The iGaming industry is undergoing a major transformation, with blockchain technology playing a crucial role in driving innovation and improving the player experience, according to Matthew D’Emanuele, Chief Executive Officer at Yolo Entertainment.
In an interview with Asia Gaming Brief, D’Emanuele, who oversees operations at Bitcasino, one of the pioneering blockchain-based online casinos, highlighted several ways in which the technology is reshaping the industry.
A bitcoin gambling website, Bitcasino allows users to play casino games, lottery, and to bet on sports, with no fiat currency options provided, but with users able to purchase crypto using fiat and use them as payment.
“When Bitcasino launched a decade ago, the primary benefit of blockchain technology was payments,” D’Emanuele said. “Cryptocurrencies enable fast and low-cost transactions compared to traditional banking systems, and that means we can deliver a better deposit and withdrawal experience to our players. We’ve had players win multi-million dollar jackpots have their winnings in their wallet within a minute. That’s just not possible with the fiat system.”
But the potential of blockchain extends far beyond payments, according to D’Emanuele. “Now we’re increasingly seeing new areas where blockchain technology can improve the user experience,” he said. “A lot of this stuff wasn’t possible a few years ago, but there’s been huge leaps forward in terms of layer-2 and high-throughput/low-latency chains that mean we can do much more on-chain without waiting around or paying high fees.”
One area that D’Emanuele finds particularly exciting is the integration of blockchain-based loyalty programs into the gaming experience. “Executed well, this can be a game-changer for engaging and retaining players.”
Additionally, D’Emanuele highlighted blockchain’s potential to enhance transparency and security in the industry. “We’re thinking a lot about how blockchain technology can create a better and safer experience for players,” he points out.
“There’s a great myth with cryptocurrency that everything is anonymous. In most cases, this is simply false. We’re actually able to track the source of a player’s funds with far greater granularity than we can when that same deposit comes from a bank. Everything is there on a public ledger, and this is a fantastic resource, particularly around improving AML standards.”
Blockchain was described as increasingly important in building trust and security with customers.
“Smart contracts are a really interesting tool, where we can automate key procedures in a permissionless way”, he explained, predicting a significant shift in this regard in the coming months.
As the iGaming industry continues to evolve, D’Emanuele believes that embracing new technologies like blockchain will be crucial for companies looking to stay ahead of the competition.
“We’ll see more of this over the coming years and the operators that succeed will be the ones that adapt fastest,” he said. “Look at something like memecoins. Millions of people are trading these every day and the experience is very similar to a casino. We don’t consider it part of an iGaming offering right now, but embracing the new ways people want to gamble and play is going to mean expanding beyond slots and table games.”
When asked about differentiating offerings, D’Emanuele emphasized listening to players and adapting quickly to changing preferences.
“Preferences change quickly. Crash games, once a niche genre, are now among the most popular titles on many online casinos,” he noted. He also suggested embracing new forms of gambling and play, such as memecoins, to stay ahead.
Web3 and AI: Keeping up with times
The Chief Executive Officer at Yolo Entertainment, shared his insights on the key factors driving success in this dynamic market, emphasizing the importance of delivering campaigns that resonate with users and leveraging unique selling propositions (USPs).
“iGaming is a competitive space where users have countless options; we have to deliver campaigns that resonate and leverage our USPs. Ultimately, we need to give the user a good reason to pick us.”
Matthew D’Emanuele
“I can’t stress enough the importance of identifying the metrics that will measure your success. These aren’t always the obvious ones, and thinking outside of traditional KPIs like LTV and CPA can often bring outsized rewards”.
D’Emanuele argued that while true that iGaming poses some unique challenges, the core principles remain the same. AI provides an opportunity to “fully decentralize the casino experience for users”, and “even allow them to own a slice of the piece”.
“AI is helping us deliver a more intuitive and personalized gaming experience,” he said, highlighting the dynamic odds generation for sportsbook markets as a promising area of expansion.
