To Share or not to Share: All you Need to Know about Casino Transparency
Transparency with players is a hotly debated topic in the industry. On the one hand, transparency is something that modern players want and expect. On the other hand, it’s not clear what exactly transparency is in relation to online casinos.
Trueplay team offers to reach transparency through sharing GGR, as we’ve got unique loyalty programs that are based on the casino’s GGR. We are certain that it improves relationships with players, due to increased trust, and boosts casinos’ key metrics. Our Hold To Earn and Play To Earn loyalty programs (read more about them here) make players stay on the platform longer, deposit more, and come back more often.
Aside from clear benefits for casinos, players who use our loyalty programs are motivated to earn more by making more bets and multiplying their earnings. But it is only possible when players see real-time GGR on a blockchain explorer. Thus, they become more loyal to a brand, as they have no doubts that everything is transparent in this casino and each bet is being recorded.
Because the reward is a percentage of the casino’s GGR, a casino will need to share this data with players. We do agree that sharing GGR is not a common practice for online casinos, so this technology may raise a few eyebrows at first. We’re going to help you understand why transparency is so important in modern casinos, and how sharing GGR through Trueplay tokenized loyalty programs can help you make the most of your play.
Advantages of sharing casino’s GGR
Because there are many, we will break it down into chapters.
Sharing GGR can lead to increased player trust. This will attract more players who are interested in playing at your casino because they know they’ll get a better experience with you than at one of your competitors. More trust also means more revenue. Players feel more comfortable making deposits when they know exactly what they’re getting into.
Casinos can retain existing customers better if they feel like they’re getting their money’s worth from you every time they play at your casino. Because sharing GGR can help build trust between you and your players, this will increase their loyalty and make them more likely to stick around for longer periods of time instead of moving on after just one or two sessions of playing at your online casino. Players will also be more likely to return because they feel like they’re being treated fairly.
With the major tech progress in the online industry recently, it is hard to deny that sooner or later nearly every casino will use blockchain solutions or be open with clients in another way. If it’s a question of time, doesn’t it mean that the sooner your casino gets there, the better it is for your business?
Why not then?
No one wants to be a Luddite — a person who is against technological progress. But when it comes to business, company owners are very careful about lesser-known inventions as it’s difficult to invest in something you haven’t heard about.
But think about it. What would have happened to nowadays offices if companies’ CEOs refused from using computers? How would getting around work without modern maps and GPS systems? Medicine, house building, financial sphere — tech innovations are everywhere, and it’s hard to deny their convenience. So why should it be different in iGaming?
With thousands of regulations and daily appearing technologies, we can clearly see that online gambling is moving towards being open with players. Businesses based on human interaction and openness definitely win over those who don’t. Not wanting innovation means staying in the past. Is that something your casino wants?
How to jump in
At Trueplay, we offer a blockchain solution for iGaming that brings transparency and trust. With our tokenized loyalty programs, not only do players trust the casino more, but some major key metrics of the platform, including retention, may be highly boosted. Contact us for more information, or book a personalized demo to see how our product works.