Igaming and lottery operators may work under the same umbrella, and may share some similar traits, but there are also a few stark differences between the markets.
Bede Gaming’s Chief Strategy Officer (CS), Alistair Boston-Smith, delved into how he views the differences between the igaming and lottery sectors and how the maturity of the latter has made it the “biggest part” of both sectors.
“Lotteries is actually the biggest part, by financial value, of the whole sector. Having worked in the sector for 15/20 years, I’m aware of the different levels of maturity and different starting points between lottery and the gaming sector,” expressed Boston-Smith.
“Lotteries are different in many cases. Their ownership structure is linked to the government, so they have a different group of stakeholders and their role and their focuses are quite different.
“But Lotteries are coming, there is an alignment and synergy between land-based casino space and lotteries. Their core business, a large proportion of customers, are coming through retail journeys.”
The Bede Gaming CSO identifies the changing regulatory landscape as a determining factor as to how rapidly operators of either sector can expand as legalities differ geographically in what Boston-Smith has defined the regulations as a lot more “circumspect”.
One of those regulated markets, Ontario, opened its arms to gaming and betting operators last April and Boston-Smith was quizzed on how he viewed the growth of the market which was once, before its regulation, a “huge grey market”.
He explains: “At that time, operators were able to provide a full product offering because they weren’t subject to any of the restrictions of the regulation. They could therefore offer attractive bonuses and incentives that weren’t being taxed so they weren’t providing money back to Ontario.
“The regulation of the market is a really good thing. It provides a much better base for an even playing field. Obviously there has and is a lot of interest and excitement about Ontario, I think today there is probably upwards of 20, possibly 30 operators have now got licensed in the market.”
Boston-Smith also speaks on Bede Gaming’s operations in Europe, working alongside Gausellman, and opportunities to expand the gaming firm globally.