Just recently, Market Data Forecast released a study claiming that the global casino market had already surpassed the $308.52 billion mark. According to the institution, the industry could hit $328.48 billion in 2025 and $542.41 billion in the next few years, accounting for a 6.47% CAGR. This agrees with other institutions like Market Research Future, which expects the sector to grow by 6.48% CAGR.
One of the reasons for this growth is the continued popularity of online platforms. For example, the continued increase of online casinos South Africa has made it possible for players to access gambling experiences conveniently from any place at any time. This ensures that more people can participate, leading to the industry’s further growth.
But that’s not all, and reading this article will help you understand why different institutions expect this sector to expand.
Contents
The Age of Mobile Phones
You most likely could be reading this article using your smartphone, which is just an example of how we are using these devices to do almost everything. In fact, according to some experts, mobile gambling accounts for more than 80% of the industry in most countries. You don’t want to ignore such statistics in an industry like the casino that has become super competitive.
Can you imagine that, according to Digital Silk, more than 60% of the world’s internet traffic comes from mobile phones? Imagine the pain of missing out on this audience just because your casino platform misbehaves on smaller devices. No wonder online casinos South Africa and other regions have been implementing responsive designs to appeal to smartphone users.
If your platform can function well on a mobile phone, it improves the likelihood of discovering more audiences. Remember, according to Exploding Topics, more than 90% of the world’s population owns a mobile phone. As such, you want to ensure that your platform easily adjusts to such screen sizes to reach as many people as possible from this existing population.
And the statistics do not lie. BusinessDasher recently reported that responsive platforms often witness about 11% higher conversions than non-responsive ones. Plus, about 67% of consumers are more likely to shop from such websites when using their smartphones to transact, further emphasizing how responsive designs can help the industry expand.
The Prevailing Emphasis on Safety
Do you know that more than 85% of individuals want to do more to safeguard their digital privacy? This clearly demonstrates how we have become more attentive to online safety and why operators need to be more serious about protecting their customers. It’s even more serious because cybercriminals are increasingly targeting the sector.
Just recently, CasinoBeats released a report claiming that 70% of online casinos had encountered cyberattacks. Given that a good number of customers never return after such incidents, even online casinos South Africa are working hard to improve their safety. This is why security features like two-factor authentication and SSL encryption have not ceased to dominate the sector.
2FA, for instance, can prevent exposure to almost all (99.9%) targeted attacks. It can also prevent harm from as much as 96% of phishing attacks, a prevalent problem for many online businesses. On the other hand, SSL encryption can protect internet communications from being compromised by malicious persons.
Since these features are not new to many players, integrating them can help improve the attractiveness of casino platforms. And the more people join the casino industry because of its perceived safety, the more likely it will grow.
A Greater Focus on Customer Experience
Any serious businessperson will agree that customer experience is like the heartbeat of any business. People want to spend their money on valuable things, which is why even online casinos South Africa are prioritizing customer experience (CX). According to Zendesk, this is actually the focus of close to 90% of businesses.
A good example is how many casinos are adopting numerous payment methods. Don’t forget that payment preferences differ significantly globally, and the availability of preferred methods can influence the purchase decisions of up to 70% of customers. And mark you: casinos are not just diversifying these methods but also focusing on ensuring they are seamless.
This way, they can attract and retain more players because, according to Clearly Payments, about nine in ten customers expect seamless payment experiences. And, of course, one way of retaining customers is by aligning with their preferences, such as providing seamless payments.
On top of that, operators are also diversifying their game products to include games like Poch to increase their reach. Let’s take the slot genre, for instance. Whether you’re a movie enthusiast, sports fan or whatever preference, you will likely find a slot game for your specific taste.
This makes the industry more relatable and encourages exploration. Good enough, online casinos South Africa know this quite well and are taking advantage of it to discover new audiences, which may cause the industry to grow even more.
Our Final Word
Unsurprisingly, institutions like Market Data Forecast expect the casino industry to expand. Operators, including online casinos South Africa, have been adopting contemporary approaches like responsive designs to increase their relevance among mobile users.
There has also been more focus on online safety as operators seek to stay ahead of malicious actors. Since players have become more discerning, brands are prioritizing CX, which may cause the sector to expand, as Market Data Forecast has reported.
