It is no secret that the betting industry is a highly competitive industry, with many operators and suppliers offering shades of essentially the same product and experience. From a customer’s perspective there is little to distinguish most online gambling experiences. This homogeneity of experience unquestionably equals opportunity - with forward thinking operators crying out for ways to differentiate themselves from their competitors, to stand out from the crowd.
There is certainly plenty of incremental innovation going on in the industry - with small improvements being made all the time, new games being invented or new pieces of functionality added into the mix - but incremental innovation alone is unlikely to deliver a truly differentiated product or experience, unlikely to really distinguish one operator from another. Surprisingly the industry has spawned rather less transformational innovation than one might expect given how competitive it is. The experience of placing a bet online today is not that fundamentally different from the experience of placing a bet at a betting shop 30 years ago; the gambling industry has not reinvented itself for the digital age in the way that some industries have. It would be foolish to assume (hope?) that reinvention is not coming, or that the gambling industry is somehow 'safe' from disruption and indeed the vibrancy of the gambling related start-up community shows the threat of disruption is very real.
There is seemingly no end of entrepreneurs who claim to have hit upon the next big thing or claim to have invented the Uber of gambling.... (really awful phrase - please never use it...!) but what makes an idea a good one, what makes an operator sit up and get excited, what makes an operator think about an exclusive deal or wanting an equity stake, what makes an operator worry for the future of their business model?
The most exciting and transformational ideas and propositions I see most often come from outside the gambling industry and often they are only partial or half-formed ideas when I first hear of them. They tend to be borne out of customer insight and deeply rooted in unmet customer needs rather than in opportunities thrown up by new technologies (although may well make use of new technologies). They tend to have evolved and grown as they come into contact with other ideas, with trends, with technologies and most importantly with customers. Ideas that haven't evolved or have been developed in isolation from customers are far less likely to be very successful. We seek to support and contribute to this insight based evolution process by being really open to pretty much any and all discussions a startup or entrepreneur would like to have and in fact I would far rather have an informal discussion about an embryonic idea - then bring in some of our most creative and customer focused minds from across our business to help you develop it - than hear a highly polished pitch about a market ready proposition with probably wildly ambitious financial models going out 5 years. Being able to evidence potential for short term ROI is far from necessary.... We are very aware that the best ideas won't come from within our own offices but we do believe that we have a lot to offer in helping you to shape and develop an idea or proposition.
Get in touch - not to pitch, but just to start a discussion....