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OKTO.CASH Receives GGL Approval

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OKTO.CASH, the innovative cash-to-digital payment method of OKTO has been granted approval by the GGL and has been officially recognized as an approved payment method for iGaming in Germany. This significant milestone allows igaming merchants in the German market to leverage the unique advantages of OKTO.CASH, setting them apart from competitors and offering an unparalleled payment experience to their customers.

GGL’s approval of OKTO.CASH comes after a rigorous evaluation process, during which three different operators submitted applications to utilize this innovative payment method. OKTO.CASH has emerged as the preferred choice for operators seeking to enhance their payment offerings.

Operators now have the option to utilize the OKTO.CASH branded solution or opt for a white-label version, providing flexibility in catering to their specific customer base and brand identity.

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Mikhail Ovsepyan, Head of Germany at OKTO, expressed his enthusiasm about this achievement: “We are glad to have received GGL’s approval. OKTO.CASH is a revolutionary payment method for the German market, allowing direct real-time cash top-ups for iGaming accounts at a wide network of points of sale (POS). This is a game-changer for the industry, as there are currently no comparable solutions available.”

OKTO has built a rapidly expanding network of POS locations in Germany, which will encompass over 40,000 points of sale, including supermarket chains, kiosks, gas stations, and potentially German post offices. This strategic emphasis on proximity ensures that customers can conveniently access OKTO.CASH, thereby opening up new opportunities for customer acquisition and revenue generation that were previously unreachable through traditional payment methods.

One of the key differentiators of OKTO.CASH is its seamless payment journey, complemented by an embedded eVoucher payment method, which elevates the customer payment experience to best-in-class standards. This innovation reduces abandonment rates for consumers, as cash payments significantly reduce friction, leading to higher conversion rates.

As the iGaming industry in Germany continues to evolve, OKTO.CASH stands at the forefront of payment technology, offering operators a competitive edge and providing customers with a convenient and efficient payment solution. The approval by GGL underscores the importance of innovation and customer-centric solutions in the rapidly expanding igaming market.

Operators who choose OKTO.CASH can anticipate not only differentiation from its competitors but also the opportunity to attract a unique customer segment that values the convenience and reliability of cash-based payments.

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German games market in 2023: strong development in turbulent times

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The German games market once again grew significantly overall in 2023: sales of games, games hardware and gaming online services rose by 6 per cent to around 9.97 billion euros. This is a significant increase after sales had only risen by 1 per cent in the previous year. The biggest growth drivers include games consoles and their accessories as well as in-game and in-app purchases. Despite the large number of top-class titles, which increased sales of games purchases by 4 per cent, the number of games sold fell by 8 per cent at the same time. There were also significant declines in some cases for gaming PCs and laptops. The data on the German games market is based on surveys conducted by the consumer panel services GfK and data.ai. The different developments in the individual market segments also show that 2023 was a year of contrasts for the games industry as a whole: on the one hand, more high-calibre titles were released within twelve months than ever before. On the other hand, some sales expectations were not met, particularly due to this abundance of outstanding games. Combined with generally high interest rates and a slowdown in the investment market, a wave of consolidation began worldwide, as a result of which developer studios are still being downsized or even closed and jobs are being cut.

‘The German games market continues to grow, but a close look at the data shows just how challenging these times are for game companies,’ says Felix Falk, Managing Director of game. ‘This is particularly true for small to medium-sized companies in Germany, most of which have only thin capital cover and therefore feel the impact of the tougher investment climate especially quickly. In such turbulent times reliable and internationally competitive political solutions are needed more than ever.’

 

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Major differences between categories of games hardware

Sales revenues from various categories of games hardware developed very differently last year. Game consoles were among the most important growth drivers, posting a revenue increase of 44 per cent to break the billion-euro threshold, with total revenues of 1.1 billion euros. Demand for game console accessories was similarly robust, if at a slightly lower level. Sales revenues in this area jumped 32 per cent, to 374 million euros. In stark contrast, gaming PCs registered a clear decline as revenues from PCs and laptops marketed specially for games dropped by 17 per cent, to 547 million euros. Accessories for gaming PCs – including special input devices, graphic cards, etc. – fared only slightly better, with revenues falling by 7 per cent, to just under 1.3 billion euros.

‘Last year was the first year in a long time in which all current game consoles were easily available on the market,’ says Felix Falk. ‘The huge revenue gain in this category in 2023 shows how great the pent-up demand was among players. On the other hand, there was a clear drop in sales revenues from gaming PCs. After investing in PCs and laptops during the Covid-19 pandemic, a lot of video game players seem to be well-equipped for the moment.’

Sales revenue from games rises and gaming online services stabilise at a high level

Sales revenue from games developed positively overall in 2023. Across all platforms, purchases of PC and console games generated 4 per cent more revenue than in the year before. Total sales revenues in this area increased to around 1.1 billion euros. Considering the many high-quality game releases, however, this rise seems rather low. Indeed, the number of games sold actually dropped by 8 per cent. This reveals that the growth in revenue here is attributable exclusively to higher average prices. Last year, many video game players appear to have purchased high-quality titles shortly after their release and not waited for discounts. Also, because many of the top titles of 2023 are especially time-intensive, they didn’t leave room for players to acquire a larger number of games. In contrast, the market development for in-game and in-app purchases was significantly more positive, showing a revenue increase of about 6 per cent, to 4.7 billion euros. From an upgrade in a player character’s armour, to a season pass with a lot of additional content, to completely new campaigns, it has become ever more common for the playing time of a game to be extended or individualised through additional content. This trend continued in 2023. In-game sales revenues contribute significantly to covering continuously rising game development costs.

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After a number of years of strong growth, sales revenues from online gaming services stabilised at a high level. Among the categories in this segment are fee-based subscription services that provide access to a large selection of games, cloud-based gaming, online multiplayer functions and the ability to save game progress in the cloud. Examples of these services include EA Play, Nintendo Switch Online, PlayStation Plus, Xbox Game Pass and Ubisoft+. Revenue from these services fell by 1 per cent in 2023, to 860 million euros.

 

The post German games market in 2023: strong development in turbulent times appeared first on European Gaming Industry News.

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Central Europe

PRAGMATIC PLAY SLOTS LIVE VIA FEG IN CZECH REPUBLIC AND SLOVAKIA

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The provider extends current agreement with Fortuna Entertainment Group (FEG) to supply online slots in Czech Republic and Slovakia

Pragmatic Play, a leading content supplier to the iGaming industry, has extended its agreement with Fortuna Entertainment Group (FEG) to supply premium Slots to the operator in the Czech Republic and Slovakia.

FEG’s players in its home market of the Czech Republic, along with neighbouring Slovakia, can now experience a selection of iconic Slots from Pragmatic Play, including Gates of Olympus, Big Bass Bonanza, and Sweet Bonanza.

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One of the largest and most successful omni-channel betting and gaming operators in Central and Eastern Europe, FEG also provides access to online casino games in Croatia, Poland, and Romania.

The agreement marks a further strengthening of Pragmatic Play’s product offering in regulated markets throughout Europe.

Irina Cornides, Chief Operating Officer at Pragmatic Play, said: “It’s fantastic to see Pragmatic Play Slots go live with Fortuna in their own backyard, where our games have already proved popular with players. Our product offering is now available to the operator across a number of key European regulated markets.”

Myke Foster, Group Head of Gaming & Commercial Strategy at Fortuna Entertainment Group, added: “Having already taken Pragmatic Play’s games live in Romania and Croatia, we’re obviously pleased to now bring them to our entire gaming customer base across the FEG estate with the addition of Czech Republic & Slovakia. Both us and our customers know the games well, so it’s a delight to expand our relationship across Central Europe with the incredible team at Pragmatic Play.”

The post PRAGMATIC PLAY SLOTS LIVE VIA FEG IN CZECH REPUBLIC AND SLOVAKIA appeared first on European Gaming Industry News.

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12 years of LOTTO24: German market leader for online lotteries presents record figures

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  • Market leader for online lotteries in Germany celebrates its twelfth anniversary
  • More than 1.7 billion euros in winnings paid out and over 5.3 million customers
  • In addition, more than 1.5 billion euros raised for society

Twelve years of LOTTO24: the leading provider of online lotteries in Germany is celebrating its birthday today. In 2012, LOTTO24 was the first German company to bring lotteries to the Internet. Just one year later, LOTTO24 had established itself as the online market leader in the lottery sector in Germany. Another three years later, in 2016, one million loyal customers were playing regularly at LOTTO24. Since 2019, the company has officially been part of the ZEAL Group and not only allows participation in state lotteries via its web stores, but also in a continuously growing portfolio of online games. In addition, LOTTO24 also offers two charity lotteries of its own, freiheit+ and Deutsche Traumhauslotterie.

Twelve-year success story “Made in Germany”

In twelve years of company history, LOTTO24 has already made more than 5.3 million customers dream and paid out a record total winning amount of more than 1.7 billion euros. Last year alone, LOTTO24 produced more record winners than any other lottery provider in Germany. The last big winner was just a few weeks ago: In February, a 49-year-old LOTTO24 player from Bavaria hit the 62 million euro jackpot.

Twelve years of commitment for society

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What many people don’t know: Every ticket submitted to LOTTO24 over the past twelve years has been used to support society in the areas of education, health, culture and family. In addition, a large proportion of the proceedings from the company’s own charity lotteries freiheit+ and Deutsche Traumhauslotterie are also used to support educational projects. In total, LOTTO24 has raised more than 1.5 billion euros for society over the past twelve years.

“We are proud of twelve extremely successful years of LOTTO24,” says Andrea Behrendt, CFO of LOTTO24. “The density of winners among our customers is exceptionally high and we are delighted that we have made more than 5.3 million players dream in recent years. We will continue to keep our fingers crossed for all our customers and define the future of the lottery with new products.” 

The post 12 years of LOTTO24: German market leader for online lotteries presents record figures appeared first on European Gaming Industry News.

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