Probability of Getting Your Money Back allows operators to market games to players more ethically and profitably.
1X2 Network, the popular game developer and content aggregator that is behind the 1X2gaming and Iron Dog Studio brands, has identified a new standard that helps operators market games to players more ethically and profitably.
The Probability of Getting Your Money Back (PMB) standard identifies a 3D footprint of a game and combined with mathematical equations, determines the odds of the player achieving specific returns after set spin amounts.
Armed with this information, operators can then target specific games to specific player types instead of the current scattergun approach to the industry non standardised term of volatility.
Watch: Probability of Getting Your Money Back explained
For example, player one likes to deposit £100 per month at an online casino and spends £0.50 per spin. Player two deposits £3,000 and spends £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 slots to player one and higher volatility slots to player two. But in reality, volatility 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.
By using PMB, operators can know more about the games than just high>low volatility, allowing them to clearly identify which games best meet the needs of each type of player.
This not only improves their return on marketing investment, but also ensures games are being ethically marketed to players based on their affordability and appetite for risk.
Gray Wagner, Mathematician at 1X2 Network, said: “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 PMB standard is the first step towards a scientific, data driven future, where slot machines are advertised automatically to customers, based on their tastes, and designed in response to their desires.”
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.
“We believe our PMB standard has the potential to be a key reference point for operators standardising what was a vague reference in Volatility for many years now.”