How do online casinos earn player trust?
A player trust or loyalty is one of the most crucial factors affecting the success of gambling sites. Namely, this determines whether a user would come back to your site again and play for money. Slotegrator has explored what exactly affects online casino visitors’ behavior and what is most important for today's online player.
What does the player trust exactly mean?
First of all, the trust of online players is a commitment to a certain gambling site, motivated by a well-established habit to play there. This behavior is characterized by no interest in alternative services and a belief that this online casino is the best one.
In general, loyalty is rational and emotional. Rational one is based on financial benefit. While emotional depends on a sympathetic attitude to the site, which increases the value of the online casino services, as well as psychological comfort.
Why does the client loyalty mean a lot in gambling?
In recent years, with the development of the Internet and digital technologies, online gambling has become one of the fastest growing industries. According to the portal Statista.com, in 2015, the size of the global online gambling market reached $37.91 billion and it will increase up to $59.79 billion by 2020.
The high dynamics of the industry is confirmed by a growing number of new online casinos, new gaming content, advanced technologies, evolving and implemented at a furious pace. In such conditions, the competition is growing each passing day, and every online casino is literally "hunting" for players. Therefore, the cost of attracting new customers is constantly increasing.
The marketing analysis shows that the cost of attracting new players is about ten times higher than the budget for retaining the existing customer base. And the task of loyalty programs is to create a solid base of regular players.
Who are the loyalty programs designed for?
As practice shows, it is much more complicated to retain a player than to keep him or she on the site. Advertising and PR are those tools that are mainly used for new players engagement. However, not all the gamblers who came to the site through advertising are interested in this gambling house. For example, many people come in search of the promised benefits by advertising. Their primary goal is an easy and fast gain. Not having received the expected, such players easily move to another site.
According to Pareto Law, which is known as the Law 80:20, 20% of customers provide 80% of profit. And this principle is true for the gambling business. Only about 20% of the total online casino visitors bring a stable income to the gambling site. Therefore, online casinos focus on the retention of these 20% through loyalty programs.
For this purpose, operators constantly invent new methods to do that: Bonus programs, free spins, drawings, lotteries, prizes, etc.
Let's take a closer look at what works most effectively on the player loyalty.
What affects the loyalty of players?
According to the research of Maritz Loyalty Marketing and Yankelovich Inc, the constant reduction of price to increase the number of sales does more harm than good. Traditional price wars are not effective because today's customer needs more than just low prices.
The same applies to the gambling business. Huge bonuses and free options attract only those who are looking for quick and easy money. And such visitors do not have high loyalty and do not bring appreciable advantage to the gambling establishment.
Slotegrator experts highlight some of the most significant factors influencing the player's trust, which in turn, directly affect their loyalty. Let's consider them in descending order.
1) License specified on the site
As noted by H2 Gambling Capital in the monthly report for February 2018, the share of the white online gambling market has steadily increased in the last 10 years. The white market consists of licensed gambling sites strictly following the rules of a certain regulatory body.
Global white market income from online gambling
The growth of the legal gambling business on the Internet is due to the fact that the legislators of many countries actively took over the regulation of this market.
The statistics of the British H2 Gambling Capital, published in March 2018, show the share of licensed gambling sites by region for 2017.
White online gambling market by regions 2017
Today, European countries have the most developed gambling legislation and more than 70% of the gambling business operates within the legal field. The region also takes the leading positions in the global gambling industry, which is confirmed by the data of H2 Gambling Capital's report.
Online gambling revenue by region 2017
The countries of the Old World poses a share of 53%. It is this region that sets the tone for the whole world. Well-considered regulation contributes to the fact that European players prefer to use the licensed gambling services, rather than doubtful sites declared illegal.
But Europeans are not the only ones who need an online casino to be controlled and have their customer rights protected by the regulator. Today, the availability of a license is the key factor influencing the loyalty of players around the world. Therefore, the data on the license and the jurisdiction that issued must be publicly available on the site.
2) Honest RTP, licensed gaming software
This is the second most important moment that partly derives from the first. The player needs to know that he or she plays the honest slots, that the gambling site does not fake RTP (the return to player).
Even an experienced player is almost impossible to distinguish a fake slot machine from a certified one. It is therefore important for an online casino to specify with which providers and supplies it is in cooperation. It is necessary to give the player the opportunity to check the game software to make sure that the slot is loaded from the developer's official server.
3) Honest and fast withdrawal of funds
The third important criterion that influences loyalty is how the player gets his winnings. A choice of methods of withdrawal is essential for the user. The more options, the more beneficial it is for the casino. Today, in addition to traditional bank cards and transfers, online gamblers actively use cryptocurrency, various electronic payment systems, and Internet wallets. The more withdrawal options are offered by the casino, the higher the customer loyalty will be.
Interest for withdrawal of funds means a lot also. A rational player will choose the casino where withdrawal fee is low or absent at all.
The terms of withdrawal are also of serious importance. In case of winning, a person craves to get his money as soon as possible. Therefore, the processing speed of withdrawal requested is one of the important indicators that players rely on when choosing an online casino. Many users believe that only honest and verified gambling platforms allow instant withdrawal of funds.
4) Live chats for quick problem solving
Having a 24/7 customer support service is another very important factor in creating a high level of loyalty among players. In case of financial issues or problems with the game, the client should be able to report it promptly. And a gambling portal has to resolve the trouble as soon as possible.
Live chat absolutely fits this demand. In addition to the round-the-clock availability, it is necessary to provide support in different languages and within target regions, as well as to hire professional customer staff.
The presence of such a chat carries an important psychological component for the client. This demonstrates that gambling site takes care of the clients, which is undoubtedly essential moment. When the client is relaxed and confident that in case of problems, the staff will immediately come to his aid, then he or she is unlikely to move to another gambling space.
5) Online casino reputation
Today's players are well aware that it is not possible to win every game, but some who lost flood the Internet with negative posts. In this case, the reputation plays an important role, thus forming the image of a gambling institution.
The brand image is also important for the player's personal self-esteem. Therefore, the online casino's goodwill needs to be given a special importance. Here are important positive reviews of players and competently constructed work with negative, openness and honesty of gambling establishments.
Also, the reputation of the gambling platform is influenced by its presence in the ratings of various authoritative sources, references in the media, presence on large specialized portals and social networks, participation in profile events, etc.
6) Attractive bonuses and loyalty programs
The availability of bonus programs and promotions has already become mandatory in online casinos. There are a variety of options – depending on what type of players the gambling site is oriented to: Bonuses for first and second deposit, cashback, tournaments, bonuses for VIP-players and highrollers, etc.
In order to keep customers and motivate them to come back, operators also need to use loyalty programs that imply additional rewards for the players' activity. It can be bonus points giving some privileges, an opportunity to participate in additional promotions and receive valuable prizes, etc.
As a rule, participation in loyalty programs has certain conditions for players. It is important that player is informed about these requirements.
7) Regular updates of gaming content
Modern Internet users are accustomed to diversity. It does not matter what it is. This statement is valid for all categories: For online shops visitors, for those who are looking for online services, for online casino players, etc.
Each operator forms a specific set of games available to players. But slot machines always lead, being the most demanded kind of gambling entertainment. Developers of the game software aim at releasing new products every month or even more often.
Of course, not all slots are highly popular among online casino visitors, as not all games bring a good profit to gambling site. But the novelties should be periodically launched, so the players can learn them closely. Then they will have no sense to go playing new slots on another platform.
Loyalty determines the level and quality of customer and online casino relationships, forming the player's trust. To manage it, the operator needs to deeply understand its target audience, which makes it possible to make the right offer in time.
Loyalty of players builds up a client base, and this leads to reduction of marketing expenses and profitability of gambling establishment.