The social element of poker makes it unique and the game needs to be marketed as such in order to ensure success, writes EvenBet Gaming’s CEO Dmitry Starostenkov

Driven by the use of advanced technology, improved mobile interfaces and new game formats, the online poker experience has gone from strength to strength in recent years. Many operators see the value in diversifying their offerings with a product that not only engages with millennials, but also boosts turnover dramatically when deployed correctly.

However, poker is a distinct outlier in the world of gaming for its social element. This may not seem like a big distinction, but it makes the retention and acquisition of players entirely different. 

Operators must ensure they are offering a range of features to maximise player engagement. This inspired us at EvenBet to create a marketing guide entitled: “Acquiring and Retaining Your Poker Players,” which is available to download for free HERE. Here are some of the key findings of our report.  

Bonuses: A little goes a long way

There is a wide variety of bonuses that reflect players across all stages of their lifecycle, from beginners to seasoned players. Applying the right bonuses to the right players is key to success.

By using sign-up, first deposit and reload bonuses, bettors can receive instant gratification which is likely to keep players coming back. 

However, this marketing strategy should be used with caution as it runs the risk of attracting players that are solely on the hunt for bonus offers.

A first deposit bonus, in which the operator matches the player’s first deposit, has become a vital tool for remaining competitive with so many affiliates on the market and also inspires loyalty. Most sites will match 100 per cent of the player’s deposit up until a certain amount, but some have found value in going as high as 200-300 per cent. 

Tournaments: Understanding the varieties

Friendly competition is the whole point of poker, but there are several different tournaments the operators can opt for and it is important to apply the right format for different players.

Freerolls tournaments do not have a buy-in and are best offered to new customers. This allows them to explore the environment and become comfortable with their surroundings. They can learn who plays in the room and how well they are likely to do there. It is typical for a site to offer about a week of first deposit freerolls.

In guaranteed prize tournaments, the operator puts up the prize money. Knowing this amount from the start makes the tournament very attractive for customers. However, this can tempt professional players. This could mean the buy-ins equate to less than the guaranteed prize money, which would result in a loss for the operator.

Spin & Go tournaments start when there are three players registered. The prize pool is not made up of the buy-in fees, rather the pot is multiplied by a random number, which means the player could potentially win far more than their buy-in fee. These are fast-paced games, designed to appeal to players that might find regular poker too slow.

Meanwhile, in Satellites players compete for the chance to take part in a tournament with significant prize money, which would require buy-ins of 3-5 figure sums that many would not be able to afford.

These are just a few of the options available, and there are plenty of additional settings that work as cherries on top, so creating and constantly improving a tournament grid is probably the main challenge for poker operators.

Jackpots: the big draw

Jackpots draw players into both online and offline poker rooms and keep them seated longer. The room comes to life when a jackpot is paid and players agonise over near misses. Even though jackpots look like a retention marketing tool, they also serve as a source of acquisition. More winners create more word-of-mouth advertising that helps attract new players. But, as with tournaments, various jackpots are tools to deal with different situations and customers.

A bad beat jackpot is awarded when a player with what appeared to be strong cards loses the game, for example, if Jack Quads were beaten by a Straight Flush. The unlucky player defeated by a bad beat will receive a jackpot if certain requirements are met. Typically, the player who lost the bad beat hand will receive 50 per cent of the jackpot, with 25 per cent going to the player who won and 25 per cent to the remaining players. This goes a long way to ensuring the losing player does not leave the game in frustration.

The Monte Carlo jackpot is awarded to players with extremely high hands, while a Smart Jackpot is similar to a Bad Beat, but is only available during certain times. This can be used to leverage players into rooms that would otherwise be unpopular at that time.

Segmentation: Sophisticated customer targeting

It is important that players feel rewarded for their loyalty. The longer they remain on a site and the more games they play should result in going up in levels. This allows the operator to reward players of higher levels with greater incentives. For example, give them a bonus when they reach a higher level or give them a higher percentage of rakeback. 

This allows the operators to easily introduce further incentives including VIP tournaments for elite players, set up cash tables for players of particular levels or organise tournaments and tables by the currency the players prefer to use. 

Missions and quests: complete objectives for prizes

Missions and quests are ways of making the poker experience more interactive. These involve giving players a task they need to perform, for example, make a deposit, play a game or play a tournament. The players then receive an award which could be cash, a level boost or merchandise. This can help new players navigate their way around the site while enjoying a sense of accomplishment from the rewards.

To find out more about the engagement and retention tools available on the EvenBet platform, read the “Acquiring and Retaining Your Poker Players” guide HERE.

The post EvenBet: The most effective tools to keep poker players engaged appeared first on CasinoBeats.

Dmitry Starostenkov, CEO at EvenBet Gaming, said: “I’m very excited to release this white paper to the wider industry, and I hope it will generate constructive discussions about what we know to be significant challenges and opportunities in the sector.

“At EvenBet, we’re constantly working to improve both our back-office and customer-facing solutions. Armed with this information, we and our friends across igaming are better placed to take advantage of current trends, which further benefit the end-product for players.”

Unsurprisingly, cryptocurrency adoption was pinpointed as the biggest trend in 2022. But slightly more interesting was the markets that have captured the industry’s attention this year.

The report found that “everybody is looking outside of Europe”, and instead are taking a punt on newer, emerging markets such as Asia, Brazil and the US.

The whitepaper read: “The second most mentioned trend was the tightening regulation across multiple jurisdictions, sometimes going together with privacy and marketing-related changes in the industry. This was equally important for the operators and the vendors.

“Could we say that Europe isn’t any more interesting for the igaming companies’ future development? Talking about the objectives, both vendors and operators pointed at Asia and Latin America, and sometimes North America, but almost never Europe.”

The majority of betting companies have been “preoccupied” with player acquisition over the course of the last 12 months, with many “constantly looking for new ways to generate traffic” – and one respondent to EvenBet’s survey stating that “player acquisition and attribution is the main focus” for their business.

When questioned on the most pressing challenges facing the igaming industry going forward, EvenBet said that “respondents were less united” in their views. Hiring talent, new growth opportunities, the war in Ukraine and the looming threat of a global economic crisis were some of the recurring themes, however.

You can download the White Paper here

The post EvenBet Gaming: igaming companies no longer taking a gamble on European markets appeared first on CasinoBeats.

Evenbet Gaming recently announced the launch of its Game Constructor tool, with the company holding ‘high-expectations’ that it ‘will be well-received by operators across the globe’.

Those were the words of Evenbet Gaming’s CEO, Dmitry Starostenkov, in response to the online poker provider’s launch of a gamification tool that allows operators to modify and design their own poker games.

Installed in the back-end of online casino operators, the company’s tool will see affiliated platforms become able to cater poker games to differing global audiences, in a bid to increase their partners’ player bases. 

In an interview with CasinoBeats, Starostenkov highlighted the significance of the Game Constructor for expanding global outreach, before delving into future plans to eventually allow players to design their own poker games themselves. 

CasinoBeats: What encouraged the development of this new gamification tool to allow operators to make their own customisable poker games?

DS: Ultimately, it comes down to the next phase of modernising online poker and delivering a concept that will make a real difference to the way operators can engage with their players, as well as attract a wider audience. 

As one of the leading poker platform providers within the industry, we understand the challenges that operators worldwide face and are committed to bringing solutions that enhance their operations.

With EvenBet Gaming’s Game Constructor, operators now have the ability to introduce unique content to their offering by tailoring any of the 30+ existing games on our platform to suit their players’ specific preferences.

It also offers operators powerful analytics on identifying player’s preferences. By conducting

experiments, they will get a clear indication of which modifications have higher demand, and so shall we. This will give us a great indication of the direction player preferences are moving in, allowing us to keep the platform as up-to-date as possible. 

We certainly have resources to create new games in-house but thanks to this tool, we’ll be able to analyse and to prioritise the most-played games. Needless to say, we have high expectations this will be well-received by operators across the globe.

CasinoBeats: What impact do you think this new tool can offer operators and the way players engage with their platforms?

DS: The key benefit for operators is that they can differentiate their existing poker offering, as well as produce content that they know will resonate with their own customer base and attract new players. 

Operators know their audience better than anyone else, so handing greater control over to them on how our games are presented to the end user makes complete sense to us. 

By utilising our extensive experience of over 18 years in developing highly engaging poker content for players worldwide, they can make the necessary adjustments at the front end to ensure the games they are offering are the right fit for their brand, and crucially, elevate their offering to new heights.

CasinoBeats: Now that the new mechanism has been launched, what has the initial response been like from players and clients?

The initial flurry of operators we have spoken to about Game Constructor have spoken very highly of the tool and believe it will be hugely beneficial to them. Particularly within mature markets where poker is already popular, there is a need to evolve the overall experience and introduce players to new formats. We’ve already achieved this by offering over 30 different game types. 

Now with Game Constructor, operators have the opportunity to go beyond that and offer a truly personalised poker experience by configuring game types to match their needs. 

We’re expecting the first batch of operators to go live with Game Constructor very soon, with further discussions planned with our commercial team. Clearly, the decision to develop such a tool has made strategic sense for us and responds to a market challenge that our partners are currently facing.

CasinoBeats: In the latest Evenbet White Paper, you noted companies are focusing less on Europe and more on upcoming markets, how do you feel this gamification service can impact the European market specifically?

In mature markets where competition is high and online product offerings are very similar, there is a huge need for differentiation in order to attract and retain players. With so many new forms of entertainment available to people, our industry has to rise to the challenge and ensure we’re taking our experiences to another level. 

This is hugely important for the poker sector, given we’re developing content around one of the oldest forms of entertainment. Game Constructor can help European-facing operators to introduce alternative ways to enjoy poker. 

They can create a unique offer by customising general rooms and tables, as well as put their branding to specific games and tournaments. With the ability to develop an intriguing and exclusive offering, operators can increase engagement without the need for huge bonus offers and instead lean on the effectiveness of creative mechanics to attract players.

CasinoBeats: Suppliers are in a constant battle to deliver unique and intelligent services without overcomplicating their products. How easy is it for operators to utilise this service?

This was a major consideration for us during the development process. We wanted to make the tool as easy as possible for them to customise the games and tournaments we offer. Anything too complicated will simply mean they won’t be able to truly maximise the potential of this innovative product.

Fortunately, the initial feedback we’ve had from clients is that the system is intuitive and

straightforward to utilise. We’ll continue to sharpen the back-end infrastructure to ensure it’s as seamless as possible.

CasinoBeats: With the tool available in EvenBet’s online poker platform, are there any plans to develop this so that it can be used by players as well as operators?

That’s certainly an area we’re exploring. That would give players the freedom to try games that match their own desires, which will ultimately lead to extended engagement sessions. 

We have a forward-thinking culture here at EvenBet Gaming, which means we’re constantly brainstorming ways to modernise the online poker experience and take it to the next generation. 

Product innovation really excites us and hopefully we can introduce more concepts to the marketplace in 2023 and beyond.

The post Evenbet: ‘modernising online poker’ with the launch of Game Constructor appeared first on CasinoBeats.

We spoke to Bar Konson, Head of Sales at NuxGame, Thomas Aigner, Head of Business Development at Ibex.ai and EvenBet’s Chief Executive Officer Dmitry Starostenkov about the changing face of retention, CRM and what makes a promotional campaign a success. 

CasinoBeats: How do you maintain a loyal user base with more competition than ever in the market?

Thomas Aigner: There are many components to developing a loyal user base for example content, affiliate channels, marketing and retention strategy and a gamified user experience among others, are all things that operators need to think of when putting together the right strategy for their brands.  These key parts of building a loyal user base should be tied to whichever market that an operator is targeting.

Assuming a good acquisition strategy is in place, the big differentiator is to offer the player a fully personalized experience. This means showing them content on the site that they are seeking, as well as getting the right messages and offers to the player – using the correct channel and at the perfect time.

There is great potential for growth through maintaining and increasing a loyal user base using personalisation. Operators want to be able to offer something different to their players but get stuck in manual legacy processes that result in producing more of the same but are not fundamentally changing the way retention works or what results to expect.

The only way to really stand out from the crowd is to use better AI algorithms and to really look at each individual player and their behaviour. The industry needs to stop creating more and more segments and target groups as this is not personalization and becomes unscalable very quickly.

“In an increasingly challenging and competitive market, content truly reigns supreme”

Bar Konson, Head of Sales at NuxGame

Bar Konson: The igaming ecosystem continues to develop and grow at an impressive rate, and this has of course provided additional challenges and opportunities. A by-product of this growth has been the importance that operators have placed on their CRM practices in recent years, with them now more driven than ever before to keep players and gain more lifetime value from them to prevent them from using a competitor’s platform.

We aid our clients’ retention of customers by providing an unrivalled sportsbook platform and casino titles from over 40 leading providers, with regular updates to this growing portfolio. In an increasingly challenging and competitive market, content truly reigns supreme, with progressively informed players deciding where to deposit their funds based on the titles or verticals offered by a casino.

The frequent distribution of new and innovative games also encourages the development of a loyal user base through the association of these latest titles and tools with the respective operator.    

Dmitry Starostenkov: There are a number of time-honoured routes to retention available to operators, including jackpots and tournaments.

Jackpots draw players into both online and offline poker rooms and keep them seated longer. The room comes to life when a jackpot is paid and players agonise over near misses. Even though jackpots look like a retention marketing tool, they also serve as a source of acquisition. More winners create more word-of-mouth advertising that helps attract new players. 

Tournaments are a huge help as well. Friendly competition is the whole point of poker, and is one of the best ways to create a community of players and promote retention. But operators need to understand and appreciate the different kinds of tournaments. Freerolls tournaments, for example, are ideal for welcoming new players as they don’t have a buy-in.

This allows them to explore the environment and become comfortable with their surroundings. They can learn who plays in the room and how well they are likely to do there. It is typical for a site to offer about a week of first deposit freerolls.

CasinoBeats: Has this increased competition changed how operators manage their CRM processes? 

DS: It has certainly hammered home how important a solid CRM offering is. Of course, the high-cost factor can lead some operators to question whether they should opt for an advanced CRM system.

“I think that we’re only at the starting point of seeing significant changes”

Thomas Aigner, Head of Business Development at Ibex.ai

Especially with the amount of time and resources that the igaming industry now needs to invest in staying up to date with changing regulation and trends, deploying a new CRM system is often pushed down the pecking order of product upgrades.

But by educating themselves on the best practices of player acquisition and retention, operators will find they have more time to concentrate on what they are good at – delivering exciting entertainment to their customer base.

To this end, EvenBet Gaming has produced a comprehensive guide to marketing poker that is freely available on our website. 

BK: The landscape of CRM has dramatically evolved, with the once standardised practice consisting of general emails promoting the latest campaigns being a thing of the past.

Nowadays, CRM has changed to become a multi-vertical business with operators needing to manage segments, view turnover rate, campaign performances and use the statistics gathered to decide the correct channels to use to contact customers.

These channels now consist of additional email sending, SMS, push notifications, personalized pop-us and call-centre integration, serving as a testament to the evolution that this part of the industry has undertaken. 

We have integrated innovative CRM solutions through our latest partnership with Smartico to provide our clients with the innovative solutions that are required by the changing landscape of CRM within the market. Smartico gamifies the retention process for players, encouraging the return of customers so that partners can focus on enacting their growth strategy, as opposed to retention.

TA: I think that we’re only at the starting point of seeing significant changes to how operators manage their CRM processes thanks to the availability of AI.

So far we’ve seen more of the same and a linear optimisation of processes and features offered by suppliers with partial support of AI but the basic process and how CRM teams are working have not changed.

This increased competition should drive operators to look into each individual player and make completely personalised decisions for them and this will inevitably change how teams are working and how CRM is managed.

iGaming Innovation is to form one key aspect of this year’s SBC Summit Barcelona 2022, which takes place at Fira Barcelona Montjuïc on 20-22 September.

This will see 6,000 delegates enjoy a 12-track conference covering all aspects of the international sports betting and online casino industries, an exhibition with 200 companies showcasing their latest innovations, and a programme of spectacular evening networking events. 

Visit the SBC Summit Barcelona website to book your all access or discounted group pass.

The post The changing landscape of retention: CasinoBeats roundtable appeared first on CasinoBeats.

In the finale of a three part mini-series delving into the current state of the LatAm market, Starostenkov is joined by Andrea Rossi, Betsson Group’s commercial director Latin America and Mario Benito, CCO of R. Franco Digital, looking into the evolution of the online sector.

Starostenkov kicked off the discussion by highlighting his expectations to see the mobile predominance continue. As for game preference, he pinpointed the main drivers as sports betting and lotteries, “but we are sure that online casino and poker will grow.”

He added: “Likely, more global brands will try to set foot in Latin America: operators, vendors and service providers, through both expansion and local partnership deals.”

Rossi added to this by highlighting that, to him, LatAm has always been a market with a strong penetration of land-based and, in the past 18 months, the sector has seen behaviour shifting more to online. “Now that things are returning to normal, I expect retail to get back to where it was before,” he noted.

He continued to explain that the experience between online and retail is different and those who were more used to the retail environment will probably go back to that. 

“The customer experience is different and despite the tremendous advancements in technology, UX and UI, and other innovations, I still think that the retail experience is still not fully replicable online. It’s simply a different experience.”

However, he also added that those customers who experienced online and understood how to engage with online gaming might stay online too.  

“As online operators, we have the ability and the responsibility to provide customers with a safer gaming experience. We have developed a multitude of tools and features to control gaming behaviour. We provide self-exclusion tools, spending budget tools, session controls, and much more so in my opinion, the online space offers a more comprehensive suite of tools for customers to play responsibly.”

He continued by highlighting that, at Betsson Group, the focus is kept towards executing the company’s strategy in LatAm and, in the past months, it has opened a new LatAm Hub in Bogota, Colombia, from where it will cover regional customer service, operations, finance, HR, and legal functions.  

Moreover, the company also acquired Inkabet in Peru, “which is a strategic move from our end to cement our leadership in the market,” he explained, “and we’re not finished – we’re still very much interested in other opportunities in the region. 

“We believe that the right thing to do is to look for local partners. We know that we have robust technology and solid online gaming know-how, but we need local partners with local expertise who can help us understand the local landscape and customer behaviour better and thus allow us to provide a much more localised offering. 

“We are always on the lookout for more opportunities, and we’re thrilled at the very fast pace that the region is growing.”

Benito concluded the discussion by emphasising that “the growth of a market is always a positive sign and much more so when it occurs in the manner of LatAm”.

He explained that, as in any growth market, multiple opportunities will arise that the entire sector will have to know how to take advantage of. “One of the most important factors here is having the knowledge on the ground of what operators and players want.”

The COO concluded: “This will inevitably vary from country to country in a region as large and diverse as LatAm, but one constant remains: players want high-quality products that offer an immersive, enjoyable experience. 

“We are part of the entertainment business and are competing for online attention with the likes of the major streaming services and must continue to give players compelling reasons to play.”

The post LatAm slot sector to see decrease in black and grey market appeared first on CasinoBeats.

In the second of a three part mini-series delving into the current state of the LatAm market, Benito is joined by Dmitry Starostenkov, CEO of Evenbet Gaming and Andrea Rossi, Betsson Group’s commercial director Latin America, taking a closer look into the future of local land-based and retail sectors.

“The pandemic has given many people the opportunity to learn about online gambling – not least the many operators in the region who have moved into the digital world for the first time.” stated Benito, highlighting that, at this stage of the COVID pandemic, governments in many countries are looking at new ways to bring in tax revenues, which “can only be beneficial to those who wish to see an increase in the number of regulated markets.”

He continued: “We are already seeing a widespread increase in online activity and revenues across LatAm and, along with the rest of the industry, await development in Brazil in particular with great interest.

“Along with the US, LatAm is by far one of the most dynamic regions when it comes to online gaming. We’re seeing a lot of things happening in terms of regulation”. 

Providing Argentina as an example, he explained that after regulation in the Province of Buenos Aires, the City is now about to start issuing licences, while other provinces also follow suit. 

“As Betsson, we have already been granted a licence by the Province and we’re waiting for a concession by the City.”

Besides Argentina, Rossi also highlighted the positive developments seen in other markets such as Colombia, which are growing at a very fast pace with an increasing number of international operators coming in. 

“Similarly, we’re seeing growth in Peru – where we have recently added to our brand portfolio with InkaBet – and we’re really excited to launch in Mexico. We are closely following the progress with the regulation of sports betting in Brazil, which can potentially become the biggest regulated market in the world.”

He concluded by highlighting that LatAm has a very strong retail and land-based casino setup after seeing a marked change in the level of digitalisation in the whole region,  primarily spurred by the pandemic. 

“This led to the online market gaining momentum and increasing market share,” the COO explained. “The challenge now is to retain those customers who moved online.” 

Starostenkov emphasised that, to him, the countries where legislative processes started before or during the crisis, including Colombia, Peru and Argentina, will see immense growth in their online sectors. 

He continued to explain that, due to the influx of former retail players, many local operators have received a unique opportunity to grow, diversify their offerings and provide more quality services. 

Concluding his assessment, Starostenkov asserted that markets are becoming structured and are changing in almost every aspect, and that, in response to this, software is becoming more professional. “Payment processing is slowly moving to online and mobile payment systems and KYC procedures are becoming increasingly important.”

The post LatAm market is ‘booming’ and showing ‘no signs of slowing down’ appeared first on CasinoBeats.

In the first of a three part mini-series delving into the current state of the LatAm market, Starostenkov is joined by Mario Benito, CCO of R. Franco Digital and Andrea Rossi, Betsson Group’s commercial director Latin America, to give the lowdown on the opportunities it presents.

“I’m sure that we are just at the beginning of the digital transformation in South and Latin American gaming,” stated Starostenkov, pointing out that only three years ago, most land-based operators were sceptical about going online “now they are adopting a multi-channel approach in droves, using online to become attractive to new audiences.”

Rossi added that he too believes that digital is the way forward. He explained that, as an effect of the pandemic, a number of land-based operators have moved to the digital world, and the way forward for them seems to be omnichannel – ”so whilst they still keep their brick-and-mortar presence, they will also focus on growing their online business”

He continued to explain that this can also open some M&A opportunities as retail operators will be on the lookout for online providers which can support their web-based operations through know-how and experience. 

“I think digital marketing was predominantly used by online operators,” Rossi added. “However, now that land-based casinos started moving to the online space, they’ll slowly but surely kick-off their digital marketing activities too so one shall expect an increase in digital marketing activity.”

Benito emphasised that, to him, it is clear that for these sectors to succeed in the future, “digital marketing has to be a primary action and a central pillar of their strategy”. 

He explained that the way that people all over the world consume media has changed “forever”, providing the example that millions will now never encounter traditional TV advertising again.

“Following the old traditional ways of marketing is a recipe for obsolescence when relatively new channels such as Twitch and YouTube enjoy such widespread popularity.”

He continued to highlight that, for casino suppliers, while a great deal of care should be taken over the selection of appropriate partners, “this is no time for hesitancy”. 

He concluded: “Streamers and influencers on new media channels attract huge audiences and cannot be ignored in favour of campaigns in traditional media.”

The post LatAm slot sector: Digital players “are the future” appeared first on CasinoBeats.

His new responsibilities will see Bogoduhov look to utilise his communication skills, being fluent in English and Spanish, to better understand EvenBet’s customers and offer a “superior product”.

On his appointment, Bogoduhov stated: “It’s an understatement to say I’m delighted to be joining the EvenBet Gaming team. As a company, we have built up significant momentum across the online poker landscape and that shows no sign of slowing down.

“I am hugely excited about the opportunity to work with all of our customers and teams throughout the LatAm region to strengthen our relationships and further showcase the power of our technology and services.”

Bugadohov brings with him a wealth of gaming industry experience having previously served as executive vice president at the sports betting company Olymp Bookmaker, where he was responsible for editing odds, analysing sporting events, customer service, promo production and staff management.

He is also an enthusiastic poker player and has a keen understanding of what players expect from the ideal poker room.

EvenBet Gaming’s CEO, Dmitry Starostenkov, added: “Roman’s talent and experience have been well known to EvenBet Gaming for some time and we’re excited to have him on board. In particular, his expertise in sports betting will help us to better understand players who enjoy that side of the sector and optimise our offering to suit them.

“This industry knowledge and experience will be invaluable to our business as we continue to design and deploy market-leading online poker solutions across LatAm and beyond.”

The post EvenBet Gaming looks to solidify LatAm position with Bogoduhov appointment appeared first on CasinoBeats.

So it comes as no surprise that many within the gaming industry are shifting their attention toward the adoption of cryptocurrencies. For Dmitry Starostenkov, CEO of EvenBet Gaming, we are likely to see more and more companies beginning to use decentralised applications – thereby making online casino entertainment both safer and smarter.

CasinoBeats: First of all, why has there been an increased interest in the adoption of cryptocurrencies for gaming companies?

DS: If we look at this from the long-term perspective, the situation is evolving. Most of the major online casinos and sports betting operators allow their users to pay with cryptocurrencies, and payment processing providers working with the igaming industry are also ready to work with such payment methods. At the moment, using Bitcoin to make a deposit and to bet on your favourite football team is as easy as using a bank card. Even PayPal has adopted crypto, and this means something!

There are several reasons for that. The main one is the increased adoption of cryptocurrencies by users, particularly active and educated players, ready to spend money on online entertainment. If they want to pay with Bitcoin, Etherium, or Dogecoin, why should the operator refuse these payments? 

Second, some operators are also exploring the potential of crypto technology outside of payment processing: using decentralised applications for running games or smart contracts and tokens for operations with players’ funds. Such projects catch the attention of blockchain enthusiasts, not only players and bettors; people involved in the crypto markets are natural when it comes to risk: holding a cryptocurrency now is a sort of gambling too. 

And third, in many gaming jurisdictions outside Europe playing on cryptocurrencies is easier for compliance with AML and KYC policies.

CasinoBeats: How can we encourage more operators to adopt the use of cryptocurrencies?

DS: It’s simply not possible until more players want to use crypto. No operator will invest in the technology unless the target audience demands it. Research conducted in the UK this year shows that although 17 per cent of gamblers are likely to use crypto, 54 per cent believe that digital currencies are not to be trusted. An enormous gap to fill!

CasinoBeats: Are there further potential uses for blockchain technology outside of the typical deposit and withdrawal processes?

DS: Sure, there are. The most obvious one is using decentralised blockchain tools for handling financial operations, with no need to deposit money to the operator or to convert cryptocurrency into a fiat one, as it’s mostly done now. 

For example, in poker, that would mean that the operator doesn’t handle the player’s balance, money is transferred between all the parties participating in the game. It is a completely different approach to operating, but I’m quite sure that with the wider acceptance of blockchain tech by the players it will become increasingly popular.

CasinoBeats: What would you say are the wider benefits for the industry if more operators adopt crypto payment methods?

DS: If that’s simply payments, there’s only one advantage for the operators: they will make life easier for players who want to use this as a payment method. However, this is not to be missed in a modern competitive environment where providing a flawless and engaging user experience is a key to success.

CasinoBeats: And what are the wider implications for security, transparency, and the overall player experience?

DS: If we speak about player security, cryptocurrency payments provide fewer possibilities for fraud, including phishing or stealing bank card data. It is even safer when decentralised applications are used for all the financial transactions within a game. Yet, whenever the human factor is involved, fraud cannot be fully eliminated, and a player still might become its object, but the risks are less significant for blockchain technologies.

In terms of transparency, there are two sides to the coin. On one hand, cryptocurrency users are anonymous, payment data are not linked with a bank account or a physical identity. That causes numerous doubts and questions from authorities to crypto-based gambling projects. So they, more than anything, may become a subject of AML investigation. 

At the same time, modern educated players value additional privacy in financial matters, so the operator has to find an exact balance between users’ convenience and following AML directives. The best solution, as for now, is to enforce strict KYC procedures before allowing users to deposit or cash out, without relying on third-party data in financial transactions.

So, you see, cryptocurrency operators working legally, have to maintain a complicated equilibrium between improving UX and compliance. One day, probably, we will be at the point where all users will have a digital identity that wouldn’t require additional KYC measures, but we’re not there yet.

CasinoBeats: Moving forward, what do you envisage will be the future for the crypto-poker space? Will we see more and more casinos develop their own wallets for crypto and see more operators incorporate various payment methods?

DS: To create its digital coin and to make this idea at least slightly profitable, an online casino should have immense liquidity, to provide enough transactions with this currency. Yet, cryptocurrencies as a payment method have already secured their place in the industry. 

I suppose that in the next two or three years, we will see more and more projects using decentralised applications for various purposes, making online casino entertainment both safer and smarter.

The post EvenBet Gaming: capitalising on the cryptocurrency boom within the poker industry appeared first on CasinoBeats.

Jimenez will work alongside EvenBet’s new and existing partners in Colombia to ‘maintain business connections within the LatAm region’.

Commenting on his new role, Jimenez said: “My family’s business was lottery distribution when I was growing up so I’ve always been close to the industry, but poker is definitely one of my passions. As a result, working with EvenBet will be very exciting.

“Having the certification of the online poker platform for Colombia facilitates decision-making by our clients throughout the Latin American region, where we have solid relationships achieved by years of successful commercial development in the iGaming space.”

Confirming his appointment, EvenBet celebrated Jimenez’ wealth of experience in the igaming sector. He has previously held a number of senior positions at companies such as GAT EXPO, software suppliers Join Games and Spinola Gaming, and operator Apuesta Rápida Perú.

In addition, the new representative for Colombia has also served as the director of both Apuesta Colombia and Sector de Juego Panamá.

The appointment of Jimenez complements EvenBet’s Spanish-speaking support team in Costa Rica, led by Danny Ortiz, which the company believes is a demonstration of ‘strong ambitions to increase its foothold within one of the industry’s fastest growing regions’.

Dmitry Starostenkov, CEO at EvenBet Gaming, added: “We’re thrilled Manuel is joining the EvenBet team. His experience and contacts in Colombia and Latin America are exceptional. We’re sure he’ll be a true asset to both EvenBet and all our clients, as we bid to broaden our global footprint.

“He’s a brilliant strategic thinker and is exactly what we need in the region to take our business to the next level.”

The post EvenBet Gaming selects Manuel Jimenez as new Colombia lead appeared first on CasinoBeats.