Matthew D’Emanuele, CEO at Yolo Entertainment
Telegram will change how people play
The rise of the Telegram casino, a trend we saw picking up pace in 2023, is only going to accelerate this year. In terms of the core product, a TG casino isn’t massively different to other mobile casinos. They open in Telegram’s own browser, so can offer a full experience.
However, they do differ in two significant ways. Firstly, the UX can be far more seamless. Telegram’s own wallet removes a lot of the barriers and refines the journey for users, especially now players can choose to play with the native TON token. Secondly, there’s no Google-style search on Telegram, so discovery becomes very much about networks and sharing.
It’s pertinent to mention however that this is not just limited to Telegram, it could be Line, Kik, WhatsApp, Discord or any other widely used platform. The objective is to simply create seamless accessibility to a casino game, given many players are time poor and value instant gratification.
The casino doesn’t just become a destination (on a URL), it’s always one seamless click away, with a huge focus on how we can improve authentication (login) and money movements (open payment channels using crypto) for money to flow back and forth, which aligns with our thesis that withdrawals (winnings) should be automatic for the player always – as that is truly putting the customer at the centre of the universe.
I believe we have a tremendous opportunity to improve the way our players interact with our offering. At the same time, ideas, content and brands can move so quickly through the network that it’s a really exciting opportunity, and one we’re already relishing with the launch of whale.io which is already proving to be very successful
After a challenging year, crypto is stronger than ever
I think by this stage we’ve all learned that making bold predictions about what happens next in the world of crypto can be foolish. I wouldn’t however be surprised if bitcoin hits $100,000 in 2024, but I would question anyone who claims to have ‘proof’ that they know.
We can, however, look at the broader outlook for cryptocurrency in 2024, and I’m very optimistic. 2023 was somewhat of an annus horribilis for crypto. We spent much of it examining the fallout from FTX’s collapse, SBF’s very public downfall and then the major US sanctions levied on Binance for AML failings.
But despite the negative attention, the overall mood is positive as we start the new year. A bitcoin ETF has now been approved and this can be a major step into the financial mainstream. Bitcoin is doing exactly what it was designed to do: providing a resilient, decentralised alternative to fiat currencies that can survive just about anything. That’s why crypto will always remain central to our DNA at Yolo Group.
Innovation is often found where you least expect it
Sports betting innovation in 2024 will likely come from incremental gains that improve the player experience, not some grand new product development that completely changes the face of the industry.
For us, it is about finding ways to simplify and improve elements and the key touch points in the user journey, as well as focusing on creating a more intuitive user experience.
Strong focus on player engagement, giving our players the opportunity to contribute directly to the way our product develops is an initiative we are keen to drive further as we demonstrate our players really are at the centre of our thinking.
Another area that I feel will continue to progress is a significant shift towards community-based and interactive experiences. Online casino games will incorporate more multiplayer elements. This includes the integration of social gaming elements like chat functionalities, group challenges, interactive leaderboards, collaborative gameplay and more intuitive ways of sharing bets which will stimulate a sense of community and player engagement. All with the objective of allowing friends to enjoy their favourite games together.
The brands that differentiate in 2024 will be the ones who have greater control over their tech, and wider ecosystem. Giving them the ability to innovate and execute far more swiftly than their competitors.
Sylvain Boniver, COO at GAMING1
More duty of care in Europe for licensed operators
On 14 November 2023 in Brussels, six private gambling operators that make up the Belgian Association of Gaming Operators proudly signed a Duty of Care Agreement. This agreement provides a clear framework in which each operator undertakes to develop a prevention policy that will enable potentially problematic gambling behavior to be identified and prevented more quickly, based on scientific criteria established by experts in addiction and psychology.
As our consumption patterns evolve, digitalisation is revolutionising our habits. It has also facilitated access to gambling. Today, 70% of Belgian gamblers play online.
The Duty of Care Agreement is a prevention policy based on four pillars:
- A detection system based on algorithms, AI and scientific criteria that identifies potentially risky behavior. The criteria used include frequency of play, duration of play, intensity, deposits and other relevant criteria.
- Actions and/or recommendations aimed at protecting players, such as the communication of information on potential risks, the proposal of voluntary deposit limits, the introduction of a ‘reality check’, self-exclusion and general exclusion by the regulatory authorities.
- Educating and training staff to identify potential problems and take appropriate action.
- Sharing the prevention policy implemented with the Gambling Commission.
With the social responsibility to keep gambling as entertainment, I predict that duty of care agreements will be implemented in many countries by 2024.
More battles between regulated countries and unlicensed operators
The fight against illegal operators is a real challenge for player’s protection and responsible gaming ambitions.
In Belgium, the Gambling Commission also compiles and maintains a blacklist of a small number of illegal sites targeting Belgian players. Illegal sites operate on Belgian territory without a licence and therefore without any control or action defined by the Belgian legal framework, thanks to the fact that digital has no borders.
The Belgian Gambling Commission has currently listed 464 illegal sites. Most of these sites are accessible and are not blocked. When they are, the player simply needs a VPN to bypass the block and play online on an illegal site. In fact, a VPN enables the player to connect freely and play without any restrictions or safeguards.
Most recently, it became apparent that the advertising ban introduced by Italy was leading to unprecedented growth in the illegal market. Unfortunately, this phenomenon is now also being repeated in Belgium and France. This is amplified by the extent to which digital technology is part of our daily lives.
More video games for money
Gambling has always been a sociocultural backbone. Everyone plays. We socialise by playing. We learn by playing. The arrival of digital technology has amplified this phenomenon, allowing gambling to know no boundaries. It adapts to the way we live, travel, consume and the way we connect with others.
Gambling is no exception. With the introduction of online casinos and mobile gaming, the sector has been revolutionised by technology, which has made gambling and casino games more accessible.
Digital has brought with it new gambling practices. Indeed, technological innovation has changed online casinos considerably. With the rapid and constant evolution of technology, everything is impacted. 3D, virtual reality, the social component where players are connected to each other through the game that brings them together. We are now familiar with pay-to-play video games such as Fortnite, Minecraft and so on. This could be extended to casino video games.
In many ways, video games and the online gambling industry are ideal partners. Indeed, they share many similarities. It would come as no surprise if online casinos, slot games and other game developers have already begun to take inspiration from their contemporaries in the world of video games.