The 3 members of the Yggdrasil company organised a discussion panel in Malta. They also had the representatives of 3 other gambling brands:
- 4ThePlayer;
- Bang Bang Games;
- Jelly Entertainment.
The specialists talked a lot about methods of going through fierce competition in the entertainment market. They touched on such topics as the importance of quality, distinguishing a brand from others, content saturation in the industry, etc.
Significance of Cooperation
The amusement segment generates lots of diverse games each month. It makes the task to stand out more challenging for gambling entrepreneurs. That is why it is vital to build long-term relationships with the sector’s top companies and confirm a strong reputation. It can take time but pours into great results.
For small gaming studios, communication is even more important since they do not have large budgets or a high speed of content delivery.
Thus, these companies rely on such aspects:
- the quality of their releases;
- direct interaction with other brands.
The relationships between both sides must be transparent and mutually beneficial for long-term cooperation. This is not something that can be forced or faked, as the panel experts said. Companies that focus on quantity may win in the short term but lose a lot during the next stages.
Importance of Balance and Content Quality
The specialists emphasised the significance of reaching a harmony between creativity and catering to the audience’s needs. Some brands focus mainly on innovations, forgetting about the necessity to align with player demands. And there is the third side — complexity. When not balanced correctly, these aspects can seriously limit a company's earnings and prospects.
To make it through, developers should provide content with such elements:
- relevant themes, mechanics, design and other components for gamblers;
- innovations that are partially familiar to the users and introduced gradually;
- clear and simple functionality so that players can quickly learn new rules, etc.
The gaming companies' representatives said that they aim to elaborate products with top quality as it is vital in the industry. This is a reliable way to stand out from the competition.
The specialists claim that the market is not as saturated as many people think, though. It is hard for small studios to make both frequent and quality releases to enter the real competition. Additionally, they do not have partner support yet. Here, the importance of building a decent brand pops up. Young companies should interest people by offering uniqueness.
In the game development segment, it is all about not only the creation process itself but also promotion and content. In the end, there are dozens of great slots which are not popular just because people never heard of them.
Gambling Regulation: Increasing Requirements
Many nuances and elements in games can and must be changed to align with the rules of a specific market. For instance, if a development team creates a slot with a 5-tier bonus for the UK and then removes the feature for another region, the product can lose its highlight. The solution will not be so profitable and in demand.
The panel spokespeople said that recent changes in regulations throughout the world altered the industry’s landscape and dynamic. In the next few years, new standards and rules can become very challenging for the sphere’s participants. The experts think that some regulations are going too far.
Harsh restrictions, burdensome control and excessive demands can cause the following:
- Local shareholders would find the conditions unbeneficial and start searching for alternatives.
- Entrepreneurs would begin to withdraw their assets from the disadvantageous region or even completely stop local operations.
- The market would become smaller and weaker, losing its strong brands and honest players.
- To survive, the industry would need to come up with new methods of attracting potential partners or raising taxes.
- The whole situation can end in even stricter work terms and accelerate the outflow of audiences and prestigious companies.
However, Yggdrasil’s representatives ensured they were on the regulators' side because the industry needs to be supervised. It is just that the rules should be fair and beneficial for all parties. The specialists want to provide protected and enjoyable experiences for the clients. The company’s members are ready to contribute to ensuring a transparently regulated environment.
Cost Issues
The spokespeople emphasised that gambling is not the sphere where entrepreneurs should economise. Such an approach can end up in quality loss. Some businessmen try to lower their prices to attract more clients. However, this is rather a short-term strategy, which can cause many problems in the long run. It is better to invest in bigger and more expensive projects and solutions because they can last several times longer and bring higher profits.
The development costs are usually extensive. Licensing takes a lot of resources as well. Sometimes, to present a certified game in several jurisdictions, content creators spend as much money as for the whole elaboration process. Many brands see this as a severe challenge. Revenues are also substantial, though.
You can order profitable software from renowned providers, such as Yggdrasil, at the Casino Market aggregator. Additionally, we offer game development services. Feel free to contact us and learn a whole list of our business products and services.
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