iGaming 2024: Understanding The True Positives Of A Product-centric Organisation

As the growing iGaming industry continues its inexorable march across the globe, reliance on robust and intelligent technology to support this expansion is stronger than ever. 

But developing products for rapidly-evolving iGaming markets remains a constant challenge for industry stakeholders.

We caught up with Denys Parkhomenko, Chief Product Officer at GR8 Tech, to hear his thoughts on the future of product development iGaming and, most importantly, explore how to best leverage technology to scale operations on a global level.

Do you think the iGaming industry is making the best use of mobile device capabilities regarding maximising the ‘sportsbook experience’? What factors are limiting the range of features that can be offered? And how do you think they can be overcome?

“As with any other industry, the iGaming sector is facing the same range of challenges that present themselves when delivering mobile products because of the limitation of the screen. 

“This is why I think personalisation and the technology based on artificial intelligence, or machine learning, is in the spotlight.

“Here at GR8 Tech, we are leveraging these technologies to provide the users and the players with effective, targeted communications delivered through features that they are already familiar with using. This is the best way to get around the challenge of a small screen.

“Another difficulty we face when delivering mobile products is related to consistent high performance. 

“Due to the lack of capabilities for the range of devices available on the market, the data carriers and the limitation on traffic, we, as software developers, are constantly having to adapt to ensure our operators are happy, and have applications that are easy to use.  

“And of course, we can’t forget about the limitations caused by regulation.

“At GR8 Tech we don’t see them as too big of a barrier for us. Responsible Gambling is key, and at the heart of everything we do, while developing new countries and emerging markets. This still leaves us with a lot of space for innovation, adapting our products and development journey as new devices become available on the market.”

What is your definition of a product-centric organisation, and how can this be leveraged to best suit the customer or end-user?

“Today, in general, most companies are more client-centric. At GR8 Tech we’re moving from a product-centric to a client-centric organisation. We’re determined to mould our company culture this way; where the client is a key stakeholder who definitely knows what they need best. Of course, we’re also committed to ensuring that our products are also geo-specific, with the full range of features and tools to maximise customer experience. 

“To be a product-centric company, I think the key is to communicate with the clients and be as transparent as possible. As far as the players are concerned there are plenty of different mechanics available that we can use to gather a wealth of customer insights. However, the real trick to being a successful product-centric company is knowing how to convert this data and translate it into tangible ‘pain points’ that GR8 Tech has the market-leading solution for.”

Operating across multiple jurisdictions can be a challenge because of the fragmented regulatory frameworks. How does this impact your ability to create the most engaging market-leading products? Have these increased Compliance requirements been a limiting factor, or does it actually make you more innovative?

“It definitely is making us more innovative, that’s how you survive!

“I think that technology is the key here, with the latest advancements it’s possible to make scalable solutions and adapt the platform for any product. In regards to some specific requirements, for example, at GR8 Tech, we understood that taxation is very different country-by-country. So we decided just to create a separate module inside the platform that is easily adjustable, and it is interconnected to the full platform. This means that at the touch of a button, we can fine tune our applications to a variety of regulators requirements almost instantly. It can be really challenging because it often takes a lot of time to enter a new market. We also adapt in the countries where we’re already operating.”

How do you think we can overcome the challenge of sourcing good tech talent? Some argue that iGaming can’t compete with other tech companies because of our industry reputation, causing operators to struggle to find good talent, or having to overpay the odds to attract the right person. Would you agree? What’s the solution going forward? 

“I think that this was a big challenge maybe four or five years ago. Now, from my perspective, I can see there’s a better situation because people have a better understanding around the business of gaming. 

“Now they know it’s more about entertainment and having fun. Plus, with the integration of trendy new features like Gamification, the opportunities are endless.

“Even in the emerging markets, they are quickly becoming recognised as legitimate entities. So, from this standpoint, it’s very useful for us as an industry to continue strong positive brand recognition in these new jurisdictions. When people join a company, they’re looking for a great culture; a place where people can feel safe to be themselves and have the autonomy to manage their own career progression. 

“This is something that we and a lot of other gaming companies have been encouraging around the workplace for some time. Creating more working environments like this will make it a lot easier for the iGaming industry to attract talent from the new generations.”

Editor’s note:

After catching up with Denys it’s clear to see that a key factor in creating market-leading products is adaptability. 

As the global iGaming market continues to grow, industry stakeholders must be able to evolve their offerings quickly and efficiently in order to stay ahead of the curve.

It’s also interesting to observe the revolutionary transition from product-centric to client-centric focus that the industry is undergoing – spearheaded by trendsetters, such as GR8 Tech.

We look forward to seeing the impact this has on the industry going forward, helping to create safe enjoyment and sustainable growth well into the future.