- July 25, 2023
White label and the iGaming platform are two interdependent brothers. Although their user groups are different, the gaming platform is mainly for the C-end, and the users of the white label are the B-side. The C-end users are also one of the main optimization targets of the white label. After all, the main users of the white label online gaming system also include C-end users.
With the development and popularization of the Internet and the progress of the digital age, both the white label and the gaming platform will face opportunities and challenges of change. Whether from the perspective of the C-end or the B-end, the future white label's main battlefield will be based on VR and smart gaming. The B-side focuses on big data user analysis and research and development of AI smart products. Why do we say that? Then, let the editor of TC-GAMING tell you about the future development trend of white label and gaming platforms.
Current State of the Global iGaming Market
Before discussing the future development of white label and the iGaming platform, let’s first understand the current global iGaming market. After all, in any industry, only market demand is the cornerstone of a business’s survival and prospects and can promote the development and growth of the industry.
According to financial insight statistics. The value of the global gaming market will reach nearly USD 449.04 billion in 2022, at a compound annual growth rate (CAGR) of -0.9% since 2017. The market is expected to grow from US$449.04 billion in 2022 to US$765.89 billion in 2027. CAGR of 11.3%. The market is projected to grow from USD 239.22 billion in 2027 to US$847.54 billion in 2032, at a CAGR of 2.0%. In fact, there are several factors driving the expansion of the gaming market.
Rise of iGaming
A comprehensive research report pointed out that the global mobile iGaming market will show a rapid growth trend from 2017 to 2021, and the compound annual growth rate will reach 18.84%. The popularity of mobile devices and the rapid advancement of technology provide players with the convenience of participating in iGaming activities anytime, anywhere. Whether in a public place, on the go, or in the comfort of your home, players can easily enjoy the fun of gambling while keeping it more private. This convenience has attracted many players who have yet to gain a previous iGaming experience, driving the growth of the mobile gaming market.
Taken together, mobile gaming shows huge growth potential globally. Mobile iGaming will continue to be the main growth engine of the iGaming market, providing players with more choices and a more convenient iGaming experience.
Gambling legalization area is expanding
In recent years, the trend of legalizing gambling has continued to expand around the world. More and more regions and countries have realized the importance of legalized gambling for economic development, tourism, and tax revenue and have therefore adopted corresponding legislative and regulatory measures.
Some regions have fully legalized gambling and established a comprehensive regulatory framework, including issuing iGaming licenses, establishing regulatory agencies, and formulating relevant laws and regulations. The legalized iGaming market in these areas operates standardized, attracting many investors and operators to enter, bringing significant economic benefits and employment opportunities to the local economy, attract tourism and increase tax revenue. The public has gradually realized the contribution of the iGaming industry to the economy and has a more tolerant and accepting attitude toward the existence of gambling.
At the same time, some regions are gradually opening up the iGaming market and adopting a gradual transition to legalization. They may start by introducing a specific type of betting, such as lotteries or horse racing, and gradually expand it. This gradual legalization process is affected by public opinion and social culture.
To put it bluntly, it is to dilute the sensitivity of gambling step by step according to the national conditions or regional conditions, which the people and some political factors can accept. But the final fact is that gambling legalization is constantly expanding. It is a positive trend for the iGaming industry and provides more business opportunities and development space for iGaming platforms.
People are less sensitive to gambling
As we mentioned above, the legality of gambling has been established, which has increased the public's acceptance of gambling and reduced concerns about the iGaming industry. With the development of the iGaming market and changes in cultural concepts, people gradually began to view gambling as a kind of entertainment, not just simply gambling. People are starting to realize that moderate gambling can provide entertainment and excitement.
This change in social perception will not only lead to a reduction in the public's sensitivity to gambling but will also promote the development of the iGaming industry. At the same time, people's recognition of iGaming platforms is also increasing, reducing the rejection of iGaming and providing more opportunities for developing the iGaming market.
Future Competitiveness Trends of Betting Platforms
We analyzed the iGaming market demand above and concluded that the global iGaming market will continue to expand. At the same time, online iGaming will be accompanied by the iGaming market's expansion and the Internet's popularity. However, as the market grows, competition will follow. Offline physical casinos have inherent experience advantages which are incomparable to iGaming.
However, to increase competition and user stickiness and expand the user market, VR and smart iGaming will be unavoidable breakthrough technologies in the future. Unique VR environment experience and the fast and efficient betting mode of AI smart iGaming can stand out from the competition among many iGaming platforms.
VR meta-universe betting experience
Although the topic of iGaming VR existed a few years ago, it is a bit clichéd, but VR technology has matured and been applied to iGaming, which is undoubtedly of great help to iGaming. The goal of offline casinos is to ensure an enjoyable experience for players, preventing them from switching to competitors due to lackluster games. To achieve this, casinos not only offer bonuses and promotions to enhance entertainment value and retain players.
VR utilizes virtual reality technology to bring players into a realistic and highly interactive virtual iGaming environment. Through VR equipment, players can enjoy an immersive experience in the virtual iGaming platform that is not lost to offline casinos. Gamblers can indulge in the excitement and fun of gambling. At the same time, VR can also provide more interactive and social functions.
Metaverse is also a popular stage now because online gambling combines metaverse to create a comprehensive and realistic iGaming experience. Choose different casino game types, participate in casino games with other players, interact, communicate, and compete in real-time, enhance the social experience, and enjoy the real casino atmosphere without leaving the house.
Although VR has great potential in terms of technology and experience, it also faces some challenges. Technological advancements, falling costs, and wider adoption could be key factors in whether VR becomes a mainstream trend in iGaming.
AI iGaming Potential
With the rapid development and application of artificial intelligence (AI) technology, the popularity of CHATGPT this year has turned the popularity of AI in various fields, and the stocks of AI alone are all on the rise; is AI really popular? If it wasn't really applied in practice, it probably wouldn't be like this. AI can be used, and now it is gradually permeating various industries, including the field of gambling.
AI has great potential in iGaming. It can help iGaming operators provide smarter services, optimize the iGaming experience, and make breakthroughs in risk management, predictive analysis, and customer personalization.
The potential and prospects of AI in the field of gambling are as follows:
- Data Analysis and Prediction Capabilities: AI can analyze huge amounts of data and identify patterns and trends, thereby providing more accurate odds predictions and outcome predictions. It can make intelligent decisions based on historical data and real-time information, help iGaming operators optimize odds settings, and provide more accurate predictions of game results, thereby improving user experience. Especially for sports betting and lottery, if you use them in place, you can benefit greatly.
- Risk management and fraud detection: AI can detect potential fraud and risks by monitoring and analyzing player behavior patterns in real-time and protecting iGaming platform security. It can identify abnormal betting patterns, multi-account behavior, and other fraudulent behaviors and take corresponding measures in time to protect the interests of the platform and players. The most direct way is to brush the running water and so on.
- Personalized recommendation and experience: AI can provide each player with personalized recommendations and game experiences by analyzing the player's interests, preferences, and behavior data. It can provide customized game content, rewards, and promotions based on the player's history and preferences, enhancing user engagement and loyalty.
- Automation and Efficiency Improvement: AI can automate some of the repetitive tasks of iGaming operations, such as customer support, payment processing, and data analysis. This can greatly improve operational efficiency and save labor costs.
The application of AI in the field of gambling will promote the innovation and development of the industry and improve the iGaming experience, risk management, and efficiency. It will bring more intelligent services to iGaming operators and provide players with a more personalized, safe, and exciting iGaming experience.
With the continuous advancement and maturity of technology and the deepening of application, these problems will be gradually solved, and AI will become an important driving force in the iGaming field and lead the industry's future development.
Therefore, VR and AI will be the core competitiveness of iGaming platforms in the similar C-end user market. In the same way, whichever white label masters the mature technologies of VR and AI first will have the initiative in the white label.
Data Analysis of White Label's Betting System
We mentioned before that the future development of the iGaming platform’s core competitiveness for C-end iGaming users and the iGaming system of the white label plays an important role in it. So, where is the white label's core competitiveness? This problem is actually easy to explain. The core competitiveness of the white label also relies on data and AI.
With the development of the times, the gaming platform needs to effectively simplify the workflow and increase accurate user marketing. Therefore, white label companies need to continuously invest resources and energy to conduct in-depth research and development in data analysis and artificial intelligence. These efforts will not only help improve the network company's operating efficiency but also provide better services and a experience for the iGaming platform.
What has been said above may be a bit general. In fact, what the editor of TC-GAMING wants to explain is the data analysis function module of the iGaming system. We all know that white label's iGaming system has a statistical function. Sometimes the iGaming platform simply sees it as a data reporting system.
However, has the business situation behind this data really been understood? Actually not! The data analysis function of the iGaming platform system background plays a very important role in the iGaming industry. It collects, collates, analyzes, and interprets a large amount of data generated on the platform and provides valuable information and insights for the iGaming platform operators, thereby helping the iGaming platform make more informed decisions and optimize operating strategies.
It can help iGaming platforms understand users, optimize products and services, improve user satisfaction and retention rates, and support decision-making and risk management so as to gain an advantage in the highly competitive iGaming market.
TC-GAMING is here to briefly explain the meaning behind these data:
- Understand user behavior: Data analysis can track user behavior on the iGaming platform, including visits, page stay time, registration and login frequency, betting records, etc. Through these data, operators can understand users' preferences and interests to provide targeted services and activities that are more attractive to users.
- Optimizing products and services: iGaming platforms can understand user feedback and evaluations of different products and services through data analysis. According to the needs and opinions of users, the platform can improve and optimize the product to provide an experience that is more in line with user expectations.
- Improve user retention rate: Data analysis can reveal the reason and rate of user loss and help the platform discover and solve the problem of user loss. iGaming platforms can increase user retention by optimizing user experience and launching targeted promotions.
- Risk management: Gambling platforms face certain risks, such as abnormal betting. Data analysis can help the platform discover and respond to these risks on time, ensuring the platform's security and stable operation.
- Support decision-making: Operators can obtain key operating indicators and data reports through data analysis, which can help iGaming platforms formulate strategies and decisions and achieve profitability and business growth goals.
Big data, combined with AI through psychological analysis, helps iGaming platforms achieve more effective marketing. Big data AI, psychology, and data analysis: How to connect this together? There seems to be no way to do it, so don’t worry, all iGaming bosses. Before discussing this topic, the editor will tell a story about data. This may make it easier to understand how psychology manipulates individual behavior.
Psychology swayed the presidential election
There is a company called SCL, established in 1990 to provide psychological counseling for war. This company has a subsidiary company called Cambridge Analytica. It changes the general election outcome by collecting data, analyzing the crowd, and influencing crowd behavior.
The data mainly comes from a set of Openness analysis data of Facebook and also helped the United States and the United Kingdom participate in the war in Afghanistan. The so-called war psychological counseling shows that it uses some psychological methods to influence the battlefield, which is called "Psyop/psychological warfare" for short, but it has a big role in elections. There are elections in various countries, so SCL participates in the elections of various countries as a political consultant.
For example, Thailand, Argentina, Todo, India, Malaysia, and Italy all have SCL presence. By 2013, there was an article published by a professor and students of Cambridge University. It means using a third-party APP to conduct a questionnaire on FB and collect 56,000 pieces of data in 6 years. Some simple information, such as likes, reposts, and comments, can reflect the user's great personality characteristics. Up to 88% can determine the user's sexual orientation. 95% can determine the race of the user. 85% can tell which party you support. Of course, there are other personality traits of the user.
How did he use data to change voter behavior? The simple three-step process is to acquire data, analyze data, and change behavior. First of all, through FB questionnaires, a large amount of user data and FB user data can also be collected through the FB friend function (this is the data leakage incident that FB was excited about at the time). They collected 50 million user data through FB for the platform at that time.
The second step is to analyze the data. For example, most users who like cute cartoon images such as hello kitty are extroverted, emotionally stable, responsible, and caring. Either way, it is possible to lean towards a certain party. At the same time, it is possible to be a young man because some analysis professionals like this do a set of analysis programs called "OCEAN/Five-Dimensional Personality Analysis Method" to evaluate the user's personality characteristics in big data through this set of methods.
The third step is to change user behavior. After data analysis, it will start participating in various countries' elections and influence election results by changing behavior. Some gossips say that they joined Trump’s election team then, but this is just gossip.
But SCL has a very successful case. Trinidad and Tobago is a country at the southeastern tip of the Caribbean Islands. From 2009 to 2010, there were mainly two factions, Indians and blacks. At that time, SCL was helping the Indian faction. Through data analysis, it planned to use young people as a breakthrough and launched a campaign called "DO SO," which means "Don't Vote." This also caters to young people's age group and mentality, so a rebellious trend has formed in the circle of young people. Many people promote it on social media to encourage young people not to vote.
In addition, black families are relatively free and will not interfere with their children's behavior too much, especially in elections. But because of family education culture and other reasons, the Indian faction would let their own children vote. As a result, black children did not vote. The Indian faction voted under the supervision of the family, and the result can be imagined. Among the 18-35 young people at that time, the Indian faction turned around by 40%. The Indian support increased by 6%.
This story is used in TC-GAMING’s short article. The main purpose is to explain that through data analysis, user characteristics can be obtained, and at the same time, marketing activities may be changed into user behavior. White label’s iGaming system can help iGaming platforms collect and organize massive user data through big data analysis, including user behavior, preferences, betting records, and other information.
AI can automatically process and learn these data and dig out hidden patterns and laws from them, at the same time in the role of combining psychology. Help iGaming platforms understand users' psychological needs and behavioral motivations so as better to understand users' decision-making process and betting behavior.
For example, psychology can help analyze under which circumstances users are more inclined to bet, under which rewards are more likely to produce pleasure and satisfaction, and which factors may cause users' mood swings. It can be found that certain types of users are more inclined to place bets during a specific time period, such as users who like to place bets on weekend nights. Combined with psychological analysis, it is possible to gain insight into how these users may be seeking entertainment and relaxation on weekends due to the stress and fatigue of the workday.
Therefore, special offers on weekends can be targeted to attract such users to bet. In addition, big data and AI can also monitor user behavior and feedback in real-time, such as user clicks and stay time on the platform, as well as user reactions to different activities and products. Gambling platforms can design marketing activities and preferential strategies in a more targeted manner to meet the psychological needs of users and enhance user stickiness.
Therefore, in white label's iGaming system, the four elements of big data, AI intelligence, psychology, and data analysis, can be organically combined to provide iGaming platforms with deeper and more comprehensive data analysis and insight capabilities. It helps iGaming platforms better understand users, conduct marketing and promotion more effectively, and tap users’ psychological needs and behavior patterns.
This set of data analysis will become the core highlight and competitiveness of white label, which can more effectively help iGaming platforms realize personalized and precise marketing strategies, improve user satisfaction and loyalty, and then achieve continuous business growth and profitability of iGaming platforms.
In the future iGaming industry, the white label iGaming system that combines VR metaverse iGaming experience and AI intelligent betting analysis will bring huge changes and advantages to the iGaming platform. This will become the biggest core value and competitiveness of the network iGaming system and open up a new world for the online iGaming industry. Using VR Metaverse iGaming experience technology, players will be immersed in an immersive iGaming world.
At the same time, AI smart betting analysis technology will provide players with more accurate betting suggestions and forecast results, making the iGaming platform more intelligent and personalized. AI intelligent user data analysis will greatly change user behavior and marketing methods. Maximize the profit rate of the iGaming platform. The network iGaming system with these innovative technologies will bring a more attractive iGaming experience to the iGaming platform and, at the same time, create greater commercial value for the iGaming platform. With the continuous evolution and integration of technology, the iGaming industry will usher in a more prosperous and innovative era in the future.