Home Blockchain LionGaming CEO: “Our blockchain technology can be toggled on/off for each bettor”

LionGaming CEO: “Our blockchain technology can be toggled on/off for each bettor”

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Blockchain expertise has develop into a buzzword that’s thrown round steadily, not solely within the context of cryptocurrency however in conversations about digital transactions on the whole. Most not too long ago, DraftKings introduced its NFT marketplace which breathed new life into the dialogue relating to what function blockchain will play in fantasy sports activities and sports activities betting sooner or later.

One firm that has included blockchain technlogy in its sports activities betting and on line casino options is Lion Gaming, an organization based mostly in Canada that caters for U.S. sportsbook and on line casino operators. We requested CEO Duncan McIntyre a number of questions on their expertise to find out about how Lion Gaming helps remedy probably the most urgent points the trade faces, and the way they use blockchain to enhance the betting expertise and safety for bettors right here within the U.S. and abroad.

What’s Lion Gaming and do you could have partnerships with sports activities betting corporations right here within the U.S.?

McIntyre. Lion Gaming Group develops iGaming expertise designed to remodel on-line sportsbooks and casinos. We’re the one supplier that gives blockchain-based options which may be toggled on or off relying on participant choice.

Our mobile-first options are constructed to cater to a world betting viewers within the U.S. and past. Operators outfitted with our expertise can settle for wagers in conventional fiat foreign money and just about any cryptocurrency or digital asset. As increasingly more states start to control on-line iGaming, we’re actively exploring strategic partnerships to determine ourselves within the U.S. market.

What are the largest challenges that operators face when constructing dependable live-betting merchandise?

McIntyre. There are a number of challenges that operators face when constructing dependable live-betting merchandise. To begin, one factor that operators want to know is that it’s unattainable to be nice at all the things. There’s solely a lot you’ll be able to excel at. Whether or not it’s buyer acquisition and retention, operations, or tech improvement, operators have to be aware of the place their human and monetary sources are going.

That being stated, creating betting expertise (not to mention live-betting expertise) requires effort, time, and compliance experience. So I’d say {that a} main problem operators face is the labor, capital, and time required to develop an distinctive product. And as I discussed, one other problem is that when your sources are tied up in tech improvement and upkeep, there may be much less that may be put towards what operators really want to succeed – primarily buyer acquisition and retention. We frequently see operators outsource their expertise to suppliers who supply dependable live-betting merchandise and distinctive UX/UI designs; this fashion operators can absolutely dedicate their efforts to advertising and servicing their prospects.

In your opinion, what makes live-betting product? Information? UX? One thing else?

McIntyre. The brief reply is each. Live-betting products have to be built-in with dependable odds-feed and information suppliers that in flip create nice consumer experiences. It’s very irritating for a bettor to see motion they like solely to be declined by the operator once they attempt to place the wager. UX design is clearly key, together with pace and the power for gamers to get their cash down. 

As well as, integrating reside streaming feeds for sports activities or esports might help facilitate reside bets and maintain bettors engaged on an operator’s platform.

How do you exchange new bettors utilizing live-betting expertise and affords? What are the facets of the betting expertise that make novice bettors tick?

McIntyre. I feel most new bettors really aren’t attracted by the potential of live betting as a lot as they’re attracted by welcome affords, bonuses, and betting on their favourite sports activities on the whole. They’re sometimes uncovered to reside betting as soon as they’ve matured a bit as bettors, so I wouldn’t say that reside betting is far of an element for consumer acquisition, though it does have a job in consumer engagement and retention.

When it comes to what makes novice bettors tick, I feel it’s the joy that comes together with having “pores and skin within the sport” on an occasion. What we’re actually enthusiastic about right here at Lion Gaming is that our product incorporates a social/neighborhood side to it. Bettors can see the place they rank amongst others by way of their betting prowess.

For instance, a bettor can see the place they rank throughout all bettors who positioned wagers on Monday Night Football, or they will see the place they rank throughout all Los Angeles Lakers bettors for the evening, month, or all season. They’ll get as granular or as broad as they need with the neighborhood analytics. We consider that is one thing that each novice and established bettors, in addition to operators, are going to be actually enthusiastic about.

Equally, what do professional bettors consider reside betting and the way ought to operators cater to bettors who’re used to a distinct kind of betting expertise?

McIntyre. It will depend upon the technique and preferences of the bettor you requested. Bettors who wager on a number of sports activities leagues are seemingly much less inclined to reside betting, as it’s harder to observe, and the chances in reside occasions can change quickly. Likewise, bettors who observe a single sport or league per week could desire reside betting as they’ve extra data to work with. For instance, if a staff is successful by a big margin within the NFL at halftime, a bettor could have extra curiosity in sure forms of bets, as traditionally groups successful by a large margin try to run out the clock.

Since each bettor has its personal strategy, it’s crucial for an operator to have the ability to accommodate the vary of wants that exist for differing preferences. Skilled bettors have more and more mature operations using machine studying, superior analytics, and financial-level funding methods. The principals stay the identical, nevertheless. These bettors need to get their cash down and with pace.

How is blockchain expertise utilized in your live-betting merchandise?

McIntyre. Blockchain expertise has an a variety of benefits past simply the power to just accept and place wagers in Bitcoin, Ethereum, Dogecoin, and different cryptocurrencies. It ensures safe and clear transactions, it provides an additional layer of reassurance for bettors who know that their bets will probably be paid out with the usage of good contracts, and it could actually improve revenue margins for operators by eliminating some charges and delays. The advantages listed above are relevant to each our common betting and reside betting merchandise.

The Canadian sports activities betting market is opening up. How does that have an effect on your future plans and product roadmap?

McIntyre. To begin, we all know that we’re not the one ones trying on the Canadian market. And as a Canadian firm, we’re very excited concerning the developments taking place on this aspect of the border. Any time new jurisdictions or areas begin opening up for regulated gambling the foremost gamers and new operators all need entry to that market. 

The truth for us is that Canada will probably be a significant market like another nation with tens of hundreds of thousands of individuals. Lion Gaming solely works with regulated operators and is constructed from a compliance-first perspective. We consider that our providing offers enhanced transparency from a regulatory perspective. Canadian licensing ambitions are actually on our roadmap.

Featured picture credit score: NBA High Shot by way of cnbc.com

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