According to market research, the gambling industry is currently worth close to $100 billion, which is expected to reach about $114.4 billion by 2028. These numbers are huge and are indicators of a thriving industry. The good news is that the numbers are also expected to continue improving as more people embrace gambling.
However, many observers are curious to know how the industry continues to grow amidst many challenges faced by the world economy. The global pandemic ushered in a lot of economic bottlenecks for all sectors, and while the gambling industry has lived in a sort of bubble throughout this period, we cannot neglect the fact that the sector is still a part of the larger society, so a lot of adaptations are needed to maintain the current growth trend.
In this article, we will highlight how online casinos in the United States and other parts of the world have been coping with the recent financial and economic downturns. It is no doubt that these establishments continue to sign up more players and increase revenue in the midst of all these turmoils. You will discover the many adaptive strategies they have used to maintain relevance and the lessons other industries can learn from them.
Some Techniques Employed By Gambling Platforms To Beat The Adverse Economic Downturns
These are some of the known strategies casino and gaming establishments have used to remain relevant in the current world financial depression.
1. Providing Freebies to Customers
This is one of the obvious ways gambling platforms attract customers. Everyone loves freebies, so gaming establishments leverage this knowledge to attract more players. Players feel appreciated when they are rewarded and tend to play more games or try new things with their bonuses. In many cases, a player will discover a new game or title through these freebies and fall in love with them. Ultimately, they return to play these games with real money and even recommend the games or the site to their friends. This is a win-win.
Apart from gaming bonuses, brick-and-mortar houses give players free meals and drinks, including complimentary gifts to VIP members or those who have patronized them well. Meanwhile, online platforms attract new members with a welcome bonus, free bet, and spins. Freebies make gamers believe it’s easy to make money with gambling platforms, making them come back for more.
2. Possible Winning
Another strategy gaming platforms use is displaying the possible amount a player can win when playing a particular game. Some platforms also display the winnings of other members.
Humans are attracted by success, especially what they see others doing. It’s usually a case of, if he can do it, I can too. This makes gamblers view winning as possible, increasing their confidence to try their luck for a chance at hitting the jackpot.
3. Promotions and Email List Marketing
Almost all gaming houses use specific email marketing techniques to promote their offerings. When a user has visited a casino for a while — the establishment can reach out to them via email to inform them about a new game or any of their ongoing promotions and give them a discount to try out the games.
Many sites do this by collecting players’ information during the registration phase. General details like email addresses, phone numbers, game preferences, and others are collected and utilized for this purpose.
4. Research and Metrics
Every top gambling platform understands that they need to spend time performing market research so they can understand their customers and know the trends in the industry. When a gambling portal researches a particular behavior users associate with a feature on their website, they can understand if players love it or not and decide to remove or keep the feature on their website.
For example, with the help of research, a platform can discover that more teenagers love playing video games. They can create and simulate something similar on their website to attract younger people. Also, operators use their website or app algorithm to understand a player’s game preference and use the information to suggest other games the player would enjoy.
5. Tournaments
Gambling establishments understand that some of their customers love competing with other people, so they organize tournaments on their platforms. People who love high-paying games and competing with others are always on the lookout for platforms that provide such an opportunity.
This is usually done by scheduling a daily, weekly, and monthly tournament, so they publicize the event and the potential win to both existing and new users to sign up for them.
Final Notes
Both brick-and-mortar and online gaming platforms use different marketing techniques to attract new players and gain a competitive advantage. In the end, they’re able to get you to play games on their platforms and keep the revenues coming through. This inventiveness has helped them grow amid global economic distress.
