What it boils down to is understanding how to best leverage technology to create those efficiencies and to eliminate as many errors as possible.
We've educated operators, partners and even the media that want to run gambling adverts. You almost have to take the same mentality of Europe and be much more conscious of your advertising strategies. Everyone likes to lump the United States as one big geographic area. But each state needs to be treated as its own entity. If you think about it, New Jersey is a similar land-size to Sweden, and Michigan is a similar size as Germany.
When we start breaking it down and actually looking at each one of these states at an individual level, you have to understand that every state is going to be treated very differently. I think that's where a lot of brands have made mistakes. Tey hire a marketing manager for their brand in North America, but instead should be hiring market managers for each state. Tat's the only way you can create those efficiencies; you cannot have a universal strategy across all the states.
What role do you see technology playing in enhancing the effectiveness of player acquisition, particularly in terms of targeting and personalisation?
It’s critical, right? Anyone who is not focusing on technology is going to fail in the long-term. I feel that this industry is 10 years behind every other vertical when it comes to adopting new technologies. If you look at what's happening in e-commerce, or if you look at what's happening in consumer finance, those sectors are hyper efficient. Tey are leveraging personalisation at absolutely every part of the customer journey. We are yet to see that done in iGaming or sports betting.
I think there's a lot of reasons why we, as an industry, are behind the curve. It's not for a lack of want, at least from what I can tell. I think a lot of it does come down to regulatory demands. Operators are confined in the technologies that they can implement because of licensing conditions within the iGaming industry.
On top of that, there is also the challenge of technological tailwinds. Both iGaming and sports betting are relatively new to North America. Te reality is that there is a lot of great technology that exists for marketing efficiency and technology in other verticals. But those technology providers aren’t paying attention to gaming just yet.
We need someone to come in and say, “we're going to take the level of sophistication that exists outside of gaming and try and make it
work inside of gaming either by taking an existing platform and conforming it to it or just building a brand new one from scratch to service iGaming companies”.
As an industry, how can we best collaborate with stakeholders, regulators, and advocacy groups to address concerns surrounding advertising practices and promote responsible gambling behaviour?
It’s essential that we collaborate with stakeholders across the industry. Intelitics has done a lot of business outside of the US before PASPA was repealed back in 2018. We've worked in Europe, we lived through the numerous regulatory changes in the UK, Sweden, Germany. We’ve seen what happens when the industry doesn’t prioritise safer gambling.
At the end of the day, responsible gaming does nothing but help the industry. It protects the players. But more than that, promoting responsible gambling is also going to create longevity of the customer base, and it creates accountability from the brands.
From our perspective, what we've been trying to tell the brands we work with is that we need to avoid making the US the wild west of gaming. Let’s not make the same mistakes that got us in trouble in these other markets.
We've just been trying to educate the brands on the best practices that exist overseas. Let’s take some self-accountability and take a step towards more responsible practices before the regulators have to step in.
What we're trying to do is avoid having any regulatory oversight become even greater than it already is because that will stifle innovation and the growth of the industry. We have to be responsible; we have to take a proactive approach to making sure that what we're doing is not going to hurt the consumer or create a bad consumer experience.
Tis all highlights why we need to be aware of the data that we have at our disposal. If operators had better data, they wouldn’t be wasting ad spend on campaigns that are falling on deaf ears.
We are trying to be as proactive as possible when it comes to being both creative and considerate of ad campaigns. You don't need every third advert during a football game to be a gambling ad. It might sound like it’s good for brand exposure, but it’s only going to cause damage in the long run. Tere are better ways to accomplish that same level of reach that you think you're getting without having to bombard people who have zero interest in gambling.
What we're trying to do is avoid having any regulatory oversight become even greater than it already is because that will stifle innovation and the growth of the industry. We have to be responsible; we have to take a proactive approach to making sure that what we're doing is not going to hurt the consumer or create a bad consumer experience.
NEWSWIRE / INTERACTIVE / MARKET DATA P83
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