Innovecs Believes Online Gambling Is Thriving, As Seen at ICE London 2019

#AR / VR
#Gaming & Entertainment
February 14, 2019 3 min read

Online gambling, also called iGaming, is a thriving industry, worth $137 billion, according to, and expected to grow by $73.5 billion by 2024. The US market alone, worth $30 billion, is expected to grow by 51% CAGR by 2020.

ICE – the only global B2B gaming conference bringing offline and online players – is a true reflection of this growth trend, as seen in last week’s three-day conference in London.

ICE 2019 perspectivesWith 10 sectors, 158 speakers and 5 parallel streams, Innovecs, attending the conference this year, could feel the energy and buzz, through the innovative 2D and 3D (and VR) games on display, the excitement around platforms – payment aggregators, data intelligence and AI – and partnership announcements.

So, what are the 5 major industry trends that we, at Innovecs, feel encapsulate the excitement at ICE this year?

1. Consumer demand is peaking

According to Rutgers Centre for Gambling studies, 10% of players spend $500,000 annually on betting, with the largest bet during one single day around $36,000. There’s an untapped demand for visually stimulating games, online and mobile – easy to use, colorful, with seamless UI and animation, recognizable and popular characters, and most importantly fair play.

2. Competition & Innovation amongst game providers is intensifying

In recognition of the peaking consumer demand, competition is intensifying amongst games providers and operators, and new entrants are emerging. Incumbents are transitioning familiar offline casino & slot games for online and mobile consumption and partnering with those, who provide fresher, more dynamic UI with add-on features such as level unlocks, positive rewards etc. As a result, business strategies are centering around tapping into addressable markets in mature and emerging (unregulated) markets, but also identifying and retaining high use consumers.

Saying all this, previous hot buttons around blockchain and VR seemed to feature less in this year’s ICE – perhaps an indication of over-hype or niche solutions. Fair to say, however, that gaming logic / ‘the Maths’ continue to remain proprietary, and 3D animation, 3D slots, Microgaming continue to feature as important trends.

3. B2B Platform plays on the rise

Within this ballooning industry, platform providers are tapping into a need from smaller or new entrants to reduce complexities and improve go to market through building valuable aggregation services – whether in payments, backend processing, licensing, or content management systems. Add-ons include credit scoring functionality, built-in to manage down AML and fraud within transactions.

4. Big data instrumental in (sports) betting

A part of the conference was dedicated to data intelligence and AI. Immense, scaled, and accurate data intelligence platforms (built from extracted and warehoused data – bets, sports data, results, user profiles) are building hype amongst operators and investors alike. The opportunity to maximize returns, reduce risk on bets through predictive analytics on future bets, more accurate profiling of target users, is becoming a commercial and viable reality in this industry.

5. Regulation and legislation are progressive and enabling

Mature gambling markets in Europe and North America continue to create enabling policies which encourage competition, innovation, fair, and socially responsible gaming. And as a result, these markets remain buoyant as they introduce licensing models (e.g. Isle of Man eGaming B2B licenses) to tackle inefficiencies in the market.

More emerging markets in LATAM and South East Asia are aggressively growing, whilst regulation remains light.

What does this mean for iGaming solution providers like Innovecs?

Innovecs delivers end to end games (from 2D and 3D Art & Animation, through to game design and platform development), and has a spirit of innovation in 3D slots, playables, and VR. Even for turnkey solution providers, like Innovecs, the opportunity to partner is clear.

The obvious challenge for the industry to meet the burgeoning demand and remain competitive is the shortage of skilled resources in their chosen markets, and then the risk of lost revenue opportunity. The simple answer is to look towards highly-skilled, experienced and cost-effective solution providers such as Innovecs, that has the ability to deliver discrete projects on time and within budget.

When it comes to Innovecs’ experience, our team has served such big-name companies as NeoGames, Gameion, Zynga, and Gameloft. Our gaming projects include slots, sports betting, blackjack, poker, keno, iLottery, scratch, and virtual reality.

Regulation and legislation are progressive and enabling

If you wish to talk to our experts, please contact:

Vishal Mathur

Chief Business Officer

Ian Beighton

SVP Business Development and Sales EMEA

January 14, 2021
Anastasia Osypova talks on the Employee Journey at Innovecs: from adaptation and motivation to professional development
Modern IT specialists are dynamic and active: they do not play the cards they’ve been dealt — they have goals, keep up with the progress, and are eager to learn new things and develop. This is why it is critical to understand their preferences and endeavors before providing a job offer to be able to motivate the employees in a long-term perspective and encourage productive collaboration. Anastasia Osypova, Head of People, Engagement & Culture at Innovecs, shares how our company motivates employees and helps newcomers adapt. Nastia, what are the responsibilities of the People, Engagement & Culture department at Innovecs? Our department focuses on the end-to-end Employee Journey in the company. Our goal is to retain talents at Innovecs and help them develop professionally. HR partners are always in contact with all employees which helps react quickly to the changes taking place in teams or processes. They also:integrate new employees in the corporate culture while minimizing the stress that can occur during the adaptation time act as change agents when it comes to implementing new processes or reorganizing the current ones help solve conflict situations determine potential areas of risks for business work closely with managers by building and implementing development and motivation programs in their teamsWhat makes Innovecs an ideal workplace? “Be sexy” was our 2020’ motto. We keep creating all opportunities possible to make the company an ideal place for our employees and potential candidates. For example, we regularly hold various workshops, training courses, and webinars on the basis of InnoCamp, our educational platform. We invite famous speakers as well as encourage Innovecs people to participate and share knowledge. WOW-program is another crowd-puller. It includes wow food, wow sport, wow mind, wow fun, and wow health directions. The goal is to care about the health and well-being of each and every at Innovecs. How do you maintain working relationships between employees and managers? This is a never-ending process. We do not have a multi-level hierarchy like the companies with a linear management model do, so communication at Innovecs is always transparent and unconstrained. It is important to synchronize the expectations of the team leaders and their team members. This is why we pay great attention to setting the right goals for employees as well as focus on the feedback culture. Managers hold regular stand-ups, daily meetings, retrospectives to analyze their work results, get feedback from colleagues and teammates. For employees to feel confident and at ease when communicating with managers, we are creating a favorable psychological climate within the teams. HR partners, in response, always keep their eyes on the ball, hold 1:1 meetings with managers and employees. In case they define any communication gaps, they create recommendations and the scenario to solve the problem. How does the company help employees to prevent burnout? According to the emotional burnout model by Matthias Burisch, one of its factors is over-performance (when a person gets engaged in the work more than necessary). To prevent the negative effect, the life-work balance principles must be followed. At Innovecs, we have a flexible working schedule as well as the possibility to work remotely from home. This allows our employees to spend more time with their families and do things they love. Soft skills development is another approach we have in place. This covers time management, communication, creativity, problem-solving, emotional intellect, etc. How do Innovecsers enjoy their life in the company? We have a gym in the office that operates 24/7. People can visit it anytime they want. We have fitness and box coaches, table tennis and football, gaming and VR rooms. All these help relax and refresh minds. SPA-zone with the best massage therapists is the cherry on top. Just make an appointment and relax at the end of the working day or in between the tasks.