What Do You Look for in an iGaming Operator?

Posted by Harry Kane on Friday, April 5, 2019

According to the most recent figures, around 46% of adults in the UK have gambled in some capacity during the previous four weeks. This number is expected to rise incrementally in the future too, particularly as online gambling becomes increasingly accessible and virtual slots continue to grow in popularity.

However, iGaming customers are finding it increasingly difficult to identify the very best and most reputable operators on the market, as the level of intensity in the sector becomes more pronounced with every passing year.

But what exactly should you be looking for from an iGaming operator? We’ll explore this below, whilst asking how brands can successfully set themselves apart from their rivals.

Trust and Transparency – a Key Battleground for iGaming Operators

Let’s start with a basic assertion; online gamblers are increasingly savvy in the digital age and will only wager their cash through a company that is fair, transparent and ultimately trustworthy.

Make no mistake; this is the single biggest requirement for online gamblers, who want to wager through a safe and secure platform that’s inherently reputable.

This is something that brands are becoming increasingly aware of too, which is why so many are investing in the delivery of superior customer service, a streamlined withdrawal process and a proactive approach to driving responsible gambling.

However, iGaming operators still have a great deal of work to do if they’re to win over the UK public, with just 30% of customers agreeing with the statement that gambling brands are “fair and can be trusted”. This number has declined by 3% since 2017, while it has also fallen significantly since 2008 when 48.8% of the public were reported to trust operators and the industry as a whole.

This is part of a wider trend in the world of consumerism, with a whopping 46% of people falling into the so-called ‘cynical’ bracket and showcasing a significant lack of trust in large brands.

Unsurprisingly, the biggest issues currently revolve around financial transactions, with an estimated 17% of people revealing their biggest gripe with an iGaming brand was the perceived non-payment of winnings.

At the same time, 15% of customers claimed that the inability to withdraw funds was a significant concern, while 14% has experienced issues as a result of misleading promotions.

Interestingly, these concerns have been at least partially addressed by the UK Gambling Commission (UKGC), which has introduced several new regulatory measures to provide reassurance to customers.

In terms of withdrawals, the regulator has ordered operators to remove unfair and obscure restrictions that actively prevent customers from accessing their cash. This followed an objective investigation from the Competition and Markets Authority (CMA), which highlighted several unfair terms and practices in the iGaming sector and even published enforcement action against two operators.

The commission has also looked to tighten the rules around player verification, which can typically take up to 72 hours in the marketplace. This provides ample time for players to register for an account, make a deposit and lay down wagers, at which point any potential withdrawal could be delayed as operators look to confirm a players’ identity.

Under the recently proposed reforms, operators will have to complete the verification process before allowing them to credit their account, as this will require brands to significantly change how they process new registrations.

In the case of misleading promotions, this was also the subject of an investigation by the UKGC back in 2018. The findings inspired the regulator to introduce new guidelines on October 31st, which imposed greater clarity and tougher sanctions for operators that breached advertising or consumer law.

More specifically, the regulator would have far greater autonomy to sanction operators who infringed upon these laws, whether they initiated campaigns that inadvertently target children or glamourise gambling in a way that could hook vulnerable gamblers.

While regulators and advertising standards groups may be working hard to introduce more stringent player safeguards, however, operators must take a more proactive approach if they’re to win the trust of their customers. This will help them to build a more progressive relationship with their consumers, whilst also enabling them to establish a reputation as a true ambassador for responsible gambling.

Aside from creating greater transparency surrounding their withdrawals process and the way in which they verify the identity of their players, operators should also look to work more closely with charities and research groups that provide assistance to problem gamblers.

One brand that embodies this approach is Mr Green, which has developed a unique ‘Green Gaming’ policy that features robust self-exclusion methods, adjustable spending limits and customisable restrictions in terms of the amount of time that players are active for. In 2017, the company also launched a predictive tool that analyses the unique behaviour of individual customers, whilst providing recommendations in terms of how they wager responsibly and manage their activity.

With this type of approach, operators can truly begin to stand out from their rivals, whilst blazing a trail for others to follow and improve the perception of the market amongst players.

The Last Word

Building trust and providing a transparent experience for players remains the biggest challenge facing operators in the UK, especially given the fact that around 27% of customers feel that the terms and conditions offered by operators are unfair.

Overcoming this challenge may also require operators to sacrifice short-term profits in a bid to cultivate trust and consumer loyalty, whether this involves minimising the wagering requirements placed on bonus offers or applying more stringent verification procedures that prevent players from wagering immediately upon registration.

With this solid and sustainable foundation, operators can look to tackle other aspects of the service that they provide and deliver an even more enjoyable user experience to their customers. This could manifest itself in various ways, including the presentation of incredibly competitive odds and the provision of low variance casino games that deliver an excellent RTP rate.

Either way, there are plenty of steps that operators can take to meet the needs of their customers in the digital age, so long as they start by tackling the trust issue and the problems experienced by players on a daily basis.