Pulse
SHARED PLAY EXPERIENCES LIVESPINS
Livespins:
Michael Pedersen, Chief Commercial Officer Livespins
Michael Pedersen is a strategic commercial leader on a mission to drive growth for tier-1 brands. He has more than 14 years’ experience within the online gambling industry and 20+ years’ commercial leadership experience across brands like Pokerstars and NetEnt. In addition, he co-founded social casino
Letsbet.com as well as iGaming NEXT. He holds an MBA from University of Leicester and has completed executive programs at Stanford.
A socially charged iGaming future
Livespins is looking to socially charge the igaming space through facilitating shared
playing experiences and creating a new category of play. Michael Pederson, CCO of the new start-up, discusses the product’s proof of
concept, adopting a transparent development methodology, and augmenting the experience of an underserved player segment.
What enticed you to take on the challenge of spearheading a start-up?
Te start-up world is not foreign to me as I have been down that route a few times. I'm good friends with Robin Reed, the founder of HappyHour and entrepreneur behind Livespins, and I was immediately on-board when he demonstrated the product to me. I have always been a believer in the social gaming space, but I haven't yet seen a product crack the code. My first and lasting impression is that Livespins does just that. It is well built and fits with modern times.
What challenges are operators facing when it comes to attracting Gen Y and Z players, and how is Livespins helping them to surmount them?
Tat's exactly our home field. When we look outside the iGaming industry, we see Apple doing share play, Disney+ offering group watch, Discord rocketing a sense of community and of finding likeminded individuals, all of which has been propelled by the pandemic. Anything which can facilitate a feeling of togetherness and belonging has been fast tracked and this is exactly what Livespins does.
Whereas before you passively watched a casino streamer, Livespins offers players an opportunity to join the ride and bet behind the streamer together with other players simultaneously on every spin. A lot is made and discussed about innovation in iGaming but, honestly speaking, it's lacking. Te world around our industry is heading to Web3, the Metaverse or whatever you want to call it. If the
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Millennials and Gen Z will not find the iGaming industry casino product interesting for much longer. We need to pay attention as an industry and should welcome any products that up the game. It can't be brushed off anymore with
outdated beliefs about what over 18's want to play.
iGaming industry doesn't adapt to that, we run the risk of becoming irrelevant.
Millennials and Gen Z will not find the iGaming industry casino product interesting for much longer. We need to pay attention as an industry and should welcome any products that up the game. It can't be brushed off anymore with outdated beliefs about what over 18's want to play. Millennials are now 35-37, a critical mass for any operator or provider in the industry, and I seriously hope there is going to be innovation across the board for the benefit of the entire industry.
Will there always be a place for the traditional solo experience?
It won't become dated because the solo experience of playing on your own is very popular, but there is currently a significant
player segment that is underserved and is not finding products which resonate with today’s trends.
For Livespins, this is just the beginning. For now, it is bet behind - a betting format everyone can relate to from land-based gaming - but there are many more products on the roadmap. You can easily manage bet against or bet with, so the opportunities for innovating within this space are immense. Te glue that holds it all together for Livespins is that it's a social space.
How flexible is the product from a player perspective?
Te product is built with full flexibility for the player. If the streamer is betting £10 or €100, the player can join at 5¢ or 10¢, whatever the lowest monetary value that the game allows. Tat is 100 per cent at the discretion of the player. By way of product, the player comes in through the operator, so they've gone through their KYC and existing limits. Effectively, Livespins is just like any other game provider on an operator's website. Te product is presented in a framework the operator facilitates.
How does a Livespins streamer differ from those you see on Twitch throwing chairs around the room?
Tis is something I am very passionate about. Tere is a category called 'affiliate streamers' who make a living through affiliate deals, sending players to casinos, and presenting game content on behalf of providers. Te
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