LeoVegas achieve differentiation and retention rates through jackpots

LeoVegas achieve differentiation and retention rates through jackpots

LeoVegas achieve differentiation and retention rates through jackpots
LeoVegas Group has published an interview with its Head of Gaming Business Development Viktor Hoffman who discussed one of the company’s flagship iGaming products in detail, offering insight into the so-called LeoJackpot or BetMGM Millions. Jackpots, Hoffman explained, are one of the biggest drivers of interest and engagement among players and went into the nitty-gritty of how LeoVegas strove to achieve differentiation through a jackpot offer that stands out at its core. The executive explained that four pillars turn LeoJackpot into a preferred expeirence for players, adding that it was fast, stable, safe, and fair, where each player contributed to the total prize pool and stood a decent chance of winning the said prize pool. Real time reporting on jackpot availability and winners is another appreciated factor by players. As to LeoJackpot specifically, the solution offers a pooled, cross-border and jurisdiction, multi-tier, and value-based jackpot offer which is progressive and therefore can reach significant amounts. A big difference in LeoJackpot is that the solution is designed to be triggered with a kind of an ante or add-on bet and is different from how other jackpot networks pool the prize money, which is usually through a network of different operators and the actual win – a result of the game’s actual return-to-player rate, Hoffmann explained. Yet, to ensure that the expeirence proves of interest to players – outside of the pursuit of the life-changing figure – LeoVegas has gone the extra mile to tinker with reset values, volatility levels, and more to give customers a reason to seek out the game no matter how likely they are to win the jackpot. A jackpot usually drops once every 6.4 minutes which means that many additional winners can also benefit from the way this works. LeoJackpot has paid more than €20m across 100,000 jackpot drops, Hoffmann added, outlining 2023 as one of the solution’s best years. Yet, the success of the product shows in its retention rates: “When comparing monthly retention rates between Jackpot opted-in and opted-out players, we found that jackpot players are twice as active, with double the retention rate of non-jackpot players.” Not least, Hoffman is certain that in the future, operators who wish to stay competitive will have to work harder to make sure that they offer jackpot experiences that are fun and calibrated to meet player needs in full. Jackpot innovation has indeed been on the radar of many companies in the industry. Image credit: Unsplash.com

12 JAN 2024

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