The world is becoming smaller and we have the internet to thank for that. 30 years ago the world was another place, which is not to say that the internet hasn’t done good. It was just different. The internet has revolutionized a lot of industries on a global but also on local scale. The industry this article will be talking about is the gambling market. The gambling market has experienced exponential growth after the introduction of the internet. The reason for this is that gambling drives on making the consumer get the thrills of the casino and betting at home. This article will pursue to examine how the global gambling market has changed and grown and how the marketing of gambling is at the moment.
What is the global online gambling market?
First of all, it is important to define what the global online gambling market is. The traditional gambling market - as the article will call it - refers to the experience of going to a casino and playing the various games. Poker, black jack, roulette, slots etc. It is a physical place you travel to and get your excitement of playing for cash. Gambling also includes various bookmakers, which are stores that allow the consumers or gamblers to bet on various sports and games.
The online gambling market is then by definition the exact same things just online. It takes the experience of going to a casino or a bookmaker by doing it online. It is convenient for the consumer, who doesn’t have to leave his living room for playing and betting. This makes the whole experience a lot different but in the same sense very much the same. The online gambling market has grown because of this and it has never looked back. Online casinos all over the world have been introduced among many online Casinos for South African have become very popular. The question is how big has it grown and how much money is involved in the whole industry?
A billion dollar industry with no end in sight
The global online gambling market is huge. There is no denying that it has become one the biggest markets globally. The sheer experience for the consumer to play online and bet on sport that is going on across the world would lure most in. Sport fans are among some of the biggest gamblers. Many players do not confine themselves to one bookmaker but are involved in two or even more bookmakers. That is to get the best odds for the games and in some cases play bookmakers up against each other on specific bets. There are many tricks to use and that is also why the global online gambling market has grown to become a billion dollar industry.
A lot of business studies on the online gambling markets shows and indicates that by 2023 the global gambling market will grow to 56,7 billion us dollars. That is a net worth of 56,7 billion dollars.
The sheer volume of the market seems to be incomprehensible. The market continues to grow even though consumers aren’t always winning on gambling and betting. One of the reasons the market keeps growing is because of great marketing.
Marketing and gambling
Going online or watching tv any time of the day will cause you to see at least one advertisement for a gambling or betting company. They are everywhere and it makes sense. In the last 10 years the amount of bookmakers and online casinos have tripled. The bigger corporations own more than one online casino, which causes them to spread out their revenue and keep marketing their product. The gambling industry has become masters of letting the consumer know that the thrill of gambling can be achieved at home and you don’t want to miss out.
There are a lot of marketing tricks online casino companies use to lure the consumer in. One is to show ordinary people playing and gambling on the company's website. The consumer can relate to other consumers and it gives them a certain authority. The consumer sees other consumers having fun and even having a chance to win money and it makes the wanna get some action as well. Another trick often used by betting companies are using celebrities and personas to promote their casino. There are a lot of examples among others are Bet365’s use of Samuel L. Jackson. When using a persona to promote a product isn’t a new thing but it works. The consumer often wants to be like certain personas and when having them promoting a product, they make the consumer think that to be like Samuel L. Jackson, you gotta play at this casino or bet at this bookmaker. It is a trick to lure the consumer inside the invisible doors of the casino and keep them their.
What is the global online gambling market?
First of all, it is important to define what the global online gambling market is. The traditional gambling market - as the article will call it - refers to the experience of going to a casino and playing the various games. Poker, black jack, roulette, slots etc. It is a physical place you travel to and get your excitement of playing for cash. Gambling also includes various bookmakers, which are stores that allow the consumers or gamblers to bet on various sports and games.
The online gambling market is then by definition the exact same things just online. It takes the experience of going to a casino or a bookmaker by doing it online. It is convenient for the consumer, who doesn’t have to leave his living room for playing and betting. This makes the whole experience a lot different but in the same sense very much the same. The online gambling market has grown because of this and it has never looked back. Online casinos all over the world have been introduced among many online Casinos for South African have become very popular. The question is how big has it grown and how much money is involved in the whole industry?
A billion dollar industry with no end in sight
The global online gambling market is huge. There is no denying that it has become one the biggest markets globally. The sheer experience for the consumer to play online and bet on sport that is going on across the world would lure most in. Sport fans are among some of the biggest gamblers. Many players do not confine themselves to one bookmaker but are involved in two or even more bookmakers. That is to get the best odds for the games and in some cases play bookmakers up against each other on specific bets. There are many tricks to use and that is also why the global online gambling market has grown to become a billion dollar industry.
A lot of business studies on the online gambling markets shows and indicates that by 2023 the global gambling market will grow to 56,7 billion us dollars. That is a net worth of 56,7 billion dollars.
The sheer volume of the market seems to be incomprehensible. The market continues to grow even though consumers aren’t always winning on gambling and betting. One of the reasons the market keeps growing is because of great marketing.
Marketing and gambling
Going online or watching tv any time of the day will cause you to see at least one advertisement for a gambling or betting company. They are everywhere and it makes sense. In the last 10 years the amount of bookmakers and online casinos have tripled. The bigger corporations own more than one online casino, which causes them to spread out their revenue and keep marketing their product. The gambling industry has become masters of letting the consumer know that the thrill of gambling can be achieved at home and you don’t want to miss out.
There are a lot of marketing tricks online casino companies use to lure the consumer in. One is to show ordinary people playing and gambling on the company's website. The consumer can relate to other consumers and it gives them a certain authority. The consumer sees other consumers having fun and even having a chance to win money and it makes the wanna get some action as well. Another trick often used by betting companies are using celebrities and personas to promote their casino. There are a lot of examples among others are Bet365’s use of Samuel L. Jackson. When using a persona to promote a product isn’t a new thing but it works. The consumer often wants to be like certain personas and when having them promoting a product, they make the consumer think that to be like Samuel L. Jackson, you gotta play at this casino or bet at this bookmaker. It is a trick to lure the consumer inside the invisible doors of the casino and keep them their.
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