How online casinos are expanding into sports betting arenas

You can agree that online platforms have really helped advance the gambling industry. These platforms offer a heightened level of convenience, allowing players to gamble from anywhere at any time. And looking at the statistics, DemandSage approximates the number of people who love such experiences to be about 882 million. SkyQuest Technology Consulting has also commented on the industry’s popularity, expecting it to jump from $78.14 billion to $201.93 billion by 2032.

As the industry expands, player preferences also shift. Today, gamblers won’t sign up for an online platform just because it allows gambling from anywhere. According to various experts in the industry, casinos must also integrate other features like seamless website experiences and bonuses if they are to appeal to modern players. Even Erik King claimed that without features like welcome promos, free spins and weekly bonuses, operators may have a difficult time retaining players. Bonuses are excellent options for increasing conversion and retention rates because they make the gameplay more engaging.

But again, as an innovative brand, you don’t just want to exist in your slot-and-live-dealer lanes. Exploring other already existing markets, like sports betting, can be handy. Interestingly, Grand View Research recently valued the worldwide sports betting market at $100.9 billion and projected it could reach $187.39 billion by 2030. So, how are online casinos penetrating this high-potential industry?

Taking advantage of the growing need for convenience

With consumers’ lives getting busier daily, convenience is quickly becoming a faster-growing megatrend than ever, often outweighing price and service as a top priority. Euromonitor International says over three in ten global consumers want shopping experiences that are anytime, anywhere. Others will even pay a 5% price premium for convenience.

Another study by Morgan Stanley discovered that 77% of consumers consider convenience in terms of accessibility and availability critical to their shopping experiences. To take advantage of these statistics, casinos have been integrating sports betting experiences on their platforms. If you are a casino fan who enjoys sports wagering, you won’t need to switch to a different platform to immerse yourself. Everything is provided for you under one roof.

Mark you: spotting a reputable wagering platform can be a hassle. So, if a platform allows fans to avoid this process by integrating sports betting offers, it could cause them to become loyal. To tighten the experience even further, it can consider adding more immersive experiences, such as live bets. According to GlobeNewswire, live betting accounts for more than half (54%) of all wagers, highlighting why it can be a strategic way to appeal to sports fans.

Catering to the prevailing need for mobile-friendly encounters

It shouldn’t be surprising that, according to TGM Research, 77% of wagers are placed primarily through mobile apps and devices. Using these devices is quite convenient, and as already mentioned, many gamblers want such experiences. And no forward-thinking brand would want to miss out on such a trend by not optimising their websites for mobile usage.

Failing to optimise your website could frustrate up to 74% of visitors, who, according to UXCam, always come back because of mobile-friendliness. Worse still, you may end up losing over 60% of shoppers who never return to mobile-unfriendly sites. To avoid such losses, casinos are developing sites with clean and straightforward layouts, where bettors can find the sport or market they want without delay.

This explains why most have adopted responsive designs. These designs use fluid grids and adaptive elements, ensuring websites look and function well across multiple devices. And by hiding or removing non-essential content, the designs ensure faster web loading times, which is handy during in-play betting.

Remember, even a two-second lag can mean a lost opportunity when trying to make a live bet. However, if bettors know they won’t encounter such experiences on your platform, they will be more likely to remain loyal.

Partnering with reputable names

Well, sports sponsorship is not new. Since maintaining a sports club is usually capital-intensive, these collaborations are often welcome to help collect more funds to pay athletes and acquire necessary equipment. However, not just the teams benefit; sponsors can also enjoy benefits like increased brand visibility and reputation.

Think of these collaborations as a close friend recommending a brand. You will likely transact with the recommended brand because you trust your friend. Similarly, when a casino collaborates with a reputable team like the Cleveland Browns or Manchester United, it sends a message of reliability, encouraging exploration. It’s common knowledge that such reputable teams won’t easily associate themselves with scamming sites.

Also, consider the number of followers these teams have. Manchester United, for instance, is believed to have over 650 million fans worldwide. Imagine the exposure a brand can experience with its logo on this team’s jerseys. And, of course, the more visible the brand is to potential consumers, the more likely it will attract them. This is why you may have seen several casinos partnering with popular teams.

Such moves make a lot of sense, mainly because of the increasing competition in the casino industry. Today, operators must be innovative and strategic to stand out in this sector. However, since other markets like sports betting offer great opportunities, operators have been diversifying their target audiences. And thankfully, sponsorships and providing seamless and convenient experiences can help improve competitiveness in these markets. Integrating experiences like streaming can also help reach many more people.