Uncovering iGaming Market: Business Insights from SBC Summit 2023 in Barcelona

Technological innovation has become the lifeblood of success in igaming. As a gaming operator or software provider, you have probably realized that keeping abreast of the latest trends and breakthroughs is no longer an option, but rather a necessity. But it can be difficult, as new developments emerge almost daily.

Industry conferences offer an excellent remedy to simplify the navigation of this ever-evolving maze. Among the prominent players in the field, such as Sigma, ICE, EGR, G2A and SBC, we will focus on the latter today.

Every year, the SBC Summit has proven its value as a fountain of knowledge, guiding industry leaders through the ever-changing tides of gaming news. 2023 was no exception.

So here we present some insights from the event, to take inspiration from the innovations discussed there, or to remind you of key signs if you are attending.

Read on to find out how revolutionary technologies such as Web3, NFTS, AI and the Metaverse are currently reshaping igaming businesses, and the magical impact that personalization and gamification can bring to your platform.

SBC Summit – The Doors to iGaming Market Insights

The SBC Summit 2023, held at the bustling Fira de Barcelona Montjuïc, marked a groundbreaking milestone for the igaming community. The excitement of thousands of attendees wafted through the venue, and I immediately sensed that this was a gathering of people deeply involved in the future of igaming.

Through diverse and insightful panels of industry experts, from sports betting to casinos, I was fascinated by the evolving gaming industry story.

But it was through networking that I was able to dive into the current igaming dynamism. Engaged in lively conversations with igaming visionaries from around the world, I had the opportunity to discover first-hand the intricate threads that weave the future of this industry.

Through these interactions, I discovered the pulse of innovation, strategy and vision that will define the igaming landscape in the seasons to come. Here we look at the trends that will leave their mark on the online gaming sector.

The Power of Personalization in the iGaming Industry

In 2021, the global gambling and betting sector was worth $61. 5 billion. According to forecasts, it is expected to grow to $114. 4 billion in 2028. An increase of more than 86%. This means that the number of igaming platforms will increase and competition will be fiercer than ever.

How can you stand out in a sea of ​​operators offering more or less similar content? Because there are many different solutions to differentiate your brand and attract thousands of players, for example "free money" or bonus welcomes.

But in an industry as saturated as igaming, focusing on excellence and price discounts is a very unsustainable approach in the long term. The real difference should be pursued in other areas, such as a uniquely crafted interface and a well-designed user experience. And this is where personalization comes in.

This year's SBC Summit placed a lot of emphasis on this specialized aspect of gaming platforms, highlighting a gap that can be easily addressed.

Exceptional Look & Feel – A Custom Frontend at its Finest

When thinking of personalization in the iGaming space, the first thing that comes to mind might be the user interface. Indeed, leveraging the potential of a custom UI that aligns with a company’s branding is a valid part of a personalization strategy.

A custom front-end gives your business a strategic advantage to stand out and succeed in the market. But it goes beyond just highlighting your brand with visual appeal. Operators can create gaming experiences that resonate with their audience and lead to higher retention rates.

For operators looking to establish a strong presence in the iGaming market, a custom front-end is an essential asset. By aligning it precisely with a company’s requirements and goals, it offers flexibility, adaptability and discretion that is difficult to achieve with off-the-shelf solutions.

But everyone at SBC stressed the importance of personalizing the interface not only from the operator’s perspective, but also from the player’s.

At the end of the day, an intelligently designed user interface improves the usability of the platform, making it easier for players to navigate, discover their favorite games and access important features. The result is happier players and turning them into loyal customers.

Many Igaming brands have already invested in highly customized solutions that form products according to specific user requirements and preferences. If you want to participate, CRUSTLAB is ready to help. We have provided some dedicated casinos and sportsbooks for famous brands and have helped to increase their profits. If you have any questions, please feel free to contact us.

AI-based Recommendations in Online Casinos and Sportsbooks

Customizing the UI and UX according to a specific user's preference is closely related to the personal recommendation concept. As mentioned above, this customization greatly affects the ease of use of the platform, resulting in an overall level of user satisfaction.

Many companies hope that they ignore the past behavior of the user or to choose the content they like manually. This approach may not be ideal, especially if you have a rich user activity path that can significantly improve usability and can quickly use it for collection and analysis. How can I get such data effectively?

Given the AI ​​and ML's appearance AI and the rapid progress of machine learning, the future of personalization is supported by algorith m-led recommendations.

At the core of A I-based platforms for sports betting and casino games, there is an advanced machine learning model. These models handle data and provide recommendations and predictions according to users. In the following, we will introduce the core model that supports these platforms:

This model analyzes the preferences and behaviors of users who have something in common with certain users. And we propose sporting events and beds according to these similar users' preferences and choices. Cooperative filtering uses a variety of platfor m-based collective wisdom to increase recommendation and data accuracy.

This model will provide a record dating in line with the unique interests of each user, taking into account various characteristics, such as team statistics, players' performance, and past data. This allows players to receive personalized recommendations according to certain preferences.

These models use the advantages of both coordinated filtering and conten t-based filtering. By combining the user's behavior and the characteristics of the event, we provide users with more appropriate and accurate recommendations.

These use past data and predictive analysis to predict the result of the match, identify advantageous betting opportunities, giving users with dat a-led insight.

The Steps to Success in Player Retentation: Delasport's CEO Oren Cohen Shwartz is an important indicator of the success of the platform, utilizing a customer experience in a panel entitled "To be an Igaming operator". In order to increase the retention rate of players, we emphasized the important roles played by A I-based recommendations.

Other participants emphasized that personalization in Igaming Software Development matched the players at the center of attention and matched the general and effective customer s-centered approach.

Gamification – Leveling Up the Online Gambling Experience

There is no doubt that personalization is the key to gaining and maintaining players in the fierce Igaming market, but another trend that controls the discussion at SBC Summit 2023 is gaming. Gamification has evolved from fashion to Game changer in the outlook for online games.

There is a simple but deep reason behind this trend. Incorporating gamifation elements will help you use the natural trends of players seeking competition, achievement, and fun to provide more attractive and immersive experiences.

Gamification has several purposes in the Igaming industry. Here are some of the most important things.

In this industry, where players are intense, gamification is an effective means to make players a repeater. Challenge, reward, and leader boards create a sense of accomplishment and competitiveness, and is motivated by players' continuous participation and lon g-term revisit. At the end of the day, no one wants to lose his progress or prize money?

The gam e-converted feature gives even more excitement to the game experience. Regardless of whether it is an unlock of achievements or participating in a tournament, players will be more enjoyable, leading to extension of login period and improving royalties.

Players are more likely to become a royal customer by feeling the connection with your platform as well as the game itself. Gamification builds this connection by fostering a sense of accomplishment and a sense of accomplishment.

1. Data collection and personalization

Gamification allows you to collect valuable data on players' preferences and actions. By utilizing this data, you can further personalize the game play experience and provide personalized challenges and rewards that resonate with individual players.

Gam e-converted promotions and tournaments are very common, spreading on social media and attracting new players to your platform. It is also a cros s-promotion opportunity with partners and sponsors.

The SBC 2023 Summit changed the player to introduce how the gamification was revolutionized in the outlook for online games. The industry has evolved rapidly from conventional betting paradigms to experiences reflecting the world of immersed games. ESPORTS is at the forefront. For example, SIS. They not only provide previews for game streaming, but also enables tournaments for players vs. VS players.

Cryptographic casinos such as BETFURY, ROLLBIT, and Stake have further improved by incorporating gamblin g-based features such as daily riords, head to head betting, head to head betting and battle. The field of betting gambling is also renewed. Companies like ParleyBay have introduced a Tinde r-style betting model using the game app mechanism. Some operators with custom fron t-end solutions have already adopted these game elements, but have not yet caught up as a whole platform. However, there is no doubt that this is a trend that will explode in the near future.

The important thing here is that gemification is not just a trend. It is a strategic approach to attract and maintain players in the constant evolution industry. With the intensification of competition in the Igaming market, incorporating the gamification function into your platform may be a differentiation factor from competitors.

Streaming – The Gamification Frontier in Sports Betting

SBC Summit 2023 also mentioned that it would open up a new era of gemification in the betting industry by integrating streaming directly into the betting app.

One of the most distinctive statistics shared in a panel discussion was that the sports streaming market would soar on a surprising scale of $ 223 billion by 2028. This steep length indicates that the way of involving fans involved in sports is evolving.

In the discussion, the user acknowledged the paradigm shift in how to consume sports events, leaving traditional broadcast TV for more convenient live streaming. Therefore, it is essential to stream a sporting event in the betting app.

The fact that the fusion of betting and watching is truly worth noting is that the streaming content is seamlessly in the betting application, the user watches the live match, monitors the odds, the bet, and uses the gemfation function. It is to do it.

This combo not only makes the user experience simplified, but also adds interaction and excitement layers to online sports betting.

If your sports book is not yet equipped with this feature, it's time to consider it seriously. Market demand for this function is steadily increasing year by year, and it is essential for business to respond immediately.

Technology Shaping the Future of Global Online Gambling

Exciting technology, from the web3 and AI to the Metavery Center Stage, has evolved at a fierce speed. But how are these innovations reflected in the world of Casino Software and Sports Books? And what happens to the fusion of metaverse and traditional gaming? SBC Summit 2023 has provided an opportunity to glimpse the future of the gaming sector from the front of these questions.

The Impact of Web3 on Gaming

Often the web3, which is called the "next generation" of the Internet, is trying to leave eternal footprints in the Igaming field. What is the web3 is explained in detail in the next article.

The core is to adopt blockchain technology and dispersion to promote transparency, safety and reliability.

With a strong blockchain foundation, the Web3 revolutionizes the casino and the sports betting market, providing a comparable security for players. Classic games such as poker and bingo are more immersive and exciting, but also use the power of the web3 technology to create more comprehensive game experiences.

Panel discussions have been held not only for blockchain but also for various aspects of the Web3, such as NFTS and cryptocurrency, revealing that it has a major impact on the world's online game markets. Let's explore these aspects in detail.

Blockchain-Powered Platforms

The blockchain is fundamentally changing the way of running games and sports betting platforms. Transparent and no n-falsified blockchain guarantees fair play and reliability. Players can play fairly because all transactions, bets, and game results are recorded without being tampered with.

Many of the famous brands in the Igaming market have already taken the power of blockchain and have innovative opportunities to both players and gamblers. As an example, Funfair uses a blockchain to create a casino based on this technology and mathematically predicts the fairness of the game. On the other hand, other platforms also use blockchain for hig h-speed, safe transactions and asset management.

The possibility of blockchain technology is infinite, especially in cryptocurrency and NFT areas. Speaking of which

Cryptocurrency Integration

In case you don’t know, cryptocurrencies, a key component of Web3, are gaining huge popularity in the online gaming market. Players and gamblers are increasingly turning to cryptocurrencies like Bitcoin and Ethereum for their betting activities.

The tight integration of blockchain technology and cryptocurrencies empowers online casinos to facilitate fast and secure transactions in various crypto assets. Gone are the days of constant long wait times. Now players can enjoy seamless and robust transactions.

This is definitely a factor worth considering for all casino operators.

Digital Assets in the form of NFTs

Non-Spicy Tokens (NFTS), an integral component of Web3, are also making their presence felt in casino and sports developments. These unique and tradable digital assets add an exciting layer to gaming and gambling. Whether it’s rare skins, collectible cards, and unique bingo cards in games, or exclusive sports memorabilia and virtual team ownership in sports betting, NFTS provide players and gamblers with valuable in-game assets. Combined with gamification elements such as leaderboards and challenges, NFTS will take player and bettor engagement to new heights.

In an interview with Casino Beats a month before the Barcelona conference, Brian Christner, Chief Gaming Officer at Grand Casino Baden, shared his insights on the adoption of Web3 technology in online casinos. At the time, he said:

"We're seeing some really exciting use cases unfolding in the Web3 space and on the web. For example, Red Tiger was one of the first to incorporate NFTS into games, launching the NFT Megaways slot with cryptopunks as the game symbol. Now, NFTS is the player's profile and NFT collectibles are part of the gamification element.

I had a chance to speak to him briefly during the event, so we dug a bit deeper into the topic.

According to Brian, Web3 isn't just a bastion for data or payment security. It's a bridge that seamlessly connects online and retail. Imagine playing online, earning crypto tokens, and then spending them in a brick-and-mortar store, or vice versa. This is possible in traditional ways, but Web3 and NFTS provide an unquestionable layer of authenticity, ensuring that a given token is uniquely associated with an individual user.

Another innovative application is the area of ​​slot game development. By utilizing the NF T-based asset sharing system, you can fundamentally change the cost and possibility of game production. Have you ever imagined using a specific symbol in a slot game? With this model, you can get a 1 % revenue distribution as a return to investment. The possibility is virtually endless. This technology may still be the dawn, but please be assured that you are on the road to maturity rapidly.

Embracing the Metaverse – Augmented Reality, Virtual Reality, and iGaming

In addition to the technologies mentioned above, the horizon of the Igaming market is likely to change as it enters the metabers area. At the forefront of this groundbreaking evolution is the expansion reality (AR) and virtual reality (VR), both of which are innovative ways to participate in this expanded digital area and increase profits. Provided.

Augmented and Virtual Realities

The introduction of AR and VR into the Igaming Business ambiguously obscure the border between reality and virtual world. AR enhances the real environment of players by integrating virtual casino games into players. VR, on the other hand, immerses players in a completely digital landscape, reproduces the luxury of physical casinos and creates a completely new game environment. These technologies provide unparalleled realism and excitement as a whole.

In the metaharthrus, the I I-game experience is connected to each other, providing players a seamless transition between AR and VR. Imagine that you can easily shift from Virtual Casino Suite to an extended reality game with live dealers.

Casino, sports betting platforms, and online games coexist in this virtual ecosystem. Such interactions not only enhance the player's royalties, but also introduce innovative revenue creation strategies. From virtual real estate to NF T-based assets and social interactions, metaverses release the world of Igaming Business.

Class Labs fully recognize the effects of metahabas and other innovation in games and sports applications. In fact, we recently started the development of a chess platform for the purpose of incorporating these stat e-end technology. Checkmates boldly leap in the world of ESPORTS with web3, AI, and metahabers, all of which are in the context of classic chess games. This is a completely innovative concept and has never been seen before. If you are worried about the details of this exciting project, please look forward to the next article.

Key Takeaways from the Summit

This year's SBC Conference clearly states that the future of online and mobile games is an exciting and dynamic outlook with no borders in innovation. The fusion of WEB3 technology, A I-based extensions, metabers, personalization and games provides many options to reconstruct players experience and ensure that games will continue to be a comprehensive pursuit in exciting. I am doing it.

At the end of this conference survey, it is important to narrow down the important themes that have emerged and provide strategic advice to iGaming companies aiming for adaptation.

1. Accept technical development

A clear message in SBC Summit 2023 is that technology is still a lifeline of success in Igaming. Web3, blockchain, AI, and metaverse reconstruct, gain trust, and solve new profits creation strategies.

1. Personalization and engagement are the most important

Competition in the Igaming Market is intensifying, and differentiation is essential for operators. Customized interfaces and A I-based recommendations provide strategic advantage.

Gamification has appeared as a powerful tool to enhance the royalty and retention of users. Introducing gamification elements such as leader boards, incentives, and challenges can turn player's journey into an exciting adventure.

1. NFT is a pioneer of digital ownership on the web

The rise of NFT in the distributed landscape of the Web3 is to introduce a revolutionary concept of digital ownership. By exploring an innovative method of integrating NFT into a game ecosystem, it fosters dee p-owned consciousness and exclusiveness between players in distributed Web3 paradigms, and adds specific value.

Metaverse is an exciting frontier for the Igaming Market. AR and VR technology provide immersive and interconnected experiences and redefine the interaction with players. As MetaAlse continues to evolve, Igaming companies should pay attention to their possibilities and explore how to participate in this digital revolution.

Up to You

As the Igaming Market continues to grow and the expected numbers reach great numbers, the way to success is to use the power of these trends. Whether you are a veteran in the industry or a beginner, adopting personalization and gamification with the help of cuttin g-edge technology can be a combination of victory in the world of Igaming. The SBC 2023 Summit held in Barcelona showed us the way.