Online Gaming & Account Opening Report 2020
As the online gaming industry enters the new decade, there are huge opportunities for innovation and growth, making it vital to understand consumer attitudes, behaviors and expectations toward online gaming.
To that end, Trulioo has commissioned a consumer survey that explores the factors that online gamers regard as essential to creating first-class online gaming experiences, especially as it pertains to the account creation process. The research was conducted by Insight Avenue and surveyed over 2000 consumers in the U.K. and U.S.
The conclusion is clear: operators must balance their efforts to provide a fast and seamless customer experience with the need to protect their customers, and themselves, from security and compliance threats.
The importance of customer onboarding
More than three-quarters (77 percent) of online gamers claim that the account opening process can ”make or break” their future relationship with a brand. However, only 33 percent reported that they were fully satisfied with their experiences creating online gaming accounts over the last two years.
In fact, customer satisfaction around the online account opening process is lower within online gaming than any other sector, including retail, financial services and online marketplaces.
For online gaming operators who fail to create an effective onboarding experience, the threat is real. Competitors are a click away, and online gaming enthusiasts have no qualms about abandoning the process. On the other hand, operators that do deliver an effective experience gain a competitive advantage.
Zac Cohen, COO of Trulioo, said, “Online gaming operators need to ensure that their account opening process provides consumers with a fast and seamless journey that also protects them against risk.
“This research highlights the extent to which account creation is the make-or-break experience. New customers will choose their gaming site based entirely on that first impression.”
Consumer preferences for identity verification
Online bettors, as with other consumer segments, do understand and appreciate the need for account security. In fact, they cite security as the most important factor in any account creation process.
Having said that, they will not tolerate lengthy, invasive or slow account creation. Modern consumers have become accustomed to placing orders and interacting online, so are well aware of frictionless experiences. Thus, they expect their online sports betting, casino or other gaming option to deliver a comparable account creation experience.
The research uncovers widespread consumer appetite for real-time identity verification as part of a fast and secure account creation process. The vast majority of online gamers would be less likely to abandon opening an account if the gaming operator used real-time identity verification (86 percent), would feel more valued as a customer (85 percent), and would be more likely to say positive things about the brand to other people (84 percent).
Cohen concluded, “Online gamers are overwhelmingly supportive of identity verification checks to minimize risk and ensure security; they simply want the process to be as efficient and intuitive as possible, in keeping with the real-time, intuitive customer experience they enjoy once they are signed up to the site. As gaming operators develop their strategies to take advantage of the exciting new opportunities emerging over the coming years, they should not overlook the fundamental importance of being able to onboard customers in the right way. Those that can combine speed and security to deliver an optimal experience will be well placed to thrive in the new decade.”
Transform your business today. Learn what consumers expect from a compelling digital gaming experience. Providing the right balance of speed, security and convenience during account creation is a surefire way to establish a trusted and meaningful relationship.