If there’s one industry which managed to adopt the internet to great success quickly, it’s the gambling industry. Now, iGaming – online casino gaming, online poker, and online sports betting – is a goliath industry that’s propelled by the intense competition within itself. Each operator is vying for new ways to enhance their offering and appeal to more customers across the internet.
It was reported in 2017 by globenewswire.com that the iGaming market had hit US$45.8 billion globally and is expected to surpass US$94 billion by the year 2024. As the industry continues to become even more competitive with its increasing popularity, operators are deploying fine-tuned strategies to continue to win over more of the market. Competition often brings about the best innovations, and these are the tactics used by the iGaming industry which you could apply to your business to gain an edge.
If there’s one thing that people love, it’s free stuff
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The adage goes ‘the best things in life are free,’ which is certainly the approach that iGaming operators have decided to embrace. Due to the sheer number of websites offering online gambling, operators had to get creative to appear more appealing to potential players. So, they came up with the welcome bonus, which is now a staple of the industry.
As shown by the listings at bonus.net.nz, welcome bonuses span free spins, stacks of bonus cash, and even bonuses that don’t require an initial deposit to claim – making the only cost of attaining the bonus you signing-up. These free offers work for websites as they are effectively a gateway into the offering, allowing the new player to explore and familiarise themselves with the games. After playing through the bonus, there’s a good chance that they will find something that they like and will then stick around for longer. If your online business is struggling to get people through the virtual doors, see if a welcome offer of money off or free stuff would help the appeal of the website and its goods or services.
Brand association can skyrocket popularity
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Building up your brand can be incredibly tough. In the world of online casino gaming, even though most games show the logo of their developers when they load, few people could name more than one or two casino game creators.
While some developers rise in popularity due to one or possibly two very good games, a more common practice to instantly boost the general appeal of a game is to go branded. One of the best developers at creating branded games is NetEnt. As explained at netent.com, the leading creator of slot games utilises its premium trademarks to their full potential with games like Planet of the Apes among others.
Players may not immediately recognise the name ‘NetEnt’ or even know which online casinos have NetEnt games, but they do recognise Planet of the Apes. Boasting a brand in this way will always appeal to crossover fans that enjoyed the original product as well as the genre of the new branded product, in this case, slot games. Even if the glut of the offering is unique, being associated with a brand or having a branded offering can help to draw in customers who simply recognise the brand. This can then lead to them exploring the rest of the website.
Operators and developers within the iGaming industry know how fierce the competition is, and so, they’ve been offering free stuff and creating games for well-known brands to help them to stand out and attract more players. If applicable, see if the lessons of the ongoing iGaming wars can help your online business.
