Booming market brings benefits for players
The gambling industry is booming. The sector was valued at just over $41 billion in 2016 and is forecast to be worth some $80 billion by the end of 2020.
Betting, both online and offline is growing, as is the remote gambling industry on the whole. But what does this growth mean for gamblers? Gina Clarke takes a look.
Innovative marketing tactics driving player acquisition
While the competitive marketplace is pushing companies to be more innovative in the tactics they use to attract players, which could be beneficial to the end consumer.
One of the keys to the current success the industry is experiencing is strong marketing tactics. As the number of providers increases, they are understanding that what they offer needs to stand out from their competitors.
Cash incentives are growing, which is good news for gamblers as sites compete to attract players with increasingly large welcome bonuses. But beyond the competition to attract players in the first place, gaming sites are also stepping up their customer service game to keep clients on board once they have joined.
Online will soon outstrip land-based
The online gaming sector is booming, to the point where it will soon occupy more of the gaming market than land-based gambling outlets. The growth of the online sector can be attributed in part to progress made in the technology that is available to companies who want to offer online gaming services.
The new tech now means that gamblers anywhere in the world can access sites, and the sites themselves can offer clients increasingly life-like gaming experiences online.
Gaming and gambling coming closer together
The line between gaming and gambling is also becoming increasingly blurred. In the gaming industry, trading and loot boxes are becoming increasingly popular among developers to drive income.
Electronic sports are also helping the industry to grow, with the audience for e-sports reaching an estimated 390 million people last year alone.
Gambling platforms are investing differently now to get their share of the gaming market. They are paying for games to be developed. They are also shifting their marketing spending from onboarding new clients to onboarding and keeping existing clients who use their services satisfied.
The resulting environment for gamers is one of a real buyer’s market, that could bring many benefits as companies have to compete more and more to keep gamers on their platform.