The United States online gaming industry is nearly six years old. Former Nevada governor Brian Sandoval passed the first online gaming bill in February 2013. Many experts hoped that the market would grow faster and help rejuvenate the ailing casino industry. Unfortunately, online gaming sites are struggling to gain traction in states that have liberalized their gaming laws. The good news is that advances in big data should help gaming companies maximize revenue and spur economic growth.
How will big data help stimulate the United States online gaming industry
A number of factors are coming to a head. For the online gaming market to meet growth projections, all of the pieces need to fall into place. Some of this is up to fate, while other factors need to be carefully designed by decision makers throughout the organizational hierarchy of the leading casinos.
Ed Miller wrote an article in Card Player discussing the factors that will determine the success of the online gaming industry. Some of the most important factors that he addressed will be impacted by big data. Our own SWOT analysis shows that there are other benefits of big data in this slowly but steadily growing industry.
Here are some of the where is that big data will help. For more gambling news and tips check this site.
Scaling marketing strategies to the absolute max
The biggest difficulty that online gaming companies in the United States face is that the existing federal legal framework doesn’t allow them to offer their services across state lines. This means that online gaming providers need to reach every customer they possibly can through every available channel.
Big data is essential for online gaming marketing campaigns Compare Bitcoin Gambling Sites. It enables them to uncover as much information as possible about potential customers. They can use predictive analytics tools like Google Trends to see what types of search engine queries customers are using to learn more about online poker opportunities. They can also find fan pages customers are following on Facebook and use those as part of their social media targeting strategy. There are also data mining tools that digital marketers can use to find publishers that they can run advertisements on.
Offer top-of-the-line loyalty programs
Ed Miller states that one of the most important factors that will affect the future success of the United States online gaming industry is the launch of new loyalty programs. In order to compete in a new, oligopolistic Industry where companies struggle to differentiate themselves, loyalty programs are going to be a major factor that sets them apart.
Big data is going to make it easier for strategists to develop successful loyalty programs. Many brands are using big data to create loyalty programs already. Since all online gaming providers are partnered with a brick-and-mortar casino with decades of experience in their jurisdiction, they can pull data on the success of loyalty programs from their land-based operations. They can also use customer engagement data to determine the preferences of their patrons. All of this data will help them create the most effective rewards program as possible.
Ensure compliance with interstate gaming restrictions
Existing gaming laws are very strict about preventing gaming providers from offering their services across state lines. The only exception is if they are offering them in another state that has also legalized online gaming and formed a gaming compact with other states that have legalized online gaming.
These companies have used Geo location technology to identify the precise location of every possible customer to ensure compliance with local online gaming laws. Big data is necessary to keep this technology working seamlessly.
Mitigating fraud risks
Fraud has been one of the fastest growing problems affecting online gaming providers in other jurisdictions. It has not been as big of a concern in US states that have legalized online gaming yet, largely because the market is still small. However, the risk is going to continue to grow in the years to come. Most online brands have been able to fight fraud by using predictive analytics tools. Online gaming providers in the United States will have to follow suit.