M ONT H I N M I NUT ES
QUOTE OF THE MONTH
“I am constantly amazed when talking to people about the levels of distrust and even dishonesty they experience from their software suppliers”
Michael Brady, CEO at Bede Gaming Read our interview on p34
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plays a key part in the future of online gaming. With a bit of creativity and a similar budget, a prize promotion with an insurance-backed jackpot could not only offer players multiple chances to win but also, for the game-owner, get players talking about the brand.
Competing using insured jackpots
> Matthew Butcher > Sales director and board director at PIMS-SCA
Gaming can be a risky business, especially for those starting out in the industry. Launching new sites and products requires deep pockets – and to attract players, those pockets need to be over?owing not just with cash, but with compelling games, huge jackpots and exciting promotions. Of course, as in any industry, there are ways that start-up companies can get an edge – but in the business of online gaming, there are no easy cheats for those looking to reach the highest levels. And, while it is a risky business, there are ways to manage those risks. Jackpot insurance has been used in land-based gaming, especially in North America, for decades. This type of insurance has enabled practitioners to run massive prize promotions offering multimillion dollar prize funds, while minimising their ?nancial outlay. Within this market, these insured jackpot prizes are predominantly used as part of wider promotional marketing, loyalty and player reward campaigns. The main objectives tend to be to give the brand an edge over the competition and to keep players interested in and – importantly – loyal to the brand. There is a burgeoning interest in jackpot insurance and one reason for this is that insurance enables small brands to compete with the big established companies in the jackpot stakes, without necessarily having the player base to support this. With the cost and risk of the jackpot being transferred, the gaming brand can concentrate on creating more compelling products – and the industry bene?ts from more competition, fresh blood and new ideas. The advantage of insurance is that it can be used to cover jackpots for almost any game of chance and even certain skill-related games. For example, we have insured jackpots for lotteries, bingo, poker, slots, roulette, blackjack, keno, scratch card and sports games, as well as promotions, which illustrates why insurance
“Insurance enables small brands to compete with the big established companies in the jackpot stakes”
Matthew Butcher is director of leading prize insurance provider PIMS-SCA and has developed the gaming and promotional marketing areas of the business. His main focus is to create new and long-standing relationships in the gaming industry while tailoring unique risk management solutions to suit clients’ individual needs.
Jamie Odell
CEO and managing director Odell joined in February 2009 after working as a regional managing director of Australian beer brewer Foster’s. Under his watch last year, Aristocrat posted profits of AU$91.7m for the first nine months of 2012 and revenue growth of 25.4% in the 12 months to 30 September 2012.
Gillian Findlay
General manager of group strategy and online gaming Findlay has overseen Aristocrat’s move into the online space, aided by major B2B licensing deals with Bally Technologies, SHFL, Ongame, Amaya and GameAccount Network. She joined Aristocrat in 2006, originally as group risk and audit manager.
Atul Bali
President of Aristocrat Americas Bringing a wealth of experience having worked for lottery and gaming firms, including a spell as president of GTECH G2 until 2010, Bali joined Aristocrat in June 2012. He succeeds former Americas president Nick Khin, who oversaw freeplay online casino deals with the Maryland Live! Casino and Michigan’s Island Resort & Casino.
Craig Billings
Managing director of strategy and business development Having held several senior roles at IGT, including chief of staff to the CEO and head of corporate development, as well as serving clients in the gaming industry as part of Goldman Sachs’ investment banking division, he became MD of Aristocrat’s strategy and business development in July 2012.
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