Current Challenges In Gambling Marketing And How To Overcome Them
Due to steady growth, the gambling industry is one of the most competitive ones. In practice, it leads to meeting and overcoming the newest problems in terms of marketing and advertising. What is the situation with it in the middle of 2020?
Being an actively developing industry, online and offline casino providers are at the forefront of innovation in marketing and advertising. The coronavirus pandemic has only increased the interest in this direction as people always want to make easy money, while the bookmaking industry has met significant troubles during the total quarantine. So, people turned their look at online gambling and considerably increased the total revenue in this sphere.
However, even ignoring the COVID-19 influence, the gambling industry has had steady growth over the years and forecasts have been bright for the whole sector. For a particular entertainment provider, the situation is not so optimistic as positive predictions usually mean the growth of competitiveness. In turn, it requires applying better marketing campaigns, the usage of more innovative advertising methods, and realisation of the well-planned overall strategy.
It is interesting, that not only adverse phenomenon can be met in the sphere of online and offline casinos. The vast majority of the developed countries have already been applying new restrictions in the gambling sector. Governments of most states know what gaming addiction is, and try to implement stricter rules for responsible gaming. For gambling providers, it means severer rules during the license getting. In this case, a rethinking of the whole marketing and advertising strategy is a must for every gambling organisation.
5 major marketing challenges in the gambling industry
That is probably the hardest issue for current marketing strategies. Moreover, the word ‘strategies’ seems to be redundant in this context as governments of diverse countries are changing requirements regularly. For instance, the UK and Spain rulers decided to restrict the usage of betting companies' logos on the T-shirts of sports clubs as part of a more conservative advertising campaign.
The recent news about casinos also confirmed that German Association required more control over the payments of gambling providers. In practice, it can significantly influence the way an online casino tries to build its advertising campaign, which can be based around fast withdrawal methods, for example. Norway is disturbed because of increased gambling addiction during the last five years, which can lead to more severe rules of getting a license and advertising methods. That is only a shortlist of countries that may change marketing plans.