The gambling industry is constantly changing and evolving. To be successful, both iGaming operators and software providers have to stay on top of new trends and developments.
GBC has conducted an interview with Elliott Banks, the Reginal Director at tech and services production company BetConstruct. Mr. Banks has provided an in-depth overview of the iGaming industry in the UK and talked about key trends in the games of chance production.
Elliott, could you give a brief overview of the gambling industry of the UK from a software provider’s perspective? What are the main trends and new developments in online games of chance?
The Gambling industry in the UK is steeped in history from a land-based perspective first and foremost and while land-based has had its fair share of struggles over the last two years, it will return to its full strength as restrictions and infections continue to decline and people once again seek the entertainment they once enjoyed. That being said, online casinos and sportsbooks have seen continued growth and will maintain this pattern of growth as an accompaniment to their land-based counterpart.
Virtual and skill games are building a solid reputation in the UK, with the new age player, engaging graphics, and easy-to-understand rules. Crash games as they are better known are open and honest, most running on a provably fair model, which pre-determines the next 5 results ahead of the games being played.
In my opinion, skill games/crash games should have a promising future in the marketplace. As software providers, we have to be ahead of the curve when it comes to player protection and suitability.
What about land-based casinos? Could you name some gaming innovations in the live casino sector?
Having briefly touched on land-based earlier, I can say that while the saying goes why would you reinvent the wheel, when it comes to land-based casinos, they are doing just that and finding success in doing so. Changing outdated technology and perceived opinions of how a casino should be in order to adapt to the change in players’ tastes, interests, and the rise of esports and gamification. This is leading to innovations in progressive jackpots, types of games offering more side bets the opportunities to win beyond the standard odds for a chance to take home a life-changing amount of money without having to stake more than what you previously would have in most cases. Wide area networks for jackpots allow multi-site operators to offer huge prizes across more than one casino. esports lounges and fast-paced table games appeal to the new age demographic and, while it is not new, the technology allowing the streaming of a land-based table to online builds player trust because if they so choose, they are able to sit at the table in the casino or play at that same table at home.
Which gambling products are the most popular among the UK players?
Players in the UK are arguably some of the most educated when it comes to gambling. This largely stems from the amount of time the market has been available.
Roulette and blackjack are staples of the UK online casino. But as the demographic for online gambling continues to diversify, we are seeing increasing interest in immersive slot games and skill-based games. As a nation, you would be hard pushed to find someone who hasn’t played the lottery and of course, the Grand National continues to be a highlight of the novice gamblers’ year. Aside from casinos, betting on football, horse racing, and tennis continues to be the top three when it comes to having a punt.
What is your opinion on crypto gaming in the casino and sportsbook sectors? Is it just a new trend that’s going to pass by quickly or is it the next big thing in iGaming?
I think that crypto has a firm place in the gambling industry, I mean, trading crypto is a gamble in itself. However, for heavily regulated markets like the UK, it will be far from welcome in its current form. For the UK market to adopt crypto into its betting scene it would need to be subject to the same level of checks as traditional deposit and play methods.
Could you give some tips for establishing effective communication between gambling ops and software providers?
Trust, this whole industry works on trust in a setting where a share of revenue is the most common commercial aspect you are relying on a level of trust in both directions. An operator needs to trust that the software is robust enough to handle the task at hand, and the software provider needs to be able to trust that the operator is going to make informed decisions and execute marketing in such a fashion that there is going to be revenue to share. A better man than me once said: “20% of nothing is still nothing”. My advice, be honest and open, look for the problems, and find the solutions together.
How can sportsbook or casino software providers ensure regulatory compliance from their side?
Invest in compliance resources. Nothing is more important to maintain licenses and good practice than having the professionals who live and breathe compliance in your corner.
In your opinion, how will the gambling industry transform in the next 5 years?
Who can really tell what the future holds, my predictions would be an overall increase in regulated markets under local licensing, the continued development of new ways to engage the player whether that is through loyalty systems, VR, or gamification.
Read more: Best iGaming Aggregators
