Insight TRADOLOGIC
THE TRADING SOLUTION THAT’S NOW TRENDING
G3 interviews Tradologic’s Ofri Noier about the company’s binary betting solution and the similarities between binary betting and sports-betting
Binary betting is a financial betting product that’s very similar to sports-betting in terms of logic, where sports are replaced by simple financial bina- ry bets on the financial markets. Binary betting also generates the same traffic as both sports-betting and casino gaming products, making it a perfect complement to these traditional offers. And while binary betting sounds complicated, but is actually a very simple product, as the name suggests, there are very straightforward betting outcomes. When you look at FOREX, which is spreading betting, there are much lower conversion rates in terms of player profiles, as FOREX is over-complicated and is not really betting, but rather an investment offer. The simplicity of binary betting has meant that conversion rates for Tradologic’s solution are cur- rently around 30 per cent, and as the company is increasingly working with sports-betting compa- nies, conversions are growing even higher as sports-betting and binary betting customers share the same player profile.
Ofri, could you explain for our readers the mar- kets in which Tradologic is currently offering its services and what are the regulations needed to take part in binary options trading?
Tradologic is a platform provider, hence we do not operate. Our clients, however, come from all differ- ent regions. We have major clients working in Asia, UK, Europe, Middle East markets and LATAM.
Regulation, of course, is on a regional basis, but in Europe we are in the final stages of receiving an
IOM betting license and we are working towards a new UK license as well. Tradologic is highly com- mitted to the regulated markets and we hope to obtain as many gaming licenses as possible in order to be able to give excellent service to our clients in the different markets.
In terms of the players, the
financial betting product is very similar to sports-betting and
we also offer skins that give the same look and feel, which creates a new product that’s
highly intuitive for the existing DBA, and saves the need to educate and tutor the player.
How easy is it to integrate the Tradologic plat- form with existing sites, and do you need to edu- cate and initiate the player into this type of flexi- ble and innovative product?
We offer a three step integration process based on widgets, whereby the operator can have absolute control over the product look and feel and its loca- tion (side game within sports-betting, a new finan- cial betting tab and more).
In terms of the players, the financial betting prod- uct is very similar to sports-betting and we also offer skins that give the same look and feel, which creates a new product that’s highly intuitive for the existing DBA, and saves the need to educate and
tutor the player. Of course doing so anyway, will increase conversion, interest and revenues.
What are you current player conversion rates and what new marketing channels are your licensees adopting to bring binary trading to the widest audience possible?
The conversion rates we see with our licensees are between 20-25 per cent from poker and sports bet- ting, and around 15 per cent from casino. As for marketing channels, we are looking at new oppor- tunities such as online financial newspapers, blogs, financial oriented affiliates, and new key words such as facebook, BMW and more...
What is the current market size of the binary trading market and what is the potential growth of this sector?
Since this is a very young markets we can rely on estimations only, but we estimate that the yearly market volume is around seven billion and we see 100 per cent - 150 per cent growth from year to year.
Do you see binary options trading adding a new dimension to every operator's site, or is there specifically an ideal criteria in which this product will thrive?
We have been able to define a few ways to inte- grate the financial betting product into existing gaming operators that works very well.
Turbo and turbo + are side game in the live sports- betting section and an additional tab on the website, however we take it on a case-by-case basis, and work with each operator to best fit their vision and their players’ needs.
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