Gamingtec visited FinCamp Odessa: 3 key insights for online gaming industry

Gamingtec Finance team visited FinCamp Odessa. Leading experts and business owners discussed current trends in global economic, including foreign markets risk assessments and expectations attached to the launch of Facebook`s cryptocurrency that is on its way.

Offering Full Turnkey iGaming software solutions, Gamingtec pays attention to the quality of all processes within the Company. Participation in specialized conferences is one of the ways to increase quality in everything we do.

Sapar Karyagdyyev

CEO of Gamingtec

Gamingtec Finance team shared three key insights for the online gaming industry.

[number:1] In the online gaming industry, Libra – Facebook`s cryptocurrency – may become an alternative payment system. Considering that Facebook is a key player on the social media market, experts predict that Libra will operate successfully because its stability is supported by business with large capitalization. The lunch of this cryptocurrency is expected in the first half of 2020 despite the ban to create its payment system that Facebook has got from U.S. Treasury.

[number:2] Foreign markets risk assessments is a priority for an iGaming company while planning to enter new markets. In current increased popularity of iGaming all around the world, Companies may find out a lot of potential interesting markets to enter – APAC, Africa, Latin America, Japan or other.

Factors which should be taken into account to evaluate risks concerned with entering new high-potential online gaming markets are:

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• Key decision-makers on.
• Groups of influence.
• Government-business relations.
• Licencing procedure according to the legislative system of the country.

[number:3] Functional strategy as an effective instrument to implement a strategy that works. To achieve measurable results, it is necessary to create precise strategies for every functional department of the company such as:

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• IT department: to develop 3 new gaming software products until the end of 2019, to integrate 10 game providers and develop a new platform;
• Operations department: to set up 5 new payment systems per month;
• Marketing department: to engage 3 new partners in a year.