In the same way that live streaming is taking over social media, slot streaming is beginning to have a huge influence on the online casino industry.
Forming collaborations with slot developers, appearing at events such as the CasinoBeats Summit and even developing their own slot titles are just a few ways that streaming has broken into the igaming mainstream.
Ahead of his appearance at CBS, Michael Pedersen, Chief Commercial Officer at Livespins, explains how online casino companies are leveraging the power of streaming and explains how Twitch’s casino streaming rule changes were “hugely beneficial” for the company.
CasinoBeats: As online casinos are increasingly leveraging the growing viewership for streaming, can you explain the advantages that can be gained by interacting and collaborating with streamers?
Michael Pedersen: The main advantage is that online casinos can tap into the lucrative but hard-to-reach Millennial and Gen Z audiences that engage with streaming and follow specific streamers. This is the generation that grew up with connected video gaming and seeks the social interaction that comes with playing with their friends and not just against the computer or, in the case of casinos, the random number generator.
Streaming is their playground and the operators that embrace streaming can authentically engage with this audience and provide them with a socially-charged experience. This is not only a powerful acquisition tool, but it’s highly effective when it comes to retention, too.
CB: To what extent can streamers be used as an efficient marketing tool in the igaming sphere?
MP: There are two ways in which an online casino can get in on the streaming action and use it as part of their wider marketing strategies. They can partner with a streamer and have them drive awareness of their brand by playing at it. Remember, a streamer can be a big-name celebrity as well as a professional casino streamer. Some of the biggest crypto casinos used this tactic but ultimately were blacklisted from the streaming platform Twitch.
The other way is to integrate Livespins into the casino lobby and to use a game based on streaming as a great player engagement and retention tool. Livespins allows players to get directly involved in the action by betting behind the streamer while chatting with other players throughout the session. Casinos can also use their brand ambassadors to host the streams, with plenty of activation opportunities to explore.
CB: 2023 saw some huge moves from Livespins, but what does the company have in store for 2024 to continue this momentum?
MP: We recently announced that Evolution has acquired Livespins, which surely sets the tone for 2024 and years to come. The first thing players will notice is when our streamers will soon start playing the fantastic games from the Evolution studios, which is a key part of the experience.
Secondly, Livespins will be integrated into Evolutions’ “One Stop Shop” or OSS, allowing all operators already integrated to simply enable Livespins through the same integration. We have many great plans and the synergies between our two companies seem endless, watch this space.
CB: How important is it for streamers and companies like Livespins to appear at events such as CasinoBeats Summit to enhance the impact of streaming in the online casino space?
MP: There is still a lot of work to do when it comes to making operators more confident in making their move into the world of streaming. Twitch banning certain operators and streamers has made some fearful of similar actions being taken against them and the impact this might have on the international and local licences they hold.
Events such as the CasinoBeats Summit allow us to sit down with operators and other stakeholders and explain face-to-face how Livespins at least allows them to leverage the streaming opportunity while being fully compliant at all times.
Unlike other products, Livespins sits within the casino lobby, and this means that players are afforded the same safe gaming protections as when playing any other game at the site and as required under the operator’s licence. It’s also a great opportunity to showcase just how entertaining slot and casino streaming is.
CB: What sort of responsibility do you believe streamers hold when it comes to the responsible gambling side of the industry? Has the community been prioritising player protection?
MP: All stakeholders have a responsibility when it comes to safe gaming, from the streamer, to the platform provider and the operator. I’d argue this has been a little overlooked as some operators and streamers have clamoured to maximise the potential of streaming ahead of their rivals, and this is ultimately why Twitch decided to ban certain actors from its platform.
For us, responsible gambling has always been part of the foundation of our platform and the experience we offer to players – that’s why Livespins sits within the casino lobby so that players have access to all of the safe gaming tools required under the operator’s licence.
Of course, there is always more that can be done, and I think over the next 12 months we will see significant progress made in how operators offer casino and slot streaming to their players in a way that is responsible and better protects the most vulnerable.
CB: How do you think Twitch’s gambling rule changes in October 2022 have shaped the igaming industry’s relationship with streamers in the past year?
MP: It’s been hugely beneficial for Livespins, that’s for sure. Following the rule changes, we saw a surge in casinos enquiring about Livespins and have since signed deals with some of the biggest names in the business including Yolo Group, Soft2Bet, GiG and many more.
Operators want to offer streaming to their players and Livespins provides a way of doing this that is responsible and compliant. I do think it made some operators more cautious about streaming, but we are working hard to address their concerns over the coming months so that they too can join the revolution and ultimately offer the new online casino experiences that their players are seeking.
CB: We’re now seeing streamers venturing further into the igaming industry, with some creating their own studios and slot releases. How do you see streaming’s impact on the casino industry evolving in the next few months and years?
MP: Streaming will only become further ingrained in the industry. Just look at how live dealer has changed the landscape to become a significant vertical in its own right with content providers such as Evolution morphing into absolute titans of the industry.
Streaming is still new, and we have yet to fully explore how it can be combined with slots and casino play – and perhaps sports betting – to bring fun, entertaining experiences to the widest possible player audience.
At Livespins, we are working on some incredible product updates and features that we will be rolling out over the next 12 months as we play our part in shaping the future of streaming in the casino industry.
