“Regulations play an important role in consumer protection, preventing fraud”
In today’s interview, we have the privilege of speaking with Anthony Gaud, an Emmy Award-winning CEO and prominent figure in the realms of technology, game development, television, and intellectual property. He also holds the esteemed position of Chair of the Regulated Esports and Videogames Committee.
Can you share some insights into the key legal challenges in the gaming and iGaming sectors?
In the gaming and iGaming industries, there are several significant legal hurdles, which are primarily the result of the complex and continually evolving regulatory landscape. The laws regarding online gambling and real-money gaming vary considerably from jurisdiction to jurisdiction, making compliance a significant undertaking.
A real-money video game (RMVG) platform such GaudHammer Gaming Group’s QRTR platform must comply with regulatory bodies such as the New Jersey Division of Gaming Enforcement and Gaming Labs International standards. The purpose of this step is to ensure that operations align with the wide range of legal standards, maintaining the integrity of the industry.
Furthermore, the new RMVG sector faces the challenge of integrating innovative technology and games within existing legal frameworks. Collaborations between the Esports Trade Association and Gaming Labs International have enabled new standards to emerge for real-money video games, ensuring that the industry remains at the forefront of innovation, compliance, and security.
This also illustrates our company’s commitment to working within these intricate legal frameworks and to forming a platform that will serve as an example of legal compliance for digital entertainment in the future.
It takes a strategic approach and a deep understanding of complex legislation in order to ensure that operations remain within the boundaries of various national and international laws.
Our technology and legal teams, working with external partners such as Odds on Compliance, work closely to ensure that the company’s operations and technology are compliant with the law, protecting both the company and its valued customers and partners.
A powerful, robust and legally compliant RMVG platform is the ultimate goal to ensure continued innovation and growth within the iGaming industry, while adhering to the necessary legal frameworks.
Could you also elaborate on the importance of regulatory frameworks in the gaming and iGaming industry?
Regulatory frameworks form the backbone of sustainable, legal gaming that protects the public in iGaming industry. In the case of new technologies such as QRTR, regulatory compliance goes beyond legal obligations. It is a deliberate move to reinforce the platform’s position, ensuring its long-lasting success and innovation in the evolving world of video gaming.
Regulations play an important role in consumer protection, preventing fraud, money laundering, and exploitation while ensuring players can engage with platforms confidently, certain of their safety and fairness. A number of gray market video game wage earning sites have stated confidently that they are able to self-govern, a claim that I find to be ridiculous.
Adhering to established frameworks enhances market integrity and credibility, instilling confidence among players, partners, and investors and reflecting the organization’s commitment to ethical and legal operations. Operators in the gray market do not possess any of these characteristics. An organization that adheres to compliance is also much better protected from legal repercussions, fines, or possible shutdowns due to noncompliance.
Compliance is essential for fostering partnerships and exploring expansion opportunities with existing organizations, facilitating negotiations and collaborations, and averting legal issues.
What are some essential considerations when creating products for millennial and Gen Z audiences?
I believe that in order to ensure a new products’ success and relevance in the market, it is crucial that manufacturers recognize and incorporate seven key elements that resonate with the values, preferences, and lifestyles of Millennials and Gen Z:
Seamless Technology Integration: When developing products for Millennials and Gen Z, it is imperative to provide convenient, trustworthy, and social entertainment. To meet the preferences of what are essentially digital natives, it is essential to ensure products are technologically up-to-date in these aspects.
Intuitive Mobile Design: Due to the fact that these demographic groups are predominantly using smartphones, it is imperative that products include intuitive mobile functionality. For these audiences to be engaged effectively, it is essential to provide a seamless and intuitive “on-the-go” and “second screen” experience.
Alignment with Sustainability, Equality, and Fair Play: Millennials and Gen Z consumers are deeply concerned about sustainability, equality, and fairness, and addressing these issues is crucial to their retention and attraction.
Personalized and Customizable Experiences: Providing personalized and customized experiences whenever possible ensures that the unique needs and desires of these demographics are met, enhancing their satisfaction and loyalty.
Social Media Integration: In addition to enhancing the user experience and enhancing platform visibility, social media integration also plays an essential role in enhancing reach, engagement, and interaction.
Honesty in Dealings and Communications: For building trust and loyalty with this demographic, it is imperative to ensure transparency and authenticity in all transactions and communications. To illustrate how not handling these issues properly can derail a multi-billion dollar technology, take a look at the recent controversy surrounding the release of Cyberpunk 2077 as well as the recent changes to Unity Licensing.
Provision of Engaging Content: Since these younger audiences have grown up surrounded by video games, engaging, interactive content is crucial to their continued engagement and satisfaction because the content must be compelling and compelling in order to hold their attention.
Spearheading the first public-private esports partnership in the United States with Atlantic City’s Casino Reinvestment Development Authority is a significant achievement. What was the vision behind this partnership, and what impact has it had on the esports industry?
The vision behind our pioneering partnership with Atlantic City’s Casino Reinvestment Development Authority (CRDA) was broad and ambitious. Through combining public sector support with the opportunity for wagering around video games and the tourism that it would bring to the city, we sought to spur growth and innovation in the esports industry. Ultimately, we believed, a united effort would create an environment conducive to the growth of the esports industry in Atlantic City, which in turn would boost economic development.
A further benefit of this collaboration was that it was deliberately designed to expand opportunities within the esports arena, especially in relation to job creation, attracting further investment, enhancing tourism, and engaging in other economic activities. A testament to the success of this endeavor is the establishment of a Stockton Esports Innovation Center and the establishment of the Esports Trade Association’s first local chapter.
The numerous upcoming esports events in the city is a clear indication that our initial efforts are bearing fruit and making a meaningful impact. The development of an esports infrastructure not only contributes to the immediate industry, but also resonates throughout Atlantic City and the broader region, signaling an exciting future where younger audiences will be welcomed.
In my opinion, our partnership with Atlantic City has resulted in economic growth, job creation, and a broadening of investment opportunities, infusing life into both the city and the region as a whole. The involvement and empowerment of the local community through the Boys and Girls Club, as well as other organizations, stand out as a significant achievement, creating opportunities for inclusive participation, social enhancement, and career advancement within the emerging esports industry.
How do you view the future of the gaming and iGaming industry, and what trends do you believe will shape its growth in the coming years?
The future of real money entertainment is marked by a profound merger of traditional video gaming and iGaming experiences and platforms. As a key driver for future growth, this intersection enhances the overall gaming experience while extending the audience’s reach and exploring emerging markets. In this regard, platforms like QRTR are leading the way, working to create a new vertical within the iGaming industry, attracting an audience beyond traditional casino enthusiasts and video gaming enthusiasts, thereby significantly expanding the market.
Globally, the video game industry stands tall, with an estimated value of $150 billion and a persistent trend of steady growth. The iGaming industry, with an estimated value of $60 billion, is on an upward trajectory that is a bit faster. A merger between these two strong sectors will not only result in a summation of their market values, but will also lead to the opening up of new revenue channels, resulting in further growth and development.
This merger will result in a broader and more diversified market, providing greater opportunities for innovation, investment, and growth. The forthcoming trends further brighten the panorama, with emerging technologies such as augmented reality (AR), virtual reality (VR), and artificial intelligence (AI) poised to enhance the gaming experience, strengthen fairness and security, and introduce innovative gameplay and betting options.
As mobile gaming continues to grow, users will increasingly prefer to play and bet on their mobile devices, emphasizing the importance of mobile-optimized platforms. A burgeoning demand for a diverse game portfolio, including esports betting, crash games, skill-based games, and live streamer games, will further drive innovation in the game development industry.
This new RMVG landscape will influence and adapt to evolving regulatory frameworks for the purpose of ensuring transparency, fairness, and responsible operation.
GaudHammer Gaming Group looks forward to an exciting future where emerging trends are destined to radically change the gaming and iGaming industry landscape, providing unparalleled opportunity for growth, evolution and excitement.