This week is a snapshot look into the new and exciting E-gaming sector.
E-gaming is a sector that we’ve really focused our attention on over the last few years and its where we’ve really seen our business grow. It’s one of those areas which has spun out of the digital revolution. Traditional offline gaming has moved online and the sector has really taken off. What makes it so interesting is the room for innovation and development that the sector holds for creating new digital insurance products.
Instead of focussing on cyber or tech products, e-gaming requires thinking outside of the box. One of the coolest things we’ve been developing at Node is solutions to insure the jackpots. Where traditional gaming companies would have typically used ticket based sales to build a jackpot, we have built some very innovative systems around insuring an online jackpot. In particular, we’ve been working with lottery based games, as well as recently moved this blueprint into online slots.
To take a quick look at our solution, it was brilliantly simple. Following the traditional principles of a lottery or slots based game, we found a way to remove the moral hazard by leveraging the latest technologies, in particular the block chain architecture . Also we have deployed older service principles like database mirroring so the bet file was then protected.
If you are a broker out there who deals with the e-gaming sector, please get in touch if you would like more info. You may not be aware of this new approach, moving beyond liability from the platform and instead focussing on the prize fund as well. We think it’s a really exciting approach to take. It’s an entirely new form of insurance!
What’s great about the sector, is that as people evolve in the space and new games and businesses pop up, the insurer is similarly able to grow and innovate, making it one of the most wonderful sectors out there.
Next week, we’ll be heading to the ICE conference at the ExCel in London, so if you’re heading there too, we look forward to seeing you!