Just after the first online casino launched in 1994, the casino industry took another trajectory. What would need you to perhaps plan for a Las Vegas visit to immerse yourself could now be accessed from anywhere. This transition saw the initially niche industry grow to have a global following across numerous cultures.
As of 2024, the global casino had reached $305.8 billion, according to Statista, which is expected to increase even more in the coming years. Why do you think this is so? Well, if you have such questions, then you need to read this article.
The power of bonuses
It’s actually almost impossible to find a casino platform that doesn’t offer bonuses. Perks like the DraftKings Casino promo code make the gameplay engaging by providing an opportunity to learn new games in a risk-free environment. Players can also use them to learn new skills, which can actually drive player retention.
Remember that acquiring new players has become more expensive than ever. Some studies agree that acquiring a new player can cost you at least five times more than retaining an existing one. And since the market has become very competitive, you want to take advantage of any available opportunity to stand out.
According to studies, bonuses have stood the test of time. Do you actually know that, according to Business Dasher, loyalty programs can increase customer retention rates by 25%? As if that were not enough, such programs could encourage up to four in five customers to continue transacting with a brand.
It gets even better when you’re launching a new game, as loyal members may easily welcome them. In fact, HubSpot Blog notes that returning customers are 50% more likely to explore new offerings than new customers. So, seeing many operators diversifying their bonus offerings should not surprise you at all. And with this trend, we may see more people joining the sector.
Aligning with popular trends
Assuming you were making a trip around Los Angeles and you needed to participate in some casino experience but didn’t carry your laptop. You then opt to use your mobile device because it is perhaps the only option. Imagine the experience if you had to pinch or zoom apps and browsers to participate. This is definitely an experience no one wants – it shouldn’t be inconsistent just because you’re using a mobile device.
Since mobile technology has made it possible to engage in entertainment even on the go, operators are adjusting by creating responsive designs, which automatically adjust to fit multiple devices. That way, players can have seamless experiences as they would on their desktops and laptops. Globally, more than 90% of businesses have already implemented these designs, mirroring a trend that could become the new norm in the casino industry.
You definitely do not want to miss out on the benefits of responsive designs, which, according to studies, can lead to 11% more conversion rates than non-responsive designs. On top of that, responsive websites improve readability and interaction and increase the time spent on a website, which could lead to players trying out more new games.
Does personalization play any role?
Another thing you may have actually noticed in this sector is personalization. Online operators are now using customer data to understand them more and provide more tailored experiences. This was not possible in yesteryears. Well, as much as it was possible to have some hint about customer preferences, operators could only access limited data.
But with this digital age, things have really changed. As players engage on your platform, you can extract data about their preferences, playstyles and so on to help you understand customers better. After all, no one wants to start a business only to close it down after a short while because it doesn’t align with customer needs.
And you may actually be surprised to learn that more than 81% of modern shoppers expect businesses to tailor their experiences. According to Contact Point 360, offering such experiences could encourage up to 75% of customers to make return purchases. That explains why finding more tailored encounters on many online casino platforms is now possible.
Think of a scenario where you visited a platform and were immediately met with recommendations that perfectly align with your tastes. It’s like clicking on a Spotify playlist just to realize that it has almost all the songs you’d love. At a time when players are pressured to find favorite titles from the thousands of available options, offering such experiences can really be a great way of improving competitiveness.
According to McKinsey, operators could use such statistics to appeal to broader audiences because about seven in ten customers expect personalization. And because this is already happening, we could see the industry grow more in the coming days.
What is our final word?
Everyone can agree that after online platforms became popular, things have never been the same in this industry. In fact, this has made it possible for millions of fans to join the sector.
As if that is not enough, online platforms allow operators to get in-depth insights about players, which comes in handy when personalizing offers. It seems we’re at the infancy stage of what may become the new norm, so you will do well to keep watching the industry to see how it evolves.
