The online gambling industry has been growing rapidly over the past decade or so. During the recent pandemic, the numbers were at an all-time high, given how many were bored in lockdown. It has become abundantly clear that this is a lucrative business model, which is why a lot of countries are actually changing their position on gambling restrictions. Here we will examine how smartphones had an impact on the business model and made it even more appealing. We will go over the marketing approach, innovation, user incentives, and the product itself.
Businesses Going Digital
Both land-based casinos and sportsbook operators saw the amazing potential of iGaming. Given the number of platforms out there you would think that the market is oversaturated and that competition is tight, but we will see later why that’s not exactly the case. Ever since restrictions on online betting and gambling started to loosen, more stock investors began to support the online casino industry.
Moreover, a lot of land-based casinos started working on releasing their own digital platforms and mobile apps, in order to make their content more accessible. This accessibility plays a huge role in this business model, and accessibility comes by making your site or in this case casino platform mobile-friendly.
On-demand Entertainment
We are living in an on-demand culture, which on its own has a huge impact on our expectations and habits. Online casino businesses really hit the mark when it comes to this accessibility and fast-paced service, especially by making it available on mobile.
The idea is to allow users to register fast, to fund the account, or even in some instances to start playing without funds and to also withdraw their money fast. There is a category called the online casinos with best payout which UK players use to identify a gaming platform with good payment options. Basically, sites are compared based on how quickly you can have access to your winnings and how many payment methods they can accommodate. With so many agile companies working on digital wallets, money transfers are now faster than ever.
This just goes to show how important this on-demand culture shapes our expectations, and if you can access casino games from anywhere, so long as you have a smartphone and access to the internet, then that’s as on-demand as it gets.
Mobile Apps
Having the ability to access your favorite casino, within just a few seconds, without typing anything into your browser, is a definition of accessibility. Therefore, people with apps on their phones are more likely to play on that platform than to search for another one in their browser. This brings their games even closer, as they don’t have to wait for a site to load and they don’t have to log in.
Moreover, having apps allows casinos to manage a higher number of users. Any website will slow down, depending on the server proximity and depending on the number of actions it is simultaneously performing. If there are more users doing different things on a site it can result in a negative experience for everyone, having a mobile app alleviates some of those burdens. If the base is segmented in this way both app and online platform will run smoother.
Finally, users are concerned with security and protecting sensitive information. This is something Apple is aware of and markets iOS products as more secure. This also means they due diligence apps to comply with those security standards. So, if an app is available on the App Store, users know it’s a safe way to play and enjoy their entertainment.
User Incentives
One major aspect of this business model is user incentives or welcome bonuses. The idea is to allow users to play as soon as they create an account and give them a generous bonus before they start to deposit funds. These are called no-deposit bonuses and online casinos that offer them tend to be very popular. As stated a user is more likely to play games that are available in-app form rather than go on a website, so there are casinos that are creating special incentives for those who install the app. This way they ensure their players are less likely to go to their competitors.
Conclusion
As you can see there are many things that make this business model appealing, and the product itself is more or less the same. The real question is how to get noticed and be more appealing to modern users. One of the ways or nowadays a necessity is to have a product that runs on smartphones.
