In the dynamic betting marketplace, with a constant increase in demands and expectations from betting operators, IGT is proud to introduce the new IGT Betting Platform during ICE 2016. The platform is live in Italy, and supports the Lottomatica Betting products across all channels. We look forward to demonstrating the new solution during the trade show.
The IGT Betting team is observing and analyzing an industry currently going through a change in positioning and competitive edge. The gaming market is consolidating with new solution and service providers that are battling the few established ones that still exist. Who can today say that they have the best betting-solution? There are very few surprises left to reveal. More than 15 years of R&D and trial and error has created highly sophisticated back-end solutions to secure target margins, and front-end interfaces that are optimal for any player in any market.
In the most dynamic and entertaining part of the gaming industry, there are of course still challenges and hurdles to work with. Saturdays highlight all the favorite winnings that will happen again and again, with exhausted traders and sports book managers losing sleep all over the world. In addition, the evolving need for tools to spot, and act on, suspicious betting behavior. The new IGT Betting platform has been designed to deal with all unique aspects of the betting business, regardless of channel, product or sport.
So what will matter in the next generation of betting solutions and services? We can perhaps identify a few trends…
- Whether the market for risk management services is either isolated or part of a larger package, it’s becoming crowded and we will see increased competition in years to come. We can surely also expect significant consolidation in this sector in the near future. In this competitive landscape, the most successful service providers will be those who can offer flexibility in terms of reliable, fast, efficient, and cost effective service packages that exactly fits the operator’s requirements. These packages can be utilized for a national lottery, a multi-national commercial giant or a single casino.
- With betting technology solutions that are becoming almost generic, competitiveness will be decided by time-to-market, price, level of integration, and by the capability to adapt to unique market conditions and comply with local legislations and demands. In addition, there will be an enhanced capability to support omni-channel strategies, something that national lotteries are very focused on at the moment.
- Complete end-to-end betting services provided by ONE partner will probably not be offered by many companies as a basic and consistent package. Instead, we will see a dynamic market with different Joint Ventures popping up, depending on each opportunity. It will be very interesting to monitor the evolution in this field, and to see who teams up with whom.
Another interesting observation is that product development (regarding new games and offers) in the betting business is challenging. For product offerings, live-betting has been everyone’s focus over the past few years but we are surely witnessing the peak, and potentially the maturity and stagnation of this part of the offer now. In addition, the increased importance of mobile is of course another example of recent industry evolution.
What’s next? Is there a new type of offer worth 50% of the GGR waiting to be discovered? Can personalized mobile features be thing to look out for?
The new IGT Betting Platform is designed to meet the expectations of any operator in any market with these key advantages:
- IGT’s unique combination of platform and services whereby the customer can chose from a variety of business models (tech only or full end-to-end services, or anything in between).
- Our “industry strength” platform, which combines GTECH, Finsoft and Lottomatica that have partnered with the world’s largest gaming and lottery organisations since 1986.
- A high degree of automation (both routine tasks and advanced derivatives) to allow cost-effective use of traders’ time.
- Global footprint backed by local IGT presence in each region
- Omni-everything; omni channel, all betting products (FO and Pools, all types of betting: Europe, UK, US and Far east)
The IGT Betting team is prepared to deal with future challenges, no matter if they are technical or services related. We will continue to pursue opportunities, optimize our solutions and services, and focus on growing our share of the Betting market. We look forward to displaying the IGT Betting Platform at ICE 2016.
Marketing Director Betting
Sports fan always ready to play ball