One of the most renowned iGaming specialists, 1X2 Network came up with an inventive standard to improve the quality of services delivered to players. Named Probability of Getting Your Money Back (or PMB, for short), the new solution allows operators to market content to players more ethically and profitably.
With the help of PMB, operators get the chance to find out more about the games than just high>low volatility. This puts them in a much better position to clearly identify which releases best meet the needs of each type of punter.
Kevin Reid, Chief Commercial Officer at the gigantic network, which covers 1X2gaming and Iron Dog Studio brands as well, pointed out:
“We believe our PMB standard has the potential to be a key reference point for operators standardizing what was a vague reference in volatility for many years now.”
This inventive standardization represents the first step towards a scientific, data-driven future. With such an approach, clients could get personalized recommendations, where slot machines will be advertised automatically to them, based on their tastes, as a response to their specific preferences.
Gray Wagner, Mathematician at 1X2 Network, commented:
“PMB is a relatively simple standard that is available for any game, be it from 1X2 or any other developer. The nature of the calculation, behind the PMB standard, makes it impossible to ‘reverse engineer’ some of the finer maths, that most designers would prefer to keep secret. By doing this, it allows for open publication of the statistic, between all parties, and allows for universal collaboration, in an effort to improve the efficiency of the market.”
The Probability of Getting Your Money Back (PMB) standard identifies a 3D footprint of a game and in combination with mathematical equations, determines the odds of the player achieving specific returns after set spin amounts.
Equipped with this information…
… operators can then target specific releases to specific consumer types instead of the current scattergun approach to the industry non-uniformed term of variance.
Let’s explain it via a practical example:
Player one likes to deposit £100 per month at an online casino and spends £0.50 per spin, whereas Player two deposits £3,000 and spend £50 per spin.
Player one is satisfied with their playing session when they double their bankroll, while player two will only withdraw when they have multiplied their bankroll by ten.
Based on volatility alone…
…operators would usually market lower volatility releases to player one and higher volatility releases to player two. But in reality, variance alone is too basic.
This is because it does not consider additional factors such as typical budget, bet per spin, and cashout value, all of which can impact the suitability of a game.
In conclusion, PMB not only improves their return on marketing investment but also ensures games are being ethically marketed to players based on their affordability.
Kevin Reid, Chief Commercial Officer at 1X2 Network, said:
“We believe that as an industry there are vast sums spent marketing games in an ineffective manner. So not only does this potentially significantly improve the ROI of marketing spend for the operators but also means players are not being targeted with games that don’t align with their preferences and appetite for risk which should aid in them being more at home with the particular operator.”
Source:
“1X2 Network sets a new standard with PMB”, 1x2 Network newsletter