While esports has seen exponential growth in recent years, Pinnacle’s CEO Paris Smith explained that they are still very much flying the flag for esports.
In the run up to the SBC Digital Summit next week, SBC spoke with Paris Smith to discuss what Pinnacle will be showcasing at the upcoming event, and the wide variety of approaches that the industry is taking to deal with the lull in sporting events.
What are you looking forward to at the SBC Digital Summit?
I’m sure I speak for a lot of industry professionals when I say that the SBC events have become a core part of my calendar over the years and I always look forward to catching up with people and making new connections in the industry.
I’m also really excited to experience a virtual and interactive conference on such a large scale. I think SBC should be commended for their efforts in rearranging the planned events that have been impacted, and leveraging the technology at our disposal to get so many industry professionals together to share their perspective on current circumstances and what the future has in store.
What would be your biggest bit of advice for betting and gaming businesses trying to mitigate the impact of COVID-19?
It may not be useful to promote pre-planning for such events at this very moment, and no one could have anticipated something like COVID-19, but having specific procedures in place to turn to has been crucial in helping Pinnacle manage the current situation. While the first thought for any business will be to work in the here and now, I think the benefits of using this experience to help manage similar issues in the future should not be overlooked.
It could be pivoting into different verticals to generate revenue, communicating with customers to help maintain a positive relationship with you, or focusing on your employees and their wellbeing. There are so many contributing factors that go into coming out of the other side of COVID-19 and knowing that you handled it well as a business.
I do believe that working with the industry is incredibly important in times like these. These are uncharted waters and I have found a lot of support, encouragement and good advice of my fellow peers in the industry. One thing these conferences are known for is networking and one of my first thoughts was to reach out to my contacts.
What are you promoting at SBC Digital Summit?
Pinnacle is still very much flying the flag for esports. The last few years has seen a major uplift in interest within the industry and more people than ever are taking esports seriously and investing in learning more about it. However, I still think more needs to be done to educate people about the uniqueness of esports, and raise awareness for the benefits it can bring to those in our industry.
Unsurprisingly, the last few months have intensified the interest in esports given that the majority of events have been able to continue by taking place online. That’s why I am anticipating a lot of interest in the Esports – Let’s Get Digital panel I will be taking part in. I sincerely hope that we can help esports emerge as an elite level sport in its own right, not just the alternative to traditional sports that many seem to regard it as.
The Pinnacle Solution product will be at the forefront of our promotional effort. Esports in itself is exciting and very relevant at this time, but the missing key seems to be making money from esports, which is what Pinnacle has been able to do successfully. Pinnacle Solution gives others the opportunity to not only tap into the market, but profit from it!
What new technology do you feel will have the biggest impact in the gaming industry?
A lot of people would have given this answer five years ago without knowing what the potential was or how it would be used. However, I think we’re about to see some major changes in a lot of industries courtesy of virtual reality. We know a lot more about it now and the focus on customer experience has matured. Ground-breaking uses of this technology are certainly coming in the not too distant future.
This could be a completely personalised betting experience at home that extends far beyond desktop and mobile, or it could be integrating how customers bet during live events. Virtual reality was such a buzz word a few years back but I don’t think people really knew how it worked or how to get the most out of it. It now seems to be well on its way to overtaking traditional gaming consoles and other forms of entertainment won’t be too far behind.
What industry innovation will capture the most attention in 2020?
Esports (it’s not all I talk about, I promise). This could range from innovation on the B2B side with the likes of Pinnacle Solution offering a completely bespoke esports customer experience to operators, to innovation from data suppliers in how they capture such quantities of high quality esports data or innovation from operators in the number of events and markets they offer to customers. The key is that esports will be a massive driving force for innovation within the industry.
The most interesting thing is that I would have given the same answer had that question been asked at the end of 2019 or before the severity of COVID-19 became apparent. What’s really exciting now is that the appetite from everyone within the industry will only help push the boundaries of innovation in esports and I can’t wait to see some of the results.
Which operator has impressed you the most in 2020?
It’s not a single operator, but rather a group of operators. The initiative from the Betting and Gaming Council, with collective buy in from major UK operators, to use the Virtual Grand National as a means to generate additional funds for the NHS Charities Together is a real beacon of light in what has been very testing times for the industry as a whole.
The online gaming industry is highly competitive and a lot of the operators are vying for the same customers, but to put everything aside and work towards a greater good is something that should be applauded. I truly believe actions like this will help shine a more positive light on our industry moving forwards.
What sports betting partnership has stood out in the past 12 months?
At the risk of appearing biased here, I have to say Pinnacle’s partnership with ECS. We’re renowned for being a product-focused organisation that doesn’t spend much on marketing or sponsorship deals. However, this partnership showed how effective these kinds of deals can be when you work to find the right partner and take a collaborative approach in activations.
This partnership benefited Pinnacle in terms brand awareness, it benefitted ECS in terms of taking the production of their event to another level and, most importantly, it benefitted the esports community. Our partnership with ECS didn’t make betting front and centre of the fan experience, it used the notion of betting to add another layer of narrative and entertainment to the ECS broadcast. It gave fans something they had never experienced before and it’s clear that they want more of it.
Which parts of the conference agenda have caught your eye?
I think the Off The Bench – What Is There To Bet On? panel will be very interesting. I know different operators have taken a wide variety in approach to deal with the lull in sporting events and I’m interested to get some insight into some of these approaches and what others make of them.
There is of course a big difference in offering anything that’s available to keep customers betting and maintaining a high-quality product offering that you know will still add value to the customer experience. While all operators will be avoiding the former, I’m interested to know how they have managed the latter while also handling the risk associated with these unique and often volatile markets.
