Interactive


CRYPTOCURRENCY IN GAMING DAOGROUP


By offering the best product available! DAOWallet supports operators by allowing them to offer their customers another payment and withdrawal option - in this case cryptocurrency or stable coins. And the more options a player has for depositing and withdrawing their funds the better. Critically, our relationship to operators is as a processing company no different to any other PSP they currently chose to offer.


We are licensed to process cryptocurrency into fiat and that is what we do for the operator. In effect, what we offer is simple, clean and wholly compliant, which we hope will be a key tool for educating the market and presenting it with the facts.


In terms of specialisation and what we can deliver, I’m fully confident that we have the tools and means to be able to establish ourselves as the industry’s preferred payments partner for all things crypto. However, there are still barriers out there when it comes to showcasing the clear benefits that integrating crypto payments can offer for operators.


We are working hard to remove these, especially when it comes to the implications of offering it to customers from a compliance and/or AML perspective, which are routinely misunderstood.


But with PayPal’s endorsement of crypto payments at the end of 2020, alongside many other major PSP already having crypto payments aboard, we can arguably say that crypto gaming has already entered the mainstream. We’re just confident we deliver a better product.


Are gaming businesses in general, not just iGaming, missing a trick by not assimilating crypto-based payments into their offering?


Without a doubt – and so much so, I believe offering crypto-based payments will be key for acquisition and retention in 2021. Tis is for a number of reasons. Te first is that in territories such as CEE across the retail and online space, we’re looking at a new, emerging tech-savvy player as the ideal potential customer and is only just getting introduced to the world of regulated gaming.


I also believe this demographic will be key to powering a lot of Europe’s growth over the next year as they tick all the boxes for an untapped segment in markets that are only just starting to establish themselves.


Here we’re talking newly white jurisdictions, such as Ukraine, Armenia, Belarus and Georgia, with players most likely in their 30s with plenty of disposable income and less propensity towards debt given the region’s lower cost of living.


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Likely ardent sports and poker fans already, they’re going to have plenty of reasons not to be using local currency for the majority of their digital transactions. Offer players a way of gaming that cashes out faster than local currencies and you’ll be onto a winner.


Would you argue offering crypto payments via online and sportsbook is in effect an acquisition strategy?


Most certainly. It’s an area where we really make a difference. Firstly, as I’ve already mentioned, we’re able to completely remove any headaches to do with compliance, which enables us to provide a solid base for operators to onboard an entirely new demographic of player seamlessly and quickly.


Te security side of our wallet is also second to none, which makes the customer journey far


cryptocurrency prices affect their use in the gambling space?


Given the bull run we’ve seen on Bitcoin in recent months – with just about every mainstream media pundit predicting astronomical levels – that may certainly affect crypto player’s interaction and usage of it.


However, it is essential to separate the usage of crypto as a transactional medium of exchange for gambling from those who would see it as a speculative asset to ‘pump and dump’.


More and more industries are starting to get in on the idea of specialised coins, or tokens, such as Facebook’s Diem or Morgan Stanley’s own offering, which enables a specialised product to be created that serves a specific purpose, and is, in theory, relatively immune to the volatility of typically traded coins.


I believe offering crypto-based payments will be key for acquisition a retention in 2021. This is for a number of reasons. The first is that


territories such as CEE across the retail and online space, we’re looking a new, emerging tech-savvy player as the ideal potential customer and only just getting introduced to the world of regulated gaming. I also belie this demographic will be key to powering a lot of Europe’s growth over t next year as they tick all the boxes for an untapped segment in marke that are only just starting to establish themselve


easier. We’re able to instantly identify the provenance of crypto coins coming in, providing operators with the ability to identify both VIP and problematic players before they even start playing.


Tis ties into the security of deposits for operators and negates all risk of charge backs and the like to ensure that they’re able to offer a more cost-efficient operation than ever before, which will again be hugely noticeable for the player.


Secondly, we shouldn’t forget about the marketing advantages and the boost it gives to your brand. Offering crypto-based payments alongside traditional fiat highlights your forward-thinking credentials as an operator and will likely resonate strongly with millennial audiences.


Tis is especially the case if you’re moving into a new market where crypto already has a foothold (such as LatAm or Asian markets), and your preparedness to show you’re here to support their ways of gaming.


To what extent does the volatility of


Finally, how do you see the investment side of the crypto-gambling space playing out in the coming months?


Te mainstream adoption we’re seeing now will continue to drive increased interest from operators and platform providers, which will inevitably attract investment. Having crypto payments is, in effect, a competitive edge, whether that’s Europe, the CIS, Africa or LatAm and the smaller, agile PSPs are certainly going to be watched carefully by US and European capital.


We can see that on the regulation side. We’ve seen the Maltese Financial Services Authority (MFSA) issue its first crypto payments licence, which is likely to quickly accelerate the process it originally started in 2018.


I’m confident that PSPs are going to have a major part to play in operators’ acquisition strategies this year and with general acceptance now at a tipping point, we’re likely to see major changes in the size of this industry vertical. As one of the most specialised providers out there, we’re looking forward to playing a major part in that.


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