Interviews
OKTO: As cashless becomes king, land-based gaming requires an industry-specific solution
As a provider of digital payments for the entire high street, fintech firm OKTO stands out as having a unique cashless solution that caters to the nuanced needs of the UK’s highly regulated land-based gaming sector. As demand for such solutions accelerates due to the global pandemic, Dimitar Shopov, OKTO Wallet Commercial Owner, explains how crucial it is that operators pick a partner that understands the specifics of their industry, whilst also evolving its technology to keep up to date with global fintech trends.
On a global basis, how busy has OKTO been since the start of the pandemic? Has there been a notable increase in interest and urgency for the installation of cashless systems?
It is a question we are increasingly asking ourselves as a society: “Do we still need cash?” The decline in the use of cash and the concurrent rise in digital and card payments has been charted for years, but the pandemic definitely marks the real beginning of the end of cash in many mature markets like the UK who is a fast adopter, ushering the interest and urgency toward cashless systems.
A combination of contributing factors play a role here; tech advances, measures from authorities, and actions from big retailers across the world that have already adopted the use of digital payments as a safer method to maintain social distance and contain the spread of the COVID-19. Cashless systems have increasingly become the new norm, simply due to the fact that society demands it.
Now, all our partners are asking us how we can help them transition to cashless operations and the driver is always the same; the ability to respond to their users’ demands, leverage user services and experience and reduce cost and risk of cash. And that is what we deliver with our OKTO.WALLET solution.
Is the UK a market you are monitoring in respect to its uptake of cashless payments?
The use of cash has been falling around the world and the pandemic along with the fear of infection from bank notes are accelerating the trend away from cash towards digital payments. The UK ranks higher than all other countries in the EU when it comes to cashless payments for a few years now.
Naturally, not everybody is ready for a digital switchover, but it’s apparent that more and more people turn to digital payment options. Cash’s share of in-store transactions in the UK plummeted from 45 percent in January to 23 percent in July, per a report from Square that analyzed data from hundreds of small- and medium-sized businesses (SMBs) across the UK while the digital will likely retain greater popularity. Therefore, as a fast adopter, the UK was a natural fit for us to invest in this market, creating a powerful solution, designed to address the needs of the Pub & AGC sector with the main mission to be the enhanced user experience.
And here comes the question: Will we ever have a digital alternative that offers the same mix of convenience and freedom as cash? For me the answer is yes. Contactless forms of payment have created a new level of convenience for people around the world, and this has provided a real boost for certain industries, from gaming and betting to hospitality sectors. OKTO.WALLET solution is not only the safe and fast transactional tool that both users and merchants demand but it also offers users the freedom to move and use their funds as they wish instantly.
How do you think Covid-19 has accelerated this increasing disdain for products and services that require cash payment? Does another round of government restrictions in the UK spell further worry for cash-only businesses?
A few years ago, while I was walking through London, I noted some signs dotted around a pub that announced the complete move from cash to customers: “Apologies, but it is the digital age.” Don’t forget that there are benefits in digital payments that make life easier not only for the pubs but for all retail businesses. Think about it, at the end of the night whatever the retail business is, the people there need to count up endless piles of coins, managers need to transfer bags of cash to be lodged at the bank, also there are the additional charges to processing cash transactions versus digital ones and so on. All these can be eliminated with the digital cashless payments.
The trend was there and Covid-19 came and sped up that trend. All the cashless benefits along with the fact that banknotes and coins have been identified as a medium for transmitting the pandemic is clearing the way for another stellar rise in digital payments.
I cannot see the crystal ball and make the prediction for further pandemic-related worries for cash-only businesses, but when you hear announcements from World Health Organization back in March, recommending people to turn to cashless transactions to fight the spread of Covid-19, and rapidly a number of governments and retailers across the world took action, you can realize the evident concern. This shift should not be underestimated, as cashless transactions become the norm and rapidly impact niche industries like hospitality and gaming.
A cash-free future is getting closer, and the new lockdown is further accelerating that shift, but this change won’t be a 100 percent switch over night, there will be a prolonged period cash and digital payment options living side by side. After all, consumer payment choice is one of the most essential ways to maximise a merchants revenue potential, and operators should ensure that they will offer their customers the same level of choice in payment options as other sectors of the leisure industry, offering cashless facilities and we are here to assist operations in this transition.
Despite being a fintech provider to many markets across the world, OKTO clearly sees gaming as a particularly important one. How does this focus on gaming, whilst also offering all the benefits of neo-banks such as Monzo and Revolut, put OKTO in a better position to serve the market than competing cashless solutions in this space?
There are plenty of cashless solutions available and it can be confusing at times, what and why different digital solutions are better suited to certain sectors, and this is especially true in gaming.
But, it’s crucial for any operation to back the right horse. It’s imperative to choose a reliable solutions partner and few providers are focusing on the nuanced needs of gaming operators, especially for land-based, which make us unique in what we do. At OKTO, we want to assist our partners to make informed decisions for both their businesses and customers. Now with the industry to face more challenges than ever gaming operators need a payment service to ease the burden rather than add to it. Industry-specific, mobile-first and open-loop are the keys here.
A payment provider with a mobile payment platform, tailored for the gaming industry that aims to reduce payment friction, enhance the user experience, allowing real-time e-money fund transfer in a simple, secure and fast way is the answer to their quest. When this comes with a universality, then this is a sure bet, as consumers can use, move and collect their funds anywhere, not just for gaming.
Having a dedicated team on gaming, are you confident OKTO is well-equipped to cater to the needs of such a heavily regulated industry, where the expectations for compliance, data protection, and social responsibility are higher than any normal consumer market?
It’s vital to choose the right partner as I previously said; one that utilises field-proven technologies and has the extensive know-how of key integrations across all physical touchpoints of a gaming venue ranging from gaming machines to Self-Service Betting Terminals and Cash Redemption Terminals as well as a strong understanding and proven ability to integrate the wallet with digital touchpoints. We have exactly this 360 approach through our OKTO.WALLET solution, that the operators need to get ahead.
Heavily regulated industries are not unknown to us. We have an extensive understanding of the current climate; and we have developed solutions that ease compliance issues. Utilising the highest level of data encryption, we ensure all users data are fully encrypted while also all fund transfers are audited using market-proven algorithms to detect fraudulent activity including not only Money Laundering but also game manipulation and cash peripheral attacks.
Social responsibility is also at the top of our minds. With tools available through the OKTO app, we cover the social responsibility quota, incorporating a strict age verification process, time-out periods, betting limits, and profit and loss calculator tools that further enhance consumer protection as well as a dedicated section embedded in the app with national problem gambling helplines.
Nik Robinson, CEO at Big Time Gaming, talks about the challenges studios face when it comes to sequel slots such as its just-launched Danger! High Voltage 2.
Congratulations on the launch of Danger! High Voltage 2. Tell us more about the game and what players can expect.
Thanks! We’re absolutely thrilled to launch Danger! High Voltage 2—it’s an electrifying sequel we think fans of the original will love. When we released the first Danger! High Voltage, the response was phenomenal, and players kept asking for even more high-octane action. So, we set out to turn things up to 11 with this release.
The game cranks up the excitement with our Megaways™ engine, giving players up to 117,649 ways to win on each spin. The base game is supercharged with volatility and powered by the MegaDozer, perched right above the reels, ready to drop Scatters, Wilds, Multipliers, and other electrifying surprises into play. Then there are the two fiery free spin bonuses—Fire in the Disco! and Danger Danger!!—designed to keep players on the edge of their seats.
And, of course, it wouldn’t be Danger! High Voltage without the unforgettable soundtrack by Electric Six! Get ready for some serious foot-tapping and headbanging because this game truly brings the heat.
How does the second instalment differ from the original Danger! High Voltage slot you launched back in 2017?
This time around, players are transported to an electrifying thrilling industrial scene, and introduced the groundbreaking mechanic MegaDozerTM mechanic sitting up top, ready to unleash Scatters, Wilds, Multipliers, and surprises.
It’s amazing to see how much slot game design has evolved since we launched the first game in 2017, and Danger! High Voltage 2 is a testament to that evolution. This time, we’ve built it around our Megaways™ engine, which amps up the gameplay with up to 117,649 ways to win on every spin.
We’ve also kept the player choice element for the Free Spins round, but we didn’t just stop there. Fire in the Disco! and Danger Danger!! are brand-new bonus features that make every spin a symphony of excitement. It’s a whole new level of Danger! and a thrilling way for players to experience just how far we’ve come in delivering cutting-edge slots.
What made the iconic song from Electric Six the perfect soundtrack for creating a slot game around?
When we set out to create Danger! High Voltage 2, we knew we had to keep the core essence that players loved—the name and that iconic Electric Six soundtrack—but from there, this game is a totally new beast.
It’s insanely catchy and the perfect soundtrack for spinning the reels. For me, it stirs a strong feeling of nostalgia, taking me back to the early 2000s when the song was riding high in the charts. The more I listened to it, the more I became convinced it would be huge fun to create a slot game around the song. The lyrics lend themselves to bonus features (Fire in the Disco! Danger Danger! Or the original High Voltage & Gates of Hell), and the disco theme works really well as an online slot because it is so visual and colourful. With the original, we were able to capture the essence of the song and bring it to life, which is why Danger! High Voltage became a runaway success. Danger! High Voltage 2 turns the volume up to the max and we fully expect it to rise to the top of the charts, just like the original did.
Just how hard is it to launch a follow-up to a hugely successful slot game? What are the main challenges in doing so?
Launching a follow-up to a hit like Danger! High Voltage is no easy feat—it’s a bit like making the sequel to a blockbuster movie. You need to build on the experience offered by the original game, keeping true to the core theme and gameplay while making sure it offers something new and different. Stick too close to the original and it won’t deliver the excitement players are seeking, move too far away from it and you can end up with a significant disconnect from the original. But we reimagined the visuals and mechanics, integrating our Megaways™ engine as it adds massive win potential with up to 117,649 ways to win and to keep the gameplay engaging. We took risks with a completely new mechanic MegaDozer™ and introduced two brand-new free spin features, Fire in the Disco! and Danger Danger!! which had to be meticulously tested to ensure they deliver the right blend of fun and volatility. It becomes a bit of a balancing act whereby you need to keep core elements the same or similar and then bring in new elements that take the whole package to the next level. It’s easy to see why the second album is often the toughest for musicians.
Big Time Gaming seems to have cracked the code when it comes to sequel slots with the recent launch of Bonanza Falls so you must have been able to overcome these challenges.
We’re fortunate to have such strong original titles like Bonanza and Danger! High Voltage as a foundation for our sequels, but make no mistake—it all starts with the team’s incredible work in crafting these iconic games in the first place. When you have a solid base, it gives us the freedom to innovate boldly. For instance, with sequels like Bonanza Falls and Danger! High Voltage 2, we introduced fresh mechanics like MegaDozer™, Win Exchange™, Bonus Coins, which add entirely new dimensions to gameplay. These features aren’t just updates; they’re true evolutions that deliver exhilarating experiences and keep players coming back.
Our team embraces these challenges head-on, bringing excitement and a touch of fun to every sequel we produce. And while these games build on the legacies of the originals, they’re crafted to stand tall on their own merits. Bonanza Falls and Danger! High Voltage 2 don’t just rely on the reputations of their predecessors—they’re outstanding games in their own right, designed to thrill players new and old alike. It’s about creating something fresh while capturing the magic that made the originals so beloved.
The post The difficult second album appeared first on European Gaming Industry News.
Match Hype has just won two industry competitions. Talk us through your product.
Match Hype brings engagement from social media platforms like TikTok and Instagram into the sportsbook. Our technology automatically turns raw sports data into short videos full of sports and betting insights. We have the capacity to create up to a million videos daily in more than 30 languages. We also provide hosting and streaming of the videos, and we track everything in the video thanks to our own player. The high level of video experience and the scale make us unique in the market, and we believe that this innovation is extremely needed in the industry—and the judges in the competitions probably agree with us.
What technologies are you leveraging to deliver such a cutting-edge tool/product?
We have more than six years’ experience in developing dynamic video solutions for clients like Microsoft, HBO, and SAP, and a decade in high-end video production for similarly well-known clients. Match Hype is the essence of this. We have developed our own robust cloud infrastructure that enables us to work on a huge scale. We can also leverage the integration of third-party solutions that help us make the video content rich and engaging. The AI boom came at the right time to help us make the experience for the viewer even better.
Who is Match Hype aimed at?
We focus mostly on sportsbook operators, where we think we can bring the biggest value. But we also have clients on the affiliate and media side. Our “competition” at the moment are creative professionals who are able to create one video at a time. To cover hundreds or thousands of events daily, you need huge manpower. With Match Hype, you don’t need that—it’s all automated. Anybody who appreciates this level of efficiency will benefit.
The end users are any sports fans who enjoy engaging videos. So basically everybody.
Has this industry been slow to embrace video content and unlock the potential it offers? If so, why?
It’s hard for us to talk about the whole industry, as we haven’t been part of it for that long. But iGaming feels like a conservative industry where only truly meaningful innovations make it. Fingers crossed for Match Hype being one of them. We are confident because of our track record in other industries, and mostly thanks to the results of our dynamic videos that are already used by significant igaming industry players.
What makes video content so effective at customer acquisition? How can Match Hype be used in this regard?
People just love video content. In the last review, TikTok said that the average user spends around 90 minutes a day on their platform. Platforms like Spotify used to be music and podcasts only; now they are full of videos. You just can’t ignore that. Video killed the radio star, and a static sportsbook is next to die.
And what about retention? How can it be used to keep players engaged and coming back for more?
Imagine that a 30-second video gives you the exact insights to help you make a betting decision without spending dozens of minutes on different resources to gather all the information. People don’t want to read anymore. This is probably an even bigger strength of Match Hype than user acquisition.
What can we expect from Match Hype in the coming months?
We will establish Match Hype as an industry standard for dynamic video content. We’ll bring many more sports like tennis, basketball horse racing and. We are preparing real-time video use cases—for example, half-time updates in football—and new distribution channels like integration directly into streams. The potential is huge. Stay tuned.
Any final thoughts?
For the last year, we have talked with literally hundreds of iGaming experts, investors, and executives. Almost every one of them sees fan engagement as a huge topic in the upcoming months and years. And video will definitely play a key part in it.
Video says more than a thousand words. Give it a go—watch one of our 30-second videos and see for yourself.
The post Exclusive Q&A w/ Radek Pšurný, CEO at Match Hype appeared first on European Gaming Industry News.
For those that might not know, can you give us a brief overview of Pick’Em Player Props?
In simple terms, the new Pick’Em Player Props product from WA.Technology is almost like a hybrid between fantasy sports and sports betting. In the same vein as traditional player props products that you see in traditional sports, players can select markets on individual players – we have just taken that model and elevated it.
During the game, players can make between two and six bet selections. For example, will Erling Haaland score more or less than 2.5 shots? The number of bet selections the player makes then determines their multiplier. By allowing bettors to unleash their sporting knowledge and provide engaging games for them to play, we are helping our operator partners to not only engage with a wider player base but also to fuel long-term retention. It really is a one-of-a-kind product and one we’re incredibly excited about. It’s already proving to be a top performer in LatAm.
Why has now been the right time to unveil Pick’Em Player Props?
Over the last few years, we’ve seen significant growth in the number of player proposition products. There are several reasons for that. Sports fans have shown a growing affinity for individual players rather than a team. They follow players on social media and engage with content featuring that player.
This reflects the wider trend we’re seeing: the new generation of fans is more in love with the players than the team itself. A great example of this is both Lionel Messi and Cristiano Ronaldo. Bettors worldwide would wager on either of those players and engage with their content regardless of which team they played for or what club they supported.
The appetite for player-driven betting is increasing dramatically, resulting in a greater demand for products specifically tailored to individual athletes.
With more traditional sportsbooks, however, we’ve found that there isn’t as much depth of product regarding player propositions – aside from goal scorer markets. We wanted to change that – we wanted to deliver a fun, engaging product that helps build a sense of community among players.
Since Pick’Em Player Props is also a hybrid of fantasy and sports, it can act as an attractive tool to facilitate new market entries, as fantasy sports are not regulated like sportsbooks or iGaming. Take the US for example. In most states, operators do not need a licence to offer a fantasy sports product. This is the case for many markets around the world, too. I believe this will be an attractive proposition for operators looking to expand their international footprint, and as a truly global provider, we’re here to make that happen.
In your view, what differentiates WA.Technology’s Pick’Em Player Props from other player props products on the market?
Currently, we are the only B2B provider to offer a player propositions product that combines sports and fantasy. A handful of companies in the US offer something similar, but they are all B2C companies – we are bringing something totally unique to the B2B space.
Fantasy Sports have always been popular in the US. But over the last 18 months, we’ve seen a meteoric rise in the demand for player proposition markets; we wanted to develop a product that caters to that growth in demand and delivers something unique for our partners.
For other player props products on the market, something that is worth noting is that the design and UX are doing little to engage Millennial/Gen Z bettors. This audience demands a streamlined UX that is easy to use. Our Pick’Em version has been specifically designed with this demographic in mind, although we have been careful not to disenfranchise other age groups. We have kept the design sleek, streamlined and easy to use to deliver that. It’s extremely well-designed compared to what you might see in a more traditional sportsbook.
The game is straightforward to understand because we have fixed multipliers. This decision differentiates us from more traditional products, where the multipliers vary depending on how many bets you place. It also makes the product much more accessible for players who might otherwise not be familiar with fantasy or player props.
Another major defining factor is that we have ensured players can add multiple bets from different markets together. On most sports betting sites out there, you cannot combine player props markets. You couldn’t, for example, have a bet slip combining Erling Haaland’s Over/Under Shots and Kevin De Bruyne’s Shots on Target. We know this is frustrating for many bettors. We wanted to eliminate that barrier and elevate sports fans’ experience.
How does the level of data granularity influence the design and effectiveness of player proposition betting products, particularly in terms of player engagement and personalised betting options?
We are very fortunate that the data feed we use for our player props markets is the best. We have a wide range of insights and data analytics available, giving us an edge over other companies within the space – this is a serious differentiator.
The enhanced data range means we can deliver many more bespoke, personalised betting options to players while also getting more granular with the markets we can offer.
Our Managed Services Team, which oversees all things trading, also closely monitors the markets that are most popular with players. For example, if we see an influx in bets on ‘shots on target’, we know how to create more promotions around this particular market. We can tailor the CMS to engage better with players and create a more personalised experience.
Players can also ‘favourite’ particular players and clubs. Any market featuring that player will automatically appear when the Pick’Em Player Props application loads up.
Are there any markets where you believe Pick’Em Player Props will prove to be particularly popular? If so, why?
In all honesty, I can’t think of a market where this won’t be popular! Regions such as LatAm present an enormous opportunity for the growth of player proposition markets. I believe we can really plug a gap in the products currently offered to bettors.
Across the continent, we’ve seen players show a real passion for player-focused markets, and we’re here to capitalise on that. In Brazil, for example, if we were to create markets on Neymar, I’d anticipate this would gain much traction!
The real selling point for Pick’Em Player Props here is that we offer an extensive range of sports and markets that cater to a broad audience – but within that, we can personalise sports and bet selections not to overwhelm the player. I’d expect that markets on football will perform exceptionally well across Africa and LatAm, while countries such as South Africa may have a stronger preference for Rugby or Cricket.
Ultimately, it’s about understanding the unique preferences of players within each jurisdiction our partners operate in and tailoring the product accordingly. With teams based in various markets worldwide, we can get to grips with the local knowledge and fully understand what resonates with bettors.
In your view, what are some of the factors behind the growth of player props products in the last 12 months?
Most definitely shows how sports media companies are incorporating more player-specific content into their roster. This already has a huge impact, and I can’t see it changing anytime soon.
Whether it’s interviews with specific players, post-match analytics on performance or even the inherent growth of social media, the balance is undoubtedly tipping more towards the player rather than the team.
Personalisation will also have a considerable knock-on effect on the growth of player propositions. Bettors want more bespoke offers, specific bet suggestions and more instant content tailored to their unique playing habits. With a product like Pick’Em Player Props, you can personalise that betting experience to your heart’s content.
It also becomes much easier for sportsbooks to align with a specific user’s interests when we deliver unmatched data analytics and levels of personalisation that are available via WA.Technology’s product suite.
In short, Pick’Em Player Props gives operators the tools they need to create wide-ranging engagement opportunities without sticking to the rigid sporting calendar, where sometimes you might have to wait several days between a game. By incorporating fantasy sports, we can deliver round-the-clock content much faster, therefore meeting the demands of players. If you want to find out more – make sure to stop by Stand 1095 at SiGMA!
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