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CROWDFUNDING AND CROWDSOURCING FOR THE GAMBLING INDUSTRY
1. CROWDFUNDING AND CROWDSOURCING FOR THE GAMBLING INDUSTRY
http://gamcrowd.com/
What will be the impact of Crowdsourcing on the gambling industry?
White Paper
Outlook for the Crowdsourcing market
According to a 2012 report by Massolution called Enterprise Crowdsourcing: Market, Provider and
Worker Trends published on crowdsourcing.org, the market for services provided by the “crowd” had
been growing at over 75% per annum. In 2011, it was estimated that crowds it was worth around $375m
worldwide and was still growing at the same rate. Assuming that the rate of growth has continued until
now, the market is likely to be worth around $2bn in 2014 and current statistics suggest that there are
plenty of signs that that growth is continuing.
CROWDSOURCING INDUSTRY REVENUE GR
There are estimated to be around 3bn people online, and that number is expected to reach 5bn by 2020.
A growing number of that global online workforce are increasingly happy to seek work through a
crowdsourcing platform; either as their main source of income or as a supplementary wage. The same
crowdsourcing.org report suggested that there were 6.3m workers engaged in crowdsourcing in 2011,
and that number has been growing at 100% per annum.
TOTAL NUMBER OF CROWDSOURCING WORKERS
Source: crowdsourcing
2. CROWDFUNDING AND CROWDSOURCING FOR THE GAMBLING INDUSTRY
http://gamcrowd.com/
As we will discuss later in this paper, some of the world’s most innovative companies such as Amazon,
HP and Netflix use crowd sourcing, not just to reduce costs but to create a competitive advantage. This
paper examines the opportunity for operators within the Gambling industry to exploit the crowd.
Outlook for the Crowdsourcing market within the Gambling Industry
To date there is no actual data for the amount of crowdsourcing within the gambling industry and
anecdotal evidence is that it has yet to take hold. However, where it is happening it is reported under
generic industry groupings such as Media and Entertainment, which account for about 20% of the global
crowdsourcing market * (*Crowdsourcing.org)
According to The Economist magazine report in Feb 2014, the global gross win [=revenue?] for the
gambling industry is around $450bn and is expected to grow to around $550bn in 2018. The TV business
(including advertising spend) is a similar size to the Gambling Industry with the Economist estimating its
revenues are around $400bn, which is about a quarter of the global Media and Entertainment industry,
an industry that Crowdsourcing.org estimates to account for 20% of the worldwide crowdsourcing
3. CROWDFUNDING AND CROWDSOURCING FOR THE GAMBLING INDUSTRY
http://gamcrowd.com/
market. Although the methodology for arriving at these numbers is not ideal, a simple extrapolation
suggests that the Gambling Industry should be capable of accounting for around 5% of the worldwide
crowdsourcing market. That would put the potential market at around $100m in 2014. At GamCrowd,
we cannot find much evidence that the Gambling industry represents 5% of the market and thus we
believe there is a considerable opportunity for the industry to use the crowd much more. The
opportunity to fill this gap and drive further innovation and growth is why GamCrowd has launched an
online crowdsourcing and crowd funding platform and has recruited a crowd of gambling professionals
to act as our industry’s “crowd.”
Suitability of Gambling to Crowdsourcing
The rise of crowdsourcing in recent years is an online phenomenon – the arrival of web 2.0,
social media, cloud and mobile computing have all made it possible. It benefits industries more
that deal in digital ideas and data. We believe that the gambling industry has a tremendous
opportunity to benefit from the economics of the crowd, probably more so than any other
industry.
Gambling has been at the leading edge of the internet since the late 90s – modern gambling
businesses are global, multi platform, multi language, multi currency and extremely complex.
The online gambling industry has been at the very forefront of peer to peer technologies,
social media integration, data analytics, SEO, social media marketing and affiliate networks. The advance
of Bringing Your Own Device is transforming the land-based industry as is the use of cloud-based
systems to better manage those estates. There is a long history of start-ups innovating within the
industry and our experience at GamCrowd is that there is a healthy pipeline coming through.
This paper looks at a number of possible uses that the Gambling Industry could make of the
crowd and aims to provoke some early experiments with crowdsourcing amongst managers.
In it we go through all of the various tasks that we believe, the industry could do better via the
crowd. We have included some background information which we think will be of help to those
that are new to crowdsourcing.
Benefits
Flexibility and scalability: The crowd allows you to turn on a huge army of workers at the
click of a mouse and turn them back off when you are finished. They bring a variety of skills,
languages, perspectives and ideas and you can access them for as long (or as short) a time as
you need them.
Speed to market: Post a job on a crowdsourcing site and you will, if things go well, get
multiple proposals within hours. Per task workers are focused on delivering quickly and
efficiently. If you cut out the time taken to search for multiple options to get a quote, you can
get work done quicker. Also, crowd workers do not spend time commuting, sitting in meetings
or writing reports for their boss. They simply churn out the work. At GamCrowd, we have been
consistently delighted at the speed of turnaround of our tasks.
4. CROWDFUNDING AND CROWDSOURCING FOR THE GAMBLING INDUSTRY
http://gamcrowd.com/
Reach: In a global business such as online gaming, the crowd can let you operate every language and
country that you target to the same standard as your home market. The reach plus the costs will enable
new markets to be targeted that traditional methods would have ruled out on cost grounds.
Originality: The crowd brings the benefits of diversity and localisation
to your business across many departments such as technology, product, content and
marketing.
Costs: Cost is often quoted as the number one reason for using crowdsourcing. It is a huge
benefit but in our opinion it is not the number one benefit. Cost s are lower because you
only pay the cost of each task. Some of the costs you don’t pay are management overhead,
property and IT costs and employment costs. Per task and micro task models usually assume
a set time per task and the crowd worker will only charge for a few seconds or a few hours of
work. You are unlikely to have to commit to a long contract with a consultant. The market is
also global and workers have to compete against cheaper jurisdictions; GamCrowd’s brand
guidelines were produced by a young lady in Pakistan and we were delighted with the outcome.
We have used the crowd extensively to build our business and we have been amazed at how
little cash we have used to achieve some big results.