New data from Juniper Research suggests that the value of online gambling wagers “will soar from just over $550 billion this year to nearly $950 billion by 2021.”
According to the Jupiter crew, Wager levels will thus approach total spend on all digital goods and services by that time, forecast to exceed $1 trillion for the first time in 2021.
Juniper’s latest research, Mobile & Online Gambling: Casinos, Lotteries, Betting & VR 2016-2021, found that gambling activities were increasingly migrating to the online environment, with the majority of net growth attributable to users of mobile channels. It also argued that new technologies such as VR would provide a further stimulus to the online casino sector, which is expected to account for just under half of wagers by value in 2021.
Juniper’s research argued that within an increasingly consolidated and maturing sector, providers had intensified their focus on securing customer loyalty.
“It observed that leading players were exploring a range of options to achieve this, with Ladbrokes offering a rewards scheme and the Rank Group’s Grosvenor business providing cross-channel memberships,” Juniper says.
According to research author Lauren Foye, “User engagement goes a long way towards drawing in return business. Providing features such as news and media on favorite teams, as well as personalized offerings based on past betting activity, enables greater engagement and is likely to reduce churn.”