Online gambling, or iGaming, has a current size of €42 billion globally, with the anticipation that its value will reach a staggering $86.1 billion by 2024. Businesses invested in this industry are always on the lookout to integrate the latest technology to stay on top of the market.
Initially, organisations in iGaming were innovative and used the Internet to provide their services. With mobile technology taking off, these firms were quick to adapt, allowing them to keep up with the demands of the market.
Big data is transforming a wide variety of industries, including iGaming, as it gives companies the opportunity to introduce significant changes to their services. Here are a handful of ways big data is changing the iGaming landscape.
Online gambling service providers are using big data analytics as part of their strategy to develop new marketing techniques while enhancing older ones. As customers are producing vast volumes of data, companies in this industry are able to tailor their advertisements.
Operators can keep track of the behavior of their users and create the right type of adverts to gain their attention. An example is to send out personalized emails that offer discounts to customers who were unable to win on a particular day.
Enhance customer experience
For any company to last in a highly competitive market, they need to focus on keeping consumers happy. When it comes to iGaming, big data analytics is contributing in this critical area of customer service. For starters, big data helps operators provide accurate odds. Players find this incredibly useful when it comes to effective strategies that increase the chances of winning.
Improve player retention
Player retention is crucial in the iGaming industry and has a huge impact on the revenue generated by businesses. While operators need new users to use their services, repeat buyers are those who will help them remain profitable.
Businesses are investing in big data for a deeper understanding of consumers. They can roll out loyalty programs, which ensure players continue to use their services.
Big data is about to become the driving force of the iGaming industry. It gives operators the tools to learn more about their customers and personalize their services accordingly. On top of that, companies can use this information to identify and tackle gambling addiction.
As big data analytics is advantageous to both the player and the business, it will certainly aid in the exponential growth of this industry!
At iMovo we have the tools that will help you provide the best experience for your players. Be it a customer service management, big data analytics or Artificial Intelligence, we are here to help.
For more information about our services, or to schedule a demo, get in touch now on [email protected].