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How Web3 will transform iGaming in 2024
Evgeniy Babitsyn, CMO of Bets.io, shared the below words with us.
The iGaming sector will be transformed by Web3 technologies. From blockchain applications to AI, NFTs and cryptocurrencies, iGaming platforms are already exploring how Web3 can not only improve their ways of working, but provide an exceptional standard of user experiences.
However, there is still a knowledge gap within the industry when it comes to understanding just how Web3 can be integrated into existing services. The discussion has been dominated by bold thinking on how Web3 will forever transform society. While this has created an exciting public discourse, it can sometimes overshadow the more practical ways that companies across all sectors can already start using Web3 to their advantage.
There are plenty of other considerations as well. These range from the limitations of certain early-stage technologies through to regulatory compliance and risk management. Hastily embracing Web3 without consideration of these issues can leave an entity exposed to a host of challenges which could undermine their relationship with their clients and services. Conversely, taking a risk averse approach which ignores Web3 will ultimately result in organizations being left behind.
Bets.io has been at the helm of research and development to understand how Web3 is revolutionizing the iGaming sector. Already, new initiatives are underway which will result in the rollout of Web3-enabled services and products throughout 2024, tailored to the needs of our clients.
Through our research, we have identified two key ways that Web3 will transform iGaming in 2024.
Speed, transparency and security
The benefits of Web3 revolve around three core principles of speed, transparency and security. Collectively, these principles are directly relatable to the iGaming sector and are based on the process of decentralization i.e. where the activities of a gaming ecosystem or a gaming platform, like the ownership of gaming assets and decision-making in all aspects of gaming, are delegated away from a central authority. This leads to transparency and security advantages.
For example, smart contracts can be deployed to automate the rules and logic of particular online games, ranging from the rewards and penalties set, to the changing nature of the challenges that players face. These smart contracts act as self-executing agreements that run on a blockchain system, meaning that it is incredibly difficult for games to be manipulated or hacked by an outside party.
The use of peer-to-peer networks works in a similar way, promoting cross-play functionality and an international network of gamers. This also means less of a reliance on a centralized server or platform which could slow-down network work performance or limit certain regions and devices from connecting with other players.
Tailored fun for all
Alongside the technical conversation on Web3, we should not forget the fun and engaging elements involved in iGaming and how this can be enhanced. The iGaming sector is global in nature and scope, bringing together players from a diverse collection of communities and regions. This makes the interests of players diverse. Rather than relying on one award system and one style of game, Web3 technologies allow iGaming platforms to deliver a bespoke experience for each individual player.
To understand how this would work in practice, we can consider the reward systems in place. Linking rewards with tokenization is one example of this, most prominently demonstrated through non-fungible tokens (NFTs) that directly correlate to the interests of a player. NFTs can be integrated into iGaming to create unique, tradable, and collectible items that can be won or traded between players. It creates an added value to the player and another avenue to encourage engagement.
Adaptive and tailored gameplay can also be produced through the combination of AI and blockchain data. The different gaming systems can learn from a player’s behavior and preferences to adjust difficulty levels, storyline progression, and in-game events in real-time. Limits can be set and the individual can play games on a difficulty level which is tailored to their skill-level.
2024 will be a defining year for the iGaming sector, and its progress will be led by the integration and use of Web3 technologies. The success of this will depend on iGaming platforms readily exploring how Web3 can be used, with the player experience guiding all the decisions made. Bets.io is already making strides in this space and we look forward to providing future updates shortly.
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North Star Network (NSN) has announced its acquisition of Soccernet.ng, a prominent Nigerian sports media platform, marking a significant expansion into the Nigerian sports scene and underscoring its ambition to solidify its footprint in the African media landscape.
Founded in 2014, Soccernet.ng has become a trusted authority on Nigerian football, providing in-depth daily coverage of local football alongside trending stories from the global soccer world. Known for its quality journalism and passionate team of football enthusiasts, the platform has achieved significant recognition, including the Sport Blog of the Year award at the Nigerian Blog Awards.
A Strategic Move into Africa
The acquisition of Soccernet.ng is part of North Star Network’s strategy to expand its portfolio in Africa. The platform joins NSN’s roster of over 30 respected sports media brands, which includes Afrik-Foot, Top Mercato, Football Whispers, Sportsmole, and Vringe.
Julien Josset, Co-founder of North Star Network, expressed enthusiasm about the acquisition:
“We’re excited to welcome Soccernet.ng into the North Star Network family. Their passion for Nigerian football and commitment to quality journalism align perfectly with our global vision of bringing fans closer to the game they love.”
Preserving Soccernet.ng’s Legacy
Soccernet.ng will retain its original team of dedicated journalists, ensuring the platform’s authenticity and unique voice remain intact. The website currently engages readers not only in Nigeria but also across over 150 countries, including the UK, USA, Canada, and Spain.
Biyi Akangbe, Founder of Soccernet.ng, reflected on the platform’s journey:
“We started as a small website 10 years ago with a passion to deliver news about Nigerian footballers to readers. We’ve since grown into a globally recognized source for Nigerian football news. This acquisition by North Star marks an exciting new chapter for our brand.”
Co-founder Lolade Adewuyi will continue to contribute to the site as a columnist, maintaining the brand’s strong connection with its loyal readership.
Expanding Global Reach
The acquisition of Soccernet.ng reinforces North Star Network’s dedication to amplifying local voices in key regions while offering unparalleled sports coverage. With its innovative strategies and growing portfolio, the group is poised to drive sustainable growth across its media brands.
North Star Network is a leading global sports media group, operating in over thirty countries and committed to delivering world-class sports content to fans worldwide.
This acquisition sets the stage for a new era in Nigerian sports journalism and highlights North Star Network’s continued efforts to connect fans to the heart of the game.
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GamCare releases Annual Report following record breaking year of support on the National Gambling Helpline
GamCare’s National Gambling Helpline received a record 55,228 calls and online chats from people experiencing gambling harm in 2023-24 – a 25% increase from the previous year – according to the charity’s Annual Report.
In a year marked by uncertainty over the future shape and structure of the gambling harms treatment sector following the previous government’s white paper on gambling reform, the charity continued to prioritise those at-risk of, or currently experiencing, gambling harm.
Of all calls and online chats that were responded to on GamCare’s Helpline in 2023/24, 41,070 (74%) were classed as supportive interventions. This includes supporting people with initial guidance and advice as well as delivering a seamless entry point into structured treatment services, with individuals completing treatment reporting a significant reduction in gambling-related distress and financial harm.
In March 2024, the Office for Health Improvement and Disparities published an assessment of the gambling treatment system, highlighting that 57% of individuals engaging in treatment were referred by the National Gambling Helpline. This underscores the Helpline’s critical role in connecting people to the support they need. Over 9,100 free treatment sessions were delivered in the year to April 2024, with an average of just 2.1 days’ wait from point of referral.
GamCare’s targeted programmes aimed at young people, women, and the criminal justice system provided training on how to spot the signs of harms and where to signpost into support for 10,344 professionals, and education for 53,324 young people, children and parents. The Women’s Programme, in partnership with organisations such as Refuge, trained 3,813 professionals to recognise and address gambling-related harm among women.
Margot Daly, Executive Chair of GamCare’s Board, says: “Throughout a challenging year and with heightened demand for our services, GamCare’s staff have got on with the job of preventing harm where possible and treating harm where necessary. While we expect important changes in the gambling harms landscape, we have been determined not to let this uncertainty affect our relentless focus on the people who really matter – those at-risk of or currently experiencing gambling harms.
“I would like to thank and pay tribute to our frontline staff who provide 24/7 support for all those at risk or in distress. I also want to thank GamCare’s senior executive team who have steered GamCare through a period of sustained change, and to my fellow trustees for their guidance, unwavering support and the time each has dedicated to ensuring that the charity stays on course and on mission.
“As we look ahead to how the future of the gambling harms sector is shaped, we are committed to working proactively with the NHS and other partners and commissioners to ensure that people are continually able to receive the right support at the right time.”
The post GamCare releases Annual Report following record breaking year of support on the National Gambling Helpline appeared first on European Gaming Industry News.
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