The Australian gambling industry has really been doing well. In fact, just recently, iGaming Today released a report claiming that it could hit $15.43 billion in 2025 and grow at a CAGR of about 2.26% within the next few years. Some sectors within the industry, like online gambling, have also been making tremendous progress.

According to the report, the online gambling sector is expected to increase by a CAGR of more than 5%, hitting $8.99 billion by 2033. And given that the entire industry is open to innovation, it could grow even to surpass these predictions. Read on to discover why this is possible.

The power of bonuses

It’s almost impossible to imagine the casino industry without bonuses. And expectedly, players tend to love these perks because they help to improve the gameplay. With 25 free spins on registration, for example, players can explore different games without risking their own money.

This can be very handy, especially for platforms seeking to improve retention rates. Great loyalty programs incentivise customers to remain loyal and can lead to increased lifetime value and overall retention rates. Interestingly, just a five per cent increase in retention could increase profitability by anywhere between 25 and 95%.

Plus, the more loyal players are, the better. Do you know that, according to Semrush, the likelihood of transacting with a returning consumer is about 60% to 70%, while that of a new one is just 5-20%? And now that iGaming companies in the country are focusing on improving their retention capabilities, it makes sense to expect the industry to grow and even surpass prediction.

On top of that, returning customers are 50% more likely to explore new products and even spend up to 31% more than new ones, which can be helpful during new game launches. This is why operators may reinvent bonus perks to improve their appeal and retain as many players as possible. That way, more players will likely remain loyal, meaning more profits for operators and, thus, more gambling revenue.

Aligning with increased smartphone usage

According to redsearch.com.au, the number of smartphone users could reach 23.6 million by 2026, up from 19.9 million in 2017. This will mean that almost 90% of the country’s population will have these devices. And now that we use these devices to do almost everything, including streaming, this is not a statistic any serious business person would want to ignore.

Being aware as they are, modern consumers would not want inconsistent website experiences just because they switched to smaller screens. In fact, studies show that up to 57% may never recommend websites that don’t work well on mobile devices. This is why operators have been turning to responsive designs to improve their relevance to mobile phone users.

Responsiveness helps to ensure players can have consistent experiences, regardless of the sizes of their gaming devices. Surprisingly, this design approach can actually improve conversions by up to 11%. Plus, according to BusinessDasher, more than six in ten businesses using it have reported increased sales, showing just how profitable responsive designs are.

And since they can help improve user experience, almost every company targeting the Australian market is turning to them. Remember, we rarely keep quiet about positive experiences. A study by Help Scout that goes along these lines suggests that 72% of consumers will likely share their encounters with not less than six people. Now, imagine the ripple effect this can have if every iGaming company focuses on providing better website experiences.

Mark you: about 88% of users trust word-of-mouth recommendations more than any other advertising method. So, as players speak about their good experiences in the industry, they could encourage many others to join, leading to more revenue.

The rise of personalisation

We live in a time when customer data has become the new gold. Businesses across many sectors now depend on it to understand their customers and provide more relevant experiences. Actually, according to studies, 73% of customers want brands to be able to decipher their unique tastes.

Thankfully, the Australian iGaming industry seems to understand what this means. No wonder several companies are already using technologies like artificial intelligence to monitor players’ interactions. 

Using those insights, they are now providing more relevant experiences, which most customers love. For instance, if a player loves golfing, the platform can detect that from previous searches and recommend golf-themed games.

Statistics show that customising experiences could increase retention by 44%. As if that’s not enough, 80% of shoppers prefer buying from brands that personalise. This way, a brand can send the message that it cares about customer preferences, which can lead to stronger customer connections.

What is our final word?

There is no denying the fact that the iGaming industry in Australia is really advancing. Brands in this sector have been implementing innovative measures like personalisation to improve customer retention. After all, we have moved from the days when customers were very okay with generic offers to the days when they expect to find tailored experiences.

In fact, some experts claim that 81% want customised experiences. This is why the Australian iGaming industry has been turning to AI technology to take advantage of these statistics. Plus, they are also reinventing features like bonuses to maintain their relevance.

And we can’t forget to mention how most of them have been welcoming responsive designs to improve their appeal to mobile users. With all these innovations, this industry will definitely continue growing and possibly surpass predictions.