India’s gaming industry is experiencing an unprecedented boom, becoming a powerhouse in the global digital entertainment arena. With a staggering user base of 568 million gamers and over 9.5 billion gaming app downloads in 2023, India is not just playing games; it’s setting records.

At the heart of this growth is the mobile-first phenomenon. Mobile gaming accounts for 90 percent of the industry in India, dwarfing the figures of 37 percent and 62 percent in the US and China, respectively. This shift is driven by the widespread availability of affordable smartphones and the increasing penetration of high-speed internet, even in rural areas.

The gaming landscape in India is diversifying. The introduction of vernacular languages and Indian themes in games is tapping into the non-English speaking population, further expanding the market. This inclusivity is not just about language; it’s about reflecting the rich tapestry of Indian culture in the digital world.

It is also worth noting that women constitute approximately 40 percent of the gaming populace in India, showcasing a significant shift from just three years ago when only one in five gamers was a woman. This demographic leans towards casual and hypercasual gaming experiences, indicating a broader acceptance and integration of gaming into daily life. About 20 percent of Indian gamers are paying users, with a preference for pay-to-play, casual, and core games. In-app purchases are projected to grow at a 35 percent CAGR, highlighting the potential for revenue generation within the sector.

As the gaming industry flourishes, Artificial Intelligence (AI) in India is no doubt playing a pivotal role. AI is not only enhancing gaming experiences with smarter, more responsive gameplay but also powering up the development process. Through research and innovation, AI is enabling personalized content, predictive analytics for user behavior, and efficient game testing. India’s gaming industry, powered by AI, is poised for continued growth, transforming the country into a global gaming hub. The fusion of technology, culture, and innovation is creating a digital playground where the possibilities are as limitless as the imagination.

In a dynamic interview with SiGMA News, Andrew Foster, Chief Business Officer of Enteractive, unveils the innovative strategies employed by Enteractive to revolutionise player reactivation. From emphasising responsible gaming to leveraging cultural nuances, Enteractive's Reactivation Cloud is reshaping the gaming landscape globally.

Andrew Foster provides insight into Enteractive's mission to reactivate and activate players at scale across the globe. With a focus on dormant players, Enteractive aims to generate additional revenue for operators by leveraging its Reactivation Cloud.

Foster also delves into Enteractive's commitment to responsible gaming, highlighting its integration into the company's services. By engaging in unscripted conversations with players, Enteractive's team can identify signs of responsible gaming issues and relay them to operators in real-time, aligning with industry standards and regulations.

Enteractive's approach to cultural sensitivity is paramount. Foster explains how the company employs native speakers from similar backgrounds as players to establish genuine connections. Through personalised interactions, Enteractive ensures players feel valued and understood, regardless of their cultural or ideological differences.

Foster reflects on the evolving gaming landscape, predicting a shift towards increased personalisation driven by advancements in AI. He emphasises the importance of understanding player needs across different age groups and adapting strategies accordingly to foster loyalty and success.

Foster identifies Enteractive's key success factors, emphasising the company's focus on genuine human connection in an increasingly digital world. By prioritising personalised communication and VIP treatment at scale, Enteractive continues to thrive in the global gaming industry.

Enteractive's global reach is complemented by its localised approach. Foster highlights the importance of providing VIP-level service to mass databases, offering reactivation and activation solutions tailored to individual players' needs on a global scale.

During the COVID-19 pandemic, Enteractive experienced a significant increase in business, attributed to players having more time to engage with gaming activities. While the exact reasons behind this surge remain unclear, Enteractive's dedication to fostering meaningful connections with players remained steadfast.

Andrew Foster's insights shed light on Enteractive's commitment to reshaping the gaming industry through responsible gaming practices, cultural sensitivity, and personalised player engagement. As Enteractive continues to expand its global footprint, its focus on authenticity and human connection remains at the forefront of its success.

Establishing itself as a major player in the new era of gaming with crypto rewards, Earn Alliance, a crypto game aggregator with over 400,000 users, is making waves in the gaming industry.

With a user-friendly interface reminiscent of Netflix and a vast library of over 2,600 aggregated games, Earn Alliance is simplifying the process of discovering crypto and NFT games across all chains. The company is not just content with catering to the existing crypto gaming community. It has set its sights on a new demographic - traditional gamers. A new feature launched by Earn Alliance allows gamers to connect their accounts from major PC gaming marketplaces like Steam and Epic Games Store, as well as the gaming chat app Discord.

This feature is designed to help players find crypto games that align with their interests, while also assisting developers in finding players who might be more inclined to play their particular game. The crypto gaming space is relatively small compared to the broader “Web2” gaming market. While on-chain data is a crucial aspect of most blockchain applications, Earn Alliance founder Joseph Cooper, (in photo above), believes that there’s a wealth of off-chain data that isn’t being utilized to help market and target crypto games.

“We wanted to get game data in a nice way,” he said. “We don’t want to just take your data—we want to pay you in tokens, to exchange it.”

Connecting your PC gaming accounts to Earn Alliance could reveal your gaming preferences, such as a penchant for first-person shooters or role-playing games. This information helps game developers, who pay Earn Alliance, to better target players. Ideally, it also provide the player with a more appealing selection of game suggestions. But there’s more to it than just connecting user accounts.

Earn Alliance is also launching an airdrop campaign. Taking inspiration from leading NFT marketplace Blur, Earn Alliance is distributing care package-style drops based on your gaming history and how you interact with games on the platform.

Starting on 28 March, users will be able to open these drops and claim ALLY tokens when the airdrop officially begins.

There’s also an incentive to stay active on the platform. Each care package can be enhanced with “upgrade tickets” earned by interacting with games on Earn Alliance, completing daily quests, and participating in promotions. Referring other users also boosts your airdrop allocation.

In essence, it pays to play when it comes to the ALLY token airdrop. Cooper sees this as a repeat of the Facebook gaming era, where players could bring in their friends to unlock benefits. He believes that this model will thrive in the Web3 world, with the added bonus of earning crypto for referrals.

As Earn Alliance continues to innovate and bridge the gap between traditional and crypto gaming, it’s clear that the future of gaming is here, and it’s rewarding players in more ways than one.

————-Stop Press: The next SiGMA Africa Summit takes place in Cape Town between 11-13 March !  SiGMA Africa event kicks off in Cape Town, South Africa on the 11 March. Building on the success of its inaugural edition in Nairobi, Kenya, in January 2023, SiGMA Group recognizes the need to foster collaboration and innovation within the industry.

Shiba Inu, a prominent player in the crypto world, is being accepted by an increasing number of casinos as a payment method, marking a revolutionary change in the online casino landscape with the advent of cryptocurrencies. This transformation is further propelled by the rise of crypto casinos, which are gaining popularity for their security, transparency, and convenience, as they allow transactions using digital currencies like Bitcoin, Ethereum, and of course Shiba Inu.

These crypto casinos offer a wide variety of benefits to players, including anonymous accounts, fast payouts, and huge bonuses. The surge in cryptocurrency popularity has spurred the establishment of crypto casinos, and now, various casino sites have begun to accept a range of cryptocurrency payments for deposits, further expanding the possibilities for players in the iGaming world.

The rising trend of Shiba Inu gambling platforms is, without a doubt, sparking a fierce rivalry among operators. These casinos present players with the opportunity to wager Shiba Inu across a vast array of games, encompassing everything from blackjack and roulette to slots and sports betting. Notable Shiba Inu casinos such as Lucky Block, Mega Dice, and BC.Game, which are among the highest-rated crypto casinos, support SHIB along with other cryptocurrencies. These platforms provide a diverse selection of games, enticing bonuses, and prompt payouts, enhancing the overall gaming experience.

The advent of crypto casinos marks a significant milestone in the evolution of the online gambling industry. With cryptocurrencies like Shiba Inu at the forefront, the future of online gambling appears more thrilling than ever. As we continue to observe the growth and evolution of this industry, one thing is clear - crypto casinos are here to stay, and they are poised to transform the online gambling landscape.

Shiba Inu is not only making a significant impact in the crypto casino world but also in the wider blockchain community with its latest Non-Fungible Token (NFT) initiative, SHEboshis. The SHEboshis utilize the DN-404 standard, merging the capabilities of ERC-20 and ERC-721, and effectively uniting the realms of fungible and non-fungible tokens. This innovative approach introduces new possibilities for ownership and trading, enhancing the crypto landscape with increased liquidity and potential for fractional ownership.

The emergence of crypto casinos and the acceptance of cryptocurrencies like Shiba Inu in the gambling world indicate a transition towards a more decentralized and transparent gambling industry. As an increasing number of casinos begin to accept cryptocurrencies, players can anticipate a more secure and seamless gambling experience. However, like any emerging technology, there are hurdles to overcome. Regulatory challenges, market volatility, and the need for robust technological infrastructure are some of the obstacles that crypto casinos need to navigate.

Despite these challenges, the potential advantages of crypto casinos make them a promising development for the future of online gambling.

————-Stop Press: the next SiGMA Eurasia Summit takes place in Dubai between 25 – 27 February. The next SiGMA Africa Summit takes place in Cape Town between 11-13 March ! The fourth edition of SiGMA Eurasia will once again be held at the InterContinental Dubai Festival City. Held between the 25 and 27 February 2024, the summit provides invaluable networking opportunities for industry professionals, gain exposure to the latest tech and innovations in the sector, meet key decision makers, and gain insight into new markets. SiGMA Africa event kicks off in Cape Town, South Africa on the 11 March. Building on the success of its inaugural edition in Nairobi, Kenya, in January 2023, SiGMA Group recognizes the need to foster collaboration and innovation within the industry.

The Internet of Things (IoT) is transforming the iGaming industry by enhancing user experience and enabling more personalized services. IoT allows online players to play simultaneously with brick-and-mortar casino players by connecting them via the internet. It also enables greater personalization by collecting more analytical data on individual players. As a result, an operator can create a customized space full of games, themes, and offers that are specially tailored to players across all its connected devices.

Professor Alexei Dingli speaking with SiGMA News explained that today's immersive technologies such as VR and AR are revolutionising iGaming experiences. "Advanced headsets like Apple Vision Pro and Quest 3", he says, "are not just tools but gateways to new realms of interaction". He shared his insights about how they are transforming everything, from how we learn, work and play and merging the physical and digital worlds.

Dingli described how the transformation in sports and iGaming, driven by technological advancements, is indeed also making a profound impact on sports betting. This includes changes in the structure of betting activities, the emergence of new forms of fraud, and the development of AI tools to mitigate these risks."

In the context of the feud between Mark Zuckerberg and Apple over VR sets, the implications of IoT on iGaming become even more significant. Zuckerberg, the CEO of Meta, has been vocal about his belief that Meta’s Quest 3 VR headset is superior to Apple’s Vision Pro. He argues that the Quest 3, as an indirect competitor to the Vision Pro, is “seven times less expensive” and better suited for mobile use cases like gaming and fitness.

This rivalry highlights the potential of IoT in enhancing the gaming experience. For instance, the Quest 3’s passthrough feature, which uses cameras on the outside of the headset to provide users with a live, high-definition video feed of their surroundings, allows users to wear a headset while walking or exercising. This kind of immersive experience, enabled by IoT, could be a game-changer in the iGaming industry.

However, it’s important to note that while IoT brings numerous benefits, it also presents challenges such as data security and privacy concerns. Therefore, as the iGaming industry continues to leverage IoT, it must also invest in robust security measures to protect users’ data and privacy.

The integration of Artificial Intelligence (AI) in Augmented Reality (AR) and Virtual Reality (VR) gaming technologies is revolutionizing the iGaming industry. AI and machine learning technologies are enhancing the gaming experience by personalizing games and preventing cheating. They streamline the VR gaming experience, making it more immersive and interactive.

Advancements suggest that the integration of IoT and VR in iGaming will continue to evolve, offering more immersive and personalized gaming experiences in the future.

High-fidelity graphics and advanced haptics are blurring the boundaries between reality and fiction. High-fidelity graphics provide a high level of photo-realism, enhancing the gaming experience. Advanced haptics allow users to interact with the digital world through tactile feedback and sensations.

Eye and motion tracking technologies are improving the gaming experience. Eye tracking technology streamlines weapon aiming, menu selection, and triggering in-game events with a glance. Fine-tuned motion tracking improves the accuracy, speed, and sensitivity of tracking using better sensor technology and advanced algorithms.

Spatial audio is enhancing the immersive experience of the game. The sound is three-dimensional, improving the game’s storytelling with sounds rather than words.

Beyond iGaming, VR technology is proving to be helpful in various aspects of every other industry, for example, in healthcare. It allows professionals to connect with each other from remote locations. VR headgear provides a complete 3D environment to teach students and has helped many physically challenged students attend classes. In manufacturing plants, a combination of both AR and VR is used to increase the efficiency of the assembly lines and reduce cycle time. This shows the potential of these technologies beyond gaming, indicating a promising future for IoT and VR in various industries.

Professor Dingli pointed out that as we embrace this new era, "we realise the future is here, and it is virtual".

In the rapidly evolving world of technology, competition is fierce and relentless. Mark Zuckerberg, took a direct swipe at Apple’s new headset.

The Vision Pro has been making waves in the tech industry, with celebrities like Diplo and T-Pain seen wearing it in public. Its “passthrough” feature, which allows users to see their surroundings while using the headset, has been particularly praised. However, Zuckerberg, in a video shot using Meta’s own Quest 3’s passthrough, insisted that his company’s headset is “the best product, period.”

Passthrough is a feature used by the most recent mixed reality headsets. It utilizes cameras on the outside of the headset to provide users with a live, high-definition video feed of their surroundings. This allows users to wear a headset while walking or exercising. Meta has been working on this technology for the better part of a decade, and it also features on rival products such as Sony’s PlayStation VR 2.

Zuckerberg expressed frustration that the Vision Pro is being praised over technology that exists elsewhere. He stated, “I think Quest is the better product, period.” He went on to express surprise that many people assumed that the Vision Pro would be of higher quality simply because it’s an Apple product and costs $3,000 more. He argued that the Quest is superior for the majority of things that people use these headsets for, despite the price differential.

Several people have started to post on social media about returning their Apple headsets. Product manager Parker Ortolani praised the device but said the “physical trade-offs are just not worth it.” This sentiment seems to echo Zuckerberg’s critique of the Vision Pro.

Zuckerberg spent much of his time during the video clip trying to point out why the Quest 3 was better, citing reasons ranging from the ability to move around easily without a cable, socializing, and above all, the difference in price. He stated, “I expected that Quest would be the better value for most people since it’s really good and it’s like seven times less expensive.”

He also insisted that the Quest 3 had a wider field of view and a brighter screen. While he acknowledged that the Vision Pro had some advantages, such as a higher resolution, he was “surprised by how many trade-offs they had to make” in other areas to achieve it.

It came as a surprise to many when Zuckerberg directly criticized “fanboys” who “get upset whenever anyone dares to question if Apple’s going to be the leader” in a type of technology. He argued that every generation of computing has an open and a closed model, referring to how Apple controls what can and can’t be installed on its devices.

This feud between Meta and Apple highlights the intense competition in the tech industry. As companies strive to outdo each other, consumers stand to benefit from the resulting innovation and advancement in technology.

SiGMA News spoke with Professor Alexei Dingli about the significant impact of IoT on the iGaming Industry. He is a global expert in artificial intelligence and highlights the role of sophisticated AI fraud detection tells in mitigating risks associated with online gaming.

Stop Press: the next SiGMA Eurasia Summit takes place in Dubai between 25 – 27 February. The next SiGMA Africa Summit takes place in Cape Town between 11-13 March !

The fourth edition of SiGMA Eurasia will once again be held at the InterContinental Dubai Festival City. Held between the 25 and 27 February 2024, the summit provides invaluable networking opportunities for industry professionals, gain exposure to the latest tech and innovations in the sector, meet key decision makers, and gain insight into new markets. 

SiGMA Africa event kicks off in Cape Town, South Africa on the 11 March. Building on the success of its inaugural edition in Nairobi, Kenya, in January 2023, SiGMA Group recognizes the need to foster collaboration and innovation within the industry.

The gaming industry is undergoing a significant transformation. Traditional gaming, once the undisputed leader of the sector, is facing challenges from an unexpected quarter - Web3 gaming. The latter, powered by blockchain technology, is not just surviving but thriving, showing a bullish growth of 33 percent in Q4 alone.

Traditional gaming, on the other hand, is challenged with market saturation and dwindling user numbers. The situation is further exacerbated by regulatory challenges, such as China’s recent draft rules to curb spending and rewards in video games. This move led to a staggering $80 billion loss in market value for top gaming giants.

In response to these challenges, traditional gaming studios are exploring new ways to attract and retain users. The answer, it seems, lies in the decentralized models of Web3.

Web3 gaming offers a host of benefits that traditional gaming simply cannot match. For instance, game developers can avoid intense competition in popular categories and more easily acquire gamers in a less crowded landscape. Blockchain gaming also boasts community-driven user acquisition methods beyond traditional advertising, such as airdrops and in-game assets.

Moreover, Web3 games allow developers to sidestep policy restriction issues in some countries. This is a significant advantage, given the increasing regulatory scrutiny in the traditional gaming sector.

But the benefits of Web3 gaming extend beyond the developers. Players, too, stand to gain from this shift. In the Web3 world, games create and oversee entire online economies, and players can earn digital assets from playing blockchain games. They can aggregate, control, and monetize their identity. Beyond play-to-earn, gamers can earn passive income by sharing their information with titles and participating in brand interactions.

The future of gaming lies in Web3. As traditional gaming continues to grapple with market saturation and regulatory challenges, Web3 gaming is poised to take centre stage. With its unique benefits for both developers and players, it’s not just a viable alternative to traditional gaming - it’s the next big thing in the gaming industry.

Stop Press: the next SiGMA Eurasia Summit takes place in Dubai between 25 – 27 February!

The next SiGMA Africa Summit takes place in Cape Town between 11-13 March !

Treasure, a crypto gaming ecosystem, has made a significant decision to double down on its commitment to Arbitrum, despite receiving proposals from Optimism, zkSync, and SKALE teams to migrate to another Ethereum scaling network. Built on Arbitrum, Treasure currently spans 15 games and has announced plans to launch a Treasure Chain built on Arbitrum. This chain will use its existing MAGIC token to pay for gas and will feature a web of “Infinity Chains” that can power the various games being built around Treasure.

The proposed plan, which is yet to be approved by Treasure’s DAO, involves Arbitrum developer Offchain Labs building out the Treasure Chain. This custom Ethereum layer-2 scaling network will then enable game creators to deploy their own layer-3 Infinity Chains that orbit it. Karel Vuong, co-founder of Treasure, explained that this is an evolution of their vision at Treasure, with the history of being one of the earliest projects to build on Arbitrum. The natural next step for them was to launch towards their own chain, with the ambition to build a gaming and entertainment powerhouse that’s built and owned by everyone.

While other games like Pixels, Pirate Nation, and Crypto Unicorns have hopped chains or made plans to do so in recent months, Treasure decided to stick with Arbitrum. Vuong pointed out the deficiencies they saw with rival proposals, whether it’s the technical makeup (in the case of Optimism) or a perceived lack of traction with users (as with zkSync). Arbitrum has specific functionality that Treasure needs, and they’ve built up a user base in that ecosystem. Furthermore, Treasure and Offchain Labs already have a bond, having been in the trenches together since the days where Arbitrum gaming was in its infancy.

Treasure’s rise helped kick-start the evolution of Arbitrum from being seen as a DeFi-focused environment to a platform for gaming. With a growing list of games including The Beacon, Mighty Action Heroes, and Kaiju Cards, Treasure has played a significant role in this shift. More recently, Arbitrum has seen the rise of Xai, a layer-3 gaming chain that held an airdrop in January and will begin rolling out games in the coming months.

Vuong and A.J. Warner, Chief Strategy Officer at Offchain Labs, both see potential for interoperability and collaboration across the Arbitrum gaming space. However, they’re still looking at the best ways to do it securely without compromising, as bridges between chains tend to be susceptible to attacks, as seen with the Ronin Network’s $622 million bridge exploit in 2022.

In conclusion, Treasure’s commitment to Arbitrum and its plans to launch a Treasure Chain built on Arbitrum signify a significant step in the evolution of the crypto gaming ecosystem. It not only underscores the potential of Arbitrum as a platform for gaming but also highlights the innovative approaches being taken to power Ethereum games with ‘Infinity Chains’.

Stop Press: the next Eurasia Summit takes place in Dubai between 25 – 27 February!

In a recent interview with SiGMA News, Alexander Aukhariev, an expert in the payment industry, shared his insights on the future of online payments. He discussed key trends, the impact of technology, and the role of security in shaping the industry. Here are the highlights from the enlightening discussion:

What key trends can we anticipate in the online payments landscape for 2024?

Alexander Aukhariev: Over recent years, we’ve witnessed a significant expansion in online payment methods. As we look ahead to 2024, several pivotal trends are emerging that are set to shape the future of the payments industry. During this interview, we will explore into these transformative trends and discuss their potential impact.

What advantages does Payment Center provide to its merchants in the context of diverse card payment methods?

Alexander Aukhariev: Our company has been at the forefront of these methods for over a decade. As times change, every country is developing its own payment systems and local methods, such as QR codes (Pix, UnionPay, Uzcard, Mir, to name a few). The execution of online payments from a card issued in one country on a merchant’s website in another country is becoming increasingly complex. To address this, Payment Center has implemented numerous integrations with various banks across the globe. This allows our merchants to accept payments from a wide range of cards, not limited to just Visa or Mastercard.

What new opportunities do payment systems offer, particularly those based on the synergy of mobile phones, operating systems, and banks?

Alexander Aukhariev: The next stage is the synergy between mobile phones/operating systems and banks, which creates payment systems such as Google Pay, Apple Pay, AliPay, etc. They keep expanding their functional capabilities, including integration with loyalty programs and financial services, as well as integration with mobile operators, enabling the use of mobile phone balances for buying goods and services.

What role does tokenization play in securing payments, and how does it influence the payment process?

Alexander Aukhariev: Tokenization is a crucial aspect of payment development. It enhances the security of payment data during transactions by replacing the original payment information with a unique token. This token is generated and stored securely using advanced encryption algorithms and methods. The beauty of tokenization is that the same token can be reused multiple times, eliminating the need to recollect confidential payment data. This not only simplifies the payment process but also ensures robust security.

What new opportunities does Open Banking present in the context of instant payments?

Alexander Aukhariev: Payment Center provides partners with the most sought-after APMs and integrations with alternative payment systems. The advent of banking APIs under the PSD2 (Payment Services Directive 2) initiatives in Europe has enabled us at Payment Center to broaden our integration with banks, fintech companies, and merchants. Open Banking, a form of instant payment, facilitates real-time payments (RTP) and significantly enhances both the speed of payments and conversion rates.

What contributions are cryptocurrencies making to the evolution of the payment industry?

Alexander Aukhariev: Cryptocurrencies are playing an increasingly significant role in the payment industry, with the volume of crypto-based payments growing year on year. At Payment Center, we strive to stay ahead of these trends. As such, we have implemented our own Payment Gateway, Defexa, which allows for the storage, exchange, and payment with cryptocurrencies within our interface, thereby significantly broadening our payment capabilities.

What benefits do digital wallets offer as a unified platform for all types of payments and currencies, and what changes are we seeing in this space?

Alexander Aukhariev: Digital wallets offer the convenience of accessing various payment methods in one place. This makes it easy to pay for goods and services with just a few clicks, switching between banks, payment methods, and even combining fiat, crypto, or stablecoins. As a unified platform for all types of payments and currencies, digital wallets seamlessly integrate cryptocurrencies into all payment methods. They are poised to transition to universal payment methods in the future, accommodating both crypto and fiat currencies. In light of business globalization and the rise of cross-border e-commerce, improving and reducing the cost of international payments has become a priority. Consequently, we at Payment Center provide our merchants with the opportunity to accept payments for their goods and services through all online payment methods.

What innovative measures are being implemented in online payment security to combat fraud?

Alexander Aukhariev: Security is a top priority for us. As online payments continue to grow, so does the number of fraud attacks. This necessitates the implementation of advanced authentication algorithms in the industry, such as 3D Secure 2.0 and biometric technologies. Artificial intelligence and machine learning technologies are being utilized to bolster payment security by detecting fraudulent activities and tailoring offers for users. Beyond fingerprints and facial recognition, contactless methods like gesture recognition and behavioral biometrics are beginning to be employed for user authentication. These trends underscore the ongoing efforts of the online payment industry to ensure efficiency, security, and convenience for both consumers and businesses. This encompasses both technological innovations and changes in regulatory frameworks aimed at fostering competition and safeguarding consumer rights.

SiGMA News spoke with Alexander Aukhariev, CEO at Payment.Center. Aukhariev is co-owner of Payment Center with over a decade of experience in corporate and consumer business development. With a proven track record in developing and implementing innovative solutions in the payment systems sector, he has successfully leveraged his experience in team management and strategic planning to establish partnerships and foster co-operation in the field of financial technology at the Payment Center. His comprehensive approach includes market research, regional strategy design and execution, marketing campaigns, and effective team management. His wide network and effective work relationships span the globe, and he has successfully managed a number of high-profile international projects.

In an exclusive interview with SiGMA News held during ICE London 2024, David Yatom Hay, General Counsel of Soft2Bet, provided insights into the dynamic regulatory landscape in the iGaming industry and the company's future strategies.

Soft2Bet, a leading provider of online gaming solutions, has been at the forefront of innovation and expansion in the iGaming sector. David Yatom Hay, as the company's General Counsel, plays a pivotal role in managing the complex legal frameworks that govern the industry.

During the interview, David Yatom discussed Soft2Bet's strategic vision for the coming years, emphasising the importance of adaptability and innovation in an increasingly competitive market. He highlighted the company's commitment to leveraging cutting-edge technology to enhance user experience and stay ahead of emerging trends.

"Innovation is key to our success," David Yatom Hay remarked. "We are constantly exploring new technologies and approaches to deliver a superior gaming experience to our customers."

Yatom also addressed the challenges posed by regulatory developments across various jurisdictions. With the iGaming landscape undergoing rapid transformation, compliance with regulatory requirements has become paramount for industry stakeholders.

Echoing what he discussed during a panel earlier this week at ICE VOX, he stated,

"We place great emphasis on compliance and regulatory adherence," Yatom added. "As the regulatory landscape evolves, we are committed to ensuring full compliance while continuing to deliver value to our customers."

Soft2Bet's General Counsel expressed optimism about the future of the iGaming industry, despite the regulatory complexities. He emphasised the importance of collaboration between industry players, regulators, and other stakeholders to drive sustainable growth and innovation.

"The iGaming sector offers tremendous opportunities for growth and innovation," Yatom commented. "By working together and embracing regulatory changes, we can unlock the full potential of this dynamic industry."

The fourth edition of SiGMA Eurasia will once again be held at the InterContinental Dubai Festival City. Held between the 25 and 27 February 2024, the summit provides invaluable opportunities for attendees to network with industry professionals, gain exposure to the latest tech and innovations in the sector, meet key decision makers, and gain insight into new markets.??

At the core of the rapidly-expanding online betting industry in the US, a little-known Canadian company named GeoComply has emerged as a game-changer.

Backed by Blackstone, one of the world’s largest private equity groups with $1 trillion of assets under management, GeoComply has carved out a niche for itself in the booming betting market.

GeoComply’s technology is simple yet crucial. Before a US gambler can place a single bet online, their location must first be verified to ensure they are complying with the complex patchwork of state-specific laws that govern the market.

GeoComply has a near monopoly on providing this service, processing 1bn geolocation checks every month on average and charging a small fee each time. Its clients include industry giants like FanDuel, DraftKings, BetMGM, Caesars Entertainment, and ESPN Bet, which together account for more than 90 percent of US online sports betting.

Despite its current dominance, GeoComply is not resting on its laurels. The company is drawing scrutiny over litigation and restrictive contracts that have helped maintain its lead. Meanwhile, competitors are lining up to take a shot at the market.

The company’s founders, husband and wife David Briggs and Anna Sainsbury, (in photo above), are now considering a stock market listing.

Today the story of GeoComply is a testament to the power of innovation and foresight, a story about betting on the future, and so far, it seems like a winning bet.

The legalization of online sports gambling in the US has been a game-changer for the industry. Since the 2018 Supreme Court ruling, Americans have bet nearly $300bn online, and this figure is expected to grow by 60 percent over the next four years to US$ 24 billion. Amidst this boom, GeoComply has emerged as a dominant player, processing one billion geolocation checks every month.

GeoComply’s strategy to maintain its market share has raised concerns among some customers, competitors, and antitrust experts. The company has pursued litigation against rivals and drawn up stringent contracts with clients, effectively blocking them from exploring rival services. This has led to accusations of unlawful monopolization and restraints of trade under US antitrust laws. As the online betting industry continues to grow, the stakes are high for GeoComply.

The company’s superior product and business acumen are challenged by new entrants and competitors. Regulatory scrutiny highlights the complexities of operating in this rapidly evolving market. As GeoComply faces these challenges, the future of the online betting industry hangs in the balance.

GeoComply’s success has been boosted by a minority investment from Blackstone in March 2021. The firm was attracted by the rapid growth of the online betting market and the essential role geolocation plays in meeting the industry’s regulatory requirements. However, GeoComply’s dominance has not gone unchallenged. Rival geolocation companies, such as Radar and Xpoint, have also attracted investor attention and are making inroads into the market.

The company has the advantage of being 'first to market' and has therefore emerged as a dominant player in the US online gambling industry. However, GeoComply also faces criticism over its exclusivity clauses, patent litigation, and pricing strategy, which some see as anti-competitive and exploitative. The company defends its practices as fair and necessary, and says that it welcomes competition in the market.

The US online gambling industry is expected to grow rapidly in the coming years, as more states legalise and regulate online sports betting and casino games. This will create more opportunities and challenges for GeoComply and its rivals, as well as for the operators and regulators. The industry will also have to deal with the social and ethical issues that arise from the proliferation of online gambling, such as addiction, fraud, and money laundering.

On the other hand in order to maintain its leadership and success in the online betting industry, GeoComply will have to strike a balance between innovation and compliance, as well as between profitability and responsibility.

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