Operator talk: Can cash-out get the money flowing for slots?

Operator talk: Can cash-out get the money flowing for slots?

Monday, September 28, 2015 Totally Gaming
Bernard Marantelli said that Colossus Bets is ahead of the game in cash-out technology

Colossus Gaming chief executive Bernard Marantelli believes that partial cash-out will soon become just as much of a standard offer in the slots vertical as it is in sports books.

Marantelli was speaking to TotallyGaming.com as the pool betting specialist announced the launch of the first partial cash-out within a slot game, and its own first foray into casino. ‘Fracpot’ was described as “a landmark disruptive slot” after its release through Colossus and partners Sky Vegas and software developer CORE Gaming.

Colossus also led the way by introducing partial cash-out within sports betting back in 2013 – two years before most of the industry – and Marantelli said that it is his company’s vision that has allowed it to become a pioneer.

“This has come from the fact that we are mathematicians and gamblers and view and calculate the value or equity of everything,” he said. “We look at risk entirely differently from the operator side of the fence.

“We were years ahead of the competition in enabling a feature that lets all gamblers view the value of their bets and cash it out, and while they don’t fully realise the complexity of the value calculation, they are rapidly embracing the feature according to data from Betfair, William Hill and Bet365. They are all replicating us now, but it takes them time.”

While a £1m (€1.36m/$1.52m) jackpot will entice many players to ‘Fracpot’, Justin Chamberlain, chief executive of CORE Gaming, said that “slots have lacked real innovation for some time and become a battle of the brands. This Colossus ‘Fracpot’ slot represents real innovation and as a result the interest from operators has been huge”.

Marantelli, who founded Colossus in 2012, was similarly assured that the game will be a huge success, although noted different levels of caution from different sectors.

He said: “In terms of the slots product, we have four games in development and sportsbook operators have been clamouring for it, as they know the power of partial-cash-out in their space. Pure casino operators have kept more of a watching brief, but that is about to change.

“Partial-cash-out is now an industry must have standard for sportsbook operators, the same will happen with slots.

“The feature is engaging and can be offered in a game and even ‘turned off’ by choice by players that don’t want it. There is only upside by adding this feature to a slot for the vast majority that will embrace and use it.”

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