In this interview with CalvinAyre.com’s Rebecca Liggero, Edward Ihre of Codeta explains why many affiliates are venturing into online casino.
The global gambling market is projected to grow for the next three years as more countries opens up to the game and enact relevant laws that will legalize and regulate gambling in their respective jurisdiction.
Pundits predict that total revenues coming from online casinos and gaming market around the world in 2018 will be more or less than US$56 billion. With the rise of the global gambling market, experts observe that there is also a growing trend of affiliates jumping into online casino ownership.
Edward Ihre of Codeta, however, pointed out that affiliates’ decision to shift to online casino ownership is anyway connected to the global gambling market growth. He said affiliates are only trying to fill what he described as online gambling market gap.
“I think, in the case of our business, since we’ve worked with so many different gaming companies, we’ve picked up a lot of information and research by doing so. You get to understand what those businesses are doing well, what are they not doing so well,” Ihre told CalvinAyre.com. “Then you can sort of understand that there’s a gap in the market or window of opportunity. That’s what we are identified by working with 140 different companies.”
Citing his experience, Ihre has observed that live casino has up until now only been a product amongst many product of most operators have. He concluded that live casinos would be a great additional tab to a sportsbook or casino.
“I happen to be very good friend with the founders of evolution gaming, they’ve been 10 years in the business. I’ve been sort of following their development and always been glancing over the live casino product itself,” he said. “It’s always been tempting to say hey we own that tab and we would create a particular brand around that particular product. That’s when we went out to investors and successfully raise millions of euros. Then the project really got going in terms of actual design and production of website, and signing agreement with different providers etc. and setting up the operations around it.”
Meanwhile, Ihre pointed out that it is important to make affiliates understand what makes them different to other operators.
“Since one of the brand value key words in our brand proposition and our businesses is transparency, and we think, for us it is important to get affiliates on-board to understand what makes us different from other casinos,” Ihre said. “Because they primarily promote slots-focused operators, and we want to make sure that they understand us being different but also the end-consumer being different. So that’s why we really want to show them our research and understand our strategy.”