It’s actually no surprise that Market Data Forecast thinks the global casino market has already hit $308.52 billion and could reach $542.41 billion within the next few years. If all goes well, according to this prediction, the industry will have expanded by a CAGR of about 6.47%. But as this growth happens, operators are always faced with the challenge of overcoming stiff competition.
That’s why a good number have been taking advantage of popular things like sports to improve their edge. Of course, a huge percentage of the world loves sports, which explains why the casino world is tapping into its powers in ways that are both smart and wildly profitable. And if you’re interested in knowing how exactly the sports industry is a blessing to casinos, this is a must-read.
The Explosion Of Sports Betting
As we have already stated, the more the casino industry grows, the more innovative operators must become to get ahead of the competition. This is why it’s almost impossible to find an online casino without engaging casino offerings. In fact, with platforms like casinobonusca rising, finding the right bonus perk has never been as simple.
It’s actually true that these features can significantly improve customer experience, resulting in better business performance. But that’s not the only way operators are improving CX. By integrating sports betting into their platforms, they make it easy for casino players who love wagering to bet on their favorite sports. Remember, spotting the right betting platform can be challenging, given the many bookmakers available in the market.
This all-in-one encounter can encourage players to remain connected and even become brand ambassadors of your platform. And the ripple effects can be very mind-blowing, especially because most people tend to trust word-of-mouth more than any other advertising method. Besides that, the sports market is already expanding rapidly. Fact.MR values the global market at $102.4 billion and expects it to hit $265.5 billion by 2034.
As an innovative brand seeking to take advantage of modern trends, you don’t want to ignore such a statistic. There are everyday people who follow the Premier League and other international leagues religiously and just want to put a little skin in the game. They may never enter a physical casino, but they will download an app to bet on a Saturday night match. Online sportsbooks operated by major casinos are reeling in these users by the millions.
Improving Brand Visibility
Do you know that, according to several experts, soccer alone has a following of more than 3.5 million fans worldwide? If we consider other sports, this figure translates to a significant number of potential customers. So, how many people can see you when you partner with reputable sports?
And mark you: studies show that about half of consumers tend to easily transact with brands they recognize. Since producing brand awareness needs at least six impressions, featuring your brand on LED screens during matches and on players’ jerseys can really be handy.
But there’s more to logos on jerseys or banners in stadiums. Casinos are now weaving their brands into the entire fan experience. You’ll see odds integrations during sports broadcasts live betting stats popping up during halftime shows, and branded content on sports podcasts and YouTube channels.
It’s a smart move because fans begin to associate their favorite sports moments with casino brands. That top-of-mind awareness is priceless. Plus, with the rise of social media, viral moments involving betting predictions often include tags and mentions of betting apps, which also improve brand recognition organically.
Improving Fan Engagement
Let’s assume you’re new to the casino industry and want to try some slot games. Think about a sports-themed slot game with animated penalty shootouts, basketball-inspired bonus rounds, or even roulette wheels hosted by dealers in football jerseys. These games can make the gambling experience feel more relatable, which may encourage exploration. Thankfully, there are already games that offer this feel, including Basketball Star, Football Star, etc.
To further improve fan engagement, operators have been integrating live streaming options. This way, fans who cannot access physical stadiums can still participate from anywhere. And as we have already mentioned, this all-in-one experience can really help improve customer retention.
Don’t forget that as the casino industry becomes competitive, customer acquisition costs are also increasing. So, as much as you focus on reaching new audiences, you want to ensure you retain as many as possible. That’s why some operators even implement live and in-play betting features on their platforms.
Days when bettors would place their wagers before the game started and just hope for the best are long gone. Today’s fans want action during the game, which is where in-play betting comes in. Interestingly, according to Uplatform, this form of betting accounts for almost half (46%) of the sports-betting gross income.
The best part is that fans who place in-play bets are more likely to remain glued to your platform until the game ends. This could mean higher business yields for your brand than competitors who don’t implement such offerings.
What Is Our Final Word?
At this point, you can actually agree that the sports industry has been a blessing to casinos. For instance, operators often use its popularity to position their brands before billions of followers. Plus, by implementing sports betting offerings, they can tap into new markets and improve fan engagement, which may result in higher business yields.
