Outrunning competitors is not an option to take or not to take — it is about survival in a highly competitive business of online gambling. It is one of the most competitive sectors of the economy in the world. We’re considering good tips in this article that can help our readers outcompete in the market and flourish.

Overview of the iGaming Industry

The iGaming industry has been experiencing growth in the past 20 years, even during the pandemic. It is a lucrative business opportunity despite many challenges it faces every day and various limitations that are imposed in the industry in various countries. Let’s consider some basic numbers that characterize the modern iGaming industry.

  • The global iGaming market will reach $107 billion by the end of 2024. And it will grow to $154 billion by 2030, showing about 7-10% annual growth on average.
  • In the US, where it is legal fully only in 6 states, the gross revenue is over $11 billion a year with approximately the same growth rate as above. Only poker alone surpassed $1.5 billion in revenues in the US.
  • The number of global gamers is around 600 million as of today, adding around 25 million a year for the past 7 years.
  • Expenditures on advertising in this industry exceed $12 billion globally in 2024, with approximately 5% annual growth in the upcoming 10 years.
  • The trends of growth are the most significant in South America and Africa as emerging markets.
  • Mobile gaming is on the rise and it will not stop in the foreseeable future because of its convenience and an increasing number of people getting access to mobile technologies.
  • Europe dominated this market in 2022 with a share of 41%, where it is legal in many countries and locations of the bloc, such as France, Germany, Spain, Malta, Ukraine, Italy, and many others.

Challenges of Running a Successful Online Casino Business

Although the growth numbers of the industry are very attractive, in order to stay ahead of competitors in the gambling market, business owners and managers have to invest a lot of effort in the areas of daily activities as below.

Get ahead of the online casino race with expert strategies

Attracting new customers

Marketing efforts to attract new customers and reduce churn are a significant part of the business. Leading gaming venues invest in marketing from 5% to 15% of their profits in order to stay afloat and develop their customer base.

It is crucial to gain more clients than lose because it is only possible to develop successfully in the gambling area when a customer base is increasing, not decreasing.

To attract new clients to a gambling establishment, business owners can come up with interesting incentives, such as bonuses, mobile-friendliness of their website or a dedicated mobile app, affiliate marketing, tournaments, prize raffles, high-quality gambling experience, cross-promotions with other platforms and brands, unique games, immersive infotainment pieces, and positive online reviews.

Retaining existing customers

Some clients leave for good or become inactive. That’s inevitable in every business because clients have a natural lifecycle within a business.

To reduce customer churn, pretty much all the methods described above are effective. Additionally, programs for loyal customers must be exceptional to make people really want to stay and play more.

Along with the gaming and financial incentives, a house of gambling must build its business with elements of transparency, social responsibility, and responsible gaming practices. Things like that may attract people and make them stay.

Creating a loyal customer base

Fostering a loyal customer base is done via:

  • Wonderful gaming offers (in quality and quantity)
  • Great UX and customer service
  • Achievable, transparent, and non-discriminatory rules and terms
  • Personalization of bonus and promo offers
  • Various events that create the buzz of the living gaming parlor: tournaments, prize drops, wheels of fortune, new games, raffles, etc.
  • Bonuses for birthdays and other milestones
  • Low wagers, unlike the skyrocketing ones in recent years across many gambling establishments
  • Amazing loyalty programs that are designed to last
  • Taking the feedback of users seriously and improving based on that
  • Actually helping punters and changing to their needs, not fencing them off with a number of rules made up to look solid on paper.
If you want to run successful online casino marketing, you must educate yourself every day

Keeping up with the competition

To keep up with the competition and build a successful online casino business, one has to be abreast of the market, constantly studying it and searching for new trends. This means embracing new technologies, approaches to infotainment, segmentation, and advertising, as well as adopting cryptocurrencies.

It is also important to offer a diverse range of games and providers to outnumber the competitors. Along with that, it is necessary to invest in the development of the gaming club and its marketing.

Advanced CRM and data processing software and hardware should also be in the limelight of the attention of stakeholders of gaming parlors. In a world where both standardization and personalization develop constantly, it is important to offer both of these to the clients because your competitors are likely already doing that.

Staying ahead of regulations

Rephrasing one popular saying, the regulative landscape is constant in only one thing: it constantly changes. Therefore, stakeholders of betting clubs shall have a finger on the pulse of legal changes about the work of gambling in their geos to successfully prepare themselves for these changes. Thus, when they happen, they won’t be surprised.

Changes are not always for good, certainly. Oftentimes, they forbid some activity, make it harder, or too expensive to continue. Knowing about the negative changes beforehand allows for keeping the business alive by, for instance, changing its legal jurisdiction on time or introducing the necessary changes to the business processes of the company.

Establishing trust

Fostering trust in a gaming venue among audiences is an ongoing task, which consists of:

  1. Transparent and reachable terms of games, of behavior in the gambling establishment, and all aspects of pastime therein. If there are many forbidden things to players (especially if they are grounded on nothing, like, forbidding the usage of the Martingale system in the bets because it is victorious for gamesters), people won’t want to come here and spend their time and money to play, looking for better places.
  2. Great customer support that is always polite, always helpful, and always empathic. Encountering some bad attitude even once kills the entire desire in a person to come back to such a venue ever again.
  3. Secure payment methods, making sure money is transacted safely to and from a betting club, no matter via what method.
  4. Good reputation on third-party web resources.

Strategies for Running a Successful Online Gambling Business

Now let’s consider the strategies for building and operating the gambling business on a daily basis.

Offer Unique Bonuses

The uniqueness of bonuses is designed to compete in the market. In those geos where it is possible to set up any volumes of bonuses, this happens thanks to the numbers. Let us explain. If the direct competitors offer +200% to the deposit and 50 free spins upon registration, just make it +300% to the deposit and 100 FS. If they increase their offer following you, increase in return — until someone wins in this chase.

If it is hard to offer one large lump sum of bonuses, smear them among several deposits or events, like, give ‘em out for 10 first deposits or every week during 5 consequential weeks. If it is in one’s financial capabilities to compete like that, it is definitely worth giving a shot.

Develop an Effective Loyalty Program

A loyalty program is designed to reduce client churn and improve the longevity of the average life of a customer in the venue.

To all customers who stay with the gaming parlor long enough, such things could be offered:

  • Better depositing and withdrawing limits
  • Personal manager to solve various issues and bring interesting offers to one’s attention
  • Better promos and bonuses
  • Higher cashback sizes
  • Presents when rising to another stair in the VIP ladder, etc.

For ultimately special VIPs that can be considered UHNW individuals, promos can be absolutely insane, designed according to the high LTV of the customer, such as:

  • Passes to exclusive and closed events, like parties, soirees, sports events, shows, concerts
  • Entrance to VIP-only lounges in places
  • Tickets to vacations to luxurious places and excellent travel packages
  • Gifts like specially crafted rings, necklaces, chains, watches, high-end merchandise, designer goods, and the like
  • 24/7 concierge service
  • VIP tickets to conferences and events in the world of the business area of a casino gamer
  • Ultra bonus offers in the casino
  • Private gaming tables in live games with special croupiers at the discretion of a client, etc.

In fact, when it comes to the design of UHNW gifts, only sky is the limit. Not even that, though — how about a ticket to a spaceship to make a space trip, like Virgin Galactic?

Utilize Social Media

SMM (Social media marketing) is a popular direction that is effective for a large variety of social networks. Bear in mind, though, that many — if not all — social networks in modern days prevent any gambling-related content. Amongst them are such giants as TikTok and LinkedIn. Some others, like Facebook, Instagram, Snapchat, YouTube, or Twitter (X) allow it with great limitations. Sometimes, they are so great that it is rather wiser to refrain from trying to place gambling ads in them at all.

As it becomes harder every year to navigate the limitations of social media imposed on ads of betting clubs, it is still possible to advertise across a limited number of jurisdictions (when following a number of rules). Yet, it is also advisable to look for other channels of advertising gambling establishments.

Stay ahead of the competition with our proven tips

Utilize Influencer

Influence marketing is responsible for a large chunk of customers brought in. On par with affiliate marketing, it can bring from ½ to 2/3 of the volume of newcomers. However, these channels of client acquisition are rather expensive. When it comes to TikTok, macro-influencers with 500K-1,000K followers take $1K-$2K per post. The same for Instagram in the same category costs $5K-$10K. For YouTube, the same goes from $1,000 to $10,000 per video post. On Twitter, it is from $0.5 to $4 per follow/promoted ad.

So, if there is a desire to start working with influencers, prepare for a larger marketing budget than usual. That’s why this opportunity is used majorly by the biggest and richest gambling companies.

This information will help you stay ahead of competitors in the gambling market

Offer Free Play

Various free perks that are given by gaming parlors are a frequent occurrence. These can be free play, free bets, or free spins — all designed for respective kinds of betting. Free bets are usual for sports betting while free play and free spins are used for casino games.

People love free perks — especially those where they can still win, not losing their money in the betting process.

Run Promotions

In addition to bonuses, there are many opportunities for successful online casino marketing. For instance, it is possible to run periodic or constant tournaments, prize drops, raffles, contests, instant lotteries, and things like that. The more a gamester is involved in the fun pastime process in the house of gambling, the more they are prone to spend money, increasing such indices as ROI and LTV.

Also, not very standard promotions can be run. Like, the first 50 people who register and make a deposit in the period from 1 AM to 3 AM on the X day, receive 500 dollars on a bonus account with low wager. That creates a sense of urgency and thrill.

Run Ad Campaigns

Advertising is the most classical means of promoting one’s offer. It is a relatively cheap and the most widespread method today. And since it is the oldest (at least, it migrated with no fundamental changes from the offline realm), it has standard rules, which are known to many people. That’s why various advertising campaigns are still a thing.

Ads can be in the offline and online forms. Offline options include print media, radio, TV, billboards in the streets and on buildings, city lights, direct mail, event sponsorships, guerilla marketing (flash mobs, stunts, or street art), and word-of-mouth.

Online options include SEM (PPC inclusively), SEO, SMM, display ads (banners), in-text commercials (as part of content marketing), video, affiliate marketing, email marketing, native and programmatic advertising, and remarketing.

Invest in SEO

SEO contributes to the natural promotion of websites and apps of gambling establishments online through the utilization of several mechanisms, such as keyword optimization, on-page and off-page content optimization, UX, mobile optimization, technical optimization of pages’ parameters (uptime, page render speed, page structure, schema markup, optimizing URLs, informativeness, scanability, crawlability), backlinks, and optimization for local SEO.

Partner with Other Companies

Partnerships can seriously affect the recognizability of a brand. The placement of banners of the company’s name on facades of popular sports events is one of the examples of such partnerships. Other examples could be helping one another in branding during events or permanently.

Integrate Marketing Automation Software

Tools development in modern days is high. There are many market solutions with AI or big data analysis that can really help in building a strong gambling brand. One of them is OptiKPI, about which we’re telling below.

The introduction of great marketing automation software can bring such benefits to gambling establishments:

  1. More targeted ad campaigns, streamlined for refined client segments.
  2. Personalized communication, up to every individual punter.
  3. Nurturing leads, improving the conversion rates, as well as better performance in cross-selling and upselling.
  4. Automated reporting, with reports to be adjusted in number and forms according to business needs.
  5. Client lifecycle marketing to engage them at every stage of their journey within the house of gambling.
  6. Smooth integration with CRM, back office, and front office systems of a gaming venue.

OptiKPI — The Best Marketing Automation Tool for iGames

OptiKPI streamlines CRM, marketing, and compliance for iGaming and fintech realms of business. It simplifies data management, automates reporting, and ensures compliance. Real-time customer data integration enables personalized campaigns across channels, with segmentation for targeted engagement. It supports email, SMS, and push notifications while prioritizing GDPR compliance and player privacy.

Success Stories

Below, we’re sharing the success stories of three users of OptiKPI.

1.

Customer: Royal Jackpot Casino

Challenge: Royal Jackpot faced challenges with ensuring compliance with gaming regulations and managing the complexity of regulatory reporting processes.

Solution: With OptiKPI, Royal Jackpot automated compliance processes, including player’s identity and age verification and responsible gaming checks. They leveraged OptiKPI’s data management and reporting capabilities to streamline compliance workflows, reduce manual errors, and ensure adherence to gaming regulations and industry standards in their geo.

Result: Royal Jackpot achieved a 30% reduction in compliance-related costs and a 50% decrease in the time spent on regulatory reporting tasks.

2.

Customer: BetMaster Sportsbook

Challenge: BetMaster faced challenges with targeting the right audience and optimizing marketing campaigns to drive player acquisition and engagement.

Solution: Using OptiKPI, BetMaster segmented players based on their preferences, betting history, and engagement patterns to deliver personalized marketing messages and promotions via various channels.

Result: BetMaster achieved a 40% increase in new player sign-ups and a 25% increase in player conversion rates within six months of implementing OptiKPI.

3.

Customer: AceGaming Casino

Challenge: AceGaming struggled with fragmented customer data and manual processes, hindering its ability to deliver personalized experiences and targeted campaigns to players.

Solution: Implementing OptiKPI, AceGaming integrated real-time customer data from various touchpoints, including website interactions, gameplay history, and transaction data. They used OptiKPI’s segmentation and campaign creation tools to create personalized player offers based on player profiles and behaviors.

Result: AceGaming saw a 15% increase in player engagement and a 25% increase in player retention within 7 months of using OptiKPI by delivering relevant and timely messages to players across mobile, email, and web platforms.

How to organize successful online casino marketing?

Conclusion

To be ahead of the competition in casino market, which is highly competitive, every venue needs a lot of daily work. We have described the most paramount actions that, with proper man-hours, investments, dedication, and devotion can bring significant results.

Discover winning tactics to stay ahead in online casinos

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