Industry News
“Against All Odds” – Will sound be the key to future winnings for betting and gaming brands?
Max De Lucia, Co-Founder and Client Director of specialist sonic branding agency DLMDD.
There are few brands and businesses across the world that haven’t been in some way affected by the current global climate. But as lockdown restrictions are eased and marketplaces begin to return to their “new normal”, betting brands and their marketers now have an even greater issue to navigate.
With momentum gathering in the UK Parliament for a “total ban” on all gambling advertising, brands need to think fast about the role they play in consumers lives and how they can communicate if traditional media channels are further plastered with red tape.
However, as many of you reading this will know, these aren’t new challenges. A ban on gambling advertising during live sport came into effect in the UK from August last year, restricting advertising within a “whistle to whistle” period beginning five minutes before the start of a match and ending five minutes after. These limitations will have already forced marketing departments to think very carefully about how to gain competitive advantage and win attention in these moments. However, and somewhat surprisingly, no brand has dominated when it comes to sound.
Think about it – I can reel off the names of every betting and gaming brand out there in the market, and you’ll instantly be able to tell me what they look like; what colour the logo is, what the slogan says and which celebs they use in their ads. But what do any of them sound like? Well, nothing.
This seems bonkers to me. Earlier this year, Marketing Week highlighted a powerful learning from IPSOS’ marketing study ‘The power of you’. Put simply, the research shows that the use of distinctive sonic cues can have 8.5x the power of visual stimuli. So why is sound so untapped across the sector?
Let’s be frank, underneath the visual brand and the corporate slogans of any betting organisation are odds and chance. You might get slightly better odds and slightly better chances by shopping around but at the end of the day, odds are odds.
As punters, we make our choices on the brands we associate with based upon how we feel about them. And music and sound offer the world’s most powerful shortcuts to human emotion if we know how to handle them right. If expertly managed, they can fulfil every part of our pleasure and reward psychologies garnering effects that can only be rivalled by good food, love and drugs.
What is particularly unique about betting and gaming is that their audiences want and demand to feel something about the brand they’re playing with. This is quite unlike most other sectors and industries. Do I want to feel something about Shell? I’m sure their Brand Director wants me to but no, quite frankly I just want to fill my car up with petrol from the nearest station to me and get the hell out of the forecourt as quickly as possible.
Conversely, emotion is at the forefront of the experience of all bettors and gamers and it’s the responsibility of the brands and their audiences to manage and control how that emotion manifests itself in a safe manner. If all parties get it right, music and sound have the ability to heighten the entire consumer experience at every moment that an audience interacts with their chosen brand.
Historically, the betting and gaming industries have looked at sound through a fairly primitive lens; famous psychological studies have highlighted the use of music and sound in slot machines that reinforce the sensation of ‘winning’ with jubilant sound effects, flashing lights and winning coins dropping down on metal surfaces.
It doesn’t take a genius to work any of that out and along with questionable morality, this doesn’t exemplify the true power of music and sound. When it’s done right, we allow music and sound into our minds. They can stay with us forever and evoke our emotions at the flick of a wrist.
In a world and an industry where the way the consumer feels is the difference between them choosing to play with brand X over brand Y, the first player in the market who can cement their identity in music and sound will have the odds sounding firmly in their favour for many more moons to come.
Kutt, the leading social betting platform, announced that it closed the first quarter of 2024 with a successful fundraise of over $1 million and that it has surpassed the 10,000 user mark. The company also commissioned a study of 1000 bettors that clearly defines what social betting is and what users want — further cementing its ownership of the space.
“Betting has been a social activity for thousands of years, so it’s no surprise that consumers want the ability to facilitate and track wagers against their friends. If anything, bettors unquestionably prefer a more curated, social experience — they want to be part of a wider community and to be part of the conversation around sports, entertainment, and important events,” Sim Harmon, CEO and founder of Kutt, said.
While sports betting has boomed across the country since the Professional and Amateur Sports Protection Act (PASPA) was overturned in 2018, established gambling companies have largely stuck to the tried-and-true format sportsbooks have been using for decades — traditional sports bets against the house. But consumer desire to experience more has increased as the betting industry has matured, with 82% of bettors interested in wagering directly against their friends and other individuals through a decentralized platform, according to Kutt’s recently commissioned survey.
The survey found that, in addition to Kutt’s traditional offerings, an overwhelming majority of bettors (80%) are interested in wagering on non-sporting events, with 77% wanting to bet on entertainment, 62% interested in wagering on politics, and 60% with a desire to bet on life events. Kutt allows users to wager with friends on any event with publicly verifiable results, making it the ultimate “put your money where your mouth is” destination for fans. The survey also shed light on some compelling aspects and trends among current bettors, including:
- A higher percentage of bettors surveyed placed a wager with a friend in the past year (61%) vs. a sportsbook (60%)
- More than half of U.S. bettors (54%) have betting group chats with friends
- A majority of U.S. bettors (60%) text their friends about the progress of a bet while watching a game.
Adding further validity to the findings of the survey and the demand for a real-money social betting experience is Kutt’s recent $1 million+ institutional fundraise, led by Lightning Capital, a firm that invests in digital assets and online communities. The investment will fuel initiatives aimed at growing the Kutt community, enhancing user experiences, and expanding betting markets.
“We look for emerging companies in high-growth industries to invest in. Kutt’s enthusiastic user base, rapidly growing partnership portfolio, and their differentiated product offering were very attractive to us. We are eager to help them continue to define and own the social betting space,” Jock Percy, General Partner at Lightning Capital, said.
Trustly announced a bold pledge to boost growth for businesses across Europe. In a major move to revolutionise the checkout experience for millions of people, the payments tech firm unveils the new Trustly Growth Guarantee.
The market-leading account-to-account provider is offering clients – current and new – a fresh way to pay at the checkout. As part of this, businesses are guaranteed to see an increase in conversion rates, to as high as 98.8%, and a clear reduction in the fees they pay in comparison with traditional payment methods.
Customers will enjoy fewer steps to pay and the added efficiency of return user recognition; Trustly guarantees supercharged success at the checkout. With predictable pricing, costs will be just one amount per transaction – with no variable fees at all. Trustly also states that it is dedicated to providing a seamless integration and will include Success Concierge as standard.
The initiative, revealed only a matter of days after impressive 2023 growth results were announced for the global leader in the industry, reflects Trustly’s unwavering confidence and commitment to continuing to innovate account-to-account payments. Last week, Trustly announced a 79% increase YoY in annual transaction value – reaching $58 billion in total.
Its track record for already attracting major global clients – some examples being Meta, eBay, HMRC, Zalando and Hargreaves Lansdown – signifies that there’s been a distinct change in customer preference and merchants priorities.
Businesses are making attempts to remain innovative and ahead of the curve as millions of consumers increasingly adopt open banking-enabled account-to-account solutions instead of other more standard options when they pay.
Jussi Lindberg, Chief Revenue Officer of Trustly Europe, said: “Our market-leading payment setup embodies Trustly’s mission: to be a growth partner for our clients. We don’t just provide payment solutions; we drive efficiency and value in their businesses. Trustly Azura has delivered remarkable results, and now businesses can experience its benefits. Account-to-account payments are booming, and we’re here to help businesses seize the opportunities it offers.”
If merchants do not see a boost in conversion or a drop in payment costs – at a processing rate of at least 50K transactions each month, for three months, Trustly will reimburse three months’ worth of processing fees. The guarantee is available for both new and existing European customers and is subject to Trustly’s general terms & conditions.
The post Trustly Announces Major Move to Guarantee Growth for Businesses Across Europe appeared first on European Gaming Industry News.
Wazdan, the gain-focused developer behind some of the world’s most rewarding casino game experiences is set to make the most of the networking and relationship-building opportunities at Casino Beats Summit 2024 and share its groundbreaking Online gaining™ approach.
Leading a formidable team of Wazdan talent will be Chief Commercial Officer Andrzej Hyla. Joining him in Malta is Promo Tools Specialist Marcin Trafiałek, who has been nominated for the prestigious Product Manager of the Year award at the CasinoBeats Game Developer Awards 2024.
Trafiałek’s nomination recognises his pivotal role in the triumphant success of the Mystery Drop™ promo tool. Additional representatives from Wazdan’s Account Management and Marketing departments will also be on hand, eager to connect and share the latest Wazdan innovations.
Wazdan’s commitment to excellence is further underscored by its multiple nominations at the CasinoBeats Game Developer Awards 2024. The company’s exciting new titles and features are vying for top honours in various categories, including:
- Slot to Watch: 25 Coins™
- Game Mechanic of the Year: Coins™ series
- Game Feature of the Year: Coins™ series
- Game Music/Soundtrack: Book of Faith™
- Game Music/Soundtrack: Los Muertos™ II
- Game Retro-Style: Mighty Symbols™: Crowns
As a proud sponsor of CasinoBeats Summit 2024, Wazdan reaffirms its dedication to fostering a vibrant iGaming community and actively participating in industry-shaping events. The company looks forward to setting a course for success and collaboration at the summit.
Andrzej Hyla, Chief Commercial Officer at Wazdan said: “Casino Beats Summits are always fantastic events. This year sees us in the enviable position of being shortlisted for six awards which reflects the hard work our team of engineers and inventors have put into the experiences that add value for demanding players.
“We’re looking forward to meeting friends old and new at the event and sharing how we gain ground and ground gain.”
The post Wazdan set to gain more ground at Casino Beats Summit Malta appeared first on European Gaming Industry News.
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