Increased access to data is driving a revolution in the iGaming industry and for operators who know how to employ this new wealth of information, it’s become the ultimate competitive edge.
GR8 Tech, a leading iGaming solutions and platform provider, is at the forefront of this revolution, empowering its partners with data-driven insights and strategies that fuel growth – and ensure success.
2024 has been an incredible year for the company, which–thanks to a relentless commitment to improving the player experience through data–has already exceeded its initial projections by an incredible 150 per cent.
Join us as our Head of Content, Curtis Roach, and GR8 Tech’s Chief Business Development Officer, Yevhen Krazhan, delve into the data behind this surge and explore how GR8 Tech’s cutting-edge solutions help operators stay ahead of the curve, build trust with users and reduce player churn.
We began by asking:
GR8 Tech and its partners have experienced impressive growth over the last year or so. How important was it to be data-driven through this period? And what role will data play in GR8 Tech’s future growth objectives?
“We have experienced fast growth across the last year, which we’re really happy about. But this didn’t happen by coincidence or luck. It was the result of our effort and strategic planning.
“We’ve built up a strong B2B expertise rooted in first-hand knowledge of player behaviours, which has allowed us to learn what works, what doesn’t, and how to best support our partners. We are sharing these insights, which are driven by data, with our partners and ensure that our iGaming partners can succeed from the get-go.
“Our partner’s access to data is what differentiates us from other iGaming solution providers.
“As part of our package, we provide partners with an expansive tableau reporting suite and managed services. Our experienced team helps operators use the data and suggest where to boost traffic and increase margins. And AI and machine learning also enhance these data-driven decisions, particularly in areas like risk management and fraud prevention.
“This helps operators launch, and run, a large and complex business ecosystem without needing a big team to support it, which is a massive advantage to new brands entering gambling markets.”
Is the iGaming industry data-driven enough? What should iGaming stakeholders do to improve this, and what role does regulation play?
“In my view, the industry is not data-driven enough. Overall, I think that the iGaming industry is a little bit stuck, and there’s an over-reliance on templated decisions and solutions, with operators often copying and pasting rather than using data analysis and innovating.
“I think operators also tend to lump customers into a single group.
“At GR8 Tech, we advocate for a more precise, data-driven approach that works strategically with different traffic sources and recognises micro-segments, adapting tailored solutions for various customers and creating a whole new playbook of options.
“In response to what operators can do to improve in this area, it’s simple: if your current provider doesn’t offer a high level of automated recommendations, AI and machine learning, it’s time to look for a new one.
“As for the role of regulation, there should be clear regulations to protect younger gamblers and those who are more prone to addiction. Some governments and gambling commissions impose high licensing fees and strict rules but don’t provide the required transparency; operators and providers must be self-informed and understand how to keep their players safe.
“This is vital not only for the players’ safety but also for the industry, as we want to provide fun entertainment that brings users back and does not make them feel exploited.
“In terms of how data can help in this area, for me, it goes back to understanding customers again; if we know how players act, we can adapt limits and rules for different segments at the operator level – every gambling platform should do this, whether they are operating offshore or in a regime with strict regulations.
“Our platform provides operators and suppliers with the tools to do this, which is key, especially for newer brands. Start-ups may not initially see how important this operational area is. But as they acquire a larger customer base, including those who may be prone to over gambling, these insights become more crucial.”
How do you think the impact of new tech, such as AI, will help create new growth opportunities? Will it make it easier for operators to scale?
“I definitely agree that these new technologies create growth opportunities and make scaling easier for operators. Typically, players are pretty overwhelmed by the iGaming market; they see an abundance of different sites and get lost, but overall, they decide to play with platforms they trust.
“In our experience, trust is built through providing a great user experience. AI and ML are great in this respect, as they allow us to create highly personalised, simple and intuitive experiences that meet player preferences and make them feel comfortable and understood, which keeps them coming back.
“Retention levels in the iGaming industry are not high, which is a big challenge. Some users even bounce between 10 to 20 different sites without sticking to one. Our philosophy addresses this by keeping the consumer close and engaged by providing a trustworthy and personalised experience that remembers what you like to play, predicts it with near-flawless accuracy, provides tailored bonuses and discounts and maintains a friendly environment, which helps foster loyalty and increases retention by over 30 percent.”
What do you think will be the key areas to drive growth in the online casino sector going forward? New markets, regulation, technology, player trends et cetera?
“I would like to hope that it’s technology, but I also believe this may not turn out to be entirely true. One thing is for sure: there is definitely going to be future disruption in the iGaming industry, which I feel we haven’t seen for many years now.
“What I don’t know is where it will come from. Will it be virtual reality, augmented reality, Crypto, or maybe Web3? These new technologies have all been talked about but remain on the industry’s periphery and haven’t been used to create a totally new gaming experience or disruptive innovation.
Overall, I think the players will be the deciding factor, not the industry. They will lead. And we will follow.”
Editor’s Note:
Data is the backbone of GR8 Tech’s success, and access to this data, as well as expert insight and analysis, is what, according to Yevhen, differentiates the company’s products and services from those of other iGaming solution providers.
At the heart of it, GR8 Tech’s data-driven strategies enable operators to understand their users better, segment them into more precise groupings and access a whole new playbook of tailored solutions.
This deeper understanding increases industry standards in areas like responsible gambling and drives growth for GR8 Tech’s partners by creating an unparalleled gaming experience that builds loyalty and increases retention.
And this is just the beginning.
Yevhen believes the industry is not data-driven enough; he thinks we’re “a little bit stuck” and currently overreliant on copy-and-paste rather than personalised solutions. But by embracing data and new tools, like those offered by GR8 Tech, we can move past this and towards more innovative solutions.
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