Steve Donoughue is a gambling consultant with experience in the field of more than 20 years. He has been a freelance consultant for the greater part of his career and has worked with some of the world’s biggest gambling operators and software developers, lawmakers, regulators, and many more.
Steve spent a little of his precious time to answer a few questions regarding the current iGaming environment and what comes next for the online gambling industry. Given his experience in the field, he has certainly provided us and our readers with some quality information.
How would you describe the European iGaming environment at present?
At various stages of maturity, intensely competitive, highly expensive to operate in.
Is it easier for start-ups or for established gambling operators to tackle the issues and challenges arising from the constantly changing regulatory environment?
It depends. There are some start-ups that realise that regulatory compliance is a major part of the business function and there are some established gambling operators who don’t and vice versa. Arguably it is easier to put structures in place at the beginning to ensure the flexibility necessary accommodate regulatory change but unfortunately that can seem like unnecessary cost and resources at start up. That’s why getting a good adviser (such as www.gamblingconsultant.co.uk) is so important from the very beginning.
Which are the markets that are likely to bring continued growth?
Continued growth is based on factors such as growth in population, disposable income, Internet and mobile penetration, and the semi-fixed cultural factor. With the economic cycle improving, all markets should see top level growth, the question is the costs that go with it
Which jurisdictions, both across Europe and other parts of the world, hold the best prospects for regulating their markets in the next few years?
Difficult question. I don’t see any major market becoming regulated in the short term. We need markets like Germany and the US to come out of the dark ages and regulate and tax their online gamblers rather than leave them to the unregulated market. Prohibition is never the answer.
There is quite a lot of competition within the iGaming market. What factors and values would help operators attract new players and retain existing ones?
Innovation is what makes people come to your website. Be that in your marketing approach, the technology you are using, the games you offer, or the betting markets you provide. Good customer service, innovation, interest, and value for money is what keeps people on a site.
What is the best way for an online gaming company to promote responsible gambling?
Use technology to monitor your customers play and communicate with your customer if volume or frequency change. Educate your customers how to play and how to spot if they’ve got problems. Make responsible gambling at the very heart of the business and have a social responsibility director who reports directly to the Board.
How would you describe the new generation of gambling customers? How can an operator keep them engaged?
Young adults of today were brought up on PS4 and Xbox – that’s the digital leisure experience they’re used to. Customers of tomorrow are mobile-focused and will think like that. Your 2D PC-based gambling site will be a game for old men soon.
And talking of men, think about the other 50% of the population as well.
What is the best way for operators to cope with the changing demographics of gambling customers?
If you’re a land-based operator, then think ramp access and extra-large signage and buttons – your customer group is aging rapidly.
If you are an online company, just remember nothing stays the same and the job of a CEO is to always be looking around the next corner and getting your company ready for it.
Remember, I am just middle-aged and remember gambling without Internet, gambling on the Internet with dial up, how we thought interactive TV was where the business would be focused, just how awful WAP was on mobile phones and now only within 20 years, we have super-fast broadband and the industry transitioning to being mobile-focused. There are just two levers in this industry: technology and regulation and sitting on the left hand of every gambling CEO should be his CTO and on his right hand, his lobbyist
Which new technologies are likely to move the iGaming industry forward?
I’m not convinced with VR and wearables just yet – but give it a few years and they could be big
I’m more interested in new ways of gambling – remember casino games and sports betting just appeal to a small percentage of the population.
What will grow the market? Is E-Sports just too nerdy to ever take off? I don’t know.
