iGaming needs to offer 'Hollywood' story for aspirational gamblers – Kruse

iGaming needs to offer 'Hollywood' story for aspirational gamblers – Kruse

Tuesday, October 21, 2014 Totally Gaming

The iGaming industry needs to make gamblers feel like they are in a Hollywood story in order to tap into personal aspirations and the increasing convergence with the gaming sector, according to Martin Kruse, a senior executive adviser at the Copenhagen Institute for Future Studies (CIFS).

In an entertaining presentation that touched on various issues, including virtual reality, virtual currency and poker, Kruse told attendees on the first day of EiG (Excellence in iGaming) 2014 in Berlin of how they can prepare for the uncertainties of future technological disruption.

“Increasingly the gambling industry needs to work like Hollywood to build a storyline for people so they think it's not just about money but also transformational,” Kruse said today (Tuesday).

“We are seeing a lot of change from the players outside the market in this regard.

“They realise that the social element is becoming the bigger thing, and it’s not just about money – it’s about social interaction.

“Gambling can make you feel like ‘the man’ if you win, and can also provide escapism from a bad job, for example. This sort of ‘wanna be’ market will increase, even over the next two years.”

To underline his point, Kruse highlighted the link between a person’s basic psychological needs and how those personality traits can be enhanced by gambling.

“The challenge is how we monetise this sort of social gambling and how the industry gets scale on this,” he added.

Throughout his presentation, Kruse underlined the need for the industry to focus on the players or gamblers and their behaviours and traits.

“As an industry we have this notion of offline and online, but people don't think like that at all,” he added. “Both are actually merged in a space called ‘inline’ and compartmentalising these areas does not really represent the reality, even though it can make different departments easier to manage.”

When attempting to anticipate the future of iGaming, Kruse noted that technological disruption is “very hard to predict”.

However, he does anticipate greater convergence in the value chain, technology, production, payment methods and gambling and gaming coming closer together. He also believes that customers will become increasingly “empowered” by the shift of technological innovations.

“The question is, is technological disruption a threat to your business model? It is very difficult to predict the future, but we know that it will not be like the present,” Kruse added.

“In many ways the gambling industry has not changed very much, but a lot of technology is coming in and will change the sector.”

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