Lisbon has just staged the SBC’s most renowned flagship event, bringing together the biggest and brightest names in the world of gaming. The summit attracted almost 25,000 delegates, which was a major 70% rise when compared to the 2023’2 SBC summit in Barcelona.
The event welcomed some of the finest iGamers experts from 134 nations. And it has about eight stages for hosting discussions from guest speakers throughout the summit.
A total of 600 iGaming experts, decision-makers, and executives across the C-suite were involved in talks about the industry’s growth, its latest innovations, and the importance of a sustainable and responsible future.
So, in this read, we’ll explore some of the major key takeaways from the SBC Summit 2024, while putting you in the picture of the advancements arriving at a breakneck pace in the global gaming scene.
Let’s start!
One of the biggest trends to emerge from the summit was the need to deliver effective yet frictionless fraud protection for players and operators alike. The conference reinforced the need for responsible gaming measures, as well as age verification, with gaming jurisdictions becoming ever more stringent with their regulatory frameworks.
The biggest challenge of all is helping operators fulfill these legal requirements without affecting their professionalism and trust in the eyes of players. Frictionless seemed to be one of the main talking points of the week, particularly in emerging markets, where operators are working hard to turn first-time visitors into loyal players.
Throughout the SBC Summit 2024, there was also a realization that the iGaming industry was in the midst of a changing regulatory environment.
Several iGaming markets that had previously thrived and survived without regulation are moving to centralized regulatory frameworks. All of which has lasting implications for achieving licensing, as well as the need to be Know Your Customer (KYC) and Anti-Money Laundering (AML) ready.
As these newly regulated iGaming markets begin to abide by more stringent regulations, operators will need to experiment with new ways of determining player location via geolocation technologies. They will also need to verify player identities and proof of address to remain compliant and competitive.
During one particular discussion about the performance of live dealer casino games, some industry executives gave the subsector a “B minus” for its immersive value. Some also made reference to how live casino games cross-sold easily with online sportsbooks, especially with users who liked to bet in-play on live-streamed sporting events.
However, there was also a pervading sense that live casinos needed to do more to reach out to mobile players who want to enjoy casino gaming on the go.
There was a unanimous vote that the mobile live casino experience was less impactful given that many mobile iGamers play with the sound off, rendering localization unnecessary. Mobile gamers, particularly in fast-growth markets like North America, turn to Canadian online slots sites for fast and accessible action on any device or screen size.
Do You Know?
There were multiple themed zones in Lisbon’s SBC Summit such as Casino & iGaming, Sports Betting, Player Protection, Esports, Gaming, Payment Expert Summit, Affiliate Leaders Summit, etc.
The rapidly expanding artificial intelligence (AI) means gaming needs to find ways to harness this technology to enable operators to better assess the characteristics of their players. AI should be able to pinpoint betting patterns and flag instances of unusual activity.
However, the industry needs a reliable dataset to take full advantage of AI’s potential. Operators need to verify that their data streams are legal and robust enough to support AI-led fraud detection and player monitoring solutions.
AI should also be generating sufficient value when it comes to personalization, delivering more targeted gaming suggestions that drive engagement and loyalty.
Bonus abuse has been an age-old issue in gaming for some time. Gaming and sportsbook operators still talked about the problem of multi-accounting. In ungoverned or newly established markets, operators may violate ordinary KYC procedures to try to deliver a more frictionless account opening experience.
But, in doing so, many operators lean heavily on phone numbers to authorize new accounts. Users get creative by generating new ‘virtual identities’ using one-off SIM cards, enabling repeat promotion abuse. Operators are keen to find a solution to this issue.
Finally, a panel of sports betting experts said it’s becoming increasingly easier for online sportsbooks to capitalize on niche sports.
The panel, moderated by Sarah Butler, who is also the founder of Sports Business Connect, discussed how the Olympic Games has had an impact on driving interest in betting markets on niche sports. With athletes becoming progressively high-profile, sportsbooks have an opportunity to join forces with these big names to increase the interest of bettors.
The panel looked at the rising popularity of darts as one of the fastest-growing niche sports betting markets, as well as archery and shooting, due to its modest but consistent audience.
There’s plenty to keep an eye on in the gaming world, as it seeks to improve player protection, personalization, and so much more besides.
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