Navigating iGaming's Choppy Waters

Jan 22, 2019 2:32:42 PM / by Global Payments Gaming Team

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 are already having 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 failed to recognize the changing preferences of their own customers.

Success in iGaming will ultimately boil down to a few factors:

1. Perseverance

The Department of Justice's recent revised interpretation of the Wire Act reminds us that iGaming remains relatively uncharted territory. This event will no doubt trigger months of speculation, media coverage and legal activity in an effort 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. 

2. A Seamless User Experience

Amazon wrecked the traditional retail model because it understood that if a consumers could get whatever they wanted, when they wanted, by paying with whatever they wanted, they would. The same is true for gaming. Even a casino's best players want to stay in some nights. And if the competitor down the highway offers mobile gaming and you don't, guess what?

3. 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:

- Global Payments Gaming president Chris Justice discusses iGaming account funding with Global Gaming Business' Roger Gros

- "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

- Meet us at ICE London. Our iGaming thought leaders will be attending ICE London in February 5-7, 2019. Schedule a meeting today.

SCHEDULE A MEETING

Topics: iLottery, iGaming, mobile casino, social gaming, sports betting, Daily Fantasy Sports, interactive gaming