Ihave never cared much for convention, always looking instead for that proverbial “third way.” It’s a trait likely shared by most entrepreneurs, and, simply put, is a prerequisite for true innovation. The current betting platform market
is in dire need of a third way. Today’s choice is either (i) a proprietary bespoke system or (ii) a standardised white label solution. Let’s consider the pros and cons of each:
- Possibility for first-to-market innovation
- Competitive differentiation
- High up-front development costs
- Lengthy development cycles
- Low set-up and development costs
- Quick to market
- Little differentiation
- Higher marketing costs
It feels like a zero-sum game – pay less on set-up but a fortune on marketing, or save on marketing (by offering a unique platform that doesn’t require the same promotional “frills”) while paying dearly for ongoing development.
Of course, looking no further than the many successful operators in the market, either approach can work. Case in point, Bet365 invested enormously to build its platform from scratch, making it today one of the largest and most respected gaming companies in the world. But for every such success story, there are hundreds of failures – those who made the massive up-front investment only to find themselves unable to support ongoing development costs, and winding up with a platform that’s virtually obsolete in only a few years’ time. We are seeing this today, where converting legacy technology to be seamlessly compatible with smartphones is, for many operators, not commercially feasible.
The standardised, one-size-fits-all platform is therefore the safer option – a product that will tick most of the “satisfactory” boxes for your average consumer. But to maintain long-term success, those operators must ultimately ensure their marketing strategy is more exciting than their service.
Is there a solution?
When it comes to betting platform options, I believe the “third way” is outsourcing third-party source code. An operator can secure a perpetual license to code that powers both the front-end (client) technology as well as the back-end transaction engine, all integrated into the operator’s own or third-party server. These integrations can further be streamlined via well-defined APIs, providing a distinct advantage over existing solutions that rely on legacy technology.
The outsourced-code solution, which has been developed by Metric Gaming, offers an attractive alternative to the “zero-sum” pros and cons of today’s conventional options. The costs and time needed to get to market are slashed. The overhead required for a large in-house development team are eliminated. And there’s the opportunity to offer a truly individualised product – a far more compelling competitive arena than the ubiquitous “battle of the bonuses” among today’s while label operators.
Because Metric’s unique betting products are incorporated into the client source code, this solution creates a one-stop shop for the company’s first-to-market products. The Metric platform is further designed for flexibility, leveraging Metric’s existing relationships with third-party suppliers to ensure best-of-breed content and broad optionality, while further granting operators the freedom to integrate any other third-party content they wish.
I’m betting this solution will prove to be a winner for those who want to give their customers an experience to remember.