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Maximizing ROI in iGaming: A Deep Dive into Non-Standard Geo-Targeting Through Influencer Marketing (Part 1/2)

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Reading Time: 5 minutes

 

Here’s a quick take on influencer marketing in iGaming: it’s all about making waves in the digital world. Popular social media stars teaming up with iGaming brands make them not only well-known, but also more trustworthy. Influencers have got the followers, the trust, and the know-how to get people excited about gambling and betting online. In this article, Anna Zhukova, Team Lead of iGaming vertical at Famesters will delve deeply into smart influencer marketing strategies for this business vertical. 

Here are some of the key components of influencer marketing for iGaming brands:

  • Engaging the Crowd: Influencers are superstars at grabbing the attention of different players – from those who play just for fun to the serious high rollers.
  • Building Trust: When an influencer gives a thumbs-up to a game or a particular online casino, their followers listen. It’s like having a friend recommend your favorite new game.
  • Finding the Right Fit: Picking the perfect influencer is key. They need to align with what the iGaming brand is all about.
  • Staying in the Lines: iGaming has got rules. Influencers need to play by them to keep things cool and compliant.
  • Performance Metrics and ROI: Tracking the success of influencer campaigns through metrics like reach, engagement, and conversions is crucial. This data helps in refining strategies and ensuring a high return on investment.

 

In short, influencer marketing in the iGaming industry is a trust-building powerhouse: it is a nuanced and effective approach, leveraging the power of influential personalities to build brand trust, engage diverse audiences, and drive business success within a regulated framework.

And here’s another great power that influences the final results of an influencer marketing campaign: geo-targeting. It’s about hitting the right audience, in the right place, at the right time. Here’s why you can’t do iGaming marketing without geo-targeting:

  • Audience Segmentation: It’s all about hitting the sweet spot with each region’s unique gaming tastes and cultural vibes. Tailoring content to specific areas means more impact and appeal.
  • Regulatory Compliance: Different areas, different rules. Geo-targeting keeps campaigns on the right side of the law, dodging legal headaches.
  • Localized Content: This is where you speak their language, literally. You have to adapt to local dialects, cultural hooks, and region-favorite games to ramp up engagement and conversions.
  • Cost Efficiency: It’s about smart spending. Better focus your efforts where they count, avoid wasting resources, and watch your marketing budget deliver more.
  • Data-Driven Decisions: You can use geo-targeting data to get the lowdown on what works where. This insight sharpens resource allocation, boosting your ROI.

Understanding the iGaming Industry

The iGaming industry, encompassing online gaming and betting platforms, has witnessed exponential growth in recent years. A surge in digital technology adoption and the rise of mobile gaming have been pivotal. The industry’s growth trajectory is marked by technological advancements, expanding into new markets, and an increasing acceptance of online gaming as a mainstream entertainment option. This evolution has opened doors to vast opportunities but also posed unique challenges.

According to Statista, the global iGaming market is expected to reach a revenue of more than $107 billion in 2024.

Traditional marketing methods in iGaming face several hurdles. The biggest is the evolving regulatory landscape, with different countries imposing varied restrictions on gaming advertising. Additionally, the traditional one-size-fits-all approach struggles in a market where gamers’ preferences are as diverse as their geographical locations. There’s also the challenge of ad fatigue, where conventional advertising methods no longer capture the audience’s attention as effectively.

To navigate these challenges, the iGaming industry is turning towards more innovative, targeted, and engaging marketing strategies. Personalization and use of data analytics are becoming increasingly important. Brands are now focusing on creating more immersive and interactive marketing experiences that resonate with their audience on a deeper level.

Influencer marketing is now one of the most powerful tools in the iGaming industry. It leverages social media influencers’ reach and credibility to promote betting and gambling platforms and products. This approach taps into the influencers’ engaged audiences, offering a more authentic and trustworthy promotion method than traditional advertising. Influencers can create content that resonates with their followers, whether it’s through live-streaming games, tutorials, or reviews, thus providing a more organic and engaging way to introduce products to potential customers.

Statistics underscore the impact of influencer marketing. For instance, 66% of marketers using it say that influencer-generated content performs equally or better than branded content. Also, on average, brands earn $5.78 for every dollar spent on influencer marketing.

Understanding the iGaming industry today means recognizing the shift towards more innovative, personalized, and influencer-driven marketing strategies. The industry’s growth is paralleled by the evolution of marketing techniques, with influencer marketing standing out as a key player in engaging and expanding the iGaming audience.

Non-Standard Geo-Targeting

First, you need to understand the tiers in global market segmentation. There are three of them. Understanding the economic and audience characteristics of different tiers is crucial for effective global marketing. Each tier offers unique opportunities and challenges, and selecting the right one depends on a company’s budget, target audience, and industry regulations.

Tier-1 Countries: The Premium Market

  • Characteristics: These are the most developed countries with strong economies and a wealthy audience.
  • Why They’re Attractive: Businesses target these regions due to the high purchasing power of the audience. This means greater potential for sales and revenue.
  • Consideration: Advertising in these countries can be quite expensive. Brands should be prepared for higher marketing costs.

 

Tier-2 Countries: The Balanced Choice

  • Characteristics: These are developing countries. Their economies are well-developed, but the audience’s purchasing power isn’t as high as in Tier-1 countries.
  • Why They’re Attractive: They’re a strategic choice for businesses seeking a solvent audience without the high costs associated with Tier-1 markets.
  • Ideal for Certain Industries: Tier-2 countries are particularly suitable for advertising sectors like betting, forex, and binaries, which might be restricted in Tier-1 countries.

 

Tier-3 Countries: High Reach, Low Cost

  • Characteristics: Often referred to as ‘third world countries,’ these nations have weaker economies and lower-income populations.
  • Advantages: Advertising costs are low, allowing for broad coverage even with smaller budgets.
  • Target Audience: These regions are often targeted by industries like gambling, forex, and betting. These sectors appeal to audiences seeking opportunities for ‘easy’ income.

 

Now let’s take a closer look at the peculiarities of each tier and the countries in it.

High Costs in Tier-1 Markets: A Matter of Solvency

  • User Solvency and Payback: In Tier-1 markets, users generally have higher purchasing power, which can lead to better payback for businesses. However, this comes with its own set of challenges.
  • Regulatory Hurdles: A significant issue in these markets is the stringent regulation around gambling products. While launching campaigns on platforms like Facebook may not require a license, working with influencers often does.
  • Licensing Complexities: Licenses such as MGA (Malta Gaming Authority) or Curacao are necessary for simply working in European countries. However, they don’t authorize advertising in these geographies and targeting users in them. Plus, obtaining advertising permissions is a very complex process.
  • Influencer Marketing Challenges: Tier-1 influencers, earning well from less risky advertising options, often steer clear of gambling promotions. Finding one willing to collaborate without a license is rare.

Businesses eyeing Tier-1 markets need to be prepared for higher costs and stringent regulations, especially when incorporating influencer marketing into their strategies. While the financial returns can be significant due to the high solvency of users, navigating the regulatory and licensing requirements adds complexity. 

In contrast, Tier-2 markets offer a more accessible and flexible environment for certain types of promotions, including those in the gambling sector. Transitioning from the complex landscape of Tier-1 markets, Tier-2 geographies present a different potential. The regulatory environment is typically less stringent, and the cost of marketing is more manageable compared to Tier-1.

In the next article, we will make it clearer how the countries from different tiers can be connected, what role influencers play in this, and most importantly – how exactly non-standard geo-targeting can be used to reach more solvent audiences with cost-effective strategies. Stay tuned!

 

Author: Anna Zhukova, Team Lead (iGaming) at Famesters

The post Maximizing ROI in iGaming: A Deep Dive into Non-Standard Geo-Targeting Through Influencer Marketing (Part 1/2) appeared first on Hipther Alerts.

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China Targets Crypto Crimes in Metaverse & Blockchain

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The Supreme People’s Procuratorate (SPP) of China is targeting cybercriminals using blockchain and metaverse platforms for illegal activities amid rising online fraud and personal data infringement.

Deputy prosecutor-general Ge Xiaoyan reported a 64% year-on-year increase in cybercrime-related telecom fraud charges. While blockchain crimes are rising, traditional offenses like gambling and counterfeiting have also expanded into cyberspace. Charges for internet theft rose 23% while online counterfeiting surged 86%.

Between January and November, prosecutors pressed charges against 280,000 individuals in cybercrime cases, up 36% versus last year and constituting 19% of all criminal offenses.

Zhang Xiaojin, director of the SPP’s Fourth Procuratorate, warned citizens about investment scams in crypto, noting the rise of crimes using metaverse, blockchain, and binary options platforms. He said digital currencies have become hotspots for illicit activities.

China’s crackdown on crypto crimes differs from Hong Kong’s crypto-friendly regulations that aim to protect investors without stifling innovation. The People’s Bank of China stressed the need for coordinated global crypto regulation in its latest report.

In 2021, China officially banned crypto transactions and mining but remains a major mining hub despite the crackdown. The SPP aims to strengthen inter-departmental coordination in curtailing crypto adoption and cybercrimes involving digital assets.

Source: Crypto Times

The post China Targets Crypto Crimes in Metaverse & Blockchain appeared first on HIPTHER Alerts.

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Crypto Headlines of the Week: ECB Slams Bitcoin, Nigeria Blocks Exchanges

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The European Central Bank (ECB) has once again lashed out at Bitcoin, claiming that the recent approval of spot BTC ETFs changes nothing.

The central bank’s officials said Bitcoin’s fair value is zero, and the latest boom will spark massive collateral damage.

They claimed Bitcoin falls short in generating cash flow or other value-based returns, making it a poor investment.

While the ECB’s skepticism towards Bitcoin is not new, Nigeria is also growing skeptical of digital assets and crypto exchanges.

In an effort to crack down on currency speculation while the naira tumbles to record lows, Nigeria has ordered telecom companies to restrict consumer access to the websites of companies like Binance, Coinbase, and Kraken.

Here are this week’s important crypto stories:

ECB Slams Bitcoin Again
The European Central Bank (ECB) has reiterated its position on Bitcoin, stating that the approval of spot ETFs for the cryptocurrency does not change its unsuitability as a means of payment or investment.

“We disagree with both claims and reiterate that the fair value of Bitcoin is still zero,” the central bank wrote.

ETF approval for Bitcoin – the naked emperor’s new clothes (ECB Blog)

Kraken Files to Dismiss SEC Lawsuit
Crypto exchange Kraken has filed a motion to dismiss a November lawsuit from the Securities and Exchange Commission that accuses the firm of failing to register with the agency and commingling customer funds. The exchange contended that the SEC’s enforcement action came as retaliation for political speech.

Kraken moves to dismiss SEC lawsuit, citing retaliation from ‘a politically compromised agency’ (Fortune)

Nigeria Blocks Major Crypto Exchanges
Authorities in Nigeria have blocked access to some of the world’s largest cryptocurrency exchanges as the government tries to crack down on currency speculation while the naira tumbles to record lows.

On Wednesday, the country’s telecom regulator ordered telecom companies to restrict consumer access to the websites of companies like Binance, Coinbase, and Kraken.

Nigeria blocks access to crypto exchanges in an effort to curb currency slide (The Financial Times)

FTX Cleared to Sell Stake in AI Startup
A US judge has ruled that bankrupt crypto exchange FTX may sell its shares in artificial intelligence startup Anthropic.

US Bankruptcy Judge John Dorsey in Wilmington, Delaware, approved FTX’s proposal to sell the shares after FTX reached a compromise in court with a group of FTX customers that had opposed the sale.

Crypto exchange FTX to sell shares in AI startup Anthropic (Reuters)

Jack Dorsey’s Block Gains Big From Bitcoin Bet
Fintech company Block has reported a remeasurement gain of $207 million on its Bitcoin holdings. As of December 31, 2023, Block held approximately 8,038 BTC for investment purposes with a fair value of $340 million.

The Jack Dorsey-owned company made $66 million in gross profit on bitcoin sales last quarter through Cash App, a banking services platform, representing a 90% increase year over year.

Jack Dorsey’s Block Is Sitting on $207M Gain on Its Bitcoin Bet (CoinDesk)

Reddit Now Holds Bitcoin
Social media platform Reddit has revealed investments in Bitcoin and Ethereum using some of its excess cash reserves. This was included in the SEC filings as part of its preparations for the company’s initial public offering (IPO).

Still, the exact amount invested in these leading cryptocurrencies remains undisclosed.

Reddit says it invested ‘excess cash reserves’ in Bitcoin, ether (Blockworks)

Crypto Super PAC Continues to Raise Funds
Crypto-friendly super PAC Fairshake received $6.8 million in funding last month, including $4.9 million from Gemini co-founders Cameron and Tyler Winklevoss. Fairshake has quickly become one of the most popular super PACs for crypto-friendly donors this election cycle.

Crypto Super PAC Fairshake Raised $6.8 Million From Winklevoss Twins and VCs in January (Decrypt)

Major ETF Issuers Talk About Crypto in Miami Conference
The discussion on the spot Bitcoin ETFs was the most well-attended panel of the entire Exchange ETF Conference in Miami Beach, Florida, so much so that the staff ran out of the headphones attendees were provided with to listen to the speakers.

Crypto no longer outsider at famed Miami Beach ETF conference (Fox Business)

Retail Investors Were Behind Recent Crypto Rally
Retail investors were likely responsible for the strong crypto market rally in February, JPMorgan said in a recent research report.

The bank said that the anticipation of “the bitcoin halving event, the next major upgrade of the Ethereum network, and the prospect of approval of spot ether ETFs by the SEC in May” attracted retail participation.

JPMorgan Sees Retail Traders Jump Back Into Crypto Markets in February (Bloomberg)

South Korean Province Collects $4.6M in Crypto Tax
South Korea’s most populated province, Gyeonggi, has collected $4.6 million from crypto tax evaders. Using a new system, the province found 5,910 people who owed more than $2262 each. The $4.6 million collected so far has been from only 2,390 people last year.

South Korean province implements digital system to track tax evaders’ crypto (Cointelegraph)

The Bottom Line
The ECB has reiterated its critical stance on Bitcoin, despite the recent approval of spot Bitcoin ETFs, maintaining that Bitcoin’s intrinsic value remains at zero. Meanwhile, Nigeria is taking steps to limit cryptocurrency engagement amid concerns over financial stability.

Source: Techopedia

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Bolstering Native Food Markets Through Blockchain

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The Allan Labor Government is helping to bolster the native foods industry by supporting Traditional Owners with new options to track and sell native foods through blockchain.

Around 70 native foods business practitioners attended the inaugural First Nations Native Food Blockchain Workshop at Healesville last week.

The workshop was delivered by the RMIT Blockchain Innovation Hub in partnership with Agriculture Victoria and the Federation of Victorian Traditional Owners Corporation (FVTOC).

Over two days, the workshop explored the potential for blockchain technology to support positive outcomes for Victorian Aboriginal native food businesses. The workshop also focused on ways in which blockchain can support and uphold Indigenous Cultural Intellectual Property rights for Victorian Traditional Owners.

Blockchain technology offers new abilities for data management and governance by enabling decentralised and tamper-resistant storage. It enables new and unique ways to further enable Aboriginal self-determination and data sovereignty for First Nations people within the native foods and botanicals industry.

The technology also offers a secure and transparent system for tracking product authenticity, with the ability to store and manage traditional knowledge and stories.

This workshop aligns with the objectives of the Traditional Owner Native Food and Botanicals Strategy, developed by the FVTOC and the Victorian Government in 2021, which laid out a plan to create a strong, authentic and sustainable bushfood sector.

Quote attributable to Minister for Agriculture Ros Spence

“This workshop provides more ways to help ensure Victorian Aboriginal native food businesses are equipped with the skills and technology they need to thrive.”

Quote attributable to Minister for Treaty and First Peoples Natalie Hutchins

“This is a great example of Aboriginal businesses coming together to drive a strong and sustainable native food industry and promote economic development.”

Quotes attributable to Gunditjmara Elder Professor Richard J Franklin

‘Blockchain unveils promising pathways for Aboriginal data sovereignty and community empowerment, crucial for uplifting our communities and ensuring improved outcomes.” “I am enthusiastic about the possibilities that blockchain holds, particularly within the native food and botanicals industry. Technology must be one of the many spearpoints we use in charting toward a tomorrow Australia.”

The post Bolstering Native Food Markets Through Blockchain appeared first on HIPTHER Alerts.

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