US – OTP LLC to distribute Secure Trading’s ST-1 iGaming platformBy Phil - 27 November 2014
Secure Trading has signed a significant strategic partnership with OTP LLC who will now resell Secure Trading’s revolutionary ST-1 platform to tribal gaming operators in the United States.
This important partnership aligns the dominant influence of tribal gaming with the best-in-class technological authentication and payment processing platform, optimising player interaction.
ST-1 links the physical and digital gambling experiences and protects both the consumer and operator. It does this by offering the most comprehensively built, seamlessly integrated user registration, verification, authentication, and payment processing experience on the market.
There are 460 tribal casinos in the US, generating more than $28bnin annual gaming revenues, which, when compared to Nevada (Las Vegas Casinos last year generated $3.6bn in the same period) is significant. It is estimated that upwards of 80 million Americans have been issued a loyalty card at a tribally owned casino and are active, recreational gamblers. With iGaming currently legal in only three states – Delaware, New Jersey, and Nevada – all eyes are closely following the legislation developments in California. With a population of 38m, California is the most densely populated state in the union; and with more than 200m domestic and 15m international visitors in 2013, California’s potential iGaming market is described by Secure Trading as ‘jaw dropping.’
With the growing realisation that online gaming is once again a viable option in the United States, native sovereign nations are at the forefront of the modernisation of the new gambling experience.
Nearly three decades of explosive success has afforded tribes one of the collectively largest untapped consumer databanks in the world. In a day and age when data is king and consumer spend is not a foregone conclusion, tribes it seems are poised to make a significant impact to not only iGaming but, more specifically, to the ever-growing digital payments space as wider consumer adoption lends itself to all types of e-commerce.
Developed over the course of five years, ST-1 conforms to all existing US gaming laws and regulations; is a scalable, fully compliant, point-to-point process that allows US gaming operators to rest assured that every element of every transaction is fully audited and openly transparent, with a seamless registration process and optimized for high card acceptance rates. Checks also include identification, location and responsible gambling checks. Operators can also securely process deposits, manage the back office and deal with withdrawals all through one fully integrated compliant platform.
For tribes, it further protects their sovereignty by keeping existing consumer data confidential, whilst enabling wider engagement with customers, introducing greater brand loyalty and increased spend.
Kobus Paulsen, CEO at Secure Trading said: “This partnership represents a major opportunity in the US gaming market enabling us to cooperate closely with the Indian Tribes to provide a fully compliant platform aligned with market needs. Having spent a long time being part of the regulatory process our announcement today will help us access new markets and enable tribal businesses across native North America to significantly increase revenues and extend reach by providing consumers with greater choice and a better experience.”
Rico Garcia, CEO at OTP LLC said: “iGaming allows for our casino operations to reach a global audience. And with that, the stories of our people will too. And, in the end, that is what I want more than anything else: For the indigenous people of this land to be able to communicate our stories to the world and reach more people.”