The online gambling market has tripled in the UK since 2014’s new legislation, and it continues to expand. In that regard, more and more sports betting operators are shifting their focus to online casino branches.
The robust growth of the remote gambling industry is powered by improved communication technologies, the rise of disposable income and the implementation of supportive regulations. Online casinos are now more accessible than ever. No wonder sports betting companies are eager to grab a piece of this huge market pie. Here are some more reasons that make the diversification so alluring.
Upside market potential
The online gambling industry has seen immense growth since its inception in the 90s. In 2017, the market volume was estimated at almost $46 bn and, according to Statista, it will double in the next five years. The earlier a company joins the market, the larger the portion it can claim.
Diversification of interests
Remote casino players make up 11% of worldwide internet traffic. Though sports betting still makes up the largest share of online gambling in Europe (over 40%), casino games are the closest follower with 31%. Since not everyone is interested in sports, well-known games like roulette and blackjack attract more players and boost revenue. Moreover, new formats allow betting on virtually anything: from election results to the name of a new-born royal heir.
Nowadays 56% of the world’s population have internet access, compared to 16% in 2005. The more people have a proper connection, the bigger the market and the more potential gamers a casino can have.
Mobile devices allow placing a wager at any time and from any place. Punters often use their commuting time to gamble, or they might enjoy a game at lunch. The access to an online casino is easier than ever; one just needs a smartphone and an internet connection.
The UK gambling industry is old and mostly settled, so brands are looking towards newly emerged betting markets. For example, in May 2018, the US lifted a federal ban on sports betting in 46 states, and operators are now pushing the liberalization of online casinos. On the other hand, the Asia Pacific market is expected to grow at 14% with their relaxed laws. The potential is enormous, and UK companies are willing to take advantage of it.
The online gaming industry is in the vanguard of the latest cybersecurity trends. For players to feel safe, casinos need to ensure secure payment methods and guarantee fair play. They adopt technologies like blockchain to achieve safety and player anonymity.
Social media has made marketing more personalized than ever. It has allowed the evaluation of players’ preferences to reach target audiences with products they would like. Social media engagement, welcome bonuses, instant rewards and other marketing incentives all work to get more clients and make them play more.
Online casinos and sports betting sites are similar in core regulations and require mostly the same protocols. So, betting operators have a leg-up while launching an online casino branch. With further advancement of technologies, the mass appeal of remote gambling will also rise. The industry is turning into a major form of entertainment, and online sports operators are chasing the propelling market trends.