How Online Casinos are Strengthening Their Position

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Online casinos have experienced major revenue surges as a result of lockdown restrictions on their physical counterparts. Now, with physical casinos reopening across the world, this honeymoon period is over, and online gambling firms must consider how they will strengthen their position in a new landscape. Let’s take a look at some of the online gambling trends that are emerging due to this.

Supporting Diverse Payment Methods

In order to capture increased market share, online casinos are adopting a future-focused approach to payment methods. This includes accepting cryptocurrencies such as Bitcoin as payment. As the number of individuals worldwide using cryptocurrency continues to grow, online casinos are finding that this is becoming an increasingly viable payment option. Reduced fees also increase the attraction of crypto for gambling providers and customers alike.

This method of payment is not going to be replacing traditional methods anytime soon. However, it does represent a way in which online operators are diversifying the options they offer to customers.

Online Casinos Following the Gaming Curve

Diversification is not just about payment methods but is also related to the gambling products that casinos provide to customers. Alongside traditional casino games, many providers also offer sports betting, and this is one area in which customers are demanding increased options.

To meet this demand and stay ahead of gambling trends, many providers are turning to eSports. Video games were once considered simply a leisure activity ā€” something to be enjoyed at home, either alone or with friends ā€” but elite-level gaming has now become a serious spectator sport. From 2018 to 2023, viewer figures are expected to grow by 9% CAGR each year. This is a revenue source that online gambling companies will not want to miss out on.

More Promotions and Offers

Promotions and offers have long been a part of the online casino landscape. These deals capture the attention of new customers and encourage them to build longer-term relationships with gambling firms.

As physical casinos begin to reopen and restrictions begin to ease around the world, it looks likely that casinos will have to work somewhat harder to solidify their market share. This may manifest in attractive promotions and offers to nurture leads, as well as rewards and bonus offers for loyal clientele.

A More Tech-savvy Focus

Customers are increasingly looking for a more immersive experience from online casinos. To provide this, casinos are embracing the latest technology, including virtual reality or VR.

VR headsets ā€” and the digital technology that supports this ā€” were once prohibitively expensive. In 2021, however, this technology is becoming more and more affordable and accessible. NetEnt broke exciting new ground when they launched the VR game Gonzo’s Quest, and we can expect to see more of these online gaming products ā€” with a gambling focus ā€” in the near future.

An Exciting Time for Online Casinos

Increased competition in the market and a major revenue injection during lockdown are forcing online casinos to become more creative with the offerings they provide to customers. Expect the next few years to be very exciting indeed as casinos seek to optimize their position in the market.

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