a seamless payments experience.

Q. The new technologies in the payment space have blurred the boundaries of national currencies to an extent. What are your thoughts on the influence of the laws and regulations of different countries on the growth of payment processes, especially for a highly regulated industry like iGaming?

A. The world is definitely a smaller place from a payments perspective today than it was five or six years back, largely enabled by the rapid adoption of disruptive technologies like blockchain, API driven ecosystems, and standardization of messaging services.

Like any financial service, payments are heavily influenced by regulation – and fortunately in a good way for the most part. Governments have been quick at recognizing how critical a scalable and democratized payments infrastructure is to drive economic growth and, as a result, we see regulation being enacted in in many markets. This is helping build out global payment ecosystems – for instance, UPI in India, Open Banking in Europe, or FedNow in the US. As this ecosystem continues to evolve, we see the emergence of trends like pay by bank and local payment methods continuing to grab market share from the card schemes, which will benefit both consumers and merchants.

iGaming is still in its infancy and, in certain markets like the US, can ride this wave of an open payments ecosystem to provide a far superior experience to its customers. Regulation in gaming is still evolving and it will look to more mature markets in Europe for insight as it starts to put in place legislation for the industry. Paysafe is leveraging its established presence in the EU to bring insight and product offerings to the US market that allow our gaming partners to not only grow their business in line with established legislation but also to build and offer products that consider future legislation that we think could be enacted.

Q. What is your take on the growth of mobile payments over the last few years?

A. Smartphones are a part of our daily lives today and are to a large degree considered indispensable. In the few years leading up to the pandemic, we were already seeing steady growth in mobile payments. The onset of the pandemic accelerated that growth by as much as 75% in some segments.

Some of the key drivers are:

The influence of digital transformation: As industry sectors, particularly financial services, have increasingly been disrupted and transformed, the mobile phone has emerged as an important customer engagement channel. As customer behavior matured to using mobile phones as a transaction medium, the need to support payments drove adoption.

The rise of emerging digital economies: The other big influence was the rise of emerging economies. India, for example, had a head start in becoming a digital economy with its population armed with mobile phones before they even had access to desktop computers. Countries like India that are supported by digital friendly government regulations, have a large unbanked population and an industry that’s very willing to provide payment and banking solutions, witnessed exponential growth in mobile payments.

Apps, wallets, and subscription services: As the number of apps hosted on Apple and Android platforms grew, people are increasingly using mobile phones to purchase a range of services, from buying tickets to ordering rides and subscription services. This adoption led to the creation of a full payment supportive ecosystem, including wallets (Apple Pay, Google Pay, and our own Skrill digital wallet, among others) and emerging payments volumes driven by a growing library of subscription services.

Payments continue to become easy and reliable: Having a credit or a debit card used to be the only way to make a payment on a mobile phone. However, payments have evolved to keep up with the emerging digital landscape. Today beyond these traditional payment methods, customers can pay with their bank accounts, cash, and by using over 200 local payment methods specific to geographies –which has democratized payments. That coupled with regulation to promote open banking systems and reliable real-time payments as well as faster payment infrastructure has helped drive the surge of mobile payments.

Increasingly secure and safe transactions: Wherever there is a financial transaction there is also the risk of fraud. Because of this, mobile phones have evolved to continually make transactions both convenient and safe. Whether it’s by using face ID, biometrics or contactless payments, the ability of the manufacturers to deliver secure payments was critical in driving the wider adoption of mobile payments.

Q. Let’s conclude with something about the future. Could you reveal some of the changes that you foresee coming in the mobile space? What about the payments sector?

A. With app store operators seeing pressure from governments around the world to loosen their grips on the mobile ecosystem – especially in terms of payments – we expect to see some massive changes soon.

Alternative app stores that allow more app choices for end-users and more payment processing choices for app store publishers are benefitting both merchants and consumers.

Additionally, we expect the consumer’s need for speed to increase even further, widening the divide between those businesses that can deliver on this expectation and those that can’t.

We’re confident that, between the talent of our team and partners like Bitrise, we’ll land on the right side of that divide.

eSports

eSports in the CIS region , Q&A w/ Viktor Block, Senior Sales Manager/PandaScore

Published

8 hours ago

April 16, 2024

George Miller

esports-in-the-cis-region-,-q&a-w/-viktor-block,-senior-sales-manager/pandascore

Reading Time: 5 minutes

Esports has long been popular in the CIS region, with various top-tier teams and players all calling it home. How has the landscape evolved over the last few years? Have any particular trends emerged that have surprised you at all?

Esports boomed in the CIS region in 2008 when Multiplayer Online Battle Arena (MOBA) games became really popular. While esports had been a thing as far back as 2003, the rise of games such as Counter-Strike and DOTA2 was a major catalyst for the upward trajectory the sector has been riding ever since. In recent years, the infrastructure needed to support esports has improved drastically across the CIS region, including the construction of the Pixel Esports Arena in Minks, Belarus, and the Cyberspace Arena in Almaty, Kazakhstan, both of which hold top-flight contests. Internet connectivity has also improved, while support from local and international sponsors such as Monster Energy, Red Bull and War Gaming have provided funds for further investment while also driving awareness. Ultimately, this has seen the landscape evolve into a thriving industry with lots of opportunities for further growth.

In terms of trends, and especially relating to esports betting, I’ve been surprised by the high demand for betting on console games – we call them eBattles and they include disciplines such as eSoccer and eBasketball. I think this is just a natural development that has occurred off the back of strong demand for video game content, which is often the bridge between traditional sports and esports.

What factors have contributed to esports’ growth in the CIS over the past few years?

One of the biggest factors for me is that teams have become more professional and are now training and playing in well-run clubs. This takes place in dedicated buildings and rooms, set up with high-speed internet and the absolute best gaming equipment. Player salaries have also gone up, which has increased the calibre of players taking part in contests across the region, taking competitiveness to the next level. Today, many CIS players now play for high-ranked teams such as Virtus.pro, Team Spirit, Betboom or Na`Vi which compete on the international stage. This in turn is helping esports grow across the CIS region.

Given how many countries are in the CIS region, can you walk us through some of the biggest regulatory differences when it comes to betting on esports? And how does PandaScore navigate these changes?

The legality of betting and esports betting differs from country to country within the CIS region. Some are super strict or even prohibit gambling, while others take a more liberal approach, regulating the activity and licensing operators. Let’s take a look at some of the biggest markets and their approach.

In Ukraine, esports has been recognised as a sport since 2018 and in 2020 the country regulated and licensed gambling for the first time. The law focuses mostly on standard betting – sports and casino – but is likely to also include esports betting given that esports is a recognised sport in the country with tier-one Ukraine sportsbooks like Favbet and Parimatch offering it to their players.

Kazakhstan has a growing gambling industry with betting shops and casinos operating in major cities such as Almaty and Nur-Sultan. Gambling is regulated by the Ministry of Culture and Sports and while the regulatory framework is somewhat restrictive, sports betting – which is likely to include esports betting – is permitted.

Navigating the constant changes in betting regulation across the CIS region can be challenging, so we make sure to keep up to speed with the latest developments by monitoring legislative updates and amendments to regulatory guidelines. We also track industry trends and best practices to anticipate regulatory changes ahead of time, allowing us to adapt quickly if needed. This can involve benchmarking against competitors, attending conferences and networking with key stakeholders.

In your view, are there any unique opportunities for the expansion of esports and esports betting within the CIS region? And how does this differ to other regions?

It’s important to understand that CIS, especially Ukraine and Kazakhstan, play by their own rules. By that I mean they are very different to other esports markets, so don’t think what works in Italy will work in Ukraine. For example, while League of Legends is very popular in Europe, in CIS, it’s Dota 2 that takes the top spot. But for those who can understand the region and each market, there are plenty of opportunities to explore.

Let me elaborate. Dota 2 is thriving in the broader CIS, with regular tournaments and events attracting large audiences both offline and online. teams like Natus Vincere (Na’Vi), Virtus.pro and Team Spirit have achieved significant success in Dota 2 competitions, contributing to the game’s popularity in the region. While Dota 2 is big, other video games also enjoy significant popularity, including CS2, World of Tanks and Fortnite among others.

Operators need to consider this when deciding their markets and odds, marketing strategies and plans for player engagement.

What would you say is the key to creating a successful esports product for a CIS audience?

Understanding layer preferences in each market and delivering an experience that exceeds their expectations. For the CIS region, this means focusing on Dota 2 – this is a game that offers deep and strategic gameplay requiring teamwork, communication and skilful execution of plans and strategies. Its competitive nature appeals to gamers as they enjoy the challenge of multiplayer experiences – this goes back to the original MOBAs back in 2008. These factors must be present in the esports betting experience offered to players – at PandaScore, this means a comprehensive Dota 2 offering that covers markets such as Kills, Towers, Roshans and Barracks, with players able to challenge themselves in a betting competition against others.

Support is also key to delivering a quality player experience. We offer round-the-clock assistance and are regularly rolling out updates to improve the experience players receive when betting on esports at sportsbooks using our data, odds and betting tools such as our Bet Builder. We are always working hard to expand our offering to cover the most in-demand games including CS2, Valorant, Call of Duty and many more.

What trends or developments do you anticipate shaping the future growth of esports in the CIS region over the next few years?

The industry will continue to grow and become more professional. Esports is different to traditional sports and it still lacks recognition in some markets, even though it is considered an official sport in a growing number of countries across the CIS region. I think as it evolves, more governments will provide more support for esports as it brings tremendous economic, cultural and social benefits. This could include funding for esports initiatives, rolling out regulatory frameworks, helping to foster partnerships with esports organisations or simply recognising it as a sport.

The continued proliferation of smartphones across the region will be a further catalyst for esports growth. Titles such as PUGB Mobile, Free Fire and Mobile Legends: Bang Bang will attract large audiences and provide new opportunities for teams, players, sponsors and other stakeholders to explore. This is a really exciting time for esports and esports betting in the CIS region, and PandaScore is thrilled to be part of it.

The post eSports in the CIS region , Q&A w/ Viktor Block, Senior Sales Manager/PandaScore appeared first on European Gaming Industry News.

Brazil

Counting Down: A Roundtable Preview of Brazil’s iGaming Era

Published

1 week ago

April 9, 2024

GamingAmericas.com

counting-down:-a-roundtable-preview-of-brazil’s-igaming-era

As Brazil finally gives the green light for sports betting and iGaming, industry leaders are gearing up for a transformative chapter in 2024. In this insightful roundtable discussion, we had the privilege of engaging with key figures, namely Henrique De Simoni (Account Manager LatAm at 3 Oaks Gaming), Massimiliano Vandelli (Head of Sales at ESA Gaming), Denis Kosinsky (VP Operations at NuxGame), Ihor Zarechnyi (CBDO at Evoplay), Jack Smith (Senior Sales Director at Sportingtech), and Roman Bogoduhov (Head of Accounts LatAm at EvenBet Gaming) to delve into the exciting prospects of casino entry into the newly regulated market. Our focus centred on the meticulous preparations undertaken by suppliers, understanding local player preferences, and exploring the collective vision for the future of this burgeoning market.

As the journey to secure the final approval for iGaming regulation in Brazil concludes, what strategies and preparations has your company put in place for the upcoming market launch?

Henrique De Simoni
Despite Brazil’s iGaming market being in its incipient stages, it has transitioned from a rising star to a tangible reality. This regulatory milestone in the largest Latin American country signifies a plethora of opportunities for the entire iGaming ecosystem, spanning from operators to providers.

As a company known for its agility and meticulous attention to detail, we’ve been actively engaging with key events in the region such as SBC Brazil, and SiGMA Americas. By fortifying our network and relationships with major operators, platforms, and aggregators, we’re positioning ourselves strategically for the impending market launch.

Massimiliano Vandelli

The impending regulation of iGaming alongside sports betting in Brazil presents a pivotal opportunity for our company. We’ve meticulously prepared for this milestone by adopting several strategic initiatives. Firstly, we recognise the significance of a diverse portfolio, particularly given the potential exclusion of certain online casino games. Therefore, we’ve focused on ensuring a balanced offering to cater to varying preferences and regulatory requirements.

Localization lies at the core of our approach. Brazil’s vast and distinct market demands tailored solutions, encompassing language support, minimum bets, and game types that resonate with local preferences. Additionally, understanding the nuances of player behaviour, such as volatility preferences, is crucial for delivering a compelling gaming experience.

Furthermore, leveraging our existing partnerships with established operators positions us strategically in capturing a substantial market share. We have a track record of success with these operators, and collaborating closely with them not only strengthens our market presence but also facilitates smoother market entry.

Ihor Zarechnyi
Evoplay’s business strategy after the final approval of iGaming regulation in Brazil will involve forging key partnerships to strengthen our position in the Latin American market.

With Brazil’s population surpassing 215 million and the local audience’s passion for entertainment, our diverse game portfolio is calibrated to cater to their preferences. Our overarching goal is to replicate and surpass the success we’ve already achieved in Latin America. We focus on enhancing the gaming experience of Brazilian players by addressing their entertainment requirements.

Denis Kosinsky
As for all new market entries, our strategy for Brazil consists of compliance, localization, partnerships and innovation. Much like Europe, Brazil is a highly fragmented market and each state should be approached on a case-by-case basis. We are customizing our platform for Brazilian players by adapting to the culture in terms of language, local payment methods and games that resonate locally while our multi-brand feature can be used by casino operators to manage different geos. We’ve also turned our attention to forming partnerships with Brazil-based companies, enabling us to both broaden our reach and enhance our offering.

With smartphones dominating as the preferred device for iGaming, we’re optimising our tech’s mobile compatibility for a superior experience. In addition, our marketing efforts are tailored to engage Brazilian audiences through localized content and community events. As Brazil finalizes its iGaming regulations, NuxGame is ready to deliver a comprehensive and culturally attuned gaming experience.

Jack Smith

We have recently seen that the Brazilian government has now officially recognised GLI as a certified testing lab. As part of this we have made continued efforts to conform to GLI 19 and GLI 33 which are synonymous with other markets on a global level. In addition to that we have also been working closely with Serpro on data transfer requirements.

In terms of strategy, our stance remains the same as always. We are focused on collaborating with our operators to ensure that we give them all of the technical tools and capabilities to harness their own local expertise and continue to be successful. This is crucial in what will likely be a very competitive market.

Roman Bogoduhov

The country is still at the early stages of regulation, so setting rules and transforming them into business practices will take several long and hectic months. Traditionally, online poker is not the first vertical to be regulated, and this is the case for Brazil as well: our turn will come after sports betting and online casino games. What we are doing now is a lot of homework and preparation: connecting with the market stakeholders, getting to know the player preferences, specific market challenges, and software demands.

Product localisation and customisation are at the core of the EvenBet Gaming platform, and our offering has to be ready for the market launch. So, our business development team explores the market and identifies the features and solutions needed by the Brazilian operators and players, so that we can adapt our product to their needs.

Also, it’s crucial to mention that the Brazilian iGaming community is quite closed and somewhat wary towards foreign vendors and providers, preferring to establish partnerships with companies that demonstrate a proven success record in the local market. While regulation moves forward, we can take it slowly, creating fruitful relationships, showcasing examples of our partnership with operators in South America and educating the market on the business strategies allowing us to earn on poker.

In anticipation of the iGaming launch, which specific verticals do you believe will capture the hearts of local players, and have you identified any unique preferences or trends that are shaping your approach?

Denis Kosinsky
As part of our continuous improvement strategy, NuxGame conducts regular market research and player feedback analysis to tailor our offering and stay ahead of the tech curve. With our aims of delivering a diverse, engaging, and secure gaming environment that aligns with local player preferences, we have identified key verticals that are poised to captivate local players.

Mobile gaming is one of the largest growing trends worldwide and Brazil is no different. NuxGame’s platform has optimized games to present a seamless mobile experience, catering to this increasing demand. Looking at specific genres, live dealer games perform particularly well in Brazil. For these titles to flourish moving forward, it is important to ensure that there is a Portuguese-language option in addition to high-quality live streaming and a diverse array of experiences to engage as many players as possible. Brazil is also a large adopter of cryptocurrency and blockchain technology. NuxGame’s Web3 technology and cryptocurrency purchasing feature position us to leverage these technologies for secure and efficient gaming experiences.

Ihor Zarechnyi
Initial findings from Brazil reveal a strong preference among the local audience for online casinos and sports betting. Based on third-party market research, it appears that Crash games capture the attention of 79.61% of Brazilian players. Following closely behind are slots, with a significant 39.83% engagement. Leveraging these data and our experience in the LatAm market, we’re confident that Evoplay’s diverse game portfolio, particularly our sport-themed titles, will deeply resonate with this audience.

However, despite our solid foundation, we remain committed to further understanding the local business culture and refining player communication approaches for strategic success. We’re actively developing exclusive projects like Slotopia and Bingo to enrich our offerings and cater to diverse player demographics.

Roman Bogoduhov

Undoubtedly, sports betting will stay the top online vertical in Brazil. As the market expands, new technologies and advanced solutions are coming to the country, online sports betting has a chance to become more prominent than offline, thanks to live bets, mobile access, and fast and secure payments which become available as the regulation settles.

Traditionally, the lottery is the second most popular gaming activity. Still, the state has a monopoly here, so the operators and vendors will demand lottery-like games: bingo, scratch games, keno, etc. Live casino games, card games (including poker and blackjack), and new trends like crash games will follow the leaders.

Jack Smith
As we know in most established markets there is a traditional split between sports betting and casino with Brazil unlikely to differ. Brazilians have a huge affinity with Soccer and that is not going to change anytime soon with more operators vying for sponsorship opportunities with its biggest clubs.

The inclusion of iGaming into the bill was hugely important as well as this represents a sizeable piece of the market. The likelihood is that we will likely see this continue to grow through traditional live dealers and crash games which have proven to be popular in the region as well.

At Sportingtech we recognize iGaming’s importance, hence why we are continuing to partner with local games providers to supply fresh new casino content that we feel will identify with the consumer. It remains to be seen how the landscape will change in the future but as always, our teams will continue to research the market and look for new innovative products to satisfy Brazilian players.

Massimiliano Vandelli

We foresee a diverse landscape of gaming verticals that will resonate with Brazilian players, driven by both traditional and innovative content. One area of particular promise lies in non-traditional games, such as crash games, which have demonstrated considerable appeal across Latin American markets. Our EasySwipe portfolio, in particular, stands out as a compelling offering for sportsbooks seeking to diversify into casino games. For instance, games like Goal Mine World, which allows players to personalize their gaming experience by selecting colours associated with the Seleção Canarinha (Brazilian national team), are tailored to resonate with local tastes.

Our widget integration within sportsbooks has already yielded remarkable results, fostering player loyalty and facilitating seamless cross-selling between sports and casino content. This underscores the importance of delivering fast and engaging casino experiences that complement sports betting activities.

While sports are expected to drive significant engagement, the initial interest from online operators targeting the Brazilian market indicates a growing demand for high-quality casino content as well. In response, our latest line of video slots, featuring titles like 12 Deadly Spins and Candy Drops, is poised to captivate avid casino enthusiasts seeking immersive gaming experiences.

Henrique De Simoni
Absolutely! With our company’s wealth of experience in the iGaming industry, I’ve been entrusted with spearheading our efforts in LatAm, particularly in Brazil. Understanding the local culture, speaking the language, and possessing a background in the B2C sector allows us to infuse our offering with user-centric experiences for enhanced player engagement.

I firmly believe that cross-selling will be the primary vertical to target. Seamlessly transitioning players from the sportsbook to casino presents a golden opportunity, especially in a country where sports hold significant cultural sway. While crash games have made initial waves, we anticipate slots to take centre stage in the long run. Our successful slot title, Coin Volcano, with its captivating theme, user-friendly gameplay, and vibrant graphics, exemplifies the high-quality gaming experiences we’re aiming to deliver in the market.

What are your overarching expectations for its trajectory? Are there specific milestones, challenges, or growth indicators that you foresee shaping the landscape in the coming years?

Massimiliano Vandelli
Looking ahead, we anticipate various challenges and growth indicators that will shape the trajectory of our operations in Brazil. Regulatory developments, including the implementation of iGaming legislation and associated licensing frameworks, will significantly influence market dynamics and operator engagement. Furthermore, evolving player preferences and market trends, such as the integration of sports and casino content, will present both opportunities and challenges for our growth strategy.

Primarily our aim is to secure significant exposure for our games with leading operators in the market. To achieve this, we are committed to fostering and strengthening our relationships with major partners in Latin America, who are poised to play a pivotal role in the market. We’re exploring opportunities for exclusive partnerships, developing sports-driven content, and creating bespoke games tailored to the requirements of major operators. By prioritizing localization, we aim to enhance player engagement and drive adoption of our offerings across the Brazilian iGaming landscape.

Jack Smith
Given the strong interest by what feels like the majority of the iGaming industry, it’s fair to say that everyone sees the growth potential in Brazil over the coming years. Research suggests that revenues will reach $2bn in 2024 and a projected market volume of $4bn by 2029. If those projections were to be correct, Brazil would solidify itself as one of the largest markets globally.

There aren’t specific milestones we are working towards but the continued increase of internet penetration in Brazil will play a crucial role in the development of the online gambling market. Smartphones are becoming more cost effective and available to everyone, and with the incoming legislation we will see the introduction of native apps to the iOS and Google Play stores. This will add an additional layer of convenience to the consumer.

There is also the retail opportunity, which has been hidden in plain sight for a number of years, so it will be interesting to see whether operators transition into retail to penetrate players who are limited to cash only transactions.

Ihor Zarechnyi
With the market’s upcoming launch, we anticipate a notable surge in activity. However, like any new endeavour, this journey may be accompanied by challenges and will require thoughtful, well-balanced actions from regulatory authorities and market participants.

We maintain a positive outlook based on predictions that Brazil’s online sports betting, casino, and bingo market could soar to nearly $3 billion in revenue by 2027, positioning it among the world’s leading markets.

As we navigate rapid growth, it’s important to acknowledge the potential risks, including market overheating. However, armed with a robust strategy and a line-up of games that culturally connect with Brazilian players, we’re well positioned for success in further solidifying our standing in the LatAm market.

Henrique De Simoni
The average Brazilian spends over nine hours on the internet per day, signalling a profound digital presence ready for exploration. As such, we’re poised to leverage this extensive online engagement by ensuring our high-quality games, coupled with robust gamification elements, provide unparalleled slot experiences.

In anticipation of numerous new entrants and potential mergers and acquisitions in the market, we’re gearing up for increased competition. With over 134 companies vying for licences in Brazil, each capable of operating three platforms, the landscape is primed for expansion, with an estimated 402 regulated betting sites anticipated. Despite the challenges ahead, we’re optimistic that our expertise and ability to resonate with the Brazilian audience will set us apart. The best is indeed yet to come!

Roman Bogoduhov

Now the Brazilian iGaming market is shaping, and once the project is launched and adapted to the local preferences, it’s relatively simple to compete and acquire players. The operators will win with attractive bonuses and promotions, well-thought campaigns, and in particular social media marketing and influencer-based advertising. Brazil is one of the biggest influencer markets in the world, according to the statistics, up to 45% of consumers here trust social media platforms and recommendations. At this stage, I will not be surprised if Instagram and TikTok are literally invaded by sports betting and casino placements.

During this initial bountiful period, operators must keep in mind long-term goals. Given the difficult history of long and painful payouts and the lack of local or at least Portuguese-speaking customer support, these two operational aspects are irreplaceable for building trust and long-term engagement and are currently in the top three reasons for player churn.

Denis Kosinsky
With regulation finally being implemented, we can expect Brazil to become a favorable market for growth and sustainability. Early insights signal toward rapid expansion fuelled by the recent legislation, while its young, tech-savvy population’s strong interest in digital entertainment means it is poised to become one of the biggest markets worldwide. Pivotal to success in the market will be player acquisition and retention strategies that provide a superior user experience. Initiatives such as loyalty systems, player battles and brand customization will be critical in retaining players and staying competitive.

We’re closely monitoring growth indicators such as user engagement metrics, market share expansion, and the adoption of new gaming technologies to adapt our strategies for sustained growth. Furthermore, responsible gaming, at its core, is the most important contributor to making the gambling industry sustainable in the long-term. To play our part in this, NuxGame will be focusing on ethical practices to foster a safe and sustainable gaming environment.

Stemming from complex regulatory frameworks, compliance requirements and heightened competition, encountering challenges in a new market is unavoidable. Through our dedication to innovation, customer satisfaction, and strategic partnerships we can address these obstacles before they arise and ensure a smooth launch into the regulated Brazilian market.

Interviews

Exclusive Q&A w/ Rory Credland, Head of Strategy at Next.io

Published

1 week ago

April 9, 2024

George Miller

exclusive-q&a-w/-rory-credland,-head-of-strategy-at-next.io

Reading Time: 4 minutes

Could you provide an overview of the upcoming Next.io summit in May?

We are hosting our 4^th annual NEXT.io event in Valletta on 15 – 16 May. With a global delegation of 5,000 attendees, Valletta’24 is more than just a conference; it’s where groundbreaking ideas and innovations converge. In addition to the leadership stage, we host several side tracks on marketing, investment, HR, sustainability, technology, emerging markets/jurisdictions – plus a new track on personal development. As we expect over 5,000 attendees, we have also increased our networking space with a new hall dedicated to more exhibitors, entertainment area, lunch, and a chill-out zone. Finally, our recent partnership with Ask Gamblers will ensure greater affiliates and operators in attendance, so as you can see there is definitely something for everyone and the event promises to be one of endless connections and activities.

What speakers or panelists can attendees expect to hear from during the summit?

We have tailored the event to make this event the pinnacle of the iGaming industry, offering unparalleled networking opportunities and insights from 300 industry-leading voices. We have many c-level speakers attending including Angus Nisbet, VP Gaming, BetMGM, gaming industry expert Paris Smith, Lahcene Merzoug, CEO. PressEnter, Francesco Postiglione, CEO, Casumo, Martina Akerlund, CEO, CallsU, Jeffrey Haas, Chief Growth Officer, William Hill, Todd Haushalter, CPO, Evolution Group, Tim Heath, General Partner, Yolo Investments plus an amazing keynote to kick off the start the event. We have two amazing keynotes to kick-start day 1 and 2 of the event, so I urge you to check out our agenda via

Can you share any insights into the format of sessions and discussions planned for the summit?

We like to change the formats and concepts up at NEXT.io compared to the norm that you see at other organisers. For instance, we base our talks at 30mins max to ensure that it is short and sharp straight to the point discussions and a limited number of speakers on each session so that more interactive discussion and debate can be had. We also are putting the CEOs under the spotlight this year – think Mastermind – with each CEO – one by one – under a “spotlight” for 10mins with direct questioning from the host. Should be awesome and insightful.

How does Next.io ensure diversity and inclusivity in the selection of speakers and participants for its summits?

Internally we take an active stance to ensure that there is a cross selection of speakers to this regard based on our own internal metrics. Wherever possible we encourage new speakers to be put forward by their organisations or through connections that we make – this allows for new and different perspectives on the discussion to hand which make the event and tracks interesting and informative for the audience.

What unique networking or collaboration opportunities will be available to participants during the event?

For two years ago we have designed NEXT.io Valletta to be a festival week of iGaming, encouraging people to arrive for the week to take part in our activities we have on the Monday and Tuesday before attending the event on Wednesday. This year we have Golf, Padel, Run Club plus many networking events taking place from Tuesday through to Friday night, so check out the website where you will be able to find more information.

How does Next.io leverage technology or innovation to enhance the summit experience for attendees, whether in-person or virtual?

We have a unique advantage hosting the event at the MCC in that the main stage is built like a theatre – so with use of such a big stage we can use LED screens which allow for animation and interaction on screen as well as several attendee applications which ensures they get directly involved with what session is taking place and have an input into the direction of the questioning.

What motivated Next.io to choose Malta as the location?

NEXT.io head office is based in Malta, so it felt a natural fit to organise our flagship event within the country and at one of Malta’s iconic venues – The Mediterranean Conference Centre – with epic views over the harbour and Mediterranean Sea. When NEXT.io was formed the company had amazing support from the Maltese Gaming Authority who backed us at the time and so since day one we continue to use Malta to host what we feel is becoming an event on everyone’s calendars.

How does Next.io ensure that its summits provide a platform for emerging voices and perspectives alongside established leaders and experts?

As mentioned previously we like to continuously promote not only the established experts but also the leaders of tomorrow. Our Advisory Board is instrumental in that regards as they also have an ear to the ground as to whom is best to suggest for topics and discussions. I think what works best is a mix of experience and new to crate that interesting discussion on stage.

How does Next.io plan to capture and share the insights and outcomes from the Malta summit to extend its impact beyond the event itself?

We record our main stage sessions and use this through our awesome marketing to promote the event long after it is over via access on our news part of the website. In fact, we never see an event having an “end” more of a continuation to the next show as we promote what was and what is new for the following year. Continuous dialogue with our audience and clients is important to ensure consistent messaging and allows us to react to what market forces are in play at the time.

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