“As the American iGaming market matures and grows from a handful of states the first challenge should slowly be addressed.
Notwithstanding, state
iGaming taxes continue to limit profitability. As in the case of the riverboat gaming sector, over time tax policies will
Virtual sports have yet to take off in the United States. Is this a matter of when, not if? Is it naive to expect American players to understand virtual sports, yet alone like them, from the off?
Robert: It’s a matter of when. Tere are three factors that constrain the adoption of virtual sports betting, the first is iGaming distribution that creates acceptable financial margins, the second is conforming virtual sports product design to American wagering nomenclature and the third is product exposure.
As the American iGaming market matures and grows from a handful of states the first challenge should slowly be addressed. Notwithstanding, state iGaming taxes continue to limit profitability. As in the case of the riverboat gaming sector, over time tax policies will conform to support industry growth.
Te concept of virtual sports is to get as close as possible to the experience of betting on a live event and it’s one that has seen huge success in a number of global markets on that basis, so we don’t believe that the US is going to be any different in that respect. We’re confident that US bettors will grasp the concept quickly.
Kiron has addressed the opportunity to create authentic virtual sports games using innovative branding and intuitive play. We seek more volatile gameplay and jackpot features to conform to American player expectations. For online gaming, we are offering instant win products with sports brands that are meaningful to US bettors. Overall, we’re extremely optimistic about the US market.
Kiron has a portfolio of over 55 games, which allows us to target markets with significant specificity. Each US state allowing casino and/or iGaming is considered its own market for game merchandise purposes and we’re creatively branding our games for each market for American football, basketball, and soccer to tap into state affinity groups. In the first quarter of 2024 we will launch highly branded games that tap into the passion of bettors for their home team.
Araksi: Te United States is a huge country, laws and regulations vary from one state to another. Te population of each state is also unique, with own concepts, traditions, and habits. Te perception of betting in Florida and in Utah will naturally differ radically. So, it is almost impossible to discuss the North American market in the same way as we would discuss,
conform to support industry growth.”
Robert Miller Kiron North America
“Games based on Americans' favourite sports can also be attractive to them. But here the main task for providers will be exactly the supply of
products. It should be simple, but at the same time
intriguing and unique. Much has already been said in our segment, but those who offer a new vision will not go unnoticed.”
Araksi Sargsyan DS Virtual Gaming
say, the Italian or Kenyan markets. Of course, much depends on regulation. It poses such questions as if or when.
As for the players, in many states the players themselves are more than ready for virtual games, as they are familiar with them first- hand. We all want to believe that there is no shadow market in states that do not have a law that allows betting, and this is precisely what is a naive delusion. A person who has the desire to bet will always find an opportunity. Tere are a lot more companies that make virtual games and offer them, than you can imagine.
So, every major provider that enters the regulated market is not the first. Hence, we will not reinvent a design that has long been known to everyone and perfectly worked out fully corresponding to its tasks. Tere is simply no need to talk about quality, responsibility, and conscientiousness here.
Our company has not yet set itself the task to penetrate the North American market. However, we have precise ideas about what exactly to offer players depending on the states. Naturally, horse racing and greyhound racing will be at the forefront, since these games form the basis of the segment and correspond to the classic ideas about virtual games.
“There are a lot of states
where virtual is not legal now. On the other hand, it's a very young product, in which the outcomes are not as good as expected so far, but we need
to give it some time due to the learning curve and acceptance from the players before they start picking up virtual sports. Sooner or later, it will be a huge market in the places where it's allowed.”
Martin Wachter GoldenRace
Games based on Americans' favourite sports can also be attractive to them. But here the main task for providers will be exactly the supply of products. It should be simple, but at the same time intriguing and unique. Much has already been said in our segment, but those who offer a new vision will not go unnoticed.
Martin: First, there are only a few states right now which accept other games since sports betting: six states if I'm not wrong. So, there are a lot of states where virtual is not legal now.
On the other hand, it's a very young product, in which the outcomes are not as good as expected so far, but we need to give it some time due to the learning curve and acceptance from the players before they start picking up virtual sports. Sooner or later, it will be a huge market in the places where it's allowed.
And we might have to adapt our games. We have also tried to push specific games for the US while we prepare our entrance in this market, like our 3x3 Basketball, Grand Prix Indianapolis 60 and the MMA product, horse races, casino games, some number games and more to come.
WIRE / PULSE / INSIGHT / REPORTS P101
INSIGHT VIRTUAL SPORTS GLOBAL SNAPSHOT - UNITED STATES
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