Livespins is striving to reimagine slot machines – Slots – iGB
Marese O’Hagan had a conversation with Michael Pedersen, the Chief Commercial Officer of Livespins, to discuss the company’s inspiration and why he thinks it can shake up an industry that needs a makeover.
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Livespins is aiming to redefine slots
Slot machines have long been thought of as a solitary form of gambling. The industry has been somewhat isolated, lacking collaboration, which is something the casino streaming platform Livespins hopes to change by entering the slots market. It creates a shared streaming experience where players can wager together. The company’s move is supported by the industry’s push for more shared experiences, especially after the COVID-19 pandemic.
Streaming, at least in iGaming, is still in its early stages. Currently, companies like SharedPlay, Interactive Gaming Group, and CasinoGrounds are competing to be the ones to solve the streaming puzzle.
In the meantime, developers are pushing to create multiplayer slots – many believe this could be the most significant change to the industry since the first online casinos.
But as Twitch’s ban on casino links in live streams shows, can this traditional mechanism thrive with a more modern feel? Michael Pedersen of Livespins believes it can.
Let’s take a look at how Livespins operates. How does it differ from other products on the market?
The most effective way to clarify this is through the conventional, physical approach of “shadowing”.
Did you know that when you’re at a physical casino, you can place a wager behind someone seated at a table without actually taking a seat at the table? We’ve merged this approach with casino live streaming. You’re no longer passively observing a casino streamer, but you can join their adventure, place bets behind the streamer, and also wager alongside other participants.
This communal atmosphere, perhaps 50 players betting behind the streamer, if he wins, you win, you can celebrate together. As far as we know, we’re the first company in the market to achieve this. It’s built on a proprietary platform, so we don’t depend on Twitch, YouTube, or any other streaming platforms.
Slot machines are traditionally a solitary experience. Why did you choose to launch a social gaming experience?
When we examine global statistics and consumption patterns, we see that consumers are increasingly turning to streaming. In Asia, approximately one-third of online shopping is now conducted through streamers. The conventional Amazon shopping experience is now outdated, particularly in Asia. We’re witnessing this trend in the West as well.
Consumers there, especially Gen Z, are seeking more interaction. Apple is offering SharePlay, where you can watch movies or listen to music together.
Disney Plus is on the verge of introducing a new feature known as GroupWatch, which enables you to stream a film to 20 different households, but watch it together. Outside the industry, we’re witnessing these social patterns emerge.
We’ve been discussing this in iGaming for a considerable time, but I believe 2022 will be the year it becomes widespread, it won’t be a niche adoption anymore.
Taking into account the surge of gamification and engagement features introduced in recent years, it seems like developers haven’t been able to create genuinely multiplayer products – what’s the reason for that?
That’s likely why I became enamored with Livespins. When Robin [Reed] presented me the product, I thought for the first time, this is applicable to the general public. It’s not some obscure niche. Multiplayer experiences have been awkward or very niche so far.
Livespins is distinct. Certainly, there will still be players who prefer to play alone, they’re not interested in all the giveaways, but I believe Livespins is positioned to be much less niche, more appealing to mass consumers and players.
Is this the ultimate objective of Livespins?
The “betting” product we launched with Livespins is definitely not the final step in our product line. It’s merely the start. We believe Livespins is an entirely new category.
When you visit an operator’s site, you’ll see your live casino and table games.
Livespins will be a fresh, distinct category of real-time gaming encounters. We’re constructing a collection of these encounters, just as we’re laying the groundwork for a novel approach to playing casino games. In the future, there will be numerous diverse variations.
Do you believe the slot machine sector requires more upheaval? Since the fundamental gameplay hasn’t truly evolved since transitioning online, do you think there’s space for significant advancement?
Absolutely. I believe there’s ample room for advancement. The challenge is to discover meaningful advancement. I’ve observed a great deal of incremental development in slots, such as tournaments and contests. These are simply leveraging the core game experience.
Livespins has introduced a completely novel core product. It’s distinct – it’s a method to play slots collectively as a group. I hope to witness more of this type of advancement because the industry genuinely needs it. But it also needs to be sensible advancement that consumers actually desire. Don’t innovate solely for the sake of innovating.
Do you believe this advancement will originate from the industry itself, or from other sectors, such as video games?
I hope both. We’re undoubtedly pushing from within the industry, but there’s also a robust push from the US.
We playfully discussed the potential consequences if Amazon ventured into the realm of online betting.
We’ve witnessed it firsthand. Netflix is venturing into the world of gaming, not wagering. This pattern is only going to persist. It’s uncertain whether they’ll draw the line at social or free-to-play games, or if they’ll enter the real money gaming arena. Who can say?
The primary message we’re attempting to communicate is that this isn’t just another variety of game, it’s actually an entirely new classification. It’s a novel approach to playing slots that we’ve never encountered before.
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