A recent report announced that the global online gambling market was set to reach $160 billion by 2027. This comes after a year of success in the industry as trends offered by sites and developers reflected consumer habits. The report by Global Market Insights identified the adoption of smartphones and the improvement of internet accessibility worldwide as being key features of the industry’s continued growth.
While this global growth may be focused around areas where the online casino hasn’t really taken off, how is the industry continuing to thrive in a competitive and saturated market? What are online casino operators doing to keep themselves fresh?
Competitive Marketing
One of the main ways in which any business succeeds in a competitive landscape is through their marketing. Sometimes it’s not about the specific products or services, but in how they are translated to the customer.
A welcome bonus is a key offering in the online casino industry. It is so common that it is expected. A bonus is important as it helps new customers find a site they like by giving them an incentive to signing up.
For example, as the casino bonus offered by Royal Panda shows, not only is there an initial welcome bonus, but one for the sportsbook, a seasonal one for fall, and examples of weekly bonuses. Moreover, a refer-a-friend scheme also provides a further incentive for people to join – and to extol the benefits of the site to their friends.
Brand New Technology
Part of the report suggested VR technology and machine learning be part of the growth. The appetite for VR gaming across the board hasn’t been as strong as people expected back in 2012 when hardware was beginning to be released. But a VR casino experience could help a site find its niche and attract customers who like to engage with the latest technology.
A precursor to VR casino technology is the live casino option that many of the most competitive sites offer. These include games such as poker, roulette, blackjack, and baccarat where the player at home can see the dealer in front of them live. This adds the excitement and atmosphere that might be expected at a casino and combines it with the inherent benefits of an online casino.
Embracing Change and Adapting to Trends
Casino sites are an example of a modern business. They have taken a traditional concept and given it a digital presence. But complacency could see them going the way of Kodak if they don’t keep up with emerging trends.
One of the biggest of these current trends – and one affecting almost all digital industries – is the preference for mobile engagement over desktop engagement. Online casino sites have ensured that they offer mobile play and have sites or even apps that allow people to engage in smartphones and tablets.
Focusing on their mobile offering helps keep online casino sites relevant and fresh. For customers who only want to play on mobile, not having this option would immediately eliminate a site from their consideration. No matter how strong the site is, if it doesn’t translate to all modes of play, then it won’t survive as well in a competitive environment.
There are many ways that online casino operators continue to keep themselves fresh in the industry. They do this by adopting the latest technology and ensuring they are offering customers the very latest in what is expected across the sector. They market themselves well and attract customers to grow loyalty and build relationships.
They also adapt to the trends of the industry overall and ensure their lack of flexibility doesn’t render them redundant in such a competitive environment.
