Lauren Harrison, a columnist for IGF, underscores the critical importance of localization when introducing gambling products to new markets. However, Uplatform experts observe a gap in how many operators fulfill the necessary requirements aligned with regulatory laws and customer demands. Uplatform, a burgeoning sports betting and iGaming platform based in Cyprus, operates across more than 65 languages and 65 regions, boasting a workforce of 1,500 industry professionals. In an exclusive interview with IGF, Maria Bashkevich, Uplatform's head of marketing, dissects the pivotal elements of effective localization, emphasizing the significance of pre-launch research and strategies for navigating diverse gaming preferences across various regions.
– What is the true definition of localization and what are its key principles?
– At Uplatform, we view localization as "Towards Translations and Beyond," inspired by Buzz Lightyear's famous motto "To Infinity and Beyond." It goes beyond mere translation, encompassing the tailoring of our betting platform to meet the distinct preferences, cultural intricacies, and regulatory demands of specific regions or markets. This multi-dimensional approach touches every aspect of our platform.
Key principles of localization include:
· Language and translation: Providing content in users' native language enhances accessibility and convenience.
· Cultural context: Incorporating cultural references, holidays, and preferences into the betting experience.
· Regulatory compliance: Adhering to local laws and regulations governing gambling and betting.
· Payment methods: Offering a variety of popular and widely-used options in the target market.
· Tailored content and offers: Customizing bookmakers, betting markets, and promotions to align with the interests and preferences of local punters.
By prioritizing these principles, operators can develop localized betting experiences that effectively engage and resonate with users in each specific region. We advocate for this approach to avoid falling into the one-size-fits-all trap, which overlooks the unique legal, cultural, and online gaming nuances of different regions. Neglecting proper localization can result in decreased engagement, compliance issues, and the risk of alienating the audience, ultimately leading to a diminished user experience and clientele.
– Are industry operators conducting sufficient research into the new markets they are entering? How deep should their research go, and what are the potential consequences of superficial research?
– Regrettably, 80% of operators overlook a crucial step in their research, a misstep that, in my view, will inevitably cost them time and money down the road. It's astonishingly common; I encounter individuals who promise to drive traffic from a hypothetical country 'N' and suggest an impulsive leap. Traffic is undoubtedly valuable, and these individuals can deliver it, but what if your platform isn't compatible with that market? Traffic becomes futile if it fails to convert.
Conducting thorough research before venturing into a new market isn't merely a precaution; it's a strategic imperative. It mitigates risks and optimizes success by tailoring offerings to the unique needs and preferences of the market. Without such groundwork, operators risk legal entanglements, failure to resonate with consumer interests, or an inability to adapt to local preferences.
Before embarking on a new market, we advise operators to consider the following:
– Legal factors: This typically receives scrutiny, but its scope is broader than one might assume. It encompasses licenses, certifications, age restrictions, technology standards, betting and gaming limits, payment processing regulations, commercial communications, and marketing standards, among others.
– Competitive analysis: This entails comprehensive research into competitors' UI/UX, popular content and payment methods, marketing strategies, acquisition and retention strategies, and more.
– Target audience: Understanding potential players on a personal level—such as their daily routines, paydays, and media consumption habits—can significantly enhance marketing and content strategies. For instance, incorporating bets on trending TV shows like Squid Game has proven effective in attracting new users.
Mastering these factors serves as the foundation for entering a new market. They are indispensable for making informed strategic decisions that extend beyond mere traffic acquisition, fostering lasting engagement and success.
– How much should operators rely on cryptocurrency as a reliable payment solution, especially in emerging markets? Do you anticipate its popularity to surge in the future?
– I believe our head of the payments department, Anastasia, is on the brink of authoring a book titled 'CRYPTO IS NOT A MAGIC PILL.' It's a playful jab at a crucial point: while cryptocurrency holds significance in the iGaming industry, it's not a panacea.
While cryptocurrency gains traction as a payment method in emerging markets, its adoption isn't universal. Operators should view cryptocurrency as one of many payment options, rather than a sole reliance.
Banking solely on cryptocurrency as a solution can be a risky venture. While there are success stories of projects exclusively using cryptocurrency, they're exceptions rather than the norm. The digital payments landscape is diverse, and maintaining a range of options ensures operators can cater to different markets and needs.
Looking ahead, I foresee cryptocurrency's influence expanding with evolving regulatory frameworks and increasing consumer awareness. However, it's crucial to emphasize that operators should support a wide array of payment options to expand their business reach and serve diverse markets effectively.
– How do players’ content preferences vary across different regions? Have you identified any synergies and what strategies do you employ to manage these diverse content markets?
– This question truly sparks a fascinating discussion! While synergies may exist in certain aspects of content preferences, the reality is that player tastes exhibit vast divergence across regions. This divergence is influenced by cultural nuances, historical contexts, betting traditions, and regulatory landscapes. Preferences can span from favored sports to preferred slot machine mechanics and appealing features, showcasing intricate diversity.
Every country, even each region within a country, possesses its own distinct characteristics, making it imperative to grasp these nuances.
Let's consider Latin America as an illustration. It's widely acknowledged that sports, particularly football, ignite passionate fervor across the region. However, upon closer examination, nuances emerge: for instance, in Peru, there's a notable fondness for e-sports (15%), whereas in Argentina, e-sports aren't as prevalent (2%). Thus, if one aims to establish a gaming enterprise in Peru, offering a robust eSports platform becomes crucial.
Effectively managing such fragmented content markets demands a robust localization strategy. This strategy must be comprehensive, encompassing the customization of sports betting, casino offerings, promotional endeavors, and more to align with regional preferences. Leveraging data analytics, gathering player feedback, and cultivating deep market understanding serve as foundational pillars. Through this approach, operators can tailor their offerings to deliver a personalized and resonant betting experience for each target market.
Ultimately, success hinges on recognizing and embracing the unique attributes of each market—a task that necessitates extensive research and, ideally, collaboration with a seasoned platform willing to share insights garnered from vast experience.
Editor's note:
Navigating new markets presents its challenges, but the wisdom shared by Uplatform shines through: "The key to success lies in recognizing and embracing your uniqueness." The one-size-fits-all approach to multi-jurisdictional iGaming operations is "a trap that fails to acknowledge the unique legal, cultural, and iGaming intricacies of different regions," cautioning against a misstep that guarantees failure, according to Uplatform.
