A LOOK FORWARD Fincore John Chyriwsky, head of marketing


One of the ways we do this is by keeping our eyes on the horizon and understanding emerging industry trends along with the challenges and opportunities these will present to operators. Here’s what we predict for the iGaming industry in 2024.


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CONTINUED MARKET GROWTH ACROSS THE GLOBE IN 2024 - BUT SOME OPERATORS WILL LOSE OUT


We expect growth to continue across the global industry, as all governments are struggling for revenues and so the tax opportunities from having a regulated iGaming market are too significant to ignore. However, various challenges facing the industry will mean some operators will still miss out. The reason is that while the number of regulated markets grows, they will each have their own regulations and niche customer expectations. But to thrive in these new opportunities, operators will need to be able to tailor their specific proposition and customer experience to that market. A one-size-fits-all approach won’t work.


So, it’s important to have the right technology and software partner to support that, where you can have control of your own roadmap, ensuring you can have localised customisations executed for a specific market.


t Fincore we create software that helps sports-betting, casino and lottery operators reach their full potential.


THE SPEED AND EASE AT WHICH YOU CAN CREATE REPORTS AND CUSTOMER SEGMENTATION WILL BECOME A COMPETITIVE ADVANTAGE


Reporting will become easier because the integration of AI into modern tech platforms can spell the end of dealing with complicated Excel files to produce useful reports. Natural Language Programming (NLP) will enable simple natural language requests for reports and easy customer segmentation, which in turn will enable quicker decision- making and more effective marketing campaigns.


We also foresee an increased use of data that will give operators actionable insights which can help drive increased personalisation and player engagement.


EMERGENCE OF HYPER- PERSONALISATION AS A KEY DIFFERENTIATOR


There are currently lots of operators or platforms collecting data, but the magic lies in having the actionable insight to do something with it. Without a doubt, the race for super personalised experiences will be behind the drive to achieve key competitive advantages. Operators need to be thinking about how they are going to enable a more personalised experience for players this coming year. Will they be falling behind their competitors if they’re using an old legacy stack, where it’s more difficult to achieve better personalisation?


PERSONALISATION WILL STRETCH TO CONTENT CREATION, WITH INNOVATIONS TARGETED AT CERTAIN DEMOGRAPHICS AND PLAYER SEGMENTS


We expect to see more innovation targeted at specific groups of customers, to give them something different. With emerging trends such as skill-based games or more social integration, this year’s games will be more targeted at certain demographics and player segments. So, the ability for studios or operators to create content and get it market quickly will put them ahead in the race for share in these segments. The more game developers – and iGaming companies – know and understand their customers, the better the experiences they’ll be able to create for them in 2024.


BETBAZAR I


n a sector that pivots and evolves as frequently as iGaming, making industry- wide predictions for the year ahead has the potential to make any company look foolish very quickly – but that being said, at BETBAZAR we still think there will be a few important trends that we can confidently predict for 2024.


The first is a fairly obvious one and centres on mergers and acquisitions, which is an area that BETBAZAR hopes to be very active in throughout the year. With companies facing increased pressure to expand and scale at speed, MA activity is vital to maintaining any business’s forward momentum and can help them integrate new technologies and skills much faster than building them up internally. As such, we expect many smaller iGaming companies to be acquired by bigger


businesses throughout the year as they look to strengthen the range of products and services that they’re currently bringing to market – Betbazar as b2b iGaming marketplace also looking for interesting industry startups to expand the portfolio.


Secondly, we’ve already seen the increased adoption of AI technologies over the past 12 months and this has definitely led to further advancements in the field of personalisation. With companies now able to deliver a tailored experience to customers that’s backed up – and even in some cases automated – by


solid underlying data, we expect experimentation in this field to increase dramatically.


Lastly, for companies providing a sports or esports betting service, live streaming has become an increasingly important part of their offering. As live streaming is capable of not only creating a more engaging user experience, but also potentially driving activity towards many lucrative in-play betting markets, we’d definitely expect operators to improve their efforts to make this feature easily available.


Of course, with technology and player trends adapting at what is now an exponential rate, there will undoubtedly be many more as-yet unforeseen developments in the industry throughout the coming year. However, at the time of writing, we feel that these three aspects are some of the more sure-fire areas of development that both operators and suppliers will be focusing on over the next 12 months.


GIO JANUARY 2024 15


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