iGamingCloud is an independent subsidiary of Gaming Innovation Group. In addition to managers, sales and operational people, it primarily employs techies and designers with a passion to create great Software-as-a-Service.
It’s quite a product giving you the tools and licenses you need to launch and operate a casino. We’ve focused on making a robust, reliable, scalable and high-availability platform. More importantly we put the end-user experience in focus. Casino players are tired of things like choppy spins, the lag that spoils winning spins at Net. Entertainment games, or the dreaded error-0 message on MicroGaming. There has been a wealth of these types of issues in our industry due to poor and outdated technology and this annoys players, as well as providers.
On iGC the games are performing great. After migrating Guts.com to the platform we’ve seen improved player values and with no downtime, people do not close their accounts in frustration when the site goes down during a bonus round. Since spins do not lag, they get to play more of them per hour. As they enjoying it more, they play longer. In fact, following the migration of Guts.com to iGC, the rise in revenues due to increased player values seems to supersede the fees Guts.com will be paying as a user of the platform.
Great user experience is one important value proposition out of numerous others and possible the most important; Flexibility. And flexibility is why we have an open and connected philosophy.
It means we will integrate any required app to our core platform service. That could be a casino game provider, CRM software or an affiliate system. If you need it, we’ll scope it, and do it. We are calling all these integrated apps an application economy. We will neither charge the client or provider for the integration. Our profit comes from a small share of the revenue. The operator keeps the lion’s share.
Providers of these apps typically charge a royalty. So if an end-user loses EUR100 with a game, hosted by an operator, the game provider would invoice the operator, for instance, EUR15. These royalty contracts are tiered based.
Our goal is to be a lean technological layer meaning we want to be a value-adding partner, rather than a cost-increasing middleman. So how do we do it?
By bundling the volume from our internal brands, with those of the clients, we are reaching respectable volumes allowing us great rates with providers. As such we are able to offer our application economy at a very competitive price point. From the provider’s end he gets to access a client ecosystem through one single integration and relationship. Hence we are saving the provider and white label time and money by leveraging technology and scale.
Our minimum contract value is EUR 120,000 annually and we charge a setup fee. When the revenue share based royalties exceed the minimum revenue share, we earn more. We also offer volume based discounts to our clients.
On the clients part they will save a programming department of some dozens of people, the time required and the extensive risk involved with creating and maintaining such a powerful platform themselves. In other words, we are significantly lowering the threshold to start up an iGaming business, while having the potential to provide larger operations with significant advantages of scale.
Contract lengths are typically five years rolling with a possibility for early termination upon six months notice. We want to retain clients on the merits of the product and the price offered. If they can do it better and/or cheaper, they should, and will, leave us.
We’ve had a goal of signing up between 5-10 clients to iGC this year. We’re on track to reach this goal and it is truly inspirational and rewarding to see the industry welcoming our product and business model. We will continue our work with creating a truly disruptive platform, as well as improving the price-point we can offer for the platform. Ultimately, it is about providing the greatest advantage of scale for our clients, which is why our mission is; «To make iGaming lean».