The rapid growth of interactive gaming provides a window into the future of our industry. Online sports betting, daily fantasy sports (DFS), online casinos, mobile on-premise gaming, online lottery, and other forms of digital betting already have an Amazon-like impact on the entrenched brick & mortar business model. Younger players, disinterested in traditional casino games like slots, are flocking to iGaming. Operators who are not all-in on interactive at this point risk becoming the gaming equivalent of Toys R Us, Sears, or Radio Shack--once important organizations whose businesses failed because their leaders needed to recognize their customers' changing preferences.
Success in iGaming will ultimately boil down to a few factors:
- Perseverance
The Department of Justice's recent revised interpretation of the Wire Act reminds us that iGaming remains relatively uncharted territory. This event will trigger months of speculation, media coverage, and legal activity to seek long-term clarity. However, one thing is clear: organizations who wish to participate in iGaming's future need to remain nimble and proactive while seeing long terms partners capable of providing both the resources and thought leadership necessary to help navigate choppy waters.
- A Seamless User Experience
Amazon wrecked the traditional retail model because it understood that if consumers could get whatever they wanted, when they wanted it, by paying with whatever they wanted, they would. The same is valid for gaming. Even a casino's best players want to stay in some nights. And if the competitor down the highway offers mobile gaming, you don't guess what?
- Simple Means of Funding and Paying
Banks don't understand gaming, and most don't like it. Today, many banks still opt to decline consumer debit and credit transactions--especially for iGaming. And they will continue to do so for a while. Offering multiple reliable ways to fund play and pay customers--while obvious--is still a challenge and is imperative to iGaming success.
Want to learn more?
We are committed to helping customers along their iGaming growth journeys. Here are a few helpful resources:
- "Show Me Your Wallet," a recent article from Chris Justice on iGaming funding challenges
- Learn how Hard Rock Atlantic City and the Pennsylvania Lottery are tackling iGaming account funding and disbursements
- Learn more about our interactive gaming solutions
