The online casino industry is similar to the hospitality one since it depends largely upon the disposable income of its customer base. During any recession the gaming industry is often hit the hardest and it can be a slow recovery before operators start hitting the high notes again.
To stay afloat when recession hits, online casinos must cut costs and streamline their entire business model to get more players through their virtual doors. In an ultra competitive market brand loyalty is key and it only takes one bad experience for a player to move on to the next casino.
”There will always be players who prefer human interaction, this is why it’s imperative to have live casino games that appeals to the new digital native.” Casinowhizz.com
To meet the challenges brought on by a competitive market and recession, online casinos must diversify their mix of attractions. In other words they must look beyond their slot games. In addition, there is a new guest emerging in the gaming industry: A guest that’s younger, more tech savvy and in search of a ‘more-to-do’ gaming experience. So what does this mean? Today’s internet casino must offer something that’s akin to a high-end shopping mall, nightclub, performance venues and fine dining restaurants-all that will rope in this new customer.
The good news is that technology solutions are readily available now which helps casino operators address all these needs. It’s important that operators must offer a personalized experience and build loyalty to ensure that their guests keep coming back.
Operators that mastered the art of rewards offer targeted deals such as regular promotions (free spins or bonuses) on selected slots where players can earn FFP’s (Frequent Player Points). Once they have accumulated a certain amount of FFP’s they can be exchanged for real cash.
As new technology is surfaces, online casinos are now extending their game libraries by adding live casino games like blackjack, roulette, craps, hold’em poker and baccarat. It’s a win-win because they give players the opportunity to hone their table game skills against the live dealers and technology enhances the player experience as well.
There will always be players who prefer to interact with a human, this is why it’s important that casinos employ the necessary games and staff to handle this need. After all a new digital native known as millennials is going to take the online gaming industry by storm.