The iGaming industry's relentless expansion continues its global march across all continents, underscoring its reliance on reliable and innovative technologies for development. However, crafting relevant products for the rapidly changing iGaming markets poses an ongoing challenge for industry stakeholders. In a candid interview with Denis Parkhomenko, Chief Product Officer of GR8 Tech, during the IGF edition, we explore the future of iGaming product development and, crucially, how to leverage technology effectively for global scalability.
Q: Is the iGaming industry maximizing the potential of mobile devices to enhance the betting experience? What factors restrict feature diversity, and how can these challenges be overcome?
A: The iGaming sector, much like other industries, confronts similar challenges to mobile product companies. The limitation of mobile device screen size is a prominent hurdle. Personalization and technologies like artificial intelligence and machine learning take center stage across all technological spheres. At GR8 Tech, we deploy appropriate technology to offer users and players effective, targeted communications through familiar features. Consistent performance poses another challenge in delivering mobile products, requiring constant adaptation due to device variations, storage limitations, and traffic constraints. Regulatory restrictions are acknowledged at GR8 Tech, where we adhere to the law, prioritizing responsible gaming. This approach allows us ample room for innovation, adaptation, and steady growth as new devices enter the market.
In conclusion, the iGaming industry's ability to navigate challenges, uphold regulatory standards, and foster innovation hinges on its commitment to responsible gaming and leveraging cutting-edge technologies for a seamless betting experience.
Q: How would you characterize a product-centric organization and its strategy for meeting customer or end user needs?
A: In the current landscape, most companies prioritize a customer-centric approach. At GR8 Tech, we are in the process of transitioning from a product-centric to a user-centric organization. Our commitment involves molding our company culture based on the belief that the customer, being the primary stakeholder, possesses a clearer understanding of their needs than any analyst or specialist. Concurrently, we ensure our products are not only geographically targeted but also equipped with a comprehensive array of features and tools to optimize the overall customer experience.
To evolve into a product-driven company, effective communication and maximum transparency are deemed essential. In the gaming sector, various mechanics are employed to collect valuable customer information. However, the true essence of being a successful product-centric company lies in the art of transforming this data into tangible pain points, each with a solution offered by GR8 Tech, exemplifying our commitment to meeting customer needs.
Q: Operating in multiple jurisdictions poses challenges due to diverse regulatory frameworks. How will this affect your ability to create compelling, market-leading products? Are increased compliance requirements a hindrance, or do they foster innovation?
A: Embracing the challenges of operating in multiple jurisdictions fuels innovation, a crucial element in our survival within the iGaming industry! The key lies in leveraging technology advancements to create scalable solutions adaptable to any product. Specifically, at GR8 Tech, we recognized the substantial variations in tax systems across countries. To address this, we implemented a separate module within our platform, seamlessly customizable and integrated. This enables us, with a simple click, to instantly tailor our applications to meet the diverse regulatory requirements of different countries. While entering new markets demands a significant time investment, ongoing adaptation to the countries where we already operate is equally imperative. This dynamic environment encourages continuous innovation, ensuring our products remain at the forefront of market competitiveness.
Q: How can we address the challenge of securing skilled technical talent? Some argue that iGaming faces difficulties competing with other technology companies due to its less-than-stellar industry reputation, leading operators to struggle in recruiting or resort to overpaying for the right talent. Do you agree, and do you see any solutions to this issue?
A: I perceive this as a significant concern, perhaps more pronounced four or five years ago. From my current perspective, the situation in iGaming has improved as people now understand and accept the gaming business better. The focus has shifted towards enjoyment and having a good time. Furthermore, the integration of trendy features like gamification has expanded the possibilities within iGaming, attracting professionals.
Even in emerging markets, companies within our industry are swiftly acknowledged as legitimate legal entities. Consequently, it is highly advantageous for our industry to perpetuate the positive momentum in brand awareness within new jurisdictions. Job seekers increasingly seek an eco-friendly, non-toxic corporate culture where work is a safe space for individuals to be themselves and exercise autonomy in managing their career development.
Many iGaming companies, including ours, are actively working towards creating such a corporate environment. Establishing such a workplace will facilitate the iGaming industry in attracting the next generation of talent.
