In this interview with CalvinAyre.com’s Rebecca Liggero, Helen Walton of Gamevy explains why half-made products have no place in the online gambling industry.
Oftentimes, many consider running a business as a gamble. They put all their hard-earned money into something – whether a product or stocks – without the certainty that their businesses will succeed in the long run.
But like successful gamblers, entrepreneurs who know how to take risk are more likely to reap higher rewards.
That’s why Helen Walton of Gamevy encourages online gambling operators to become braver in innovating their products even if there’s no guarantee that it will be an overnight hit.
She lamented that the online gambling industry have become stuck in their comfort zones that they forget to improve the quality of their products.
“You can’t do it with frankly a half-made product. You have to put all the effort into creating something that looks beautiful and plays wonderfully without actually knowing if it is going to succeed,” Walton told CalvinAyre.com. “You all talk about wanting innovation and none of you actually deliver on that. Be braver and be faster. For heaven’s sake, improve your pipeline because I can’t believe how slow this industry is in innovation compared to other industry I’ve ever worked with.”
Part of the problem, according to Walton, is that people underestimate the amount of work that needs to go in choosing how put their time and money to develop an idea.
“Everyone has ideas but they don’t make up innovation,” she explained. “Because when you talk about ground breaking innovation, all of the kind of estimates that might you be doing about something is going to be successful or not. How much money worth, they are just guesses, and they are so inaccurate that often they are totally useless.”
Walton said she had her fair share of challenges when it comes to testing her ideas to the market. There was a point, according to Walton, that she has to go through the entire process of getting licensed in order to test their gaming ideas.
They also tried persuading big operators to sign them up, which is a slow grueling process, according to Walton
“So you have to do everything you can. You have to test it out without being for real money, you have to test it with lots of industry insiders but at the same time, you have to stay true with your vision. Certainly we got told by a lot of industry insiders ‘that’s a rubbish idea, skill gaming will never work, we tried it and we failed before,’” she said. “For operators within the industry, I think I would say very clearly, be braver.”