Managing new markets
The Twelve40 CEO examines how white label solutions can help lottery operators to navigate the choppy waters of regulating markets
There is no denying that the gambling industry is currently moving at an almost unprecedented pace. The technological innovations on display at the recent ICE Totally Gaming conference were as numerous as they were impressive, with new approaches to sports betting, virtual reality and player engagement on display. However, the speed with which the industry is moving is by no means limited to all things technological – we are currently witnessing promising signs of regulation in a number of jurisdictions, with many regions putting concerted effort into formulating robust and reliable frameworks for regulated iGaming activity.
In Europe, the Netherlands could potentially be moving towards a comprehensive regulatory framework, while Portugal has made progress in issuing licences under its refreshed regime. Meanwhile, in Latin America, Colombia has recently received the green light for its new structure under the oversight of regulator Coljuegos, and there are promising signs that other nations, including Brazil, could be set to follow suit.
Certainly, newly regulated jurisdictions present a distinct set of challenges to operators when it comes to issues of compliance and player protection. These are challenges that operators must face, and face successfully, if they are to deliver well modelled and responsible gaming experiences.
Avoiding a cut-and-paste approach
On top of that, a one-size-fits-all approach to platform provision is also unlikely to be the first step on the path to success in new territories. The demands of players in different markets vary a great deal, and multi-jurisdictional operators must ensure they are prepared to cater for these varied demands, shunning the temptation to take a cut-and-paste approach to the expansion of their horizons.
By way of example, in a number of Latin American markets there is a fondness for number-based games, as well as titles that are linked to animals and signs of the zodiac. Players in more mature markets across Western Europe favour games with more complex animation, while Asian players prefer content with a focus on higher volatility.
When it comes to the lottery draws that complement this kind of instant win and casino content, there are also regional intricacies in how jackpots are best delivered to the customer. In Jamaica, for example, players respond favourably to having several draws a day, while in other regions, a more effective approach involves a more rounded offering, with a blend of instant-win and entertaining content to support the draw event.
An approach that has the potential to form a core part of any lottery operator’s strategy for entry into new markets across the globe is turning to white label platform providers. White labels are unique in their ability to act as bespoke solutions, tailored to the specific needs of an individual market, while also being configurable to each market’s particular range of regulatory requirements.
With an ability to either integrate games quickly and efficiently into an operator’s existing site and technology stack, or simply provide the framework for the entire site, white label platforms are highly configurable to the requirements of each individual market. When it comes to the lottery experience that different regional markets demand, the variety is nearly endless, and white label platforms are particularly well placed to meet the challenges this presents, with the capability to push draws to players at their preferred frequency alongside their favoured style of instant win and slot titles.
Moreover, as new regulatory trends emerge, the platform and development roadmap must be adaptable to ensure that the products they offer are always compliant and relevant. Harnessing the ability to handle all aspects of the regulatory side of the business, white label platforms remove regulatory distractions, providing operators with the freedom they require to keep marketing and customer experience considerations front of mind.
In an industry where flexibility and speed to market is king, white label platforms provide operators with the autonomy to finesse their offering to the needs of each individual market. Operators would be well advised to note their potential to meet the requirements of audiences in Europe, Africa, Latin America and beyond.