Tony Ure, head of e-gaming in the island, is the author of the latest Digital Matters.

Expectations of technology are high and the impact on businesses can be powerful – we are fast becoming a world that expects high connection speeds, instant upload, and surprising and engaging technology.

In some ways, technology has become a victim of its own success and expertise, as people always want more and we are always pushing for the next big thing.

The e-gaming world is often pushed to the limits of innovation, always seeking new creations and improvements to stand out from the crowd, raise the bar of entertainment and elevate the customer’s experience.

Because of this, the e-gaming industry is often a first mover in new technology and must react quickly to the disruptive force of new innovation.

I have seen countless examples of this over the years where businesses who adapt are successful and those who hesitate are left behind.

When I first started out in the industry, we were still using dial-up internet which would disconnect players’ browsers for ‘inactivity’ after a few minutes!

We had to think of intuitive ways to get around this quirk of technology and today things are no different.

How Businesses Can Adapt

The key way for businesses to prepare and make best use of new technology is to embrace it – it’s not going anywhere!

Whatever the new technology is, businesses should look at possible applications for their own model, with the ambition of being the first in their space to do so.

In my experience there is always some reluctance at the start, many businesses think the technology won’t take off or that it will be too expensive or unfeasible for their model.

A great example of this is the rapid and unfaltering move to mobile technology.

Even 10 years ago, the majority of online gaming was developed for PC/desktop use, with many bigger companies nervously dipping their toes into the new world of mobile gaming.

Today some big names are only developing their content and games for mobile/tablet technology, with more than half of revenue now generated by this platform, this is only set to increase.

For mobile gaming, KYC (know your customer) and AML (anti money laundering) will become even more essential for responsible gaming.

With people now storing all money, crypto, skins and even ID verification in their phones, e-gaming companies will have to find out ways of embracing this expectation while ensuring the customer remains protected and their funds are secure.

To succeed in a world of changing technology, businesses must look to experienced suppliers and regulators who can be a sounding board for new models and adaptations of technology.

The Isle of Man’s gaming licence holds such a weighty reputation that it helps to demonstrate businesses’ commitment to safe and responsible gaming and protecting players’ funds.

Future-proofing is

essential

With new technologies appearing all the time, regulators will often be wary in how to regulate (or not) the new innovation.

The Isle of Man is a proactive and forward thinking centre of regulation, looking ahead to make sure the regulations are in place so we are ready when the industry takes that leap to the next big thing.

We understand that new technology and advancements will not go away – instead we look to control and manage these technologies through pragmatic and flexible regulation, while always striving to meet our three principles of keeping crime out, protecting the young and at risk and keeping the game fair.

The Isle of Man has a history of innovation and has a proven ability to adapt and embrace new technologies.

We were the first testing site in Europe for 3G mobile network and among the first to switch on 4G.

The Isle of Man is home to the first licensed operator to offer skin betting under regulations protecting RNG (random number generator) integrity and preventing underage gambling, the first licensed blockchain-enabled lottery platform, run on Ethereum using smart contracts and the first licence for eSportsPools to specifically cover wagering of virtual goods.

The Isle of Man is future-proofing its infrastructure for new technological developments, with the implementation of our national telecoms strategy well under way, aimed at further improving our already modern and resilient power network and telecommunications infrastructure.

On the island, we have a supportive ecosystem for businesses looking to take the first steps into a new technology – with significant funding and incubator support including the Isle of Man Blockchain Office and Sandbox, and an exceptional e-gaming cluster which offers service providers and concierge services to help businesses locate, innovate, grow and succeed.