Participants:
Giorgi Tsutskiridze, Chief Commercial Officer at SPRIBE
Keith Goddard, Chief Executive Officer at Blaze Gaming
Katya Machuganova, Gaming Product & Partnership Manager at Silverback Gaming
From your experience, what have been some of the biggest differences in strategies and technical requirements for entering and sustaining growth in mature regulated iGaming markets compared to emerging markets?
Giorgi Tsutskiridze: In mature markets, the focus is often on compliance, security and customer retention. These markets have stringent regulatory requirements, necessitating robust technical infrastructure and advanced security measures.
Additionally, player expectations are higher, so delivering a seamless UX with high- quality graphics and features is crucial. Conversely, emerging markets prioritise rapid deployment and scalability. Strategies in these markets often include localised content, mobile-first approaches and flexible payment solutions to cater to diverse user preferences and infrastructure capabilities. The key differences lie in the level of regulatory compliance, the sophistication of technological solutions and the focus on either UX or speed to market.
Keith Goddard: In mature markets, the focus is primarily on regulatory compliance and sophisticated user experience. Companies must navigate complex legal frameworks and ensure they meet stringent licensing requirements. The technical infrastructure needs to support advanced features, such as live betting and high-level security protocols, to meet user expectations. Conversely, in emerging markets, the emphasis is on market education and building trust. Strategies often include mobile-first approaches due to higher mobile penetration. Technical requirements are geared towards scalability and flexibility to adapt to evolving regulations and user behaviours. Understanding local preferences and providing localised content are both crucial to success in these regions.
Katya Machuganova: The difference between emerging and mature markets is huge! Of course, they both require completely different operational and technical strategies to succeed. For the more mature markets, the most obvious difference is that there is a greater focus on compliance. Market entrants must ensure that they are acting in accordance with local regulations – and fully expect to face regular audits to ensure you’re complying! Mature markets also tend to be much more saturated. Brands face an uphill battle to stand out from the crowd, so you see many utilising more creative strategies such as loyalty programmes, VIP schemes and localised content to retain players.
Emerging markets are entirely different. The first thing to consider when entering an emerging market is understanding local dynamics – what do players want? How do you educate them on your products? The best way to gain that understanding is by entering the market with a local partner. This not only allows you to understand how best to acquire players, but also helps keep you abreast of any developments, and more importantly, helps you to stay compliant. To navigate the changing dynamics of an emerging market, gaming companies must be much more adaptable with their platforms in emerging markets.
How can iGaming companies effectively balance investment and resources between maintaining a strong presence in more mature markets and exploring growth in new, emerging markets?
Giorgi Tsutskiridze: To balance investment and resources effectively, iGaming companies should adopt a dual-strategy approach. For mature markets, continuous investment in compliance, security and customer experience is essential to retain player trust and loyalty. Leveraging data analytics can help optimise marketing efforts and personalise player interactions. For emerging markets, flexibility and adaptability are key. Investing in mobile-friendly platforms, localised content and alternative payment methods can drive growth. Allocating resources based on market potential and regulatory ease can ensure a balanced approach. Establishing dedicated teams to focus on each market segment can also help maintain a strong presence while exploring new opportunities.
Keith Goddard: Balancing investments between mature and emerging markets requires a strategic approach. In mature markets, continuous investment in technology upgrades, user acquisition and retention strategies are vital to sustain long-term growth.
These markets often generate steady revenue streams, thereby justifying ongoing investment. Emerging markets, however, represent growth opportunities that require calculated risk-taking.
Allocating resources to market research, regulatory navigation and localised marketing efforts is essential. A balanced approach involves leveraging the revenue from mature markets to fund expansion into emerging ones, ensuring that the company can capitalise on new opportunities without neglecting its established customer base.
Regularly assessing market conditions and adjusting the strategy accordingly helps in maintaining this balance effectively.
Katya Machuganova: This is a tricky question, and one that I think requires a four-pronged approach. For any business, it’s important to understand how you plan to allocate your resources when entering a new market. The best way, we’ve found, is to take a data-driven approach by carrying out market analysis and gaining an understanding of player data to prioritise where you should be making your investments.
One key area where brands should be investing is their technology solutions. I cannot emphasise enough how important it is for gaming companies to invest in adaptable technologies that can be tailored to an individual market. It’s also important to also have dedicated teams within each individual market, that way you can understand the specific needs and demands of the local audience.
The second prong comes down to defining your strategic focus. In mature markets, the spotlight is much more on innovation, new features and enhanced user experiences.
But in emerging markets, that focus is placed on growth, particularly on establishing brand presence and building a user base. This is where that boots-on-the-ground team comes in handy! The third prong, which might sound obvious, is financial planning.
Gaming companies must ensure that they are allocating their budgets proportionally, based on the market potential and revenue forecasts. You must also take risk management into consideration – perhaps consider diversifying your investments to minimise the impact of market volatility and regulatory changes.
The fourth and final consideration is having an in-depth understanding of your long-term vision for each market. What do you actually want to achieve? By developing a long-term plan, that includes both maintaining dominance in mature markets and expanding into emerging markets, as well as continuously evaluating your performance, you can create a much more sustainable strategy for growth across the board.
How does your strategy differ across new and emerging markets?
Keith Goddard: As a producer of gaming content, Blaze Gaming prepares its strategy to balance investment across multiple market segments by emphasising content and cultural differentiation. We prioritise working with local designers to leverage their cultural knowledge and ensure we are attuned to local trends. This collaboration allows us to create region-specific themes, characters and storylines that resonate deeply with local audiences.
Our commitment to cultural relevance, combined with our global standards of quality and innovation, ensures our content is engaging and impactful. Additionally, we maintain a flexible technical infrastructure to support easy customisation and scalability, allowing us to adapt swiftly to different market demands. By integrating local insights and ensuring technical adaptability, Blaze Gaming successfully caters to diverse markets, driving engagement and growth worldwide.
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