Entering new markets is never an easy process. Dealing with diverse local consumer preferences, integrating new tech, and managing growth are all critical parts of developing in a new market successfully.
We caught up with Denys Parkhomenko, Chief Product Officer at GR8 Tech, to hear his thoughts around these challenges and, most importantly, to get his take on the most effective solutions available on the market for ambitious operators hoping to streamline the entry process and successfully scale-up their businesses.
As the iGaming market continues to expand across the globe, what are the key challenges for aspiring operators hoping to successfully penetrate new markets? And how can GR8 Tech’s iGaming Launch Solution help operators with this going forward?
“Operators and investors aiming to successfully enter new markets may face various challenges. These include adapting to cultural and language differences, ensuring their technological infrastructure and operations can accommodate potential growth, and understanding the local customer base. These are just a high-level overview of the typical challenges. Different managers within the operator’s team may have varying perspectives, addressing their specific needs, pains and known problems.
“Fortunately, there is good news on all fronts: GR8 Tech’s iGaming Launch solution effectively tackles these challenges. It provides an array of ready-to-go languages and a broad range of content to cater to local preferences, which includes locally popular sports and smaller teams to bet on in addition to the top-tier leagues. As for growth potential, our platform is fully capable of handling millions of active players and it can easily scale to any operational level.
“Designed after meticulous research, iGaming Launch provides operators and investors with a winning combination of a technology platform and services managed by industry experts within a comprehensive solution.”
How can already established operators streamline their internal processes, at scale, and create extra capacity to focus on strategic development?
“Established iGaming operators often face challenges associated with the later stages of the company’s life cycle: Legacy systems; hard or impossible to optimise for today’s needs; scalability issues, which strain the existing systems and processes; lack of resources; too many risks associated with changing any of the tech ecosystem’s components, et cetera. Changes could be beneficial, but the complexity of their implementation significantly slows down the process – or even stops it dead in its tracks.
“Our iGaming Upgrade solution, tailored to fit specifically the established iGaming operators, addresses their ‘pain points’ and offers a suite of tools and services that can be seamlessly integrated into their existing ecosystems, avoiding disruption or downtime. Our player migration approach and experience ensure that the transition to our platform is smooth and disruption-free for existing players. And unique product customisation tools and rich APIs give operators the ability to tailor the platform to their specific needs.
“The iGaming Upgrade solution, therefore, doesn’t merely offer technical improvements, but, in effect, provides a strategic and operational upgrade. It allows operators to delegate routine operations and focus on their core competencies: Creating unique gaming experiences, exploring new market opportunities and building stronger relationships with their players.”
Integrating new API’s and game modules into an operator’s back-office can be a complex and resource-heavy process. What are the biggest challenges with this particular process, and how can GR8 Tech help to solve these issues?
“Integrating new APIs and game modules into an operator’s back-office presents challenges related to compatibility with legacy systems, potential downtime during data migration – and ensuring security. The intricacies of different systems can impose constraints on flexibility and innovation.
“GR8 Tech, however, excels in circumventing these difficulties. Our deep understanding of the B2C and B2B aspects of the business informs the design of our solutions. We offer modular systems that effortlessly integrate with existing technologies, including third-party solutions, sidestepping the traditional ‘all-or-nothing’ approach.
“We prioritise security, especially during delicate data transfers, employing robust protection measures. Furthermore, our solutions feature no-code configuration, easing adjustment to diverse requirements. Importantly, we provide not just technology, but also our expertise and a dedicated team that oversees the entire migration process, ensuring a smooth transition. By tackling these issues head-on, GR8 Tech turns potential stumbling blocks into stepping stones towards efficiency and growth.”
The new package of GR8 Tech solutions is perfect for helping operators meet the diverse and ever-changing needs of multiple markets around the world. Which regions are you most excited about for future growth? And why?
“We are excited to go wherever our clients want to go. Several regions, such as Latin America, Asia and Eastern Europe, spark extra excitement for future growth.
“In LatAm, Brazil, Peru and Chile are opening their doors to the iGaming industry, making this an exciting region for growth. Our solutions are designed to navigate these new landscapes and utilise their potential to the max, providing operators with all the tools they need to thrive amidst evolving regulations and diverse player preferences.
“South Asia and Southeast Asia–specifically India, Bangladesh and Malaysia–also hold immense potential due to their large populations and increasing digital connectivity. Our solutions allow operators to cater to these markets’ unique demands, enabling them to deliver tailored experiences that resonate with players in these regions.
“Finally, central and eastern Europe are becoming increasingly prominent regions in the iGaming landscape, with many countries implementing more progressive regulatory frameworks. Our solutions are primed to help operators capitalise on these changes, ensuring they can meet regional requirements while offering engaging, competitive gaming experiences.”
After speaking with Denys, it’s clear that the opportunities for growth in new and developing markets are exciting and seemingly endless. With the new technology emerging on the market, operators now have the opportunity to expand quickly and efficiently with minimal risk.
New solutions such as GR8 Tech’s iGaming Launch and iGaming Upgrade will help to drive the future growth of our industry, through giving the operators the benefit of their expertise and the power to launch at scale, quicker than ever before – giving players around the world the opportunity to enjoy the same high quality customer experience as found in mature markets.
Powered by GR8 Tech solutions, the promise of an exciting future lies ahead!