Tom Mitchell – RISQ – Power is nothing without the right controls
SBC News interviewed Tom Mitchell…
Following a year of growth, SBC catches up with Tom Mitchell, B2B Director of London-based tech firm RISQ. Bringing new insurance/risk products to market, RISQ’s commercial team has announced a number of new Tier1 partnerships. SBC gets the full lowdown from Mitchell…
SBC: Can you begin by introducing RISQ as a company and describing what it is you do?
Tom Mitchell: RISQ are a London-based technology company, providing the highest levels of precision and data analytics in jackpot risk management. We offer hedge bets and insurance on the outcomes of international lotteries and have access to the largest insurance limits in the industry.
Our Jackpot RNG (Random Number Generator) is suited to a wide range of applications, tailoring odds, jackpot-size and frequency to any platform or games developer’s specific needs. These scalable jackpot solutions drive traffic, acquisitions, and player behaviour in the global-gaming and digital-marketing space.
RISQ think differently, seeking out opportunities that allow clients to increase their margins and maximise returns through innovative technology, allied to a unique corporate structure. Holding both UKGC and Alderney licences, we supply the first-ever insured RNG with scope to grow limits up to £100m per play.
SBC: How successful has RISQ’s range of B2B offerings been in attracting clients, and do you have any prospective partnerships in the pipeline?
TM: To be honest, jackpots can now provide the cornerstone of each product, whether it be lottery, RNG or sports-related. Succinctly put, for the aforementioned reasons, jackpots work. And our solution has enabled the gaming industry to easily access such jackpots, which can in turn be pressed into a variety of services. After all, we are still at the doorstep of seeing how the modern igaming market moulds its use of jackpots.
So, at RISQ, we have been eager to ensure that adaptability remains our watchword. Our uniquely-structured, B2B-only solution can be extended to affiliates, gaming platforms, games developers and operators, providing total and democratised access to jackpots that are flexible and scalable to meet their exact requirements.
In fact, we’ve just announced a partnership with leading online instant win games supplier IWG to launch an exciting new range of jackpots powered by RISQ’s RNG. It’s a great validation to have such a forward-thinking supplier on board, and we expect the pipeline to draw from a similarly well-respected pool.
SBC: What reassurance can you offer future partners as to jackpot prize insurance?
TM: Power is nothing without the right controls, and the importance tamper-proof data is paramount to the success of our business. To which end, RISQ’s technology runs off the latest software, which both vets and protects results with automated timestamps and the most robust anti-interference systems around.
So while our solution is a real game-changer for this industry, it also delivers complete peace of mind for individual operators when providing the customised flexibility to offer jackpot-led titles without the need to share liquidity, or the potential rewards of a major jackpot win, with rival sites.
And while our jackpot limit is currently set at £25m, the industry interest it is creating will soon see us increase that figure to £100m. Perhaps above all, though, RISQ’s fiduciary commitment to transparency and contracting with A-rated insurers at every juncture sets us apart.
Ultimately, our partners want to know that in the event of a win, the claim process is seamless and robust, with the player getting paid quickly and in line with terms and conditions. Tackling any such reliability concerns has been at the heart of our development and company culture.
SBC: Looking to the future, how will you ensure RISQ continues to grow and expand?
TM: Ever since we entered the market in 2010 as the first insurance-based lottery solution, we have looked to the long-term, and the accompanying evolution to facilitate that path forward. We plan to grow our existing B2B relationships, certainly add new ones, and make continuous improvements to client-margins through the most efficient risk-management systems available.
Meanwhile, on the other side of the business, the insurance industry is ripe for disruption, and we already have our finest minds making inroads into how best to exploit those forthcoming opportunities.