What is Online real money gaming?
Online gambling or otherwise known as online real money gaming represents a vast and largely unexplored opportunity for investors and entrepreneurs globally. Laws vary greatly across different countries but generally they are getting more relaxed, particularly in the United States so the market is continuously growing. Online betting generated nearly $65 billion annual revenue globally in 2013, more than half of which was from the U.S. alone, and is estimated to grow at a rate of around 10% annually for the next few years. According to Juniper Research, mobile betting will contribute in excess of $100 billion globally by 2017.
Why online gambling?
A real money online player has an average ‘lifetime’ that’s considered to be much longer than a social gamer, hence the reason why investors are showing such high interest in the industry. As mentioned above, the U.S. is becoming a magnet for real money companies and online casinos are proliferating due to its size, potential and the gradual relaxing of the laws.
But why is there so little enthusiasm about online casinos, bingo, poker, slot and so on? Isn’t it just any other part of the gaming industry which usually gets considerable amount of press and social media coverage?
What are the challenges / issues?
Well, let’s look at the two main challenges facing the industry and perhaps we’ll find some answers there about why it is so hard to write about it.
Innovation
There seems to be a definite lack of innovation and the online gambling sector is hard-pressed to shake off its image of being perceived as ‘boring’ compared to the wider games industry. The same old games appear to be endlessly repackaged and apart from the dedicated community not many other gamers seem to be interested.
Social Responsibility
One of the main concerns that investors or entrepreneurs have when it comes to online real money gaming, is to do with social responsibility. There are even cases when some large VC’s for example, have blank policies against getting involved with any kind of gambling, which automatically excludes online casinos, slot, poker etc. and denies enterprises in the industry an opportunity to exit.
This is also the case in big public and private equity investors, which generally means that start-ups in the industry find it a considerable challenge to source investment capital.
How can you be a successful online real money gaming company?
The industry is definitely having a growth spurt and it is a good time for existing and new players to make a real impact. With laws becoming more favourable, particularly in the US, and with the image of online gambling not suffering from negative connotations, it seems that creating and offering innovative solutions is the way forward. So rather than just following the well-established formats, those who dare to experiment with social, new types of games or anything else that might introduce a bit of ‘sparkle’ and attract some interest in the gaming world, will be the future success stories.
Our approach to online gaming:
Online gambling is more about branding than most other online businesses, So that’s our first question: how strong and well known is your brand?
Next, we take a long and hard look at your customers, segment them and evaluate them.
Moving on to data, CRM, retention marketing and user acquisition, we leave no stone unturned.
Feel free to [su_button url=”http://www.eyaldror.com/contact-us” style=”glass”]Contact us now[/su_button] for a free 1 hour consultation.