1 July 2021: The popularity of the online gambling industry has increased immensely. From all around the world, people are accessing online casinos using computers and mobiles. Every day, new operators are emerging in the market, and it is not easy for gaming providers to keep up their market shares. This is the time when business intelligence plays its role.
By using business intelligence, you can mix analytics, data collection, visualization, and other tools. The purpose of the mixing of the tools is to provide useful information to the businesses in decision making. Now the question is how it could be useful for online casinos? Let’s see what the impacts of business intelligence on the gaming industry are.
In most parts of the world, the online gaming industry is well-regulated. But for a web-based casino must have a license from their relevant authorities to offer their online services. This is the reason you find online gambling platforms well regulated and dedicated to their fair business policies and conditions.
The license for gaming is temporary, and the casino has to renew it on a regular basis. It means they must have to meet the relevant regulations and laws. When you put in your renewal application, the authorities need accurate and comprehensive reports, and it will not be an easy task to do. But with the help of business intelligence, the process becomes simple and makes sure that the regulatory report of the casino will be produced and delivered quickly.
If an online casino is not offering fantastic games, then no player will be attracted to it. The quality and quantity will be mixed by most of the gambling platforms that you will find on the internet. There are different titles for these gambling games, and some of them are given below:
According to the stats, this type of game is loved by most players.
There are several different variations in this popular number game.
If you are a newbie, it is the perfect genre for you to start.
The most popular gambling game is poker, but you will also get some glimpses of other genres like baccarat.
Popular casinos in the world include some famous games like Craps, Keno, Virtual Sports, and other games as well. When a platform includes many titles, you can select the most popular one with the help of business intelligence. After analyzing the data, you can find out which is the most played game by players, i.e. it is blackjack or roulette.
If you want your player to get an enhanced gaming experience, you should use informed decision-making techniques when designing the games. For example, if your players love poker, you should present it on the homepage of your website so that newbies should give it a try as well. Moreover, you can also use that game as a promotion to attract new players. But if the game is taking unnecessary space on your server, you should take it out from your library.
Most of the players usually play those games which are most profitable. But on the other hand, you can also get benefits from other games by learning their performance. Let’s take an example; you have to analyze that what sort of Texas Hold’em Poker players usually play? Is it high or low stakes? If the tables are full in low stakes, you can boost your profit by adding new rooms.
In 2020, the worth of the mobile gambling market was at an incredible level of $79.5 billion. According to the reports, this value of the industry in going to be increased by three times in 2027. That means it could easily cross the $250 billion mark.
When you use business intelligence in your gambling platforms, they give you details like what are the devices of the players and how they are accessing the website. You will know that if they are using a dedicated application or a web browser. You can check the popularity of your casino according to the platforms such as iOS and Android. When you have all this information in front of you, you can focus on which area should be improved.
Many of the online casinos are offering their services in several countries. You can get the benefit by analyzing the player’s location with these facilities. You can get very useful information with business intelligence, like where your casino is more popular. For example, you might be surprised to know that most of your players are from Sweden. So you should think of launching a local version of your casino for that specific region. In that case, you will surely attract more players from that area.
In the business intelligence industry, you often hear people saying some buzzwords such as data accuracy. It is because if you want authentic information, then it must be accurate. That is when you can use this information to analyze players for their bonus. This information can also get your casino new players with the right promotion strategies.
It is often seen that online casinos gladly welcome loyal player bonuses. For a new player, the bonuses include first deposit bonus, free spins, etc. For their loyal players, they have loyalty programs which contain various benefits, VIP scheme, slot races, and many other things.
Another important point that you should be observing is how many new players stay after using their initial bonuses. If the percentage is not good, then you should think of improvement.
Working with business intelligence can help you get accurate reports which results in identifying the potential trends. So you can act on them in time and stay in the competition to secure a position in the market.
Profit is the main thing in any business. That’s why an online Casino isn’t any different from the others. While using business intelligence, you can get useful data to make smart moves in future. It will also help you experiment with different things until you find the right balance meanwhile saving your money. If you are investing in the online gambling business, then you will see long term positive effects of business intelligence.