Although a reality today, online gambling—where users can skip the brick-and-mortar casino and still enjoy placing bets—has a history that is nothing short of a bumpy ride. Michele Ciavarella, the CEO and director of Newgioco Group [OTCQB:NWGI] explains, "Every aspect of online gambling is in the headlines today, but it has come a long way since the time the internet paved a new way for casinos to offer gaming entertainment products when their client is not physically visiting the casino property."The internet offered the allure for users to play from the comfort of their own home, personal space, or more recently their mobile phone. This opened unlimited channels for a great number of gaming operators to compete for those consumers by providing their products online. While it may have presented a great growth opportunity for casino operators, it also posed a major problem for government regulation and oversight to assure consumer protection and for taxing gaming revenues, since the internet has no physical boundaries.
Over the past 20 years, there has been a paradigm shift to a regulated industry away from wild, unpredictable and unbridled online gambling operators that sought—it seemed— only to capture as many customer bets as possible, rather than actually offering a fair entertainment product in a responsible manner. To this end, governments in many parts of the world adopted a "regulated path" to permit a free enterprise business model by licensing technology-based online gaming operators, controlling product flow, marketing, and advertising, customer protection, and fiscal responsibility. Newgioco is one such company that was formed when the Italian government began to regulate the market by offering license tenders to qualified betting operators. Newgioco developed its business in one of the toughest and most regulated environments as an independent leisure-betting operator, and over the years has honed its expertise in understanding the behavior of the bettor and how to modify its technology and delivery to suit the customers' needs.
In 2013, the company set out to create a fully integrated enterprise that would be able to suit the needs of independent online operators who want to provide unique products and services with local and regional flair. Newgioco has completed the roll-up of its gaming technology business from a client-facing perspective with abundant retail experience, knowledge, and the underlying strength for having developed in a country that has countless fragmented and unique betting regions.
What really differentiates Newgioco Group is their method of operations, which concentrates on a network of retail store owners who want to generate side revenue apart from the sales of sports or lottery tickets.
Our solution can combine a specific product line and technology without affecting the customer's and regulatory considerations adversely
Newgioco's unique technology begins with offering a shop-client architecture so that casino and gaming operator businesses can offer their own product line-up and be their own bookmaker without having to farm it out to a franchise bookmaker. The company also assists in creating an understanding of product marketing by leveraging their knowledge of regional users. Newgioco Group also assists retail operators in comprehending the end-user needs and relates it back to the gaming product and technology.
Newgioco Group's technology ensures the seamless flow of transactions from the moment that a gamer buys a ticket to the point where they want to redeem the profits. "Our strength lies in the way that we help the independent operators through our methodology, technology, and support," states Alessandro Marcelli, the COO of Newgioco Group. Further, the company tackles the problems from the operators' perspective and provides solutions accordingly, the basic idea on which the company's betting platform, Elys is designed. Newgioco Group leverages .NET to handle different systems on Microsoft and Octopus for deployment. Every functionality that the company provides is delivered on a single interface which creates scalability and efficiency. "We leverage RabbitMQ technology which is an orchestrator that routes the services between processes; it allows us to trace and help global customers in setting up a betting mechanism based on their business," states Marcelli. In their relentless pursuit toward enhancing the offering, Newgioco Group will also be moving to containers and meta-servers and will facilitate the service deployments. "Our solution can combine a specific product line and technology without affecting the customer's and regulatory considerations adversely," mentions Marcelli.
Advanced and Innovative Betting Platform
Being one of the first gaming companies to offer an artificial intelligence (AI) and business intelligence (BI) integrated platform—named Elys—Newgioco Group helps independent operators by providing a seamless and powerful dashboard on which they can incorporate their requirements. Through its state-of-the-art platform, Newgioco Group propels itself at the forefront of the betting industry. Elys guarantees efficiency, flexibility, and innovative customizable solutions for partners, agents, and end-users. With more than 150,000 events per season and more than 90,000 live events, Newgioco Group boasts a vast and highly competitive suite of bets, sports events, and gaming accouterments.
Elys benefits the operators by allowing them to customize odds and manage boards, limits, and bonuses. It also offers risk management and monitoring tools to help them create a safe and secure environment. Further, the platform provides end-users with two web channels, pre-match and live-center, and a mobile app for iOS and Android. Designed with attractive graphics and rich in content, these gaming modules have an extraordinary array of features that simplify account balance updates and allows for simultaneous access to the entire schedule. The interface is flexible and can be adapted to the needs of each retail shop client.
Keeping Pace with the Gambling Marathon
Marcelli states that while the Newgioco Group may currently have a smaller operation base than the other large operators in the UK, its technological competence and market-leading software steers them ahead of the competition curve. "This allows us to maintain a stable business globally whether it is in the Europe or U.S.," says Ciavarella. Going forward, Newgioco Group is banking on its proven technology to set out and venture into other parts of the world. In terms of product and capability, we are constantly incorporating the newest coding to make sure our platform Elyscan adapt to the newest technological gadgets, plug-ins, APIs, etc. Pasquini informs, "We are blockchain-ready and will apply that as the market deems it appropriate; and we are likely to be one of the first online operators to deploy new website technology for fully integrated betting solutions."
Over the past five years, Newgoico's management has witnessed a burgeoning opportunity with the suppressed U.S. retail leisure betting market and decided to establish itself as a U.S. listed company with base operations in a strong European retail core market. To that end, they are now positioned to list their shares on a national securities exchange. As the online betting industry develops and the regulations liberalize, Newgioco Group will be in a splendid position to expand. "The rapidly evolving U.S. market is our near-time geographic target, and we will be sticking to this prudent business plan," mentions Marcelli. The company intends to be an early mover into the U.S. market and believes that the market is still young in relative terms when it comes to the regulatory and technological aspect. In terms of the product capability, Newgioco Group constantly incorporates novel coding and ensures that their platform can adapt to the new technological gadgets with plug-ins and APIs. "It would take a few more years before the rules for leisure sports betting and online gambling are standardized in the U.S., and we believe that it's a marathon and not a sprint. Newgioco may take time to get established in the U.S., but will surely become one of the leaders," concludes Ciavarella.
Newgioco Group News
Newgioco Group is All Set to Explore the U.S. Gambling Sector
Newgioco Group, Inc., a vertically integrated enterprise, is a leisure gaming/gambling company. It primarily operates in Italy but has slowly expanded its operations across the globe.
FREMONT, CA: Newgioco Group, Inc. generates income by providing retail web-based and land-based gambling services and products in regulated nations. The enterprise also extends solutions for both the B2C and B2B markets.