The online gambling industry has been a major area for financial growth over the past few years and it is a trend that seems set to continue for the foreseeable future.
A 2017 report by Oristep Consulting claimed that the global online gambling market is expected to exceed $80 billion by 2022.
Read on for the top four areas for growth expected in the industry over the next few years.
Use of alternative ways to fund accounts
Online gambling allows players to use digital payment methods which eliminates the risk of carrying cash as you would if you visited a casino or betting shop.
Debit and credit cards have been the most popular payment methods as the industry has grown, but e-Wallets and cryptocurrencies like Bitcoin have become many people’s preferred option for deposits and withdrawals in recent times.
Understanding the games before spending your hard earned cash at an online casino is important, and accessing information such as this step-by-step guide to roulette is a great way to help you make a profit from your gambling activities.
More women are enjoying gambling
Female gamblers accounted for 49% of the market in the United Kingdom in 2015, although research has shown that they prefer to gamble in private so that they can play confidently and feel less intimidated by male players.
This gives gambling operators a superb window of opportunity, particular those who are developing virtual reality technology.
VR allows players to immerse themselves in a casino environment without ever leaving their own home – something that would potentially appeal strongly to women.
New marketing strategies
Direct mail remains a popular way of attracting people to gambling websites, but operators are constantly searching for new ways to increase their income streams.
The challenge for companies is to ‘sell’ to their customers via social media platforms or websites without being seen to be overly intrusive to their experience online.
Many people skip through advertisements, but if it is included in content that is both informative and entertaining they are more likely to be receptive to what they are being offered.
Changing consumer gambling habits
The global online gambling market has seen significant changes in consumer habits, and increases in the usage of apps and social gambling are amongst the factors expected to drive market growth over the next few years.
An increasing number of operators have started to optimise their sites for mobile devices, while more and more people now take part in social gambling leading to a rise in games that allow family and friends to socialise and interact through online sites.