Are you actually aware the global sports betting market has already exceeded the $85.65 billion mark? As if that’s not enough, Grand View Research expects it could grow by 10.3% within the next few years. A lot of things have been changing in this industry, encouraging more people to join.
Let’s take the popularity of online platforms, for example. Now, with just a simple touch of a button on your phone, you can bet on different outcomes from any place at any time. So, to learn more about how such factors and many others are driving the popularity of sports betting, continue reading.
The contribution of online platforms
Ever since the first sports betting platform launched in the late 20th century, this industry has made significant strides. As such, what was once a niche industry now enjoys influence across multiple cultures. And looking at the statistics, TGM Research claims that about 96.51% of sports fans who often bet normally do this through online platforms.
And as we have already mentioned, accessing sports betting has never been as convenient, thanks to online platforms. And mark you: According to Marketing Charts, over eight in ten shoppers claim that convenience in shopping has become more important than ever. Since online betting platforms offer just that, we could actually see more fans join the industry.
Plus, online platforms have made it possible for sportsbooks to access in-depth customer data, something that wasn’t possible in the past. With it, they can now provide experiences that resemble bettors more, which could result in stronger customer relationships. By the way, do you actually know that, according to experts, about 73% of customers want business to understand their unique expectations?
For any sportsbook seeking long-term success, this is a huge statistic to ignore. Thankfully, with new-age technologies, you can track user preferences, betting history, and other aspects and tailor betting recommendations that work well with unique tastes. Think of it as finding a music playlist that reflects your passions on your favorite streaming platform. This is definitely an experience most people would love.
Realizing this, online sportsbooks have been taking advantage of personalization to grow their following. And as competition in this industry soars, most could actually welcome this approach in a bid to improve their edge.
The age of increased mobile phone usage
There is a high chance that you could be accessing this content using your mobile device. Can you imagine that, according to Statista, about 98% of global users use their mobiles to access the internet? You definitely wouldn’t want to turn a blind eye to such an enormous population as an operator. This also means they should be able to have seamless experiences when they are using such small devices to bet.
A bettor doesn’t have to keep pinching or zooming the screen just because they switched their devices from desktops to smaller ones. No wonder you haven’t stopped seeing responsive designs dominate the industry. These designs are usually created so that they can adjust to varying screen sizes automatically.
Of course, you don’t want your brand to be perceived as insensitive to customers’ changing preferences. And now that most punters use their mobiles to bet, bookmakers are working hard to ensure they can find enjoyable experiences on these small devices.
And do you know what? Such websites can actually improve retention rates. The improved user experience they offer encourages punters to keep exploring the websites and even to remain loyal. And if they find positive and consistent experiences across multiple devices, they could become more satisfied and tell their friends about your brand. Now, this must be good news, especially now that acquiring new punters has become quite expensive.
Don’t also forget that, as we have already mentioned, many people now use their mobile phones to access almost everything. Therefore, tailoring your websites to cater to such preferences gives you an opportunity to discover new audiences. This is already a plus in an industry where almost every service provider is becoming innovative.
The power of bonuses
Well, it’s quite difficult to think about the sports betting industry without bonuses coming to mind. Almost all sportsbooks use these features to encourage people to bet or engage more with the site. And you could actually be surprised to learn that, according to Cropink, more than three-quarters of customers prefer brands with engaging loyalty programs.
The sports betting industry seems to understand this quite well and has even been improving its bonus perks to retain as many punters as possible. For instance, by analyzing player behavior, some platforms now provide more tailored bonus recommendations. Bonuses are already engaging in themselves, but using technology to personalize them can really help reach and retain many customers.
What is our final word?
There is actually no denying the fact that the sports betting industry is on a rising trajectory. And one of the things that has really contributed to this trend is the popularity of online platforms. At least now, you don’t have to wait until you are in a physical place to bet; by simply clicking on your mobile device, you will be good to go.
Bookmakers also seem to understand that most punters are shifting to mobile devices. To align with such changes, they are working hard to ensure consistent experiences even as you bet on smaller devices.
