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Peter Thiel-backed big data analytics startup Palantir files to go public; reported a loss of $580 million in 2019

We covered Palantir Technologies back in February after the Peter Thiel-backed big data analytics startup secured a four-year contract worth as much as $823 million to provide software to the Department of Defense. Just a week earlier, Palantir won a whopping $800 million Pentagon battlefield […]

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We covered Palantir Technologies back in February after the Peter Thiel-backed big data analytics startup secured a four-year contract worth as much as $823 million to provide software to the Department of Defense. Just a week earlier, Palantir won a whopping $800 million Pentagon battlefield intelligence contract, beating out traditional defense contractors.

Following its recent successes, Palantir announced in an SEC filing Tuesday that it has filed to go public through a direct listing. Morgan Stanley, Credit Suisse, and Goldman Sachs are among the financial advisers for Palantir’s listing.

As part of the filing, Palantir also reported a net loss of about $580 million in 2019, about the same as its loss in 2018. Revenue came in at $742 million last year, compared to $595 million in 2018. In the first half of 2020,  Palantir posted revenue of $481 million, up 49% from the year-earlier period.

“Notwithstanding losses, its business model continues to leverage off existing clients by offering more value through better data on longer duration contracts,” said Matt Novak, managing partner at All Blue Capital, a Palantir investor.

Palantir was founded in 2003 by a handful of PayPal alumni and Stanford computer scientists including Peter Thiel, Alex Karp, Joe Lonsdale, Nathan Gettings, and Stephen Cohen. Palantir’s mission is to solve the most important problems for the world’s most important institutions.

Its software lets its customers integrate and analyze all of their data so they can answer questions that they couldn’t before. From delivering disaster relief to building safer automobiles, the company is honored to help make its partners better at their most important work. The company has been rumored to be considering an IPO this year, with the most recent valuation of $20 billion.

Palantir is known for three projects in particular: Palantir Gotham, Palantir Metropolis, and Palantir Foundry. Palantir Gotham is used by counter-terrorism analysts at offices in the United States Intelligence Community (USIC) and the United States Department of Defense, fraud investigators at the Recovery Accountability and Transparency Board, and cyber analysts at Information Warfare Monitor, while Palantir Metropolis is used by hedge funds, banks, and financial services firms.

Since its inception in 2013, Palantir Technologies has raised more than $2B in funding over 22 rounds, according to public funding data. The company’s name is derived from The Lord of the Rings: a palantír is an artifact used to communicate with or see faraway parts of the world.


Source: https://techstartups.com/2020/08/26/peter-thiel-backed-big-data-analytics-startup-palantir-files-go-public-reported-loss-580-million-2019/

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India’s Trillion Dollar Digital Opportunity – Illusion or Certainty?

On Thursday, Amitabh Kant, Niti Aayog CEO (1), stated that digital infrastructure is now indispensable for society’s functioning. India can create 1 trillion USD economic value using digital technology through 2025.  While addressing a virtual event organized by industry body FICCI, Federation of Indian Chambers of Commerce and Industry (2), Kant added that the COVID-19 […]

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On Thursday, Amitabh Kant, Niti Aayog CEO (1), stated that digital infrastructure is now indispensable for society’s functioning. India can create 1 trillion USD economic value using digital technology through 2025. 

While addressing a virtual event organized by industry body FICCI, Federation of Indian Chambers of Commerce and Industry (2), Kant added that the COVID-19 pandemic had offered a thurst to the ever-growing digital foundation. 

“Digital infrastructure has become imperative to the functioning of society – India can create USD 1 trillion of economic value using digital technology by 2025,”

– Amitabh Kant, CEO Niti Ayog (3).  

He further added that digital infrastructure has emerged as a significant infrastructure compared to traditional infrastructure necessities such as road and power. It has become essential for India to grow its digital infrastructure to use frontier technology in economic development. 

Kant also emphasized that the digital is the future, and if India wants to improve the social sector or health sector, then going digital becomes necessary. The CEO also highlighted that the global electronics market worth is estimated at 2 trillion USD, and India’s share in the market grew to 3% in 2018, from 1.3% in 2012 (4). 

Even though it is still considered minuscule, the government came up with PLI, a Production-linked Incentive scheme for the electronics industry. The industry needs to utilize those schemes and contribute to the ecosystem. He added that since India is rising in the GII, Global Innovation Index, there is an immediate requirement to build a local supply chain (5).

However, India still has a long roadmap to built so its digital economy can unlock productivity and value via transformative infrastructure, applications, and ecosystems. Its journey towards the digital revolution has only started. It is up to us to shape the vision into reality and make India a global digital leader and a role model for the world.  

India’s Digital Opportunity

According to a recent report (6), India can create more than 1 trillion USD economic value from the digital economy by 2025 from about 200 billion USD at present. 

The MeitY, Ministry of Electronics and Information Technology (7) released the report. It takes stock of the digital changes underway in the country and outlines a roadmap for the next few years.  

Notably, India’s digital consumer base is the second largest across the globe and is rapidly growing. The government’s digital model reduces the division and brings technology to even its most remote areas.  

According to the report, over 50% of the potential economic value of the 1 trillion USD can come from new digital ecosystems in several sectors, including financial services, healthcare, logistics, agriculture, e-governances, and jobs. 

Digital India (8) is the government’s flagship program, and there is no denying that it has been transforming the country into a digitally empowered community and knowledge economy. Thanks to government initiatives and smartphone penetration, the technology adoption rate increased rapidly between 2013 and 2018. 

The country recorded 1.22 billion Aadhaar registration, 870 million Aadhar-linked bank accounts, and 98 million daily e-government transactions during the period (9). With the foundation, India can further expand its digital economy. Prominently, India has about half a billion Internet users, and it would create a massive market for digital services, applications, platforms, content, and solutions. 

Radically, India can see a five-fold expansion in economic value via digital transformation in 2025 by representing local and global businesses’ opportunities. It also includes startups and innovators to invest in arising technologies like AI, drones, or blockchain in customized ways according to the country’s need. 

Notably, India is the second-faster growing digital economy among the leading economies across the globe, according to the Digital CountryIndex report (10). It is based on metrics measuring digital adoption in 17 mature and emerging digital economies such as Brazil, China, Russia, Indonesia, South Korea, the United States, and Sweden. 

The report recognized ‘thirty digital themes’ that can scale up nationally to boost nine priority areas’ progress. For progress, the country needs to build robust IT infrastructures, software capabilities, and technology to serve vital national priorities such as education, healthcare, energy, financial services, and e-governance. 

The report also stated that India’s future digital economy could generate productivity and enough output to support 55 to 6o million workers in 2025. To achieve this, Team India requires concerted action with collaboration between the private, social, and government sectors. 

Additionally, digital technologies can change work and create demand for new types of skills and job roles. Apart from solution providers and digital coders, many kinds of work would become digital, and it would make it necessary for employers to give IT skills training to their workers. For instance, delivery personnel and drivers in the logistics and transportation sectors, advisory service agents in areas like agriculture and financing, and healthcare workers would need training.

India can also work in IT and telecom infrastructure and services, energy, e-governance, education, and next-gen financial services. 

“India is at an inflection point — digital has changed the way people communicate, socialize, create, sell, shop, and work. India is poised to be a game-changer in the digital world economy by empowering its citizens and revolutionizing businesses.”

– Prashant Singhal, Emerging Markets TMT (technology, media, and telecom) and Leader, EY (11).

The Key Findings

According to the report, India is among the top three global economies by digital consumer volume. Moreover, India also has the second-fastest growth rate of digital adoption in our comparison set. India’s digital index score has mored to 32 in 2017 from 17 in 2014 (on the 0 to 100 scale). 

It is the second-fastest rise after Indonesia. India has also performed well on e-governance and digital identity, digital media uptake, and mobile internet access growth. 

Notably, India can create up to 1 trillion economic value from the digital economy in 2025, with half of the opportunity in digital ecosystems. It can spring up several sectors in the economy. 

At present, India’s digital economy generates nearly 200 billion USD annual economic value. By 2025, India can create a digital economy of 800 billion USD to 1 trillion USD, equivalent to 18% to 23% of its nominal GDP. 

“I see India turning into a billion-dollar economy in the upcoming three years.”

– Ravi Shankar Prasad, the Minister of Communications and Information Technology (12)

However, there is no certainty that the digital economy would capture the potential value. India cannot achieve the goal without significant, decisive, and speedy action by the government to work with the business sector. 

It needs policy platforms and platforms; otherwise, India would be on a business-as-us trajectory, which would create an economic value of 500 to 650 billion USD, which is less significant than the 1 trillion USD possible full potential scenario.

Essential Principles

India needs five essential principles to secure its places in a borderless digital world with innovation, capital, data, and design capabilities with the fewest pain points. 

The Indian government needs to adopt certain principles to become the global digital factory, narrowing the digital economy’s trade deficit and innovations. 

The Indian government is committed to making India one of the 50 easiest countries to do business, and it has beginning to show results (13). In 2018, the World Bank’s ease of doing business rankings showed India rising an impressive 23 places and coming in at 77th rank. Its ranking leap is significant, considering that India had improved its level by 30 spots in the previous year. It made India in the top 10 jumpers and the only one amongst large countries (14).  

India should build on the momentum and aspire to become the top 10 countries worldwide for digital businesses and startups. It must set time-bound and concrete goals. For example, as in New Zealand, entrepreneurs should start their business in less than a day. It can be achieved by making compliance needs digital and should require minimal time. 

Moreover, domestic saving can also complement the massive amounts of FDI, Foreign Direct Investment, foreign institutional investment, and investment driven by HNI, high net worth individuals into the technology sector. 

The government can engage more proactively by funding digital-focused startups and rationalizing tax rates to make startups investment more favorable than the public markets. 

“India will be an inescapable competitor in the digital economy, and it will be competitive with any country across the world.”

– Sunder Pichai, CEO of Google (15).

Moreover, the Indian government needs to facilitate innovation via several initiatives that conform to the open-API guidelines of the Meity. It would ensure that users have the flexibility to employ raw and processed data according to their objective and interest. It would foster an innovative environment. 

The government is a comprehensive service buyer, and it can also act as a market maker to create a scale for the country’s best technology and innovations applications. Additionally, the competitive advantage for the future digital economy prevails in design development and innovative and creative workplace skills. And for that, India needs to have vibrant higher education institutes that work closely with the industry.

Massive Digital Consumer Base

India had over 1.2 billion mobile and 560 million internet subscriptions in September 2018. The time Indians have spent per user on social media is 17 hours per week, which exceeds both China and the USA (16). India observed rapid digital adoption between 2013 and 2018, with more than 207 million Indians going online in the duration. 

The government’s commitment to digitizing critical aspects of the economy and private-sector innovation and investment to promote internet access and use drove India’s digital adoption. 

The Indian government measures include a rapid ramp-up of Aadhar and its subsequent linkage to pay welfare benefits. A suite of open APIs like UPI; Unified Payments Interface, BHIM; Bharat Interface for Money or Bharat QR code for payments, DigiLocker for online document access and retrieval, eKYC; electronic Know Your Customer for electronic verification of customers’ identities, and the Bharam Bill Payment System formed a part of India’s strong digital foundation. 

The government also triggered the growth of digital payments via the launch of Pradhan Mantri Jan-Dhan Yojana, the national financial inclusion drive in 2014, the demonetization of high-domination currency notes in 2016, which promoted digital payments. And Goods and Services Tax legislation in July 2017, which is expected to propel nearly 10.3 million businesses onto the digital GSTN portal that records sales and transactions data. 

Similarly, global technology giants like Google, Microsoft, Facebook, and Netflix are creating services customized to India. India’s digital growth is evident when we compare it with global leaders.

Befitting All Hands

The Indian government is aspiring to provide its people with affordable and ubiquitous digital access and the internet. It could enable the country to establish a vibrant digital economy that could create up to 1 trillion USD economy by 2025 and pave the way for India to become a global digital factory.  

“Having your apps talk to one another and facilitating a seamless flow of data plays an important role in any business today.”

– Girish Mathrubootham, Founder and CEO of Freshdesk ( 17)

According to the report, there are 30 digital themes for India, aligned to nine pressing areas of the country. These themes can raise productivity, remove barriers, and unlock efficiency to grow and improve millions’ life quality. Even if these digital interventions are not sufficient to meet the nation’s goal, they can help accelerate the progress if implemented at the range.

It includes a robust technology and telecom sector, a critical foundation for an emerging digital economy. Secondly, making government-to-citizen, G2C and Government-to-business, G2B services more useful and accessible. E-governance can also significantly reduce the cost of doing business in India. 

As per the experts, it may become mandatory for physicians to use tech solutions to offer second opinions about patients’ procedures. The software could soon rise as the most prominent healthcare provider, thanks to significant technological advances in healthcare. It could create a bedless hospital, as to how Airbnb has emerged as the biggest hotel chain without owning a single room. 

Over the years, India has made massive investments to improve education access and increase enrolment. However, there are stagnated learning outcomes. Digital channels and content could offer a robust opportunity to bridge gaps such as access and improve learning outcomes. 

Moreover, India’s power sector has focused on improving access, but new reforms like the Integrated Power Development scheme promote IT use to strengthen transmission and distribution. Such digital transformations will expand the focus from access to consumer-level reliability and power supply quality. 

Notably, India has about 60 million micro, small, and medium-sized enterprises, and most of them are in the informal sector. They mostly depend on cash transactions and their sources of finance for growth. However, with next-generation financial services, formal and modern financial services to all economic sectors would be more accessible. 

However, India’s 1 trillion USD digital economy would remain a dream if it won’t significantly impact agriculture. Notably, agriculture accounts for approximately 18% of the country’s GDP and employs over 45% of the workforce. Raising farmers’ income and boosting their financial security is one of the highest priorities of the government. 

To establish a dynamic economy, India must improve its productivity and global competitiveness in manufacturing, trade, and logistics. And for that, India would need to make full use of its demographic dividend and build opportunities for the workforce. 

It is worth highlighting that these questions are not futuristic or improbable since most of them are already under demonstration or pilot programs. Accelerated implementation and adoption of such solutions is essential for India to become a 1 trillion USD digital economy by 2025 (18). 

The Challenges

India’s challenge to become a 1 trillion USD economy is that it is not inevitable and needs to meet several prerequisites and the good governance and executioners to move towards the goal. 

The challenge becomes even steeper when building new and emerging digital exosystems like flow-based lending, tech-enabled healthcare system, and digital platforms to offer new-age skills and give job opportunities. However, these themes’ profitable business models are yet to be fully developed and rolled out at scale. 

Moreover, the policy and regulations for these areas are also uncertain at this point. Hence, the government must work with the private sector and build collaborative working models to push investment and innovation and realize the vision (19). 

It is worth highlighting that if India is not well-positioned in the global digital diffusion race, it could face a splaying ‘digital deficit’ in balancing trade, capital, and intellectual property. And the government could take several actions to boost its digital economy and mitigate the digital deficit risks. 

The government must be committed to improve the ease of operations and reduce the cost for digital businesses. Especially when digital companies offer a useful testbed for the government to standardize, streamline, and compliance procedures. 

The government can also work with business entities to develop market-friendly standards, regulations, and platforms in specific domains as the Reserve Bank of India. It had set up payment processing with the National Payment Corporation of India (20) with private and public sector banks’ involvement as stakeholders. 

There are several conditions for the success of each digital themes. However, the nation won’t realize its full economic value without stakeholders taking action to address obstacles and put catalysts. India needs concerted efforts and new mechanisms to form an association between government and businesses. 

Digital Transformation

Besides supporting the policies and regulations, India also needs partnerships and collaborations. The central government, state governments, private sector, and social sector organizations can bring complementary capabilities and assets to public-private-social associations. 

For instance, while building digital infrastructure and training healthcare workers, the government can lead some digital transformations and business-enabled. In contrast, others could be business-led, and government enabled. 

India can also set up consultative forums specific to respective sectors to engage the country in digital transformation. The government, with participation from the private sector, can lead these councils. Initially, there could be a few councils, such as technology infrastructure, healthcare, skills training, education, transportation, logistics, and agriculture. Each of these councils would include representatives across the value chain. 

They could offer inputs for each sector’s digital strategy to evolve and suggest methods to streamline and simplify regulation and compliance to promote the ecosystem’s growth. 

India can also create a digital dashboard to measure progress on results across existing and future digital initiatives. It would also serve as an essential barometer of the evolution of its digital economy in the years to come and be a tool for reviewing, streamlining action, and shaping future policy. 

India’s digital transformation is expediting, and it has the potential to thrust the country to new heights. The government could build on the already made dynamism by working with all stakeholders to widen and scale its digital economy in the upcoming years. 

Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She’s currently working as a content writer and is always interested in a challenge.

Source: https://timesnext.com/indias-trillion-dollar-digital-opportunity-illusion-or-certainty/

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Is Etergo’s acquisition brewing trouble for Investors?

Ola Electric Mobility Pvt Ltd had announced (1) the acquisition of Etergo, the Amsterdam-based electric scooters company. Ola Electric aims to leverage the design and engineering expertise of Etergo with this acquisition to develop its smart electric two-wheeler for foreign and national markets, with the launch in India scheduled for 2021. Ola did not reveal the […]

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Ola Electric Mobility Pvt Ltd had announced (1the acquisition of Etergo, the Amsterdam-based electric scooters company. Ola Electric aims to leverage the design and engineering expertise of Etergo with this acquisition to develop its smart electric two-wheeler for foreign and national markets, with the launch in India scheduled for 2021. Ola did not reveal the acquisition’s financial information. (2)

The most effective and cleanest solution for urban mobility is electric two-wheelers, which will become even more critical in the post-COVID world. Ola Electric aims to turn the 100 million+ worldwide two-wheeler industry, including the 20 million+ Indian two-wheeler market, into renewable energy, a digital future with European architecture, deep engineering cooperation, and India’s manufacturing and supply chain. Ola Electric (3) worked to develop an electric vehicle ecosystem to make ‘clean kilometers’ on a scale. Ola Electric is currently organizing several pilots to introduce electric vehicles and charging solutions across cities, focusing on 2 and 3 wheelers, with plans to set up complete charging and swapping networks across the country. The business aims to create a suite of electrical and intelligent urban mobility solutions for global people, both in India and worldwide.

“The future of mobility is electricity, and the post-COVID world presents an opportunity for us to accelerate the global adoption of electric mobility,”

said (4) Bhavish Aggarwal, Founder & Chairman, Ola Electric.

Compared to cars, almost twice the amount of two-wheelers are sold worldwide last year. With electric, digitally linked capabilities, two-wheelers will continue to emerge as the world’s most common urban mobility paradigm and empower every user.

We look forward to developing the best global engineering, design, and production capabilities for these products manufactured here. He also said,

“I am excited to welcome Ola Electric to Bart, Marijn, and the whole Etergo team and look forward to working closely with them to build on our vision of making electric mobility a reality on a scale.”

Etergo (5) was founded in 2015 to revolutionize intelligent transport, accelerate the global transition to sustainable mobility, and develop healthy and environmentally friendly alternatives.

AppScooter – Etergo’s venture into a new future

The AppScooter is part of the broader, laudable goal of Etergo to speed up the transition towards renewable energy. (6) The scooter is on its way to make a better list because it can also be a secret killer, despite being a brilliant commuting option for our cities. A recent Nature Magazine survey found that a substantial source of particulate matter and toxic organic compounds are the rich combustions of two-stroke scooters. They are more harmful than vans or buses in some developing cities, but it is estimated that 500 million motorized two-wheelers will be sold between now and 2030. Therefore, If Etergo could nail the zero-emission AppScooter, the skylines of Beijing, Bangkok, and Barcelona could genuinely move from smog clouds to smug clouds. (7)

Working and Technology of the AppScooter

To interface with the digital monitor and your phone, the AppScooter features built-in controls directly on the handlebars. The touchscreen enables Android apps to be used while protected. The AppScooter also has two built-in cameras designed to capture your journey’s video and share it quickly on social media. Still, it could also be used for dashcam purposes. The complete 65 liters storage area of AppScooter. (8)

The AppScooter is also well designed in the mechanical and electrical divisions and the fancy features. The AppScooter skips the hub motor and hires a mid-mounted motor with belt drive, unlike many other electric scooters. Depending on how fun you want your commute to be, engine choices on the scooter vary from 2 kilowatts up to 7 kilowatts. The power converts into incredible acceleration, which is just 3.3 seconds exceed 45 km/h. A tremendous urban mobility vehicle with a 7-inch touchscreen display, Bluetooth networking, and mobile device app integration (usable only when the scooter is stationary), all at a reasonable price, starting at 3400 euros. The AppScooter electric scooter allows the driver to speak securely on the phone without taking their hands off the handlebar and to connect their mobile with the Android device to the monitor through Bluetooth. (9)

Trouble for Ola etergo versus Investors?

The acquisition of Etergo by Ola electric on May 27th has caused many problems. First of all, Etergo had been at the capital of 90 Million. The purchase was made at a time where the sale was a loss for Etergo. Here are the basics: (10)

This what they have to say on their investors’ release page: “In the recent past, Etergo has been in talks with several investors around the globe, including Ola Electric, to secure potential funding. Other than the discussions with Ola Electric, these discussions did not lead to any offers that provided a practical opportunity to finance the company’s operational and other requirements and safeguard the company’s future. As a result, the business faced the need to protect its continuity and avenue for potential growth and financing. Given the reality as mentioned above and due to the challenges raised by the steep, funding requirements for automotive hardware and the continuing crisis of COVID-19, the opportunity to partner with Ola Electric has emerged as the best course of action to secure the future of Etergo and AppScooter, while trying to preserve the ability of the organization to implement the vision of Etergo. Thus after due consideration of the alternatives, Etergo has realized that it is in the best interest of Etergo and its workers.”

The statement means a loss will amount to each share for the dividend that is earned by the investors. Owners Bart and Marjin had to waive their consideration over the claims and sell the following shares for 0.0179986 euros per share. The agreement for the sale of Etergo to Ola Electric was authorized by all other shareholders other than the foundations in which Etergo’s crowdfunders hold an ownership interest, which is contractually bound by the foundations to co-sell on behalf of Etergo’s crowdfunders under the same terms and conditions as the other shareholders and the owners continue to remain employed with Etergo.

My passion is Reading and writing. Basically, an optimistic introvert. Always striving to be better. Writing as a passion leads me to become stronger and focused.

Source: https://timesnext.com/is-etergos-acquisition-brewing-trouble-for-investors/

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Challenges facing the sports betting and gaming industry and how to overcome them

Since 2018, we’ve written at least over a hundred articles covering the gaming industry. The gaming space has grown exponentially without signs of slowing down. According to a recent report by Newzoo, the global gaming market will generate $159.3 billion […]

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Since 2018, we’ve written at least over a hundred articles covering the gaming industry. The gaming space has grown exponentially without signs of slowing down. According to a recent report by Newzoo, the global gaming market will generate $159.3 billion in revenue in 2020. The rapid rise is fueled by technological advances such as virtual reality, voice, and motion control, augmented reality, and blockchain technologies.

In 2019, the iGaming sector alone was valued at around $53.7 billion with its subsequent annual growth rate predicted to reach 11.5% by 2027. With the rise in technology, internet adoption and the popularity of sports betting comes new challenges and threats. For example, sports betting such as casinos, continue to face the government regulatory burden of operating in the country.

Below are four of the major challenges faced by online casinos and the sports betting Industry. We also discuss how to address and solve these problems.

Modern Corporate Threats
Technology is precious to our world, producing anything from new apps to eco-friendly bricks. Its positive contribution to the iGaming sector is extensive, but its pitfalls are just as widespread. They come in different forms and impact performance, marketability, and security. Let us take a closer look at what this means and how problems can be countered.

1. Slow Innovation
The entertainment of online casinos is related to video games. Both industries function in the digital world and need similar technologies for graphics, responsiveness, compatibility, and so on. Gambling businesses, however, do not make full use of the latest and greater gaming tech, often because their products just work differently. For example, while Star Trek, Tetris, and other brands already thrive as VR titles, online casinos are slow to embrace the platform, curbing their cross-platform marketability.

Unique gambling-themed entertainment is gradually appearing thanks to the likes of Oculus and Steam. Until the industry merges properly with such popular mainstream technologies, it has introduced innovative solutions of its own. In an effort to make games like blackjack and roulette more immersive when playing at home, operators like 888 casino offer live-streamed entertainment, with real flesh and blood dealers playing from physical studios featuring multiple camera angles and a high definition video stream which captures all of the action up to 200 frames per second, the technology brings players closer to the action, making it an unforgettable experience when you play their wide range of live casino games.

2. Overwhelming Digital Presence

Despite limits to their services, online casinos provide a huge range of entertainment. Almost all classic games of chance have turned into successful digital versions, which constantly improve due to developers passionate about their work. The threat here is with web designers, who can easily be carried away while trying to introduce countless products at once. An effective digital presence is essential in today’s market, so a cluttered, over-stimulating domain that drives customers away instead of attracting them can seriously damage a brand.

The obvious solution, which online gambling providers increasingly adhere to, is to organize websites in a clear, fun, and user-friendly manner. If there are many services to choose from, for instance, short and sweet listings or occasional promotions of highly-rated titles are generally considered good practices. It is also wise to stay up to date with what target audiences enjoy or find frustrating. This helps maximize a domain’s potential, not only in drawing players in for the right reasons but also in inspiring them to keep coming back.

3. Cyber Security
A major concern for any modern company with the slightest connection to the digital world is security, ranging from mishandling customers’ information to hacker activity. Brands aiming for high status and traffic should value protection from intruders and administrative errors above all else. A single mishap could upset a company’s system, but also tarnish its hard-earned reputation. In terms of online casinos, their ample services are equal to plenty of opportunities for things to go wrong, so investing in strong security measures is vital.

The most reliable iGaming providers today are considered such because of their policies and systems that encourage safe interactions and transactions, whether to cash out or make a deposit. The effort means a lot to loyal visitors, but there are plenty more ways to boost a domain’s cybersecurity. Partnering up with IT specialists like Absolute is a popular direction since they can carry out all the inspections, troubleshooting, and maintenance work, while their clients focus on organizing unrelated affairs. Ultimately, online casinos must take care of as many aspects of their digital environment as possible, something which available technologies and services can help with.

4. Competition
The constant expansion of the digital and general tech landscape is exciting. At the same time, it gives every online and brick-and-mortar casino access to a vast pool of tools and prospects. Each smart move a brand makes could lead to a boost in power and popularity that outshines competitors. This makes the gambling market and the threat of obscurity that much more daunting. It is an additional reason to strive for innovation and a constant supply of fresh content. An engaging blog is a tried and trusted way of keeping players coming back for more.

Fortunately, the technology of popular online casinos tends to be up to scratch and enjoyable to customers. Apart from live games, secure payment systems, and efficient websites, services include VIP clubs, regular promotions, and compatibility with multiple devices. A good strategy for digital gambling providers is to maintain, if not enhance, the quality of such features while exploring other avenues to stay ahead of the competition. Pushing for social media engagement and superior customer support are great additions to a modern business model.

Will threat levels increase or decrease?
Managing a company is never simple and the digital age has made it a greater challenge still. On the one hand, an almost infinite supply of solutions is open to brands. They can help build, support, enhance, or completely transform a business. On the other hand, this same luxury can overwhelm companies and customers. Without a realistic plan and knowledge of the difficulties ahead, a new online casino can quickly trip over several threats. Just choosing technology to assist with problems can make or break a brand.

The future of iGaming, however, is not as bleak as it seems, just complicated. Understanding the industry in all its bright and risky glory will guide online gambling providers towards informed strategies. Careful and innovative steps should be a priority too, as well as keeping an eye on new technologies, competitors, and security hazards. Foresight and ingenuity can counter every threat.


Source: https://techstartups.com/2020/11/27/challenges-facing-sports-betting-gaming-industry-overcome/

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