In-Play Focus

In-Play Focus

Sticking Around

Samuel Barrett discusses how faster withdrawals can unlock player loyalty

Operators spend massive resources to attract players to their site, only to have them churn at countless points of friction. Off the bat, about 24% of players end up dropping out during the registration process, according to Jumio’s ‘Mobile gaming registration and deposit abandonment’ study. And even players that survive registration aren’t guaranteed to proceed with a deposit: CRM specialist Optimove revealed that only one in three players who registers makes a deposit within 24 hours. At this point, operators pour in even more money to reactivate their players.

“The player doesn’t have to fill out lengthy forms or submit copies of bills or ID documents”

What’s more, many of those players will subsequently be lured away by sign-up bonuses and deposit promotions offered by other sites anyway, leaving operators with a poor return on their acquisition and reactivation investments. So what’s an operator to do? In the past, some have tried to achieve loyalty by introducing new games, deals or competing on bonuses, but beyond an initial boost, this approach has not led to long-term impact.

To understand what players really want, Trustly surveyed 1,700 people across nine EU markets. We found that providing a better payments and registration process means merchants don’t have to rely on bonuses, which are under regulatory scrutiny at the moment.

According to the survey, 94% of players want instant access to their winnings and 80% said they would gamble more frequently with a site that offered this. Among valuable VIP players the desire is stronger still: 87% say they would gamble more with instant withdrawals. Sentiment was especially strong in Spain and Poland, where more than 90% of players stated they would gamble more often with a site that allowed them to access winnings immediately.

Beyond offering speedier withdrawals, operators can differentiate themselves from the competition through a sleeker player experience. Take Trustly’s Pay N Play, for example. In order to register at a Pay N Play site, all a player has to do is make a deposit via his or her trusted online bank; no redirect away from the gaming site is necessary. This boosts conversion because by bundling the registration and deposit steps, there is no chance a player will register but not deposit.

As the player makes a deposit, Trustly extracts necessary information from the player’s bank account to fulfill KYC requirements and delivers the data to the operator, who can register the player account in the background. This means the player doesn’t have to fill out lengthy forms or submit copies of bills or ID documents. During this step, operators can also verify the player’s identity and age, ensuring that he or she is allowed to play. It streamlines the registration and deposit steps, but it also ensures that operators stay compliant with KYC regulations.

According to internal Trustly data, players who have tried Pay N Play divert 75% of their deposits from traditional gaming sites to Pay N Play sites, which is perhaps the best measure of stickiness.

When Trustly first introduced Pay N Play, many operators were skeptical that offering faster withdrawals could yield financial benefits. But more than two years later, as the game-changing product proves, faster withdrawals coupled with a frictionless player experience is the key to unlocking player loyalty.

•NAME: Trustly
•FOUNDED: 2008
•SECTOR: Payments
WEBSITE: Trustly.Com
TWITTER: @Trustly

 

 

Samuel Barrett

SAMUEL BARRETT has over 10 years’ experience working at some of Europe’s biggest payments companies that specialise in offering alternative payments to the gaming industry. Prior to joining Trustly as director of gaming, Samuel held various management roles at Paysafe Group, ClickandBuy and leading UK FX brokerage World First.