Domenico Dragone is an iGaming expert with over ten years of experience in the retail market in Italy and knowledge of global online gaming. He has previously worked with the largest national gambling companies and managed some land-based shops on their behalf.
In 2015, Dragone founded an international news and social marketing agency geared toward sports, esports, and gambling companies.
He currently works as a CEO in his agency and collaborates with gaming providers and event organizers to help them to develop networks and businesses across continents.
Domenico Dragone has shared insights into how iGaming has evolved over the past decade, the Italian business market, critical advice, and future trends in the industry.
As an iGaming expert with extensive experience in retail and online gaming, can you share some key insights into how the industry has evolved over the past decade, and what trends do you anticipate for its future?
In the last decade, gambling has never stopped transforming, and we can say with certainty that it will continue to do so in the future! An exponential evolution that has involved both companies and delegates but also gamblers.
On the B2C side, new fashions, trends, and lifestyles have changed end users, transforming them from simple enthusiasts of sports bets and/or classic slot games into lovers of virtual games, titles with progressive jackpots and crash games, or fantasy football fanatics.
The advent of the online market has been an essential crossroads recently, and most future trends will concern the web market.
On the B2B side, however, many progresses have been made in the field of software and technologies!
In the past, it was necessary to invest large amounts of money to do both online and retail business, investments necessary to build reliable, high-performance, and effective products from a technical and practical point of view.
Assembling gambling solutions today is decidedly simpler, less expensive, and faster. Therefore, the market has opened the doors to interesting smaller realities, which have, however, offered a significant contribution in terms of new ideas and trends to the industry, generating comparison and healthy competition.
Another significant evolutionary factor has been the legalization of gambling in more and more States. This changed the global concept and led to numerous developments on all continents by the industry. The regulation of gambling has made the offer safe and stimulating, and many companies have decided to invest in it with the protection of specific laws and guidelines to follow.
Third noteworthy analysis, I think it is worth making on the payments system; a lot has changed for the industry thanks to the introduction of new ways to exchange money – cryptocurrencies stand out among them all!
Of course, other exciting factors have fuelled the market’s rapid and prosperous growth, but these have been some of the most influential.
Speaking of the future, artificial intelligence can dare to make a valid contribution to future market developments, so it is very likely from this point of view that we will find great results. While in the immediate term, many changes could come with the current reform that is involving the Curacao licensing world.
As an entrepreneur and investor in the iGaming sector, what strategies do you employ to identify promising opportunities in this highly competitive market?
The gambling market offers many investment opportunities, but specific skills and knowledge are used to identify opportunities to invest without wasting time and money.
For my business, I generally prefer to focus on emerging iGaming markets. I’m certainly not the only one who has targeted markets such as Africa and Latam.
There is no real strategy! It is a simple territorial study of population numbers and increasingly advanced technological development for the average of those areas.
In South America, in particular, there are a large number of states in economic and political evolution, this is excellent news for the industry, and in the coming months, these changes will encourage investors.
Collaboration is vital for success in the gaming industry. How do you establish and nurture relationships with game developers and event organizers across continents to facilitate network and business development?
Networking is the most exciting aspect of our work. Meeting, relating, and cultivating contacts with friends and partners is crucial for anyone who wants to do business with gambling.
Business lines capable of leading who knows what goals are born and developed from a superficial understanding or discussion, which is why it is vital to keep the network alive.
Every year we see changes in positions at the top of more and less important companies, so this fast-changing market offers countless opportunities that can only be managed wisely with careful management of contacts.
Today we have no excuse not to stay in touch with our friends and partners; we enjoy countless advantages dictated by communication methods. There are increasingly automated social networks capable of reminding us of the birthdays of our contacts and even notifying us if there are anniversaries to celebrate again. We have Skype, WhatsApp, or Telegram to send a simple Hey, how are you? Not to mention the land-based events!
How do you balance the interests of various stakeholders, including gamers, gaming companies, and regulators, to create a sustainable and responsible gaming environment?
An excellent legal gambling product is already a complete option that guarantees safety, business, or entertainment for the parties involved. It is difficult to imagine as a concept: authorities, gambling companies, and players travel on the same line!
All are part of a circuit of mutual respect and balance that guarantees continuity of interests.
The state legislates to regulate both the business actions of the companies and the entertainment options for the players. The iGaming market provides certified solutions that offer fair gaming with good returns on proper and regular winnings, while players invest their money with awareness to have rights that, if not respected, can be challenged and enforced.
In gambling, interests are common, and the whole chain works in symbiosis for a single goal!
Online gaming platforms often face issues related to security and data privacy. What measures should be taken to ensure the protection of users’ data and maintain a secure environment?
Unfortunately, the problem of data security and privacy is a problem that does not only involve online gaming but the whole web without distinction. Social networks and the continued actions of governments to limit their online range are perhaps the practical demonstration of how difficult it is to keep the web safe.
Today everything is online, so for a gaming site, we must pay attention to home banking, email providers, etc.
iGaming is one of the most attentive categories regarding data management and security. There are specific laws that organize the entire supply chain, and a legal site should guarantee 100% of every aspect of safety,
Compared to the past, today’s gaming sites are much safer and less vulnerable to cyber-attacks. This means less risk of losing data which could be dangerous in the wrong hands. Cryptographic systems also allow users to handle payments and other data safely and securely. On the privacy side, and in particular, concerning self-excluded players, we have recently witnessed numerous lawsuits and very high fines against those bookmakers who have not respected the players’ wishes or have acted in a manner respectful of privacy, so I think we are much progress on this aspect. Much has been done to work in this direction.
The iGaming industry can be fast-paced and dynamic. How do you stay updated with the latest trends and developments to maintain a competitive edge in the market?
Although the iGaming industry may seem very standardized in terms of supply and demand, it still presents numerous opportunities for vertical development. However, it is not easy to follow its evolution while remaining seated behind a classic desk in one’s office.
Every company and its delegates must travel the world for inspiring ideas and solutions that can be quickly sought in sector events.
These appointments are the right opportunity to get information and to share passions and ideas helpful in creating competitive advantages for our businesses.
Every month there are meetings, fairs, and much more, so don’t miss these great networking opportunities!
What advice would you give aspiring entrepreneurs and professionals looking to enter the iGaming industry, particularly those who aim to impact the sector positively?
In business, as in life, we want to generate positive impacts in what we do, but not making mistakes is practically impossible. The essential advice may be not to give up even if things don’t go as planned.
In gambling, as in any other activity, you must fight to get what you want, but making a few mistakes is normal. So don’t worry, improve and fix what didn’t work until then! However, in the preliminary phase, a vital sector study and in-depth analysis of territories, projects, and business plans is optional.
Among the other tips I could dispense, we indeed find that of surrounding yourself with trusted and expert people. Whether a new entrepreneur or a delegate, you need someone to help you take your first steps on the market and guide you toward your first goals.
Third tip: don’t imitate… customize your project and be a pioneer! Study the markets, travel, participate in events, and create your business idea based on what you see and think. Your intuition could be the winning key to the success of your project.
