What COVID-19 means for the online gaming industry
Due to the pandemic, the demand for online entertainment has spiked dramatically. A recent report by Statista revealed that watching streaming services has jumped 51 percent and regular TV watching is up 45 percent. People need in-home entertainment, now more than ever, and that includes gaming. The gaming industry is pivoting quickly to ensure that the people who previously visited casinos can now enjoy their entertainment safely at home.
Fortunately, there are online alternatives, and those channels are revisiting their onboarding experience to ensure they are making the best first impression online.
iGaming Business has invited Michael Dunne, customer success manager at Trulioo, to provide insights about how leading gaming operators are continuing to attract new users during COVID-19. On May 27, iGaming is hosting a webinar, The COVID-19 effect: going from digital-first to digital-only, to provide the gaming industry with best practices for market expansion strategies that deliver users with an exceptional onboarding experience that balances security and speed.
The impact of COVID-19 on the gaming industry has been profound, with stark drop-off in sports betting and massive focus from government and regulators on responsible gambling and protecting vulnerable consumers. In addition, gaming operators must ensure that they are protecting customers (and themselves) from fraudsters looking to take advantage of vulnerable groups, particularly those who are new to digital channels and mobile applications.
As operators battle to attract new customers and drive as much revenue as they can in a fiercely competitive but limited marketplace, understanding the expectations of consumers and getting inside the head of the 2020 online gamer will help improve their relationship immensely.
Michael will explain how first impressions count in online gaming — new research finds that 77 percent of online gamers claim that the account opening process can “make or break” their future relationship with a brand. Punters expect operators to deliver both speed and security, particularly during the current crisis, and they expect real-time identity verification during the account creation process.
Also hear from an industry giant on the practical measures they are taking to make sure they are able to meet their compliance obligations and protect customers, while also delivering a first-class account creation experience.
Riding out the storm, preparing for the future
It’s imperative that gaming operators take the steps now to ensure that they can continue in a safe and legal manner. Simultaneously, they can start looking ahead and establish strong and effective processes that will serve them far into the future.
The increase in demand for online entertainment options will continue for a significant period of time; perhaps it will affect consumer choices on an ongoing basis. Operators optimizing their account creation processes to include real-time identity verification are positioning themselves to make most of these new opportunities.