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How Can New Companies Succeed in the Overcrowded Online Gambling Market?

Companies / Gambling Sep 21, 2018 - 01:06 PM GMT

By: .....

Companies

  • In a hugely competitive marketplace, new companies find it difficult to find their niche
  • Exclusivity and quality website designs has become the go-to for new online casinos
  • Targeting certain demographics can help new companies stand out and achieve success

The gross-gambling yield in the UK last year was almost £15 billion, with over a third of that coming from the online gambling industry. The rise of online gambling has been so significant and quick, it’s even begun to affect how even the classiest bricks-and-mortar establishments are faring in the spiritual home of gambling, Las Vegas.

Nearly one million less people are making the trip to Sin City annually and one of the reasons for this is that people are preferring to play their favourite casino games or slots from the comfort of their own home.

In the UK, the progression of online gambling into the public’s consciousness is unprecedented. Bookmakers advertise on billboards across the country and adverts for online casinos are almost inescapable on TV.

Given the popularity of gambling and betting in all forms, how do new brands manage to succeed in such a crowded marketplace? Let’s take a look at the issues facing new betting companies and how they are overcoming them.

Sports Betting: Brand Identity

Punters have access to a wide range of betting options today. One of the biggest is sports betting. 9 of the 20 Premier League clubs are currently sponsored by sports betting, whilst there are 16 more in the Championship and League One.

Gambling adverts used to be limited to airing after 9pm, but tune in to Sky Sports or BT Sports at 12pm on a Saturday and you’ll see a whole host of betting ads. At half-time Ray Winstone will tell you the odds for the next goal scorer, Jeff Stelling will show you the odds available for this afternoons fixtures – and so on.

The two betting companies they’re promoting have found their niche and they stick to it – while other companies that offer sports betting have found different ways to reach out to an audience. One is to make funny jokes and wise cracks on social media – a la Paddy Power – while some even come up with tongue-in-cheek promotional offers and offer outlandish bets to persuade people to sign up.

Despite sports betting being a crowded market, there are ingenious ways that bookmakers have found to gain an edge over their competitors. One of the prominent ways of doing this is to create a strong brand identity.

Casino Betting: Exclusivity

The first thing that comes to mind when you mention a casino to most people, is the luxurious, decadent centres of gambling in Las Vegas. However, the reality is often very different – as you’ll see by visiting most casinos on a Friday night in towns and cities up and down the country.

Online casino providers don’t want to focus on the dingy image of a casino that has seen better days. They want to make their customers feel like they are James Bond, recreating the special agent’s casino exploits on their laptops or mobile devices. As a result, the branding and design of online casino websites is often very sophisticated and up-market.

There tends to be an absence of bright, vibrant colours – replaced with classic casino colour palettes of black and white with darker shades used to create a less garish design. This is because they want punters to feel like there’s an air of exclusivity to their websites

The main aim is to make customers feel like they are in the Casino de Monte Carlo, rather than the Casino de Rotherham. By offering a quality gaming experience, operators create an air of quality around their brand – promoting a classy experience that can encourage customers to part with their cash. This is key to their success in the online casino market.

If the online gambling market is so crowded, how can you succeed?

That would be a reasonable question to ask when looking at a market that appears full to the brim with competitors. But one way that a new gambling operator can succeed is by effectively targeting their customers.

The current offerings for punters all seem to be aimed at young men, with advertising targeting those primarily interested in traditionally male-dominated markets such as poker and football.

There are still a number of demographics that are relatively untapped and could provide new companies with a potential gold mine of revenues.

One of the companies that are demonstrating this perfectly at the moment is Rose Slots, who specialise in online slots.

Its audience is different from other mainstream gambling operators. Its brand targets middle-aged women – this is reflected in all of its advertising, marketing and website, game designs – and general product offering. While the female market tends to be ignored or overlooked by traditional bookmakers, Rose Slots is seizing a huge opportunity – as many older women with disposable income and a lot of free time take up slot games as a hobby.

Just look at the many UK slots online offered on the Rose Slots site and you’ll see how targeted they are towards the middle-aged women demographic. In doing this it’s been able to build a loyal following and customer base that’s distinctly its own.

Just as some sports betting enthusiasts feel loyal, many Rose Slots users wouldn’t dream of using another online gambling site as they feel that Rose Slots is made for them – providing a distinct alternative to the other male-centric providers, and something that’s tailored to their lifestyle and identity.

A brighter future for those willing to diversify

With the market expected to continue its expansion and success in 2019, there will continue to be more companies entering the market or merging with existing providers to capitalise on the online gaming boom. Newcomers hoping to break-through need to find their USP and capitalise on that with their products and marketing.

Luckily, there appears to be untapped demographics and markets that new companies can choose to tailor their offering towards. Sourcing these opportunities and making the most of them could help those aspirational companies find their place in the shark-tank that is the UK online gambling market.

By Jamie

© 2018 Copyright Jamie - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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