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YouGov, TrueLayer research reveals the 5 trends shaping the future of iGaming payments
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iGaming providers that offer instant bank payment capabilities and couple their service with responsible gambling initiatives will drive trust, higher usage and reduce player churn.
TrueLayer, the leading technology company building financial infrastructure that’s open to any business, anywhere in the world, today revealed the results of its latest research, produced in association with YouGov, into the future of iGaming payments.
The research surveyed over 3,000 regular online gamblers across major European markets including the UK, France, Spain, Italy and Germany, examining attitudes and experiences within iGaming, and the impact of payment options on player onboarding, retention and safeguards.
It revealed five significant trends:
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Players want fast payments: Rapid deposits and payouts consistently topped the list of player priorities, with 8 out of 10 players rating fast payments as important – and they choose their gaming operators accordingly. Our survey shows that, in 5 out of 6 markets surveyed, players consider fast withdrawals to be in their top two priorities. Compare this with “A good sign-up offer for new customers” – the bounty that has occupied marketers for so long – never making it into a country’s top five priorities.
“What’s better than your player not having to wait to deposit their money and play, or withdraw their winnings? That’s the best experience you can give them,” commented Christian Reinheimer, Head of Payments Strategy, LeoVegas.
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Instant withdrawals improve brand trust: Instant withdrawals increase deposits, while slow or problematic withdrawals are a key source of frustration, complaints, bad reviews – and ultimately churn. Almost two thirds of respondents said they were more likely to trust a gaming service that offered withdrawals and deposits (64%). While more than half (55%) said they were likely to switch to an online gaming service that offered instant withdrawals.
“Players who have access to faster withdrawals are loyal, highly engaged customers who deposit more regularly,” commented Natalie Dunne, Head of Payments, Paddy Power Betfair.
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Players want to pay by bank transfer: In the UK, Germany and the Nordics around 7 in 10 players use bank transfer to pay into a gaming service. Pan-European gaming brands to be mindful of the fact differing cultural preferences across the continent, as card payments still dominate in France, Italy and Spain.
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Onboarding needs to be fast and simple: For all online services, the onboarding challenge is simple, the customer has not yet experienced your service, so they are easier to lose. The trend is towards seamless and frictionless signups. In total, around two thirds of our respondents (65%) said they would not tolerate a signup process which lasted more than five minutes.
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Players choose operators that support responsible gambling: Our research shows that online gaming operators who promote responsible gambling by including tools like spending caps are more popular than those without sophisticated limits. Around two thirds (65%) of players across are likely to use a site that promotes responsible gambling by setting spending caps and limits.
“The research findings clearly show that improved payment options are a key driver for players, whether they are choosing a new gaming provider, allocating deposits or deciding to move on. It delivers a clear message to operators that as players experience seamless digital services in other aspects of their lives, their expectations for iGaming are also changing,” commented George Davis, Product Lead for Payments at TrueLayer.
For operators that means implementing more robust, instant pay-in and payout capabilities, or face increased player churn. True loyalty, the sort that causes customers to genuinely recommend a brand to their friends, comes from one thing only: exceptional customer experience. That includes everything from dispute resolution through to technical reliability and confidence in payments.
Open banking can play a crucial role, delivering new payments approaches to the iGaming market. It also presents an opportunity for operators to differentiate and drive customer customer loyalty through rapid deposits and withdrawals; a trusted white-label payment experience; and tailored responsible gaming protections.
“iGaming providers that offer instant bank payment capabilities and couple their service with responsible gambling initiatives will drive trust, higher usage and higher player stickiness,” added Davis. “Open banking is also a positive move for responsible and sustainable gambling, since banks can control their limit allowance, and any interactions via open banking APIs will enforce those allowances.”
About the Research methodology
The report presents the findings from a survey, conducted by YouGov, into the habits of users of online gambling/betting services. It focused specifically on attitudes to signing up to a service, as well as the ways in which they transfer money in and out of their gaming accounts. We conducted over 3,000 interviews, during October 2020. Data was gathered across six European markets: the UK, Germany, France, Spain, Italy and the Nordics (Sweden, Finland and Norway) with a minimum of 500 interviews in each territory.
For the purposes of this survey, online gaming refers to a breadth of online gambling activities, including sports betting, casino games (from slots to poker), bingo and lotteries. All respondents use online gambling / betting sites at least once every couple of months.
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OddsMatrix, EveryMatrix’s sportsbook and odds feed business, has further enhanced its premium sports content offering by partnering with micro-markets provider Kero Gaming.
The collaboration will see OddsMatrix integrate Kero’s suite of traditional and contextual football led micro markets into its sportsbook and feed coverage, with basketball, baseball, and American football to follow later this year.
These rapid micro-markets will broaden OddsMatrix’s coverage of 170,000+ monthly live betting events and 650+ bet types across its ‘always-on’ sportsbook.
Kero content will supplement OddsMatrix’s existing multi-sport Fast Markets product offering sportsbook and odds feed customers real-time, instant betting options across a variety of individual game moments.
By blending its proprietary Fast Markets with Kero’s micro-betting output, OddsMatrix will further empower its growing, global tier-1 client base with a differentiated and dynamic live betting offering.
Tor Skeie, CEO, OddsMatrix, said: “Integrating with Kero Gaming adds another layer to our comprehensive premium sportsbook and feed coverage.
“Kero have been fundamental figures in the growth of micro-betting and we are thrilled to integrate their content into our ‘always-on’ sportsbook.
“We’re passionate about empowering our loyal customers with technology, tools and content that enable them to differentiate, and this partnership will help support that goal.”
Tomash Devenishek, CEO, Kero Gaming, said: “Collaborating with EveryMatrix is a natural fit for Kero, as both companies share a commitment to delivering best-in-class solutions for operators and bettors alike.
“This partnership enables us to integrate our cutting-edge micro-betting technology with EveryMatrix’s powerful platform, creating new opportunities for engagement and excitement.”
The post OddsMatrix grows micro-market coverage with Kero Gaming integration appeared first on European Gaming Industry News.
Rapidly Expanding Content provider takes players on a trip to Wonderland in Alice WonderLuck
Popular iGaming content provider BGaming is thrilled to announce the launch of Alice WonderLuck. Inspired by the whimsical world of Lewis Caroll’s iconic novel, Alice Wonderluck invites players to conjure up some magic on the reels.
Alice WonderLuck plunges players into a vibrant reimagining of Wonderland, where a series of familiar characters are given a fresh, digital makeover. The classic tale’s creative and slightly off-kilter atmosphere has been brought to life perfectly with an enchanting soundtrack.
Adding to the slot’s immersive experience, Alice is positioned by the reels and will react to in-game events. She is on hand to support players whenever they need it, helping to drive engagement and keep them in the thick of the action.
The fantastical world of Alice in Wonderland is renowned for its mystery and surprises, and BGaming has tapped into this with the game’s Mystery Symbol feature. The symbols can land during any base game spin, heightening anticipation and creating suspense. They can also turn into Golden Mystery symbols, triggering the Coin feature with different multipliers and Collect symbols.
At the start of the Free Spins round, players enter the Choose Card round. Here, they encounter 16 face-down cards and can turn a select number over to uncover additional features, including extra spins, low Mystery symbols, high Wilds, or multipliers.
Alice WonderLuck emphasizes player choice, offering two differently priced bonus buy features for an improved entertainment experience. For 100x their stake, players can trigger the spins with at least three extra features, and for 250x, they will be triggered with five.
Players who enjoy high stakes will also love the optional Try Your Luck game before the Free Spins game.
While many of these gameplay features may appear familiar, the beauty of Alice WonderLuck is that it provides a new perspective on them.
If the captivating gameplay isn’t enough to lure players down the rabbit hole, then the game’s powerful math model will be. Alice WonderLuck conjures up a maximum win of 10,000x of the stake and an attractive 97.00% RTP.
Yulia Aliakseyeva, Chief Product Officer at BGaming, said: “We are all huge fans of Alice in Wonderland at BGaming and have wanted to create a slot around the theme for a long time.
The magical world of the story lends itself perfectly to online slots, and it has allowed our team to get creative with the gameplay. We’ve blended familiar features with a fresh perspective, creating an enchanting game with some brilliant winning potential.”
The post Dive Into the Rabbit Hole with BGaming’s Alice WonderLuck appeared first on European Gaming Industry News.
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Step onto the Court with “Hoop Champion” A Revolutionary Basketball-Themed Game from Gaming Corps
Gaming Corps introduces a brand new, innovative mechanic X-MY-WAY™ in the adrenaline-fueled Hoop Champion
Gaming Corps, a publicly listed game studio based in Sweden, is proud to announce the release of Hoop Champion. This new game also marks the debut of the innovative new X-MY-WAY™ mechanic.
Get ready for an action-packed gaming journey like no other as Gaming Corps invites players to step into the vibrant world of basketball with Hoop Champion, a revolutionary new game. Crafted for casino lovers and online gamers, this title fuses thrilling basketball action with unmatched gambling mechanics, providing a truly distinctive and exciting gameplay experience.
Hoop Champion isn’t just another game, it’s a next-level experience that puts players on the court where every move counts.
Hoop Champion allows players to take charge of their gameplay through the innovative “X-MY-WAY” mechanic. They can select their strategy, whether opting for safe midrange shots or daring high-reward three-pointers for a chance at substantial payouts. Each position on the court brings its challenges, offering different payout opportunities that keep the game engaging, similar to a real basketball experience.
With the possibility of a 1,000x multiplier, players can aim for impressive rewards. The decision lies with them: they can choose to go for the 25x multiplier right away or take a more cautious approach with smaller multipliers like 1.1x. Players have control over how their multiplier grows with just a few clicks, deciding when to cash out or continue for that big 1000x win. This adaptability and personalisation ensure that the experience fits their strategy and risk tolerance, allowing them to play at their own pace.
Connor Blinman, Head of Games at Gaming Corps said: “Hoop Champion is our fresh take on a game blending skill and decision-making with good old-fashioned luck.
“This revolutionary mix allows players to feel more involved in the gameplay, making every decision impactful and we can’t wait to see how players respond to this fantastic new title from our superb games team.”
The post Step onto the Court with “Hoop Champion” A Revolutionary Basketball-Themed Game from Gaming Corps appeared first on European Gaming Industry News.
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