Online casinos are becoming hugely popular around the globe, with more players than ever logging on to enjoy the casino experience from the comfort of their own home. Some of the most popular games include online slots, poker, blackjack, and roulette.
This fast growing industry is set to be worth over $22 billion dollars in ten years’ time, from just $5 billion. The countries with the biggest growth trend include western countries such as the United Kingdom, most parts of Europe, the United States and Canada.
As the accessibility and performance of smartphones, tablets and PCs has improved, more people have the opportunity to find and play these types of games. The increased use of social media and search engines also means that there are more opportunities to see advertisements and promotions for these sites.
In the US and Canada, the increased popularity of this industry has been driven by changes in the legislation and actions taken by governments and stakeholder groups. The benefit of employment opportunities and taxation has become more widely recognized.
Consumers are also becoming more aware of the regulations and licencing that has been put in place to encourage safe gambling. These help to prevent harmful gambling behaviours and restrict those who are underage from accessing casino platforms.
Increasing popularity has led to far more competition for online casinos…
With more and more players signing up to online casinos and new providers frequently joining the web, the market has now become highly saturated. This has presented a number of new challenges for online casinos who must now fight to stay ahead of the competition in order to retain and grow their revenues.
To remain competitive, these businesses most have a unique selling point, a wide selection of games with regular new releases. Importantly, they must know how to communicate with their customers as well as how to reach potential customers.
For any online casino to succeed in such a difficult market, something that they must be able to establish is brand loyalty. It is five times easier to keep a current site user than it is to find a new one.
Brand loyalty can have a significant impact on site revenue. As a general rule, your loyal customers may make up 20 percent of your customer base but will contribute to 80 percent of your business’ revenue.
Loyal players will keep returning to your online casino to play their favourite games, they will also be more open to trying new ones that you release on your site. You might also find they are happy to spend more money as they have greater trust and familiarity with the casino and its features.
It is important for gambling providers to reward their loyal players so they return back to the site.
Your most loyal customers can also do some of your work for you by bringing in new customers through referring you to family and friends. These customers unknowingly act as brand ambassadors, but this can of course go both ways as if they aren’t happy with something they may shout about it through online reviews or word-of-mouth and damage your reputation.