Many iGaming products end up looking alike, as companies focus on improving what already works instead of introducing fresh ideas. Paris Smith, an experienced advisor and former CEO of Pinnacle Sports, shares how businesses can break this cycle and create user-first, innovative products.
Why iGaming Struggles with Innovation
In a rapidly growing market, iGaming companies face a balancing act between maintaining successful products and introducing new concepts. Smith explains that businesses often focus on small optimisations rather than bold innovation.
“When you’re inside the industry, you focus on maximising what’s already working. If improving an existing football betting product yields better returns than launching something entirely new, that’s where resources go.”
Regulatory requirements add another layer of complexity, often forcing companies to shift priorities. Unexpected compliance demands can drain resources, making it harder to invest in new product development.
Learning from Other Industries
Smith believes the future of iGaming innovation will be shaped by younger entrepreneurs who understand digital trends beyond gambling. She sees opportunities to borrow ideas from industries like tech and streaming to improve user experience.
“If you see a problem, find the solution. The next generation of entrepreneurs, who engage with platforms like Reddit and other digital spaces, will bring fresh ideas that improve UX and engagement in iGaming.”
Startups often lead the way with superior products, but breaking into the market is difficult. Larger companies may need to consider acquisitions to stay ahead of the curve.
Building User-Centric Experiences
Instead of relying on marketing gimmicks, iGaming businesses should focus on what players actually want. Smith highlights the importance of direct customer feedback.
“Newer companies spend as much time talking to their players as they do networking within the industry. Established brands like Pinnacle or William Hill rarely ask customers what they need, whereas startups truly listen and adjust accordingly.”
Beyond gathering feedback, companies must be willing to act on it. Businesses that continuously improve based on user input are the ones that attract acquisition interest.
Staying Connected with Customers
Many executives lose touch with their customers as companies grow. Smith, however, has always prioritised direct communication.
“I started by taking bets, and even after moving up, players still reached out to me directly. That was the best way to get insights because customers often pointed out issues before IT was even aware of them.”
She advises leaders to maintain a flat organisational structure, ensuring key decision-makers stay in tune with real user experiences.
Managing Risk While Implementing Change
One challenge of product innovation is filtering out self-serving feedback and identifying real opportunities for improvement. Smith explains that Pinnacle had a dedicated team for assessing customer suggestions.
“We analysed feedback to determine what would bring the most value to both the customer and the business. Every idea had to go through a risk assessment before implementation.”
Alignment across departments is crucial. Issues often arise when marketing, payments, legal, and operations teams have conflicting priorities.
“Marketing wants fast withdrawals, but the payments team prioritises security. Compliance teams want stricter controls, but marketing wants a seamless user experience. It’s all about ensuring communication remains open between departments.”
Innovation in Regulation
Regulatory constraints can limit creativity, but Smith believes there are ways to work within the rules while still driving innovation.
“I haven’t seen regulation directly improve user experience, but I have seen companies create innovative solutions to meet compliance requirements. The smart ones develop tools and services that help businesses follow regulations without stifling innovation.”
She warns that excessive regulation can push players towards unregulated markets. Finding a balance between compliance and user freedom is key.
Responsible Gaming: Strategy or Marketing?
The conversation around responsible gaming continues to evolve, but Smith believes it should be a core business strategy rather than just a regulatory obligation.
“Long-term success in iGaming comes from keeping players engaged responsibly. AI can now detect problem gambling behaviours early, just like it can identify sharp bettors. Operators have all the data needed to intervene appropriately.”
She argues that education plays a crucial role. Rather than imposing rigid limits, operators should focus on providing tools that help players manage their gaming habits effectively.
Bringing Innovation and Strategy Together
The iGaming industry has enormous potential for growth, but true innovation requires companies to listen to their players, adopt smarter risk management strategies, and maintain open communication across teams. As regulatory landscapes shift, those who balance compliance with creativity will emerge as long-term winners in the market.
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