Having launched in March, the immersive igaming brand LynxBet reports that it has since seen impressive uptake in several different markets.
In the run-up to the CasinoBeats Summit, we spoke CEO Jeremy Taylor about the metaverse’s impact on the brand, its use of cryptocurrency and how it plans to appeal to more casual players.
CasinoBeats: You have said that LynxBet is looking to offer “something alternative for players to explore,” why was this route of targeting casual responsible gamers taken? And how will this be achieved?
Jeremy Taylor: There is a huge demographic of player that wants a less aggressive, more easy-going but fun gambling experience that aren’t receiving the service they would prefer. Being able to cater to this substantial demographic effectively is why the initial onboarding of customers has been so straightforward for LynxBet.
As well as that, we simply stand out from the crowd. There are a lot of very similar white label brands out there, just coloured in slightly differently. Offering a brand that does something different makes the marketing process very straight forward and means the players we are targeting will soon hear about us.
If a brand’s site experience and overall offering is unique then word of mouth does a great deal of the work. This will naturally add to marketing efficiencies as well as retention.
To boost this further, we have established regional marketing teams and regional customer support to create a more personal player experience, enabled by significant marketing investment and local brand ambassadors, who we will be announcing in the near future.
CB: What influence did the metaverse have when establishing the brand? And will future developments within this space represent the ambitious nature of the brand?
JT: The metaverse is a very exciting space that captured our imagination. As a result, it felt like a great vehicle to inform an igaming brand as it’s colourful, fantastical and creative in its nature.
Its flexibility and its promise to evolve over time is also encouraging, with the ability to create your own environments be that actually in the metaverse or outside it but following a similar creative theme.
“…we look forward to developing and growing as the metaverse does”
This differentiation, and a very topical one, is something that the modern customer values a great deal, so by setting out to create our own mini-metaverse we hope to tap into that innate desire on our players’ part. As well as that, we look forward to developing and growing as the metaverse does.
What we need to remind ourselves of constantly, is that players are looking for escapism and a break from their everyday lives. The more immersive we can be with our offering the better, and this was the ideal stepping stone to achieve that.
Looking at the wider industry, it’s also a massive incentive for developers to up their game and create more immersive experiences. Otherwise, all the metaverse will just become is a gateway for gamers to play the same games they have always played.
On top of that, it presents a great deal of opportunity for land-based operations because being able to access a replication of the real casino in Vegas is very powerful, whether the player has been there before or not.
CB: How important was the implementation of cryptocurrency payment methods?
JT: It certainly represented a huge opportunity for us, with our sister company, FreeBitco.in – a free-to-play casino that gives away tiny amounts of Bitcoin, attracting over 49 million players. As this company was set up by our investors, it sets the stage for some extremely effective cross-selling campaigns for LynxBet.
We’re not a pure play crypto brand, but from what I hear those that have invested in that payment option, including allowing bets in crypto, are doing phenomenally well. It’s a route that seems to breed innovation and forward-thinking with these brands investing heavily in sponsorships and other marketing initiatives.
We are more in the middle ground, with the ability to deposit and withdraw in crypto, and the metaverse inspiration around the edges and our sister brand’s data base to tap into.
“There is a clear appetite for crypto-only casinos at the moment”
There is a clear appetite for crypto-only casinos at the moment, so I can see it a lot more investment into the space and for it to grow exponentially in the near future.
This is especially true as there are now a few avenues that are becoming clearer for different brands to take, with the Curacao gaming licence being one of the most obvious but also the Isle of Man.
CB: Which markets would you say the brand has resonated with most thus far?
JT: We are very pleased with how positively our brand has been received in Canada, and South America where a great deal of players have already immersed themselves in the land of LynxBet. Japan, India and other parts of Asia will be next to launch. It’s very gratifying to see that our innovative front-end design is resonating with customers in different regions.
CB: CasinoBeats Malta, at which you are set to participate as a speaker, is weeks away, what would you say you are most looking forward to at the event?
JT: There are a number of interesting talks throughout the event that I am looking forward to. The last two years have generated a huge amount of innovation in the industry. That was clear at the recent ICE London show and from our own new brand. I expect these talks to further highlight how the sector can evolve and grow over the coming years.