It’s a new year and the start of a new decade for the gambling industry, which also means the start of new trends for online casino gaming and sports betting. To maintain the interest of current punters and attract the attention of new betting Brits, gambling sites need to up their game. This means making the necessary changes that will evolve their brands and speak to today’s UK bettor.
It’s no longer enough to simply have a mobile app and a VIP programme. The top UK betting sites know they need to improve each year in terms of service and product level if they want to remain competitive and thrive in the ever-growing sports betting market place in our digital and on-demand age.
Here are three trends that are likely to bring betting to a who new level in the 2020s.
Personalised User Experience
Consumers want unique and personal experiences. For this reason, adopting personalisation as a marketing tool is important for many online industries that want to provide consumers with what they crave: a more personalised online buying experience. Be it online shopping or online betting, consumers want to spend when it suits their desires and needs.
For betting, a strong user experience gives punters from all walks of the life the chance to find the leagues, markets and events that best interest them, with greater ease. Using AI analytics as part of a marketing strategy can help bookies know what to show specific punters, allowing them to tailor certain offers, betting markets, products and services that would most appeal to that customer. It’s about targeting an individual rather than a general demographic.
Giving players the ability to personalise their own experience, including designing their own lobby within the sportsbook, delivers the freedom to enjoy gambling in a way that best suits them.
Punters will want more than mobile and live betting. This technology was last decade’s popular trend. Heading into the 2020s, in the UK we’re likely to see a greater demand for betting on markets that are not only in-play, but that settle fast. In other words, Instant Betting could become the next big thing, especially for the “Instant Generation” Gen Z punters.
Instant betting isn’t just about making an in-play wager. It goes beyond simply being able to bet on match odds during play. Instead, instant betting markets give punters the chance to bet on events to take place in a very short period of time. This can include the next team or player to score, such as betting on every point in a tennis match. This type of betting also allows for open bets to be cashed out.
Additionally, while these types of wagers are often seen today with football and tennis matches, over time, it won’t be surprising to find them offered on other sports as well.
The Rise of Cryptocurrencies
It is commonly thought that cryptocurrencies (e.g. Bitcoin, Litecoin, Ethereum, etc.) will continue to gain ground and eventually dominate the gambling industry. Over the next decade, it is expected that more and more iGaming platforms will come to accept the decentralized digital currency for deposits and withdrawals as the popularity of crypto grows.
Although traditional payments like credit/debit cards, eWallets and bank transfers will remain an option at the largest gambling sites, the younger generations who are far more comfortable with digital technology, are expected to prefer the speed, security and anonymity that cryptocurrencies offer, further boosting the acceptance of this payment method.
Cryptocurrencies is liked due to there being a lesser risk of hacking and identity theft. Moreover, some crypto-only gambling sites don’t even require users to register to place their bets, increasing the player’s security and lack of trackability, as not even an email is required to wager.
The Future is Personal, Instant and Crypto
According to a Global Sports Betting Market report, by the end of 2023, the global Sports Betting market is expected to be valued at USD$125.18 billion (£96.5 billion), growing at a CAGR of 9.58% throughout 2020 to 2023.
To be a part of this growth and take advantage of this multi-billion-pound industry, sportsbooks – big and small – will need to differentiate from the vast number of bookies in the saturated internet gambling market. This will take personalising user experience, offering instant betting to appeal to younger instant gratification-seeking punters, and further diversifying payments by adding cryptocurrency into the mix.