The Future of Video Content in the iGaming Industry by Michael Pedersen, Chief Commercial Officer at Livespins
Streaming is one of the most popular forms of entertainment in the iGaming industry. Being able to bet behind and engage with players has breathed life into the industry, but what does the long-term future of iGaming streaming and video content look like?
At Livespins, we see an opportunity to take the iGaming industry to new heights, creating a new vertical that combines classic slot action with modern video trends.
Players want to be entertained when they log in to an online casino. When you visit a real-life casino in Las Vegas or Atlantic City, you are greeted with a host of entertainment options. It is, for the most part, an extremely social and engaging experience. Outside of live casino, which has not been majorly changed for the last decade, online casinos have never offered anything close to this experience, and it is time for that to change.
You log in to a casino, find your favourite game, spin the reels for a while, and leave. There is nothing to make you want to stay around at a casino outside of this. With people spending more time than ever online and gambling becoming increasingly popular, the industry is missing a golden opportunity.
With a new generation of players emerging and iGaming catching fire across North America, the industry needs to throw its arm around entertainment and find ways to revolutionise the online gambling experience.
So what kind of video content could we expect from the iGaming industry? The possibilities are endless, with new video trends emerging online all the time. The industry needs to feel as though it is a part of these trends and moments and not just something that is in the background.
Casinos creating their own content channels is something that could become a very real possibility. In the same way that brick-and-mortar casinos host events and shows, online casinos could look to do the same thing. Imagine a DJ hosting a live set as he spins the reels to your favourite slots or a celebrity being interviewed as they play with a dealer that is asking the questions. Other industries have tapped into this, so why can’t iGaming? If people will watch celebrities eat hot sauce while they talk about their careers, why wouldn’t they watch them play blackjack or poker?
Video content can also be a great way of building communities and crafting a more social experience around online gambling. The sports betting industry looks to be leading the way in this department. Influencers and content creators have become heavily involved with the sector, and watch-along parties, where users place bets alongside their favourite streamers and then watch the event, have become extremely popular.
This is similar to betting behind but on a bigger scale, with the sport itself becoming a big part of the watching experience. This is the type of content that will really excel in the next few years, and iGaming needs to find a way to expand on what it already has to really unleash the potential of streaming.
Operators and developers could also benefit from embracing the power of streaming and content creators. Video content can be an excellent way of building hype around a game’s release, and this could be combined with exclusive launches and reveals by streamers. Allowing players to gain access to the latest slots for the first time through an exclusive stream could be an excellent way of getting people’s attention, and it could also lead to some really creative video content.
One clear thing is that video content will continue to dominate online over the next few years, and now is the time for the iGaming industry to get creative. Streaming and video content provide unique opportunities for engagement, and they will also play a pivotal role in helping the industry become a part of the wider entertainment world. With a new generation of players coming through, now is the time for iGaming to embrace the future.
Michael Pedersen is a strategic commercial leader on a mission to drive growth for tier-1 brands. He has more than 14 years’ experience within the online gambling industry and 20+ years’ commercial leadership experience across brands like Pokerstars and NetEnt. In addition, he co-founded social casino Letsbet.com as well as iGaming NEXT. He holds an MBA from University of Leicester and has completed executive programs at Stanford.