EvenBet Head of marketing communications Gaming, Ekaterina Giganova highlights the opportunities and challenges of optimizing B2B products for Tier 1 markets and solutions for legalization.
Tier 1 countries are the most desired regions in 2024. This may bring the highest revenue, quality leads, and a big boost to the company’s reputation. Strict regulations may delay entry into the market at the same time by as much as five or more years. EvenBet has highlighted the importance of localization within iGaming in the GEO Adaptation article. It emphasizes regulatory compliance and cultural nuances.
Mature markets in Tier 1 are those that have already established their regulation processes and set clear working rules for online gaming products. These countries have established partnerships with operators. Activity tracking mechanisms exist to combat illegal operations while the audience has high purchasing power.
It is Western Europe and countries like the Netherlands, United Kingdom, France, Spain, and Malta. This list omits some southern countries like Greece and the United States. The USA is still an emerging market that has challenging issues with advertising and marketing activities in iGaming. This goes as well for attracting new players. No clear schemes are known about what the operator can use or not.
Industry observers understand that discussing B2B businesses in Tier 1 markets involves navigating a red ocean market with industry-defined boundaries. For new companies, the primary challenge is the established presence of key players like BetConstruct, Pragmatic Play, or Playtech. They have long occupied the niche and own a significant market share in both B2B and B2C. This causes challenges for newbies to enter the field with B2B products. Emerging businesses and products as a result, must look for new, non-standard approaches and ideas within their own niches, finding customers willing to step up standard, familiar schemes.
