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YouGov, TrueLayer research reveals the 5 trends shaping the future of iGaming payments

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  • iGaming providers that offer instant bank payment capabilities and couple their service with responsible gambling initiatives will drive trust, higher usage and reduce player churn.

TrueLayer, the leading technology company building financial infrastructure that’s open to any business, anywhere in the world, today revealed the results of its latest research, produced in association with YouGov, into the future of iGaming payments.

The research surveyed over 3,000 regular online gamblers across major European markets including the UK, France, Spain, Italy and Germany, examining attitudes and experiences within iGaming, and the impact of payment options on player onboarding, retention and safeguards.

It revealed five significant trends:

  • Players want fast payments: Rapid deposits and payouts consistently topped the list of player priorities, with 8 out of 10 players rating fast payments as important – and they choose their gaming operators accordingly. Our survey shows that, in 5 out of 6 markets surveyed, players consider fast withdrawals to be in their top two priorities. Compare this with “A good sign-up offer for new customers” – the bounty that has occupied marketers for so long – never making it into a country’s top five priorities.

“What’s better than your player not having to wait to deposit their money and play, or withdraw their winnings? That’s the best experience you can give them,” commented Christian Reinheimer, Head of Payments Strategy, LeoVegas.

  • Instant withdrawals improve brand trust: Instant withdrawals increase deposits, while slow or problematic withdrawals are a key source of frustration, complaints, bad reviews – and ultimately churn. Almost two thirds of respondents said they were more likely to trust a gaming service that offered withdrawals and deposits (64%). While more than half (55%) said they were likely to switch to an online gaming service that offered instant withdrawals.

“Players who have access to faster withdrawals are loyal, highly engaged customers who deposit more regularly,” commented Natalie Dunne, Head of Payments, Paddy Power Betfair.

  • Players want to pay by bank transfer: In the UK, Germany and the Nordics around 7 in 10 players use bank transfer to pay into a gaming service. Pan-European gaming brands to be mindful of the fact differing cultural preferences across the continent, as card payments still dominate in France, Italy and Spain.

  • Onboarding needs to be fast and simple: For all online services, the onboarding challenge is simple, the customer has not yet experienced your service, so they are easier to lose. The trend is towards seamless and frictionless signups. In total, around two thirds of our respondents (65%) said they would not tolerate a signup process which lasted more than five minutes.

  • Players choose operators that support responsible gambling: Our research shows that online gaming operators who promote responsible gambling by including tools like spending caps are more popular than those without sophisticated limits. Around two thirds (65%) of players across are likely to use a site that promotes responsible gambling by setting spending caps and limits.

“The research findings clearly show that improved payment options are a key driver for players, whether they are choosing a new gaming provider, allocating deposits or deciding to move on. It delivers a clear message to operators that as players experience seamless digital services in other aspects of their lives, their expectations for iGaming are also changing,” commented George Davis, Product Lead for Payments at TrueLayer.

For operators that means implementing more robust, instant pay-in and payout capabilities, or face increased player churn. True loyalty, the sort that causes customers to genuinely recommend a brand to their friends, comes from one thing only: exceptional customer experience. That includes everything from dispute resolution through to technical reliability and confidence in payments.

Open banking can play a crucial role, delivering new payments approaches to the iGaming market. It also presents an opportunity for operators to differentiate and drive customer customer loyalty through rapid deposits and withdrawals; a trusted white-label payment experience; and tailored responsible gaming protections.

“iGaming providers that offer instant bank payment capabilities and couple their service with responsible gambling initiatives will drive trust, higher usage and higher player stickiness,” added Davis. “Open banking is also a positive move for responsible and sustainable gambling, since banks can control their limit allowance, and any interactions via open banking APIs will enforce those allowances.”

About the Research methodology

The report presents the findings from a survey, conducted by YouGov, into the habits of users of online gambling/betting services. It focused specifically on attitudes to signing up to a service, as well as the ways in which they transfer money in and out of their gaming accounts. We conducted over 3,000 interviews, during October 2020. Data was gathered across six European markets: the UK, Germany, France, Spain, Italy and the Nordics (Sweden, Finland and Norway) with a minimum of 500 interviews in each territory.

For the purposes of this survey, online gaming refers to a breadth of online gambling activities, including sports betting, casino games (from slots to poker), bingo and lotteries. All respondents use online gambling / betting sites at least once every couple of months.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: YouGov, TrueLayer research reveals the 5 trends shaping the future of iGaming payments

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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UK Govt “Likely” to Ban Gambling Firms from Football Shirt Sponsorship

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Increasing concerns over gambling addiction in the UK could see Boris Johnson announce a ban on betting company sponsors appearing on football shirts in the months ahead.

With a review being conducted by the government, The Telegraph report the prime minister could bring about a ban as soon as autumn, despite there being an awareness that such a move would increase pressure on the sport at a time when revenue streams have been severely hit by the Covid-19 pandemic.

Any decision, the report continues, will be informed by evidence of the betting industry’s influence on addiction within the sport, but the suggestion is that a shirt sponsor ban looks “increasingly likely” to happen.

Betting fell during the first lockdown as elite sport was halted. It did not, however, drop to a level many anticipated, with a surge in interest in online slots believed to have been caused by punters who would have normally wagered on football and horse racing.

The Department for Digital, Culture, Media and Sport is heading up the review, with the PM expected to play a key role.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: UK Govt “Likely” to Ban Gambling Firms from Football Shirt Sponsorship

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Team Liquid Extends its Long-term Partnership with Alienware

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Team Liquid Extends its Long-term Partnership with Alienware
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Esports organisation Team Liquid has announced the extension of its 10-year partnership with gaming hardware brand Alienware. This partnership, which completed ten years, is the longest hardware partnership in esports history.

To celebrate this ten-year partnership, both companies look to push three new initiatives. To increase fan engagement, Alienware will officially sponsor Team Liquid’s new programme, Liquid+, a new programme dedicated to rewarding fans who engage with TL online. In order to support the esports teams, new technology and facility upgrades will come later this year. Lastly, the two brands will create community opportunities to help those who are underrepresented in esports.

“Alienware and Team Liquid have been partners for a decade because we dream hard and work even harder. In our next chapter, we’re going bigger than we ever have by introducing programs that contribute to fans and players, starting with our Liquid+ launch, and open up the esports industry to underrepresented voices. Our plans are bold, but so are we, and I can’t wait to see what the future holds for Alienware and Liquid,” Steve Arhancet, co-CEO of Team Liquid, said.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Team Liquid Extends its Long-term Partnership with Alienware

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Interactive Gaming Group Appoints Cristina Niculae as its New CEO

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Interactive Gaming Group Appoints Cristina Niculae as its New CEO
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Interactive Gaming Group (IGG) has appointed Cristina Niculae as its new CEO.

Niculae was previously the chief strategy officer at GiG and, prior to that, was the company’s chief operating officer, overseeing operations in its iGaming Cloud arm.

“I am delighted to accept the role as CEO of Interactive Gaming Group and lead the company into its next phase of growth. I have been impressed by the innovative and experienced founding team and I believe in this motivated and highly skilled group of people driven by a mission to rapidly become the best streaming affiliate in the industry,” Cristina Niculae said.

Niculae sees a bright future ahead for iGaming and understands what is needed to make a company technologically and digitally superior in an industry that continues to become more crowded.

“In the casino space, rapid digitalisation and increased competition between online casinos are creating a strong value proposition for what streaming communities have to offer. Therefore, I feel inspired by the tremendous potential of Interactive Gaming Group to innovate and create long term value in this exciting space,” she said.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Interactive Gaming Group Appoints Cristina Niculae as its New CEO

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