Blockchain technology has opened several doors to the global iGaming industry in recent years. One key area is loyalty programs, which terrestrial operators have been increasingly trying to incorporate into their online offerings since the pandemic. One of the companies that has specialized in developing solutions to meet this demand is True game.
Alex Antsyferov, Commercial Director to the company, tell Yogonet in an exclusive interview that Trueplay’s analytics team has always seen the gaming industry’s growing need for user loyalty, offering bonuses that can be received on an ongoing basis. He further explains how the company’s two loyalty programs –Play to win and hold to win– help forge a strategy for this, allowing gaming brands to issue their own crypto token.
He also notes the added value of transparency, given that all transactions are entered into the blockchain and anyone can verify them in Trueplay Explorer.
Could you share a brief description of Trueplay’s goal today? What are its main business strategies and priorities?
First of all, I would like to thank you for your interest in our company. Trueplay is a advanced marketing tool for the iGaming industry that helps increase the retention rate of gaming platforms. Today we plan to integrate our product in more online casinos, our team is seeing increased interest in the Trueplay widget and works actively to promote it.
Several major jurisdictions continue to regulate iGaming, most recently Ontario in Canada, and since the pandemic many traditional land-based casino operators have decided to launch or upgrade their online offerings. What are the differential strengths and competitive advantages of Trueplay in this landscape? How does it intend to capitalize on this dynamic?
The fact is that companies do not need to obtain additional licenses to integrate the Trueplay product. It’s a iFrame solution that integrates with a few clicks and does not affect the company structure. The pandemic has really made its own adjustments to industry trends – the number of online casino players has increased significantly. From now on, the challenge for platforms is to retain their users, that’s what Trueplay’s solution, which is based on unique loyalty programshelps to achieve.
What role do loyalty programs play in online gambling today, and what synergies can they create with land-based operations? Do you see trends among operators, but also players, in this area?
Loyalty programs are the most important element of online gambling, however, many choose to go the standard route and offer regular free spins or first deposit bonuses. In the end, the statistics of new users increase, but the indicator of the return of the player to the platform after the withdrawal of the bonus is disappointing. Trueplay’s analysis team has always observed the growing need of the gaming industry to build user loyalty, to offer such bonuses which can be received on an ongoing basis. Moreover, these bonuses must be used on the platform to get even more benefits.
How do tokenized loyalty programs work? What types of products and technologies does Trueplay offer today in this vertical, and how does each meet today’s operator demands? Where are the Provably Fair and Transparency factors in your product offering, and how do you assess their added value in your customer acquisition?
Trueplay offers quick and easy integration of two loyalty programs – Play to win and hold to win. Why are they tokenized? It’s simple. Gaming brands using our solution can issue their own crypto token within hours and delight their users with the opportunity to become participants in the global crypto market by playing their favorite games.
The thing is, the Play To Earn program is all about receive tokenized cashback for every bet made, whether winning or not. As a result, players have the motivation to play on the platform with which their balance will never be zero.
The tokens received can be multiplied, and just for this, a second loyalty program was created – Hold To Earn. If you are familiar with classic crypto staking, then the same working principle is here. Users can choose the holding period and, depending on their share in the pool, receive additional tokens. Their reward depends on the income of the casino, and if the income at the time of holding is negative, users get all of their tokens back.
This approach meets the modern demands of gaming platforms, as the Trueplay solution is highly customized online casino owners can manage reward percentage, pool size and holding periods. They don’t need to spend a lot of time negotiating with developers, because in seconds they can change their strategy and increase their results!
As for the transparency, that’s my favorite part. Since the Trueplay product is based on blockchain technology, we have achieved the maximum level of transparency. All transactions are entered into the blockchain and anyone can verify them in Trueplay Explorer.
Therefore, players trust the casino, make bets more often, receive chips for this, multiply their chips and return to the platform to repeat these actions. In turn, the casinos get a loyal user base with a high return rate.
What metrics do these technologies help improve for operators, and how? Could you cite recent examples or case studies?
The Play To Earn and Hold To Earn loyalty programs aim to increase retention rate and other key KPIs. For instance, our partner online casino Fairspin has improved betting volume, betting distribution, deposit volume, deposit amount, retention rate and LTV. I will give an example of the growth in volume of deposits after the integration of the Trueplay solution in Fairspin. In December 2021, casino players who do not use the possibilities of loyalty programs made deposits of $1,122,657, while users of Play To Earn and Hold To Earn showed a result twice as good! From this follows the conclusion that our solution motivates players and this is a long-term story.
Why did you decide to include casino revenue in the equation and tie it to rewards to drive retention strategies?
It is an additional motivation for the players. When players see that the casino revenue is high now, they will willingly put in more chips in Hold To Earn in order to get a bigger reward. And the casino, by sharing their data, motivates players to come back to the platform and make bets, because for each they receive chips. It’s a win-win scenario.
What types of payment methods and technologies do you work with?
Trueplay offers a Keep solution for gambling businesses, helping to enter the crypto market without any hassle. With our product, casino users can pay with USDT, BUSD and any other BEP-20 tokens and virtual currencies. Moreover, our integration tools – API and personal admin panel are designed for comfortable payment management. Users will enjoy an elegant user interface and an intuitive payment experience!
Players can top up their balances for any amount in crypto at any time, we convert it to fiat equivalent and credit their balances on the fly. Ideal for iGaming and betting.
Also note the simple cryptocurrency deposit tied to a specific fiat amount that needs to be settled in a short time. Ideal for e-commerce.
Easy to integrate solution, instant transactions. Only transparent pricing with no hidden fees and no markup on exchange rates.
Do you plan to attend any industry events in the coming months to showcase these products?
We have great plans for the near future! Our team can be found at major industry events such as the SBC Summit in Barcelona, 20-22 September. There we will be happy to meet future partners and discuss the Trueplay solution in detail. In addition, our team plans to visit SiGMA Malta, from 14 to 18 November, where we will have a stand. The we will show our DEMO and everyone can learn how loyalty programs work in practice. However, to save time, you can book a demo now to see the widget and how it can help your platform achieve your business goals.